ACCOUNTS - Final Accounts preparation

SAFAR PRIMARY CARE LTD - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-10-312017-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseGeneral medical practice activitiesfalse2016-11-01 09839107 2016-11-01 2017-10-31 09839107 2017-10-31 09839107 2016-10-31 09839107 c:Director1 2016-11-01 2017-10-31 09839107 d:OfficeEquipment 2016-11-01 2017-10-31 09839107 d:OfficeEquipment 2017-10-31 09839107 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-11-01 2017-10-31 09839107 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2016-11-01 2017-10-31 09839107 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2017-10-31 09839107 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2016-10-31 09839107 d:CurrentFinancialInstruments 2017-10-31 09839107 d:CurrentFinancialInstruments 2016-10-31 09839107 d:CurrentFinancialInstruments d:WithinOneYear 2017-10-31 09839107 d:CurrentFinancialInstruments d:WithinOneYear 2016-10-31 09839107 d:ShareCapital 2017-10-31 09839107 d:ShareCapital 2016-10-31 09839107 d:RetainedEarningsAccumulatedLosses 2017-10-31 09839107 d:RetainedEarningsAccumulatedLosses 2016-10-31 09839107 c:FRS102 2016-11-01 2017-10-31 09839107 c:AuditExempt-NoAccountantsReport 2016-11-01 2017-10-31 09839107 c:FullAccounts 2016-11-01 2017-10-31 09839107 c:PrivateLimitedCompanyLtd 2016-11-01 2017-10-31 iso4217:GBP xbrli:pure

Registered number: 09839107

SAFAR PRIMARY CARE LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2017

SAFAR PRIMARY CARE LTD

REGISTERED NUMBER: 09839107

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2017

		2017		2016
Note		£		£

Fixed assets
Intangible assets	3		89,117		7,115
Tangible assets			2,153		-
			91,270		7,115
Current assets
Cash at bank and in hand		4		203
		4		203
Creditors: amounts falling due within one year	5	(188,191)		(53,406)
Net current liabilities			(188,187)		(53,203)
Total assets less current liabilities			(96,917)		(46,088)

Net liabilities			(96,917)		(46,088)

Capital and reserves
Called up share capital	6	100	100
Profit and loss account		(97,017)	(46,188)
		(96,917)	(46,088)

Page 1

SAFAR PRIMARY CARE LTD

REGISTERED NUMBER: 09839107

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2017

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Dr F Shamshad

Director

Date: 10 October 2018

The notes on pages 3 to 6 form part of these financial statements.

Page 2

SAFAR PRIMARY CARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

1.	General information

Safar Primary Care Limited is a private company limited by shares incorporated in England within the United Kingdom, registration number 09839107. The address of the registered office is given in the company information of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company is reliant on the support of the directors. This is expected to continue for the next twelve months.

2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 3

SAFAR PRIMARY CARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

2.Accounting policies (continued)

2.5

Borrowing costs

All borrowing costs are recognised in the Income Statement in the Year in which they are incurred.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 4

SAFAR PRIMARY CARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

3.	Intangible assets

		Website Development
		£
	Cost
	At 1 November 2016	7,200
	Additions	91,913
	At 31 October 2017	99,113
	Amortisation
	At 1 November 2016	85
	Charge for the year	9,911
	At 31 October 2017	9,996
	Net book value
	At 31 October 2017	89,117
	At 31 October 2016	7,115

Page 5

SAFAR PRIMARY CARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	Additions	2,871
	At 31 October 2017	2,871
	Depreciation
	Charge for the Year on owned assets	718
	At 31 October 2017	718
	Net book value
	At 31 October 2017	2,153
	At 31 October 2016	-

5.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Bank overdrafts	3,328	-
Other creditors	170,039	51,606
Accruals and deferred income	14,824	1,800
	188,191	53,406

6.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

100 (2016 - 100) Ordinary shares of £1.00 each	100	100

Page 6