MedChemica Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08162245 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

MedChemica Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

2,758

2,856

Investments

3

1

2,759

2,857

CURRENT ASSETS

Debtors

80,401

56,485

Cash at bank

66,262

231,686

146,663

288,171

CREDITORS

Amounts falling due within one year

37,557

199,403

NET CURRENT ASSETS

109,106

88,768

TOTAL ASSETS LESS CURRENT LIABILITIES

111,865

91,625

PROVISIONS FOR LIABILITIES

552

571

NET ASSETS

111,313

91,054

CAPITAL AND RESERVES

Called up share capital

4

3

Profit and loss account

111,310

91,051

SHAREHOLDERS' FUNDS

111,313

91,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 15 December 2016 and were signed on its behalf
by:

Dr A G Dossetter - Director

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).

Preparation of consolidated financial statements

The financial statements contain information about MedChemica Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

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

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore,

turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

13,023

Additions

2,808

At 31 July 2016

15,831

DEPRECIATION

At 1 August 2015

10,167

Charge for year

2,906

At 31 July 2016

13,073

NET BOOK VALUE

At 31 July 2016

2,758

At 31 July 2015

2,856

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 August 2015

and 31 July 2016

1

NET BOOK VALUE

At 31 July 2016

1

At 31 July 2015

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

MedChemica Consultancy Limited

Nature of business: Consultancy

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

377

1,063

(Loss)/profit for the year

(686

)

1,062

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid

Number:

Class:

Nominal

2016

2015

Value

£

85

Ordinary A Share

1p

85p

85

Ordinary B Share

1p

85p

85

Ordinary C Share

1p

85p

15

Ordinary D Share

1p

15p

15

Ordinary E Share

1p

15p

15

Ordinary F Share

1p

15p

3