Muscliff Medical Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03173694 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

Muscliff Medical Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M F Poonja

Dr D R Gee

Dr D A Crichton

Dr S M Thomas

Dr R A Benson

SECRETARY:

Mrs G R Benson

REGISTERED OFFICE:

5 Tolpuddle Gardens

Muscliff

Bournemouth

Dorset

BH9 3RE

REGISTERED NUMBER:

03173694 (England and Wales)

ACCOUNTANTS:

Ward Goodman

Chartered Accountants

4 Cedar Park

Cobham Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7SF

FIXED ASSETS

Tangible assets

2

1,237,209

1,241,588

CURRENT ASSETS

Stocks

2,160

1,630

Debtors

50,119

30,520

Cash at bank and in hand

369,517

360,983

421,796

393,133

CREDITORS

Amounts falling due within one year

96,086

84,894

NET CURRENT ASSETS

325,710

308,239

TOTAL ASSETS LESS CURRENT LIABILITIES

1,562,919

1,549,827

PROVISIONS FOR LIABILITIES

31,974

30,616

NET ASSETS

1,530,945

1,519,211

CAPITAL AND RESERVES

Called up share capital

3

300,000

300,000

Retained earnings

1,230,945

1,219,211

SHAREHOLDERS' FUNDS

1,530,945

1,519,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 5 July 2016 and were signed on its behalf by:

Dr D R Gee - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

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

-

not provided

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

33% on cost and 15% on reducing balance

Soft Furnishings

-

15% on reducing balance

No depreciation has been provided in respect of freehold land and buildings. This is contrary to the requirements

of both the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities, both of which

require that tangible fixed assets be depreciated on an annual basis. However, in the opinion of the directors, no

depreciation charge is required, since the difference between net book value and current market value is not

thought to be material.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 profit or loss in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

1,630,589

Additions

33,998

At 29 February 2016

1,664,587

DEPRECIATION

At 1 March 2015

389,001

Charge for year

38,377

At 29 February 2016

427,378

NET BOOK VALUE

At 29 February 2016

1,237,209

At 28 February 2015

1,241,588

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

300,000

Ordinary

£1

300,000

300,000

4.	ULTIMATE CONTROLLING PARTY