Company Registration No. 08988958 (England and Wales)
Medi-Inn (UK) Ltd
Unaudited accounts
for the year ended 31 December 2017
Medi-Inn (UK) Ltd
Unaudited accounts
Contents
Medi-Inn (UK) Ltd
Company Information
for the year ended 31 December 2017
Director
Mr Mark Anthony Smith
Company Number
08988958 (England and Wales)
Registered Office
Kingfisher House
St Johns Road
Meadowfield
Durham
DH7 8TZ
Accountants
Middlers Accountants
The Old Sweet Shop
Coxhoe
Durham
DH6 4HH
Medi-Inn (UK) Ltd
Statement of financial position
as at 31 December 2017
Inventories
427,940
29,219
Cash at bank and in hand
26,645
30,382
Creditors: amounts falling due within one year
(787,474)
(218,667)
Net current liabilities
(235,671)
(116,525)
Total assets less current liabilities
(230,778)
(115,708)
Provisions for liabilities
Net liabilities
(230,778)
(115,902)
Called up share capital
100
100
Profit and loss account
(230,878)
(116,002)
Shareholders' funds
(230,778)
(115,902)
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 4 August 2018.
Mr Mark Anthony Smith
Director
Company Registration No. 08988958
Medi-Inn (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2017
Medi-Inn (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 08988958. The registered office is Kingfisher House, St Johns Road, Meadowfield, Durham, DH7 8TZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
Computer equipment
20% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Medi-Inn (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2017
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2017
1,295
617
1,912
Disposals
(1,295)
-
(1,295)
At 31 December 2017
-
5,701
5,701
At 1 January 2017
972
123
1,095
Charge for the year
-
685
685
At 31 December 2017
-
808
808
At 31 December 2017
-
4,893
4,893
At 31 December 2016
323
494
817
Finished goods
427,940
29,219
Trade debtors
91,789
42,036
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
574,634
172,758
Amounts owed to group undertakings and other participating interests
204,417
30,620
Taxes and social security
8,332
15,289
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Medi-Inn (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2017
9
Transactions with related parties
During the period the joint majority shareholder Body Products Relax Pharma and Kosmetic GmbH
supplied the company with £513,426 (2016: £41,744) of goods and a balance of £450,157
(2016: £97,278) was due to Body Products Relax Pharma and Kosmetic GmbH at the end of the
period.
During the period, Body Products Relax Pharma and Kosmetic GmbH made a further loan to Medi-
Inn (UK) Ltd of £86,898 (2016: £NIL) the balance of £102,168 was outstanding at the end of
the period.
HCS Hygiene Concept Solutions GmbH
During the period, HCS Hygiene Concept Solutions GmbH made a loan to Medi-
Inn (UK) Ltd of £86,898 (2016: £NIL) the balance of £86,898 was outstanding at the end of
the period.
GHP Far East Limited
During the period, GHP Far East Limited made a further loan to Medi-Inn (UK) Ltd of £NIL (2016: £NIL), the balance of £15,350 was outstanding at the end of the period.
Included in other creditors is a loan owed to Mr M Smith, director of the company, of £91. The loan is interest free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2016: 0).
