Podiamed Limited - Accounts to registrar - small 17.1.1

Podiamed Limited - Accounts to registrar - small 17.1.1

PODIAMED LIMITED - Company Information

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REGISTERED NUMBER: 04614102 (England and Wales)












PODIAMED LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2016






PODIAMED LIMITED (REGISTERED NUMBER: 04614102)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PODIAMED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2016







DIRECTORS: P A Wright
Mrs L K Wright





REGISTERED OFFICE: 2 St Andrews Place
Lewes
East Sussex
BN7 1UP





REGISTERED NUMBER: 04614102 (England and Wales)





ACCOUNTANTS: Clark Brownscombe
Chartered Accountants
2 St Andrews Place
Lewes
East Sussex
BN7 1UP
Page 1
PODIAMED LIMITED (REGISTERED NUMBER: 04614102)

BALANCE SHEET
31ST DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 17,500
Tangible assets 5 26,075 29,124
41,075 46,624

CURRENT ASSETS
Stocks 1,100 1,100
Cash at bank 13,599 542
14,699 1,642
CREDITORS
Amounts falling due within one year 6 19,114 20,134
NET CURRENT LIABILITIES (4,415 ) (18,492 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
36,660
28,132

CAPITAL AND RESERVES
Called up share capital 11,500 11,500
Retained earnings 25,160 16,632
SHAREHOLDERS' FUNDS 36,660 28,132

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 notes form part of these financial statements

Page 2 continued...
PODIAMED LIMITED (REGISTERED NUMBER: 04614102)

BALANCE SHEET - continued
31ST DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1st June 2017 and were signed on its behalf by:





P A Wright - Director


The notes form part of these financial statements

Page 3
PODIAMED LIMITED (REGISTERED NUMBER: 04614102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2016


1. STATUTORY INFORMATION

Podiamed Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and over lease term

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 4 continued...
PODIAMED LIMITED (REGISTERED NUMBER: 04614102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2016


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Going concern
The financial statements have been prepared on the going concern basis as the director has confirmed that he will
continue to support the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2015 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2016
and 31st December 2016 50,000
AMORTISATION
At 1st January 2016 32,500
Charge for year 2,500
At 31st December 2016 35,000
NET BOOK VALUE
At 31st December 2016 15,000
At 31st December 2015 17,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2016
and 31st December 2016 46,002
DEPRECIATION
At 1st January 2016 16,878
Charge for year 3,049
At 31st December 2016 19,927
NET BOOK VALUE
At 31st December 2016 26,075
At 31st December 2015 29,124

Page 5 continued...
PODIAMED LIMITED (REGISTERED NUMBER: 04614102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2016


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts - 532
Taxation and social security 17,265 13,605
Other creditors 1,849 5,997
19,114 20,134

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £58,000 (2015 - £55,000) were paid to the directors .

8. FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102, having previously prepared them
under UK GAAP. The date of transition to FRS 102 was 1 January 2015.


Page 6
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PODIAMED LIMITED


The following reproduces the text of the report prepared for the directors and members in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Podiamed Limited for the year ended 31st December 2016 which comprise the Income
Statement, Balance Sheet and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Podiamed Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Podiamed Limited and state those matters that we have agreed to state to the Board of Directors of Podiamed Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Podiamed Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Podiamed Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Podiamed Limited. You consider that Podiamed Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Podiamed Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Clark Brownscombe
Chartered Accountants
2 St Andrews Place
Lewes
East Sussex
BN7 1UP


5th June 2017

This page does not form part of the statutory financial statements

Page 7