Biba Medical Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02944429 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2015

for

Biba Medical Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R M Greenhalgh MA MD MChir FRCS

S J Greenhalgh

SECRETARY:

K M Greenhalgh

REGISTERED OFFICE:

526 Fulham Road

London

SW6 5NR

REGISTERED NUMBER:

02944429 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

10-14 Accommodation Road

Golders Green

London

NW11 8ED

FIXED ASSETS

Tangible assets

2

1,995,315

1,889,114

Investments

3

34,039

21,440

2,029,354

1,910,554

CURRENT ASSETS

Debtors

840,517

734,139

Cash at bank

1,591,368

750,213

2,431,885

1,484,352

CREDITORS

Amounts falling due within one year

1,050,330

675,491

NET CURRENT ASSETS

1,381,555

808,861

TOTAL ASSETS LESS CURRENT LIABILITIES

3,410,909

2,719,415

PROVISIONS FOR LIABILITIES

62,684

50,247

NET ASSETS

3,348,225

2,669,168

CAPITAL AND RESERVES

Called up share capital

4

2,000

2,000

Revaluation reserve

102,053

-

Profit and loss account

3,244,172

2,667,168

SHAREHOLDERS' FUNDS

3,348,225

2,669,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 4 December 2015 and were signed on its behalf by:

R M Greenhalgh MA MD MChir FRCS - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Income is recognised at the point

of provision of the service.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

20% on cost

Fixtures and fittings

-

between 25% and 33% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the balance sheet date except that:

- deferred tax is not recognised on timing differences arising on revalued properties unless the company has

entered into a binding sale agreement and is not proposing to take advantage of rollover relief; and

- the recognition of deferred tax assets is limited to the extent that the company anticipates to make sufficient

taxable profits in the future to absorb the reversal of the underlying timing differences.

Deferred tax balances are not discounted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Investments

Investments held as fixed assets are stated at cost less any provisions for impairment. Investments are reviewed

for impairment if events or circumstances indicate that the carrying value may not be recoverable in full.

Impairments are calculated such that the carrying value of the fixed asset investment is the lower of cost or the

recoverable amount, being its net realisable value in use.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2014

2,045,370

Additions

87,891

Revaluations

102,053

At 30 June 2015

2,235,314

DEPRECIATION

At 1 July 2014

156,256

Charge for year

83,743

At 30 June 2015

239,999

NET BOOK VALUE

At 30 June 2015

1,995,315

At 30 June 2014

1,889,114

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2014

21,440

Reversal of impairments

12,599

At 30 June 2015

34,039

NET BOOK VALUE

At 30 June 2015

34,039

At 30 June 2014

21,440

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2,000

Ordinary

£1

2,000

2,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review, book royalties of £20,626 (2014 - £22,686) were paid to R M Greenhalgh.