Abbreviated Company Accounts - PEAK MEDICAL LTD

05703827 PEAK MEDICAL LTD 2015-12-31 false 2015-01-01 2015-12-31 true 05703827 2015-01-01 2015-12-31 05703827 2015-12-31 05703827 2014-12-31 05703827 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 05703827 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:PreferenceShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:PreferenceShareClass1 2015-12-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 05703827

PEAK MEDICAL LTD

Abbreviated Accounts

31 December 2015

PEAK MEDICAL LTD Registered Number 05703827

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	3,202	6,616
		3,202	6,616
Current assets
Stocks		73,274	72,013
Debtors		527,684	219,952
Cash at bank and in hand		124,939	63,543
		725,897	355,508
Creditors: amounts falling due within one year		(738,988)	(708,842)
Net current assets (liabilities)		(13,091)	(353,334)
Total assets less current liabilities		(9,889)	(346,718)
Creditors: amounts falling due after more than one year		(14,492)	(1,009,190)
Total net assets (liabilities)		(24,381)	(1,355,908)
Capital and reserves
Called up share capital	3	1,094,700	2
Profit and loss account		(1,119,081)	(1,355,910)
Shareholders' funds		(24,381)	(1,355,908)

For the year ending 31 December 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 6 June 2016

And signed on their behalf by:
A L Lawson, Director

PEAK MEDICAL LTD Registered Number 05703827

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2015.

Turnover policy
Turnover represents the value, net of value added tax, of goods and services supplied to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Computer equipment 33% straight line
Fixtures, fittings & equipment 25% reducing balance
Motor vehicles 25% straight line

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Cost is the expenditure which has been incurred to bring the product or service to a saleable condition.

Net realisable is the actual or estimated selling price less further costs to complete and costs to be incurred in marketing, selling and distributing.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the financial statements and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

2Tangible fixed assets

	£
Cost
At 1 January 2015	39,403
Additions	722
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	40,125
Depreciation
At 1 January 2015	32,787
Charge for the year	4,136
On disposals	-
At 31 December 2015	36,923
Net book values
At 31 December 2015	3,202
At 31 December 2014	6,616

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2
1,094,698 Preference shares of £1 each (0 shares for 2014)	1,094,698	0

During the year 1,094,698 preference shares of £1 each were issued.