Medical Solutions UK Limited - Accounts to registrar (filleted) - small 17.3
Medical Solutions UK Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| MEDICAL SOLUTIONS UK LIMITED |
| MEDICAL SOLUTIONS UK LIMITED (REGISTERED NUMBER: 03766413) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 May 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MEDICAL SOLUTIONS UK LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 May 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Atticus House |
| 2 The Windmills |
| Turk Street |
| Alton |
| Hampshire |
| GU34 1EF |
| MEDICAL SOLUTIONS UK LIMITED (REGISTERED NUMBER: 03766413) |
| BALANCE SHEET |
| 31 May 2017 |
| 2017 | 2016 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 2,633,429 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| MEDICAL SOLUTIONS UK LIMITED (REGISTERED NUMBER: 03766413) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 May 2017 |
| 1. | STATUTORY INFORMATION |
| Medical Solutions UK Limited is a private company, limited by shares, registered in England and Wales. The company's |
| registered number and registered office can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year that the company has presented its financial statements in accordance with the provision of Financial |
| Reporting Standard 102 section 1A Small Entities (FRS 102 1A) issued by the Financial Reporting Council. the |
| comparative amounts have been restated accordingly. Therefore, the date of transition is 1 June 2015. |
| There have been no changes to the accounting policies of the company as a consequence of adopting FRS 102 1A. As a |
| result, upon transition to FRS 102 1A, there has been no impact on the company's financial position or financial |
| performance. |
| Changes in accounting policies |
| Medical Solutions UK Limited has changed from cash based to accrual based accounting. This has been applied |
| retrospectively. See note 5 for further information. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
| tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Fixed assets are stated at their cost prices, less accumulated depreciation and amounts recognised in respect of impairment. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction |
| price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Taxation |
| Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it |
| relates to items recognised in other comprehensive income or directly in equity. |
| Current taxation and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MEDICAL SOLUTIONS UK LIMITED (REGISTERED NUMBER: 03766413) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 May 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| MEDICAL SOLUTIONS UK LIMITED (REGISTERED NUMBER: 03766413) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 May 2017 |
| 8. | OTHER FINANCIAL COMMITMENTS |
| A floating charge debenture was issued on the 25th May 2017, which is secured over the assets of the company. |
| 9. | RELATED PARTY DISCLOSURES |
| The property and vehicle amounting to £889,859 (2016: nil) disposed of during the year were sold to the directors of |
| Medical Solution UK Limited, Mr B Tranter and Ms E J Walton. The transactions took place under market value. |
| During the period Medical Solutions UK Limited paid a dividend to its parent company MedSol Holding no.2 Ltd of |
| £3,170,522 (2016:nil). |
| 10. | ULTIMATE CONTROLLING PARTY |
| During the year Medical Solutions UK Limited was acquired by MedSol Holding No. 2 Ltd. The ultimate parent company |
| of MedSol Holding No. 2 Ltd is Medtop Healthcare Ltd. As Medtop Healthcare Ltd is a joint venture there is no ultimate |
| controlling party. |
| MedSol Holding No. 2 Ltd has a registered office and principal place of business at 10 Upper Berkeley Street, London, |
| W1H 7PE. |