Medical Imaging Partnership Limited - Limited company - abbreviated - 11.9

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

MEDICAL IMAGING PARTNERSHIP LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Dr I S Francis

S J Oates

Dr J C C Serjeant

Dr P M Thompson

S J Crawford

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

06713311 (England and Wales)

FIXED ASSETS

Tangible assets

2

1,005,697

1,031,963

CURRENT ASSETS

Stocks

-

3,181

Debtors

1,106,358

554,939

Cash at bank and in hand

133,271

42,755

1,239,629

600,875

CREDITORS

Amounts falling due within one year

(1,171,261

)

(679,626

)

NET CURRENT ASSETS/(LIABILITIES)

68,368

(78,751

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,074,065

953,212

CREDITORS

Amounts falling due after more than one year

(580,904

)

(646,353

)

NET ASSETS

493,161

306,859

CAPITAL AND RESERVES

Called up share capital

3

1,628

1,548

Share premium

1,075,122

922,702

Profit and loss account

(583,589

)

(617,391

)

SHAREHOLDERS' FUNDS

493,161

306,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 December 2015 and were signed on its behalf by:

S J Oates - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced provision of services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

50% on cost, 20% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

at variable rates on reducing balance

Computer equipment

-

at varying rates on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Government grants

Government grants are recognised as receivable at their fair value, in accordance with Financial reporting

Standard 20, when there is reasonable assurance that the grant will be received and the company has complied

with all the attached conditions.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

1,345,119

Additions

131,688

At 31 March 2015

1,476,807

DEPRECIATION

At 1 April 2014

313,156

Charge for year

157,954

At 31 March 2015

471,110

NET BOOK VALUE

At 31 March 2015

1,005,697

At 31 March 2014

1,031,963

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal

2015

2014

Number:

Class

Value

£

£

1,000

Ordinary A

£1

1,000

1,000

628

Ordinary B

£1

628

548

1,628

1,548

80 Ordinary B shares of £1 were allotted during the year as follows:

15 at a premium of £1,499 per share.

65 at a premium of £1,999 per share.

4.	SECURED DEBTS

The company's bankers have a fixed and floating charge over all present and future assets of the company.