PANACER_MEDICAL_LIMITED - Accounts

PANACER MEDICAL LIMITED - Company Information

Print Friendly Version

Company Registration No. 4890873 (England and Wales)

PANACER MEDICAL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

PANACER MEDICAL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PANACER MEDICAL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

12,103

14,361

Current assets

Stocks

3,500

5,000

Debtors

4,991

6,922

Cash at bank and in hand

1,425

742

9,916

12,664

Creditors: amounts falling due within one year

(395,790)

(385,823)

Net current liabilities

(385,874)

(373,159)

Total assets less current liabilities

(373,771)

(358,798)

Capital and reserves

Called up share capital

100

Profit and loss account

(373,871)

(358,898)

Shareholders' funds

(373,771)

(358,798)

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 December 2016

Dr D Panacer

Director

Company Registration No. 4890873

PANACER MEDICAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company meets its day to day working capital requirements via funding through the directors' loan account.

The directors have given assurances that they will continue to support the company by such means and that they will not call on this loan until the company has sufficient financial resources to repay it. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by the directors.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Improvements Leasehold

20% per annum of cost

Fixtures, fittings & equipment

15% per annum of net book value

Computer equipment

33% per annum of net book value

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

PANACER MEDICAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

55,189

Additions

180

At 31 March 2016

55,369

Depreciation

At 1 April 2015

40,828

Charge for the year

2,438

At 31 March 2016

43,266

Net book value

At 31 March 2016

12,103

At 31 March 2015

14,361

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100