Pentland Medical Ltd. - Abbreviated accounts 16.1

Pentland Medical Ltd. - Abbreviated accounts 16.1

PENTLAND MEDICAL LTD. - Company Information

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SC223422 1.1.15 31.12.15 31.12.15 Company accounts Private Limited Company FY true false true false true false true false A Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 D Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2234222014-12-31SC2234222015-12-31SC2234222015-01-012015-12-31SC2234222013-12-31SC2234222014-01-012014-12-31SC2234222014-12-31SC223422ns12:Scotland2015-01-012015-12-31SC223422ns14:PoundSterling2015-01-012015-12-31SC223422ns7:Director12015-01-012015-12-31SC223422ns7:OrdinaryShareClass12015-01-012015-12-31SC223422ns7:OrdinaryShareClass22015-01-012015-12-31SC223422ns7:OrdinaryShareClass32015-01-012015-12-31SC223422ns7:OrdinaryShareClass42015-01-012015-12-31SC223422ns7:Director22015-01-012015-12-31SC223422ns7:Director32015-01-012015-12-31SC223422ns7:RegisteredOffice2015-01-012015-12-31SC223422ns7:EntityAccountantsOrAuditors2015-01-012015-12-31SC223422ns5:PlantMachinery2015-01-012015-12-31SC223422ns5:FixturesFittings2015-01-012015-12-31SC223422ns5:MotorVehicles2015-01-012015-12-31SC223422ns5:ComputerEquipment2015-01-012015-12-31SC223422ns7:OrdinaryShareClass12015-12-31SC223422ns7:OrdinaryShareClass12014-12-31SC223422ns7:OrdinaryShareClass22015-12-31SC223422ns7:OrdinaryShareClass22014-12-31SC223422ns7:OrdinaryShareClass32015-12-31SC223422ns7:OrdinaryShareClass32014-12-31SC223422ns7:OrdinaryShareClass42015-12-31SC223422ns7:OrdinaryShareClass42014-12-31SC223422ns7:Director12014-12-31SC223422ns7:Director12013-12-31SC223422ns7:Director12014-01-012014-12-31SC223422ns7:Director12015-12-31SC223422ns7:Director12014-12-31
REGISTERED NUMBER: SC223422 (Scotland)















Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Pentland Medical Ltd.

Pentland Medical Ltd. (Registered number: SC223422)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Pentland Medical Ltd.

Company Information
for the Year Ended 31 December 2015







DIRECTORS: S Munro
J Munro
R Munro





REGISTERED OFFICE: 157 Broomhall Crescent
Edinburgh
Midlothian
EH12 7PJ





REGISTERED NUMBER: SC223422 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL
Page 1
Pentland Medical Ltd. (Registered number: SC223422)

Abbreviated Balance Sheet
31 December 2015

31.12.15 31.12.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 2,000 5,000
Tangible assets 3 33,352 41,588
35,352 46,588

CURRENT ASSETS
Stocks 16,982 14,567
Debtors 237,965 209,667
Cash at bank and in hand 143,288 83,207
398,235 307,441
CREDITORS
Amounts falling due within one year 259,557 162,171
NET CURRENT ASSETS 138,678 145,270
TOTAL ASSETS LESS CURRENT
LIABILITIES
174,030
191,858

CREDITORS
Amounts falling due after more than one
year
-
20,178
NET ASSETS 174,030 171,680

CAPITAL AND RESERVES
Called up share capital 4 140 140
Profit and loss account 173,890 171,540
SHAREHOLDERS' FUNDS 174,030 171,680

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these abbreviated accounts

Page 2 continued...
Pentland Medical Ltd. (Registered number: SC223422)

Abbreviated Balance Sheet - continued
31 December 2015


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 17 June 2016 and were signed on its
behalf by:





S Munro - Director


The notes form part of these abbreviated accounts

Page 3
Pentland Medical Ltd. (Registered number: SC223422)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015

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 January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the purchase of contracted commission payments in 2011, is being amortised over its' estimated useful life of 5 years .

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

Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance and 10% on cost
Motor vehicles - 20% on cost
Computer equipments - 33% 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

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.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015
and 31 December 2015 15,000
AMORTISATION
At 1 January 2015 10,000
Amortisation for year 3,000
At 31 December 2015 13,000
NET BOOK VALUE

At 31 December 2015 2,000
At 31 December 2014 5,000

Page 4 continued...
Pentland Medical Ltd. (Registered number: SC223422)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015 70,137
Additions 6,236
At 31 December 2015 76,373
DEPRECIATION
At 1 January 2015 28,549
Charge for year 14,472
At 31 December 2015 43,021
NET BOOK VALUE
At 31 December 2015 33,352
At 31 December 2014 41,588

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.15 31.12.14
value: £    £   
10 A Ordinary £1 10 10
10 B Ordinary £1 10 10
10 C Ordinary £1 10 10
10 D Ordinary £1 10 10
100 Ordinary £1 100 100
140 140

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2015
and 31 December 2014:

31.12.15 31.12.14
£    £   
S Munro
Balance outstanding at start of year 39,465 84,128
Amounts advanced 12,908 42,586
Amounts repaid (39,428 ) (87,249 )
Balance outstanding at end of year 12,945 39,465

Page 5