DEANS_MEDICARE_LTD - Accounts


Company registration number SC649557 (Scotland)
DEANS MEDICARE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
PAGES FOR FILING WITH REGISTRAR
DEANS MEDICARE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DEANS MEDICARE LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2022
30 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,737
2,605
Investments
5
5,193,875
5,193,875
5,195,612
5,196,480
Current assets
Debtors
6
9,600
9,601
Cash at bank and in hand
13,698
41,671
23,298
51,272
Creditors: amounts falling due within one year
7
(2,187,370)
(2,172,725)
Net current liabilities
(2,164,072)
(2,121,453)
Total assets less current liabilities
3,031,540
3,075,027
Creditors: amounts falling due after more than one year
8
(1,976,620)
(2,257,987)
Provisions for liabilities
(434)
(651)
Net assets
1,054,486
816,389
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,054,386
816,289
Total equity
1,054,486
816,389

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

DEANS MEDICARE LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2022
30 November 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 August 2023 and are signed on its behalf by:
A Hanif
Director
Company Registration No. SC649557
DEANS MEDICARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 3 -
1
Accounting policies
Company information

Deans Medicare Ltd is a private company limited by shares incorporated in Scotland. The registered office is 1st Floor, 133 Finnieston Street, Glasgow, United Kingdom, G3 8HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of management charges provided during the year, exclusive of Value Added Tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

DEANS MEDICARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

DEANS MEDICARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021 and 30 November 2022
4,341
Depreciation and impairment
At 1 December 2021
1,736
Depreciation charged in the year
868
At 30 November 2022
2,604
Carrying amount
At 30 November 2022
1,737
At 30 November 2021
2,605
5
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
5,193,875
5,193,875
DEANS MEDICARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 6 -
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
9,600
9,601
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
272,748
264,130
Taxation and social security
9,364
7,837
Other creditors
1,905,258
1,900,758
2,187,370
2,172,725
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
1,976,620
2,257,987
2022-11-302021-12-01false29 August 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityA HanifJ ConnollySC6495572021-12-012022-11-30SC6495572022-11-30SC6495572021-11-30SC649557core:OtherPropertyPlantEquipment2022-11-30SC649557core:OtherPropertyPlantEquipment2021-11-30SC649557core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-30SC649557core:CurrentFinancialInstrumentscore:WithinOneYear2021-11-30SC649557core:Non-currentFinancialInstrumentscore:AfterOneYear2022-11-30SC649557core:Non-currentFinancialInstrumentscore:AfterOneYear2021-11-30SC649557core:CurrentFinancialInstruments2022-11-30SC649557core:CurrentFinancialInstruments2021-11-30SC649557core:ShareCapital2022-11-30SC649557core:ShareCapital2021-11-30SC649557core:RetainedEarningsAccumulatedLosses2022-11-30SC649557core:RetainedEarningsAccumulatedLosses2021-11-30SC649557bus:Director12021-12-012022-11-30SC649557core:PlantMachinery2021-12-012022-11-30SC6495572020-12-012021-11-30SC649557core:OtherPropertyPlantEquipment2021-11-30SC649557core:OtherPropertyPlantEquipment2021-12-012022-11-30SC649557core:Non-currentFinancialInstruments2022-11-30SC649557core:Non-currentFinancialInstruments2021-11-30SC649557bus:PrivateLimitedCompanyLtd2021-12-012022-11-30SC649557bus:SmallCompaniesRegimeForAccounts2021-12-012022-11-30SC649557bus:FRS1022021-12-012022-11-30SC649557bus:AuditExemptWithAccountantsReport2021-12-012022-11-30SC649557bus:Director22021-12-012022-11-30SC649557bus:FullAccounts2021-12-012022-11-30xbrli:purexbrli:sharesiso4217:GBP