MICHAEL CARLING LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05984158 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

MICHAEL CARLING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Carling

Mrs C M Carling

REGISTERED OFFICE:

72 Harley Street

London

W1G 7HG

REGISTERED NUMBER:

05984158 (England and Wales)

ACCOUNTANTS:

The Greene Partnership LLP

Accountants

Suite A, 10th Floor Maple House

High Street

Potters Bar

Hertfordshire

EN6 5BS

FIXED ASSETS

Intangible assets

4

593,482

634,644

Tangible assets

5

42,341

56,454

635,823

691,098

CURRENT ASSETS

Stocks

4,105

6,691

Debtors

6

146,715

170,506

Cash at bank

11,886

2

162,706

177,199

CREDITORS

Amounts falling due within one year

7

95,161

205,129

NET CURRENT ASSETS/(LIABILITIES)

67,545

(27,930

)

TOTAL ASSETS LESS CURRENT LIABILITIES

703,368

663,168

CREDITORS

Amounts falling due after more than one year

8

-

(12,408

)

PROVISIONS FOR LIABILITIES

10

(6,045

)

(7,041

)

NET ASSETS

697,323

643,719

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

697,223

643,619

SHAREHOLDERS' FUNDS

697,323

643,719

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

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

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.

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 Board of Directors on 21 December 2018 and were signed on its behalf by:

M Carling - Director

1.	STATUTORY INFORMATION

MICHAEL CARLING 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 and

rebates.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2006, and the acquisition

of patient lists from 2008-2011, is being amortised over its estimated useful life of 25 years.

The directors have considered the requirements under Financial Reporting Standard 102 and after undertaking

the annual impairment review they believe there should be no change to the existing amortisation policy.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

1,027,797

AMORTISATION

At 1 April 2017

393,153

Amortisation for year

41,162

At 31 March 2018

434,315

NET BOOK VALUE

At 31 March 2018

593,482

At 31 March 2017

634,644

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

60,928

120,234

25,482

206,644

DEPRECIATION

At 1 April 2017

26,180

108,721

15,289

150,190

Charge for year

8,687

2,878

2,548

14,113

At 31 March 2018

34,867

111,599

17,837

164,303

NET BOOK VALUE

At 31 March 2018

26,061

8,635

7,645

42,341

At 31 March 2017

34,748

11,513

10,193

56,454

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2017

and 31 March 2018

40,442

DEPRECIATION

At 1 April 2017

10,111

Charge for year

7,583

At 31 March 2018

17,694

NET BOOK VALUE

At 31 March 2018

22,748

At 31 March 2017

30,331

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

49,694

31,073

Loan to director

79,976

124,433

Prepayments

17,045

15,000

146,715

170,506

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

-

51,453

Hire purchase contracts

12,408

13,481

Trade creditors

10,256

20,597

Tax

52,606

98,611

Social security and other taxes

404

1,987

Accrued expenses

19,487

19,000

95,161

205,129

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

-

12,408

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank overdraft

-

17,546

Bank loans

-

33,907

Hire purchase contracts

12,408

25,889

12,408

77,342

Bank borrowings are secured by way of a fixed and floating charge over the assets of the company.

The hire purchase contracts are secured on the assets concerned.

10.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

Accelerated capital allowances

6,045

7,041

Deferred

tax

£

Balance at 1 April 2017

7,041

Credit to Income Statement during year

(996

)

Balance at 31 March 2018

6,045

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100