Braceys Accountants (Medical) Limited Micro-entity accounts

Braceys Accountants (Medical) Limited Micro-entity accounts

BRACEY'S ACCOUNTANTS (MEDICAL) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08903245
Braceys Accountants (Medical) Limited
Unaudited Financial Statements
31 January 2017
Braceys Accountants (Medical) Limited
Financial Statements
Year ended 31 January 2017
Contents
Page
Report to the director on the preparation of the unaudited statutory financial statements
1
Income statement
2
Statement of financial position and the notes to the financial statements
3
The following pages do not form part of the financial statements
Detailed income statement
6
Notes to the detailed income statement
7
Braceys Accountants (Medical) Limited
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Braceys Accountants (Medical) Limited
Year ended 31 January 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Braceys Accountants (Medical) Limited for the year ended 31 January 2017, which comprise the income statement, statement of financial position and the notes to the financial statements from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Braceys Accountants (Medical) Limited in accordance with the terms of our engagement letter dated ***Please fill in the Date of Engagement in field 9 of Client Database > Setup > Action Dates***. Our work has been undertaken solely to prepare for your approval the financial statements of Braceys Accountants (Medical) Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Braceys Accountants (Medical) Limited and its director for our work or for this report.
It is your duty to ensure that Braceys Accountants (Medical) 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 Braceys Accountants (Medical) Limited. You consider that Braceys Accountants (Medical) 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 Braceys Accountants (Medical) 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.
BRACEY'S ACCOUNTANTS LIMITED Chartered accountant
Unit 1, The Cam Centre Wilbury Way Hitchin Hertfordshire United Kingdom SG4 0TW
30 October 2017
Braceys Accountants (Medical) Limited
Income Statement
Year ended 31 January 2017
2017
2016
£
£
Turnover
57,218
28,610
Cost of raw materials and consumables
5,364
725
Staff costs
16,857
9,510
Depreciation and other amounts written off assets
178
237
Other charges
28,400
11,024
Tax
( 142)
1,436
--------
--------
Profit
6,561
5,678
--------
--------
Braceys Accountants (Medical) Limited
Statement of Financial Position
31 January 2017
2017
2016
£
£
£
Fixed assets
533
711
----
----
Current assets
26,481
19,558
Prepayments and accrued income
978
2,978
--------
--------
27,459
22,536
Creditors: amounts falling due within one year
35,645
16,297
--------
--------
Net current (liabilities)/assets
( 8,186)
6,239
-------
-------
Total assets less current liabilities
( 7,653)
6,950
Creditors: amounts falling due after more than one year
4,629
5,651
Provisions for liabilities
-
142
Accruals and deferred income
750
750
--------
-------
(13,032)
407
--------
-------
Capital and reserves
( 13,032)
407
--------
----
Notes to the financial statements
1. Other spare note 98 heading
The company was under the control of PGB Asset Holdings Limited throughout the year. Peter Bracey, director of the company is the majority shareholder and director of PGB Asset Holdings Limited.
2. Other spare note 99 heading
At the balance sheet date the company owed Nipun Gupta , director of the company £13,059 (2015: £2,702) and PGB Asset Holdings Limited £4,214. Also at the balance sheet date the company owed £0 (2015: £2,976) to Bracey's Accountants Limited. Bracey's Accountants (Medical) Limited, Bracey's Accountants Limited and PGB Asset Holdings Limited are related by way of Peter Bracey, being a common director. There are no terms relating to the payment of interest or repayment of capital.
For the year ending 31 January 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 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 financial statements have been prepared in accordance with the micro-entity provisions.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2017 , and are signed on behalf of the board by:
Nipun Gupta
Director
Company registration number: 08903245
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, The Cam Centre, Wilbury Way, Hitchin, Hertfordshire, SG4 0TW.
Braceys Accountants (Medical) Limited
Management Information
Year ended 31 January 2017
The following page does not form part of the financial statements.
Braceys Accountants (Medical) Limited
Detailed Income Statement
Year ended 31 January 2017
2017
2016
£
£
Turnover
57,218
28,610
Cost of raw materials and consumables
Company formation costs
285
100
Staff recharges
4,819
508
Companies house fees
260
117
-------
----
5,364
725
-------
----
Staff costs
16,857
9,510
Depreciation and other amounts written off assets
178
237
Other charges
28,400
11,024
--------
--------
6,419
7,114
--------
--------
Braceys Accountants (Medical) Limited
Notes to the Detailed Income Statement
Year ended 31 January 2017
2017
2016
£
£
Staff costs
Wages and salaries
8,805
2,800
Directors salaries
8,052
6,710
--------
-------
16,857
9,510
--------
-------
Depreciation and other amounts written off assets
Depreciation of tangible assets
178
237
----
----
Other charges
Software
723
251
Abbey tax
780
293
Franchise Charges
2,373
-
Professional Subscriptions
1,000
-
Commissions paid
175
-
Courses and Conferences
415
-
Rent and management charges
2,400
2,400
Business Insurance
420
-
Repairs and maintenance (allowable)
456
-
Cleaning costs
418
-
Motor expenses
2,077
916
Travel and subsistence
1,425
261
Telephone
875
360
Computer Expenses
719
-
Printing postage and stationery
1,325
174
Staff training
499
445
Staff welfare
530
98
Use of premises
720
260
Advertising
8,797
4,407
Telemarketing
-
250
Bank charges
107
70
Legal and professional fees (allowable)
-
89
Fines and Penalties
600
-
Accountancy fees
1,566
750
--------
--------
28,400
11,024
--------
--------