DR MAHSHIN LTD Small abridged accounts

DR MAHSHIN LTD Small abridged accounts

DR MAHSHIN LTD - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of DR MAHSHIN LTD have consented to the preparation of the abridged statement of financial position for the period ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 07894988
DR MAHSHIN LTD
Unaudited Abridged Financial Statements
31 March 2017
DR MAHSHIN LTD
Abridged Financial Statements
Period from 1 February 2016 to 31 March 2017
Contents
Page
Director's report
1
Accountants report to the director on the preparation of the unaudited statutory abridged financial statements
2
Statement of income and retained earnings
3
Abridged statement of financial position
4
Notes to the abridged financial statements
5
The following pages do not form part of the abridged financial statements
Detailed income statement
9
Notes to the detailed income statement
10
DR MAHSHIN LTD
Director's Report
Period from 1 February 2016 to 31 March 2017
The director presents his report and the unaudited abridged financial statements of the company for the period ended 31 March 2017 .
Principal activities
The principal activity of the company during the year was Locum services. The director of the company has decided to cease its business activities on 31 March 2017.
Director
The director who served the company during the period was as follows:
DR MOHAMMED ABUL MANSUR MAHSHIN
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 8 May 2017 and signed on behalf of the board by:
DR MOHAMMED ABUL MANSUR MAHSHIN
Director
Registered office:
Flat 3 Breakwell Court
115 Wornington Road
London
W10 5QF
DR MAHSHIN LTD
Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of DR MAHSHIN LTD
Period from 1 February 2016 to 31 March 2017
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the period ended 31 March 2017, which comprise the statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
MAHBUB & CO Accountants
58 Nelson Street London, UK E1 2DE
8 May 2017
DR MAHSHIN LTD
Statement of Income and Retained Earnings
Period from 1 February 2016 to 31 March 2017
Period from
1 Feb 16 to
Year to
31 Mar 17
31 Jan 16
Note
£
£
Turnover
66,587
61,183
--------
--------
Gross profit
66,587
61,183
Administrative expenses
25,920
23,139
--------
--------
Operating profit
40,667
38,044
Other interest receivable and similar income
12
–
--------
--------
Profit before taxation
5
40,679
38,044
Tax on profit
8,142
7,630
--------
--------
Profit for the financial period and total comprehensive income
32,537
30,414
--------
--------
Dividends paid and payable
( 32,000)
( 28,000)
Retained earnings at the start of the period
12,660
10,246
--------
--------
Retained earnings at the end of the period
13,197
12,660
--------
--------
All the activities of the company are from continuing operations.
DR MAHSHIN LTD
Abridged Statement of Financial Position
31 March 2017
31 Mar 17
31 Jan 16
Note
£
£
£
Fixed assets
Tangible assets
6
2,316
2,932
Current assets
Debtors
6,078
6,078
Cash at bank and in hand
13,522
12,411
--------
--------
19,600
18,489
Creditors: amounts falling due within one year
8,718
8,760
--------
--------
Net current assets
10,882
9,729
--------
--------
Total assets less current liabilities
13,198
12,661
--------
--------
Net assets
13,198
12,661
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
13,197
12,660
--------
--------
Members funds
13,198
12,661
--------
--------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 31 March 2017 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 abridged financial statements for the period 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 abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 8 May 2017 , and are signed on behalf of the board by:
DR MOHAMMED ABUL MANSUR MAHSHIN
Director
Company registration number: 07894988
DR MAHSHIN LTD
Notes to the Abridged Financial Statements
Period from 1 February 2016 to 31 March 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 3 Breakwell Court, 115 Wornington Road, London, W10 5QF.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the period, including the director, amounted to 2 (2016: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
Period from
1 Feb 16 to
Year to
31 Mar 17
31 Jan 16
£
£
Depreciation of tangible assets
616
733
----
----
6. Tangible assets
£
Cost
At 1 February 2016 and 31 March 2017
5,186
-------
Depreciation
At 1 February 2016
2,254
Charge for the period
616
-------
At 31 March 2017
2,870
-------
Carrying amount
At 31 March 2017
2,316
-------
At 31 January 2016
2,932
-------
7. Related party transactions
The company was under the control of Dr Mohammed Abul Mansur Mahshin throughout the current and previous year. Dr Mohammed Abul Mansur Mahshin is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
8. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.
No transitional adjustments were required in equity or profit or loss for the year.
DR MAHSHIN LTD
Management Information
Period from 1 February 2016 to 31 March 2017
The following pages do not form part of the abridged financial statements.
DR MAHSHIN LTD
Detailed Income Statement
Period from 1 February 2016 to 31 March 2017
Period from
1 Feb 16 to
Year to
31 Mar 17
31 Jan 16
£
£
Turnover
66,587
61,183
--------
--------
Gross profit
66,587
61,183
Overheads
Administrative expenses
25,920
23,139
--------
--------
Operating profit
40,667
38,044
Other interest receivable and similar income
12
–
--------
--------
Profit before taxation
40,679
38,044
--------
--------
DR MAHSHIN LTD
Notes to the Detailed Income Statement
Period from 1 February 2016 to 31 March 2017
Period from
1 Feb 16 to
Year to
31 Mar 17
31 Jan 16
£
£
Administrative expenses
Directors salaries
11,200
9,600
Wages and salaries
7,007
6,006
Insurance
817
676
Motor expenses
1,109
857
Travel and subsistence
3,762
3,461
Sundry expenses
140
146
Legal and professional fees (allowable)
500
983
Companies House fees
78
–
Accountancy fees
600
600
Depreciation of tangible assets
616
733
Bank charges
91
77
--------
--------
25,920
23,139
--------
--------
Other interest receivable and similar income
Interest on cash and cash equivalents
12
–
----
----