Medication Management Solutions Ltd - Period Ending 2015-03-31

Registration number: 07998307

Medication Management Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Susan Ellison
Chartered Accountant
30 Whitchurch Close
Padgate
Warrington
Cheshire
WA1 4JZ

Medication Management Solutions Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Medication Management Solutions Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Medication Management Solutions Ltd for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Medication Management Solutions Ltd, as a body, in accordance with the terms of our engagement letterdated 14 April 2014. Our work has been undertaken solely to prepare for your approval the accounts of Medication Management Solutions Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Medication Management Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Medication Management Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Medication Management Solutions Ltd. You consider that Medication Management Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Medication Management Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

 
 
  Susan Ellison
 
  Susan Ellison
  Chartered Accountant
  30 Whitchurch Close
  Padgate
  Warrington
  Cheshire
  WA1 4JZ

26 October 2015

Page 1

Medication Management Solutions Ltd
(Registration number: 07998307)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					6,664			3,750
Current assets
Stocks					19,142			6,142
Debtors					65,704			189,387
Cash at bank and in hand					6,814			122
					91,660			195,651
Creditors: Amounts falling due within one year					(79,616)			(138,020)
Net current assets					12,044			57,631
Total assets less current liabilities					18,708			61,381
Creditors: Amounts falling due after more than one year					(61,539)			(57,603)
Net (liabilities)/assets					(42,831)			3,778
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(42,931)			3,678
Shareholders' (deficit)/funds					(42,831)			3,778

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 22 October 2015 and signed on its behalf by:

Andrew Beesley
 
 Mr Andrew Paul Beesley
 Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Medication Management Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnove represents net invoiced sales of goods and services, excluding value added tax. Sales on recognised on the delivery of service or goods.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Medication Management Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		5,671			5,671
Additions		7,195			7,195
Disposals		(2,905)			(2,905)
At 31 March 2015		9,961			9,961
Depreciation
At 1 April 2014		1,921			1,921
Charge for the year		2,422			2,422
Eliminated on disposals		(1,046)			(1,046)
At 31 March 2015		3,297			3,297
Net book value
At 31 March 2015		6,664			6,664
At 31 March 2014		3,750			3,750

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Richard Morgan-Green
Amounts advanced	27,756	-	35,691	14,575
Mr Andrew Paul Beesley
Amounts advanced	25,126	-	31,826	10,710

Page 4