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REGISTERED NUMBER: 07443646 (England and Wales)

















Medicorum Limited

Financial Statements

for the Year Ended 30 November 2021






Medicorum Limited (Registered number: 07443646)

Contents of the Financial Statements
for the year ended 30 November 2021










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Medicorum Limited

Company Information
for the year ended 30 November 2021







DIRECTORS: Dr S J Pinches
I R Pinches





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 07443646 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Medicorum Limited (Registered number: 07443646)

Statement of Financial Position
30 November 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,305 8,745
Investments 5 6 6
Investment property 6 457,780 457,780
462,091 466,531

CURRENT ASSETS
Debtors 7 201,749 141,019
Cash at bank 253,837 145,437
455,586 286,456
CREDITORS
Amounts falling due within one year 8 51,277 213,199
NET CURRENT ASSETS 404,309 73,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

866,400

539,788

CREDITORS
Amounts falling due after more than one
year

9

-

(185,469

)

PROVISIONS FOR LIABILITIES (640 ) (1,444 )
NET ASSETS 865,760 352,875

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 865,758 352,873
SHAREHOLDERS' FUNDS 865,760 352,875

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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.

Medicorum Limited (Registered number: 07443646)

Statement of Financial Position - continued
30 November 2021


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

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 and authorised for issue on 23 August 2022 and were signed on its behalf by:




Dr S J Pinches - Director



I R Pinches - Director


Medicorum Limited (Registered number: 07443646)

Notes to the Financial Statements
for the year ended 30 November 2021


1. STATUTORY INFORMATION

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

Turnover
Revenue 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings, equipment - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2020 - 2 ) .

Medicorum Limited (Registered number: 07443646)

Notes to the Financial Statements - continued
for the year ended 30 November 2021


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
fittings, Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2020
and 30 November 2021 31,436 93,899 10,250 135,585
DEPRECIATION
At 1 December 2020 25,400 93,899 7,541 126,840
Charge for year 2,793 - 1,647 4,440
At 30 November 2021 28,193 93,899 9,188 131,280
NET BOOK VALUE
At 30 November 2021 3,243 - 1,062 4,305
At 30 November 2020 6,036 - 2,709 8,745

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2020 93,899
Transfer to ownership (93,899 )
At 30 November 2021 -
DEPRECIATION
At 1 December 2020 93,899
Transfer to ownership (93,899 )
At 30 November 2021 -
NET BOOK VALUE
At 30 November 2021 -
At 30 November 2020 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2020
and 30 November 2021 6
NET BOOK VALUE
At 30 November 2021 6
At 30 November 2020 6

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2020
and 30 November 2021 457,780
NET BOOK VALUE
At 30 November 2021 457,780
At 30 November 2020 457,780

Medicorum Limited (Registered number: 07443646)

Notes to the Financial Statements - continued
for the year ended 30 November 2021


6. INVESTMENT PROPERTY - continued

In the opinion of the directors, there has been no material increase in the fair value of the company's investment property since acquisition in 2016.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 201,749 141,019

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 29,820
Hire purchase contracts - 5,255
Trade creditors 12,229 31,954
Taxation and social security 23,386 4,851
Other creditors 15,662 141,319
51,277 213,199

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 149,100
Hire purchase contracts - 36,369
- 185,469

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 29,820

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans - 178,920
Hire purchase contracts - 41,624
- 220,544

Bank loans were secured by legal charges over the company's investment property together with a debenture comprising fixed and floating charges over all assets. The charges were all created on 1 June 2016 and satisfied on 28 July 2021.

Hire purchase liabilities are secured on the assets concerned.