Accounts filed on 31-01-2016
Accounts filed on 31-01-2016
trueBraceys Accountants (Medical) Limited089032452016-01-3124162774076443166166407644314290640144056950109386239104861629754132253615899103557561121818338711452711452Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & MachineryReducing balance0.250010986024963871502371098602496387150237Ordinary class A1001100100Ordinary class B6616666Ordinary class A1100100100Ordinary class B1666666Ultimate controlling party
The company was under the control of PGB Asset Holdings Limited throughout the year. Peter Bracey, director of the company is the majority shareholder and director of PGB Asset Holdings Limited.Related party transactions
At the balance sheet date the company owed Nipun Gupta, director of the company £13,059 (2015: £2,702) and PGB Asset Holdings Limited £4,214. Also at the balance sheet date the company owed £0 (2015: £2,976) to Bracey's Accountants Limited. Bracey's Accountants (Medical) Limited, Bracey's Accountants Limited and PGB Asset Holdings Limited are related by way of Peter Bracey, being a common director. There are no terms relating to the payment of interest or repayment of capital.2016-09-26Nipun GuptaPeter BraceyDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureBraceys Accountants (Medical) Limited2015-02-012016-01-31Braceys Accountants (Medical) Limited2014-02-192015-01-31Braceys Accountants (Medical) Limited2014-02-18Braceys Accountants (Medical) Limited2015-01-31Braceys Accountants (Medical) Limited2015-01-31Braceys Accountants (Medical) Limited2016-01-31 2016-10-31
