James Lewis Medical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07908472 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

JAMES LEWIS MEDICAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J C Lewis

REGISTERED OFFICE:

C/O Goring Hall Hospital

Bodiam Avenue

Goring by Sea

Worthing

West Sussex

BN12 5AT

REGISTERED NUMBER:

07908472 (England and Wales)

ACCOUNTANTS:

Accurate Consulting Services Ltd

Harwood House

Park Road

Melton Mowbray

Leicestershire

LE13 1TX

FIXED ASSETS

Tangible assets

4

39

157

CURRENT ASSETS

Debtors

5

512,700

422,695

Cash at bank

6,556

6,527

519,256

429,222

CREDITORS

Amounts falling due within one year

6

176,393

128,027

NET CURRENT ASSETS

342,863

301,195

TOTAL ASSETS LESS CURRENT LIABILITIES

342,902

301,352

PROVISIONS FOR LIABILITIES

7

-

(300,000

)

PENSION LIABILITY

(310,000

)

-

NET ASSETS

32,902

1,352

CAPITAL AND RESERVES

Called up share capital

8

104

104

Retained earnings

9

32,798

1,248

SHAREHOLDERS' FUNDS

32,902

1,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 October 2018 and were signed by:

Mr J C Lewis - Director

1.	STATUTORY INFORMATION

James Lewis Medical Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% Straight line basis

Taxation

Taxation for the year comprises current and deferred tax. 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.

Current or deferred taxation assets 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

For a defined benefit scheme, the liability recorded in the balance sheet is the present value of the defined

obligation at that date. The defined benefit obligation is calculated on an annual basis by independent actuaries.

Actuarial gains and losses are recognised in full in the period in which they occur and are shown in Other

Comprehensive Income.

Current and past service costs, along with settlements or curtailments, are charged to the Income Statement.

Interest on pension plan liabilities are recognised within finance expense.

Provisions

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

and 31 January 2018

353

DEPRECIATION

At 1 February 2017

196

Charge for year

118

At 31 January 2018

314

NET BOOK VALUE

At 31 January 2018

39

At 31 January 2017

157

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

18,559

23,900

Amounts owed by associates

-

79,126

Other debtors

19,293

19,786

Directors' current accounts

474,848

299,883

512,700

422,695

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to associates

75,336

-

Tax

67,233

102,646

Social security and other taxes

5,153

1,468

Other creditors

-

20,109

Accruals and deferred income

28,671

3,804

176,393

128,027

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Other provisions

Pension provision

-

300,000

Pension

provision

£

Balance at 1 February 2017

300,000

Utilised during year

(300,000

)

Balance at 31 January 2018

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

96

Ordinary A

£1

96

96

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

1

Ordinary E

£1

1

1

1

Ordinary F

£1

1

1

1

Ordinary G

£1

1

1

1

Ordinary H

£1

1

1

1

Ordinary I

£1

1

1

104

104

9.

RESERVES

Retained

earnings

£

At 1 February 2017

1,248

Profit for the year

198,550

Dividends

(160,000

)

Actuarial loss

(7,000

)

At 31 January 2018

32,798

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2018 and

31 January 2017:

2018

2017

£

£

Mr J C Lewis

Balance outstanding at start of year

299,883

77,148

Amounts advanced

445,992

366,685

Amounts repaid

(271,027

)

(143,950

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

474,848

299,883

During the current year interest was charged on the director's loan account at 3%/2.5% per annum.

The director's loan was repaid in full within nine months of the year end.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £90,000 (2017 - £75,000) were paid to the director .

12.	EMPLOYER PENSION OBLIGATIONS