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Registration number: 08940397

Comprehensive Oncology Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Comprehensive Oncology Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Comprehensive Oncology Limited

Company Information

Director

Dr Peter Denzil Correa

Registered office

Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Comprehensive Oncology Limited

(Registration number: 08940397)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

2,455

2,561

Current assets

 

Debtors

5

156,509

97,589

Cash at bank and in hand

 

67,175

83,841

 

223,684

181,430

Creditors: Amounts falling due within one year

6

(15,007)

(23,847)

Net current assets

 

208,677

157,583

Net assets

 

211,132

160,144

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

211,032

160,044

Total equity

 

211,132

160,144

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 July 2018
 

.........................................
Dr Peter Denzil Correa
Director

   
 

Comprehensive Oncology Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Comprehensive Oncology Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

33% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

 

Comprehensive Oncology Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2017

4,656

4,656

Additions

1,122

1,122

At 31 March 2018

5,778

5,778

Depreciation

At 1 April 2017

2,095

2,095

Charge for the year

1,228

1,228

At 31 March 2018

3,323

3,323

Carrying amount

At 31 March 2018

2,455

2,455

At 31 March 2017

2,561

2,561

5

Debtors

Note

2018
£

2017
£

Trade debtors

 

8,409

21,305

Owed by related parties

145,248

76,284

Other debtors

 

2,852

-

Total current trade and other debtors

 

156,509

97,589

Included within the above are debtors falling due over 1 year of £145,248 (2017:£76,284).
 

6

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Amounts owed to related parties

-

1,440

Other creditors

 

15,007

22,407

 

15,007

23,847