Abbreviated Company Accounts - CMC IMAGING SERVICES LIMITED

Abbreviated Company Accounts - CMC IMAGING SERVICES LIMITED

CMC IMAGING SERVICES LIMITED - Company Information

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Registered Number 03492885

CMC IMAGING SERVICES LIMITED

Abbreviated Accounts

31 January 2016

CMC IMAGING SERVICES LIMITED Registered Number 03492885

Abbreviated Balance Sheet as at 31 January 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 2,264,414 2,362,793
2,264,414 2,362,793
Current assets
Debtors 131,927 139,344
Cash at bank and in hand 515,328 205,753
647,255 345,097
Creditors: amounts falling due within one year (271,867) (268,529)
Net current assets (liabilities) 375,388 76,568
Total assets less current liabilities 2,639,802 2,439,361
Creditors: amounts falling due after more than one year (1,519,610) (1,587,663)
Accruals and deferred income (21,500) (21,500)
Total net assets (liabilities) 1,098,692 830,198
Capital and reserves
Called up share capital 3 1 1
Other reserves 1 1
Profit and loss account 1,098,690 830,196
Shareholders' funds 1,098,692 830,198
  • For the year ending 31 January 2016 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 17 October 2016

And signed on their behalf by:
Dr D J Beale, Director

CMC IMAGING SERVICES LIMITED Registered Number 03492885

Notes to the Abbreviated Accounts for the period ended 31 January 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared on the historical basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow as it qualifies as a small company.

Turnover policy
Turnover represents net invoices sales of goods and services, excluding Value Added Tax.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Land & Buildings freehold 2% on cost
Equipment, fixtures and fittings 15% on a reducing balance basis
Computer Equipment 33% on a reducing balance basis
Plant and Machinery 20-30% on a reducing balance basis

2Tangible fixed assets
£
Cost
At 1 February 2015 3,427,709
Additions 2,182
Disposals -
Revaluations -
Transfers -
At 31 January 2016 3,429,891
Depreciation
At 1 February 2015 1,064,916
Charge for the year 100,561
On disposals -
At 31 January 2016 1,165,477
Net book values
At 31 January 2016 2,264,414
At 31 January 2015 2,362,793

The net book value of other tangible fixed assets includes £70,000 (2015 - £100,000) in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £30,000 (2015 - £136,994) for the year.

3Called Up Share Capital

The company is controlled by David Beale, the director and majority shareholder.

Loans totalling £91,174 (2015: £63,150) were made to the company by the director Dr D Beale. The loan is accruing interest at 4%.

In the year dividends of £58,000 (2015: £13,000) were paid to the director Dr D Beale.

The director who served during the year provided capped personal guarantees in respect of the Bank Loans and Finance Leases.