Medical Gases Limited - Accounts to registrar (filleted) - small 18.2
Medical Gases Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| FOR |
| MEDICAL GASES LIMITED |
| MEDICAL GASES LIMITED (REGISTERED NUMBER: 01696776) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MEDICAL GASES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Corner Oak |
| 1 Homer Road |
| Solihull |
| B91 3QG |
| MEDICAL GASES LIMITED (REGISTERED NUMBER: 01696776) |
| BALANCE SHEET |
| 31 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| MEDICAL GASES LIMITED (REGISTERED NUMBER: 01696776) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Medical Gases Limited is a |
| company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| 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. |
| Amounts recoverable on long term contracts |
| Long term contracts are assessed on a contract by contract basis and are reflected in the profit and |
| loss account by recording turnover and related costs as contract activity progresses. Where the |
| outcome of each long term contract can be assessed with reasonable certainty before its conclusion, |
| the attributable profit is recognised in the profit and loss account as the difference between the |
| reported turnover and related costs for that contract. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| MEDICAL GASES LIMITED (REGISTERED NUMBER: 01696776) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts recoverable on contract |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Amounts owed to group undertakings |
| Taxation and social security |
| 6. | CONTINGENT LIABILITIES |
| The bank holds a cross guarantee and debenture over the assets of Medical Gases Limited, Microgas |
| Systems Limited, Puretech Process Systems Limited and UK Gas Technologies Limited. At 31 March |
| 2018 the overdraft for UK Gas Technologies Limited amounted to £638,882 (2017: £1,272,973). |
| 7. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard |
| 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose |
| related party transactions with wholly owned subsidiaries within the group. |
| A J Barrett and G E Littlewood both have a share in the partnership Barwood Technical Services, |
| which invoiced management charges totalling £97,500 (2017: £84,500) during the financial year. |
| 8. | ULTIMATE PARENT COMPANY |
| U.K. Gas Technologies Limited is the parent undertaking of the smallest group within which Medical |
| Gases Limited belongs and for which consolidated group accounts are prepared. |
| The registered office of the parent undertaking is Aztec House, Perrywood Business Park, Salfords, |
| Redhill, Surrey, RH1 5DZ. |