AUM Healthcare Ltd
AUM Healthcare Ltd
Registered number: 04585697
Unaudited Financial Statements
For The Year Ended 28 February 2017
Dhillon Accountants Limited
Chartered Accountants
T/A A Dhillon & Co
61-63 Alexandra Road
Walsall
WS1 4DX
AUM Healthcare Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Statement of Changes in Equity | 4 |
| Notes to the Financial Statements | 5—10 |
AUM Healthcare Ltd
Accountant's Report
For The Year Ended 28 February 2017
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of AUM Healthcare Ltd For The Year Ended 28 February 2017
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of AUM Healthcare Ltd For The Year Ended 28 February 2017 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the directors of AUM Healthcare Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of AUM Healthcare Ltd and state those matters that we have agreed to state to the directors of AUM Healthcare Ltd , as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AUM Healthcare Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that AUM Healthcare Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of AUM Healthcare Ltd . You consider that AUM Healthcare Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of AUM Healthcare Ltd . 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 financial statements.
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Chartered Accountants
T/A A Dhillon & Co
61-63 Alexandra Road
Walsall
WS1 4DX
Page 1
AUM Healthcare Ltd
Balance Sheet
As at
28 February 2017
Balance Sheet
Registered number:
04585697
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| Investments | 7 |
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| CURRENT ASSETS | |||||
| Stocks | 8 |
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| Debtors | 9 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 10 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 11 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 515,536 | 492,106 | |||
Page 2
AUM Healthcare Ltd
Balance Sheet (continued)
As at
28 February 2017
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 5 to 10 form part of these financial statements.
Page 3
AUM Healthcare Ltd
Statement of Changes in Equity
For The Year Ended 28 February 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 March 2015 |
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447,672 |
| Profit for the year and total comprehensive income | - |
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144,434 |
| Dividends paid | - | (100,000) | (100,000) |
| As at 29 February 2016 and 1 March 2016 |
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492,106 |
| Profit for the year and total comprehensive income | - |
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103,430 |
| Dividends paid | - | (80,000) | (80,000) |
| As at |
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515,536 |
Page 4
AUM Healthcare Ltd
Notes to the Unaudited Accounts
For The Year Ended 28 February 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with FRS 102 Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The policies applied under the entity's previous accounting framework are not materially different to FRS102 and have not impacted on equity or profit or loss.
The transitional exemptions available in FRS 102 where applicable are stated in relevant accounting policies.
The functional currency is pound sterling because that is the currency of primary economic environment in which the Company operates. The financial statements are also presented in pounds sterling and rounded to nearest £.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
In the application of company's accounting policies, which are described above, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevent. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision effects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no critical judgments and estimations that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
1.2.
Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
Page 5
AUM Healthcare Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Office Equipments |
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| Motor Vehicles |
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| Fixtures & Fittings |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.7.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
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| Other pension costs |
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Page 6
AUM Healthcare Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
5.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at |
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| As at |
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| Amortisation | |||
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| As at |
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| Net Book Value | |||
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| As at |
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6.
Tangible Assets
| Land & Property | |||||
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| Leasehold | Office Equipments | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at |
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| Additions |
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| As at |
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| Depreciation | |||||
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |||||
| As at |
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Page 7
AUM Healthcare Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
7.
Investments
| Listed | |
|---|---|
| £ | |
| Cost | |
| As at |
25,885 |
| As at |
25,885 |
| Provision | |
| As at |
- |
| As at |
- |
| Net Book Value | |
| As at |
25,885 |
| As at |
25,885 |
8.
Stocks
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - finished goods |
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9.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| VAT |
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| Directors' loan accounts | - | 38,772 | |
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Page 8
AUM Healthcare Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
10.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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11.
Deferred Taxation
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| As at |
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| Deferred taxation |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
13.
Dividends
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 80,000 | 100,000 | ||
Page 9
AUM Healthcare Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
14.
Ultimate Controlling Party
The company is jointly controlled by Mr P and Mrs A Patel, by virtue of their ownership of 100% of the issued share capital in the company.
15.
General Information
AUM Healthcare Ltd Registered number 04585697 is a limited by shares company incorporated in England & Wales. The Registered Office is Wildwood Pharmacy, Co-Op Shopping Centre Cannock Road, Stafford, Staffordshire, ST17 4RA.
Page 10