Rm Medics Ltd - Accounts to registrar (filleted) - small 22.3

RM MEDICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH MAY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R F Facchiano

M A Mohson

REGISTERED OFFICE:

Suite K, Sandland Court

The Pilgrim Centre

Brickhill Drive

Bedford

Bedfordshire

MK41 7PZ

REGISTERED NUMBER:

08058862 (England and Wales)

ACCOUNTANTS:

HW East Midlands Audit LLP

Statutory Auditors

Woburn Court, 2 Railton Rd

Woburn Road Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

4

48,770

62,092

CURRENT ASSETS

Debtors

5

1,358,558

1,333,433

Cash at bank and in hand

690,233

658,943

2,048,791

1,992,376

CREDITORS

Amounts falling due within one year

6

1,409,881

1,488,548

NET CURRENT ASSETS

638,910

503,828

TOTAL ASSETS LESS CURRENT LIABILITIES

687,680

565,920

PROVISIONS FOR LIABILITIES

4,009

6,214

NET ASSETS

683,671

559,706

CAPITAL AND RESERVES

Called up share capital

5

5

Share premium

7,433

7,433

Retained earnings

676,233

552,268

683,671

559,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th February 2023 and were signed on its behalf by:

M A Mohson - Director

1.	STATUTORY INFORMATION

Rm Medics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets under the cost model are stated at historic cost less accumulated depreciation and any accumulated impairment losses.

Historic cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2021 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 31st May 2021

23,213

109,728

29,560

181,528

344,029

Additions

1,500

400

-

698

2,598

At 30th May 2022

24,713

110,128

29,560

182,226

346,627

DEPRECIATION

At 31st May 2021

14,509

77,078

25,615

164,735

281,937

Charge for year

2,551

6,607

986

5,776

15,920

At 30th May 2022

17,060

83,685

26,601

170,511

297,857

NET BOOK VALUE

At 30th May 2022

7,653

26,443

2,959

11,715

48,770

At 30th May 2021

8,704

32,650

3,945

16,793

62,092

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/5/22

30/5/21

£

£

Trade debtors

1,214,520

861,165

Doubtful debt provision

(17,587

)

(21,105

)

Amounts owed by participating interests

46,750

183,477

Other debtors

1,694

8,250

Prepayments

113,181

301,646

1,358,558

1,333,433

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/5/22

30/5/21

£

£

Bank loans and overdrafts

40,620

90,575

Trade creditors

11,709

12,465

Factor creditor

711,382

731,917

Corporation tax

150,821

117,019

Social security and other taxes

32,813

33,081

VAT

138,492

121,538

Other creditors

6,159

1,280

Net wages outstanding

2,692

245

Shareholder loan

18,420

20,000

Directors' current accounts

32,759

102,358

Accruals and deferred income

264,014

258,070

1,409,881

1,488,548

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30/5/22

30/5/21

£

£

Within one year

39,723

39,723

Between one and five years

20,235

59,958

59,958

99,681