MEDICA_MARKET_ACCESS_LIMI - Accounts

MEDICA MARKET ACCESS LIMITED - Company Information

Print Friendly Version

Company Registration No. 07754052 (England and Wales)

MEDICA MARKET ACCESS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

MEDICA MARKET ACCESS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MEDICA MARKET ACCESS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

62,993

7,738

Current assets

Debtors

46,680

77,574

Cash at bank and in hand

98,177

57,806

144,857

135,380

Creditors: amounts falling due within one year

(137,735)

(97,336)

Net current assets

7,122

38,044

Total assets less current liabilities

70,115

45,782

Capital and reserves

Called up share capital

100

Profit and loss account

70,015

45,682

Shareholders' funds

70,115

45,782

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

Director's 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 director acknowledges his 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 17 January 2017

Mr Edward Hutt

Director

Company Registration No. 07754052

MEDICA MARKET ACCESS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 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).

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 services net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

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:

Office equipment

15% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

20% straight line

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

MEDICA MARKET ACCESS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 September 2015

13,819

Additions

63,243

At 31 August 2016

77,062

Depreciation

At 1 September 2015

6,080

Charge for the year

7,989

At 31 August 2016

14,069

Net book value

At 31 August 2016

62,993

At 31 August 2015

7,738

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

At the year end, the director owed the company £818 (2014: £8,049) which was cleared by way of dividends within 9 months of the year end.