Medi-Zen Healthcare Services Ltd 31/03/2018 iXBRL

Medi-Zen Healthcare Services Ltd 31/03/2018 iXBRL

MEDI-ZEN HEALTHCARE SERVICES LIMITED - Company Information

Print Friendly Version

31/03/2018 2018-03-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-04-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 8570624 2017-04-01 2018-03-31 8570624 2018-03-31 8570624 2017-03-31 8570624 2017-03-31 8570624 core:NetGoodwill 2017-04-01 2018-03-31 8570624 core:FurnitureFittingsToolsEquipment 2017-04-01 2018-03-31 8570624 core:MotorVehicles 2017-04-01 2018-03-31 8570624 bus:RegisteredOffice 2017-04-01 2018-03-31 8570624 bus:LeadAgentIfApplicable 2017-04-01 2018-03-31 8570624 bus:Director1 2017-04-01 2018-03-31 8570624 bus:Director2 2017-04-01 2018-03-31 8570624 bus:Director3 2017-04-01 2018-03-31 8570624 bus:Director4 2017-04-01 2018-03-31 8570624 bus:Director5 2017-04-01 2018-03-31 8570624 core:WithinOneYear 2018-03-31 8570624 core:WithinOneYear 2017-03-31 8570624 core:AfterOneYear 2018-03-31 8570624 core:AfterOneYear 2017-03-31 8570624 core:ShareCapital 2018-03-31 8570624 core:ShareCapital 2017-03-31 8570624 core:RetainedEarningsAccumulatedLosses 2018-03-31 8570624 core:RetainedEarningsAccumulatedLosses 2017-03-31 8570624 core:CostValuation core:Non-currentFinancialInstruments 2018-03-31 8570624 core:Non-currentFinancialInstruments 2018-03-31 8570624 core:Non-currentFinancialInstruments 2017-03-31 8570624 bus:SmallEntities 2017-04-01 2018-03-31 8570624 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 8570624 bus:AbridgedAccounts 2017-04-01 2018-03-31 8570624 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 8570624 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31
Statement of consent to prepare abridged financial statements
All of the members of Medi-Zen Healthcare Services Ltd have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number: 8570624
Medi-Zen Healthcare Services Ltd
Unaudited filleted abridged financial statements
31 March 2018
Medi-Zen Healthcare Services Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Medi-Zen Healthcare Services Ltd
Directors and other information
Directors J Patel
O Singh
H Bhandal
Mrs. R Kaur
Mrs. R Patel
Company number 8570624
Registered office 84 Raddlebarn Road
Selly Oak
Birmingham
B29 6HH
Business address Elder Road
Stoke on Trent
ST6 2JF
Accountants S Pabari & Co
84 Raddlebarn Road
Selly Oak
Birmingham
B29 6HH
Medi-Zen Healthcare Services Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Medi-Zen Healthcare Services Ltd
Year ended 31 March 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2018 which comprise the abridged statement of financial position and 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 unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
S Pabari & Co
Chartered Certified Accountants
84 Raddlebarn Road
Selly Oak
Birmingham
B29 6HH
28 June 2018
Medi-Zen Healthcare Services Ltd
Abridged statement of financial position
31 March 2018
Note £ £ £ £
Fixed assets
Intangible assets 4 2,101,837 2,214,025
Tangible assets 5 62,589 61,561
Investments 6 200 200
_______ _______
2,164,626 2,275,786
Current assets
Stocks 153,653 146,429
Debtors 340,359 332,571
Cash at bank and in hand 513,604 292,402
_______ _______
1,007,616 771,402
Creditors: amounts falling due
within one year ( 1,838,532) ( 1,639,487)
_______ _______
Net current liabilities ( 830,916) ( 868,085)
_______ _______
Total assets less current liabilities 1,333,710 1,407,701
Creditors: amounts falling due
after more than one year ( 1,222,182) ( 1,283,804)
Provisions for liabilities ( 1,140) ( 1,140)
_______ _______
Net assets 110,388 122,757
_______ _______
Capital and reserves
Called up share capital 300 300
Profit and loss account 110,088 122,457
_______ _______
Shareholders funds 110,388 122,757
_______ _______
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their 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 and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 June 2018 , and are signed on behalf of the board by:
J Patel
Director
Company registration number: 8570624
Medi-Zen Healthcare Services Ltd
Notes to the financial statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 84 Raddlebarn Road, Selly Oak, Birmingham, B29 6HH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Intangible assets
£
Cost
At 1 April 2017 and 31 March 2018 2,243,766
_______ |
Amortisation
At 1 April 2017 29,741
Charge for the year 112,188
_______ |
At 31 March 2018 141,929
_______ |
Carrying amount
At 31 March 2018 2,101,837
_______ |
At 31 March 2017 2,214,025
_______ |
5. Tangible assets
£
Cost
At 1 April 2017 73,642
Additions 12,319
_______
At 31 March 2018 85,961
_______
Depreciation
At 1 April 2017 12,081
Charge for the year 11,291
_______
At 31 March 2018 23,372
_______
Carrying amount
At 31 March 2018 62,589
_______
At 31 March 2017 61,561
_______
6. Investments
£
Cost
At 1 April 2017 and 31 March 2018 200
_______
Impairment
At 1 April 2017 and 31 March 2018 -
_______
Carrying amount
At 31 March 2018 200
_______
At 31 March 2017 200
_______