Prima Medical Limited Filleted accounts for Companies House (small and micro)
Prima Medical Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04831749
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Abridged Financial Statements |
Year ended 31 July 2022
Contents |
Page |
Chartered accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 July 2022
Midway House
Staverton Technology Park
Herrick Way, Staverton
Cheltenham, Glos.
GL51 6TQ
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Abridged Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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--------- |
--------- |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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--------- |
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Net current assets/(liabilities) |
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(
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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--------- |
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Net assets/(liabilities) |
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(
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Capital and reserves
Called up share capital |
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Share premium account |
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Profit and loss account |
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(
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--------- |
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Shareholders funds/(deficit) |
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(
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
26 July 2023
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
04831749
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Notes to the Abridged Financial Statements |
Year ended 31 July 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Foreign currencies
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles |
- |
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Office equipment |
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33% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Government grants
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2021:
4
).
5.
Intangible assets
£ |
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Cost |
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At 1 August 2021 |
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Additions |
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--------- |
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At 31 July 2022 |
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Amortisation |
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At 1 August 2021 |
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Charge for the year |
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--------- |
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At 31 July 2022 |
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--------- |
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Carrying amount |
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At 31 July 2022 |
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At 31 July 2021 |
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6.
Tangible assets
£ |
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Cost |
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At 1 August 2021 |
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Additions |
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At 31 July 2022 |
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Depreciation |
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At 1 August 2021 |
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Charge for the year |
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At 31 July 2022 |
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Carrying amount |
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At 31 July 2022 |
3,094 |
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At 31 July 2021 |
2,979 |
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7.
Directors' advances, credits and guarantees
During the year the company loaned money to Mr G Brooke on an interest free basis. The balance at the start of the year was £3,914 and by the end of the year this was £16,115 This balance was further reduced after the year end from funds introduced by the Director.
8.
Related party transactions
The company traded with Evac Medical Limited during the year, a company under the common control of the majority shareholder. At the year end £9,399 (2021 - £399) was owed by Evac Medical Limited. In addition the company was owed £175,401 (2021 - £175,401) by PrimaMed Limited a company under common control. Prima Medical was also owed £30,221 (2021 - £2,014) by GForce Concepts Limited, a company under common control