Isles of Scilly Medical Services Limited - Period Ending 2015-03-31

 
 
 
 
 
 
 
  Isles of Scilly Medical Services Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2015
 
  Company Registration Number: 08486087

Isles of Scilly Medical Services Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Isles of Scilly Medical Services Limited
Abbreviated Balance Sheet
31 March 2015

		Note			31 March 2015 £			31 March 2014 £
Fixed assets
Tangible fixed assets		2			32,524			40,655
Current assets
Stocks					30,345			15,191
Debtors					137,487			59,525
Cash at bank and in hand					45,912			24,592
					213,744			99,308
Creditors: Amounts falling due within one year					(260,963)			(159,028)
Net current liabilities					(47,219)			(59,720)
Net liabilities					(14,695)			(19,065)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(14,795)			(19,165)
Shareholders' deficit					(14,695)			(19,065)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Isles of Scilly Medical Services Limited
Abbreviated Balance Sheet
31 March 2015 ......... continued

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 21 December 2015 and signed on its behalf by:

Dr F T A Old
Director

Company Registration Number: 08486087

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

Isles of Scilly Medical Services Limited
Notes to the Abbreviated Accounts
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).

Going concern

The financial statements have been prepared on a going concern basis. The company owes £210,646 to Helston Medical Centre, its controlling party. The partners of Helston Medical centre have confirmed that they will not actively seek repayment of this loan if it puts the going concern status of the company into doubt.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Fixtures and fittings	25% 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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		42,057			42,057
At 31 March 2015		42,057			42,057
Depreciation
At 1 April 2014		1,402			1,402
Charge for the year		8,131			8,131
At 31 March 2015		9,533			9,533
Net book value
At 31 March 2015		32,524			32,524
At 31 March 2014		40,655			40,655

Page 3

Isles of Scilly Medical Services Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 March 2015						31 March 2014
		No.			£			No.			£
Allotted, called up and unpaid of £1 each		100			100			100			100

Page 4