REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 |
FOR |
BLOOD AND MEDICAL SERVICES LTD |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 |
FOR |
BLOOD AND MEDICAL SERVICES LTD |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2022 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 |
Report of the Independent Auditors | 4 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 |
BLOOD AND MEDICAL SERVICES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 MAY 2022 |
The directors have pleasure in presenting their report and the financial statements of the company Blood and Medical services Limited , registration number 11530768 (England and Wales) for the year ended 31st May 2022. |
REVIEW OF BUSINESS |
The business review sets the performance for the year ended 31st May 2022 and of future developments. |
The Companies Act requires the company to set out in this annual report a fair review of the business of the company during the year ended 31st May 2022, including an analysis of the position of the company at the end of the period and an analysis of the company's performance. |
The sales growth was significantly higher in this year compared to previous reporting period due to a massive demand for PCR testing due to Covid 19 global pandemic. The company is constantly aligning its pricing to reflect economic and political changes. With more competition in the market and the constant economic and political changes, the client retention rate has been affected. The liquidity rate of the company has not been stable and decreased by nearly half as compared to previous year. |
Although there are high chances that the company's ability to trade would be effected because of the end of global pandemic and lesser requirement to get travel PCR tests, the directors are trying their level best to continue and trade. |
By taking good care as we undertake our business in the present we will ensure the long-term sustainability of our business in the future. At the heart of our operation we consider carefully how we interact with the world around us, work hard to minimise our impact and strive to make a positive contribution, taking on board the views of all of our key stakeholders. Corporate Responsibility is a specific business discipline that takes a proactive approach to forward thinking management. It recognises that business decisions have to consider social and environmental factors alongside economic ones. We care about where our garments and material come from, how it is produced, the people who make it and how it is moved & sold. |
With the recent economic and political uncertainty due to the global pandemic COVID-19 and the Brexit, we at Blood & Medical Services Limited are trying our best to keep our business running as smoothly as possible. Daily temperature checks and provision of appropriate sanitizing facilities is the key point at the moment to ensure our staff feel safe and protected. |
We are an equal opportunities employer, committed to giving fair and equal treatment to all employees and job applicants in terms of recruitment, pay conditions, promotions, training and all employment matters regardless of their race, sex, ethnic background or religious beliefs, sexual orientation or disabilities. An equal opportunities policy is in force which aims to ensure that all employees are selected, trained, compensated, promoted and transferred solely on the strength of their ability, skills, qualifications and merit. We also believe that all employees have a right to work in an environment free from discrimination and bullying. |
ON BEHALF OF THE BOARD: |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 31 MAY 2022 |
The director presents his report with the financial statements of the company for the year ended 31 May 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of Cosmetics and other health activity |
DIVIDENDS |
No dividends will be distributed for the year ended 31 May 2022. |
EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
DIRECTOR |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Thapers Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BLOOD AND MEDICAL SERVICES LTD |
Opinion |
We have audited the financial statements of Blood and Medical Services Ltd (the 'company') for the year ended 31 May 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 May 2022 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
Material uncertainty related to going concern |
We draw attention to note 14 in the financial statements, which indicates that due to a significant drop in PCR testing the entity's ability to continue as a going concern is very doubtful. As stated in note 14, these events or conditions, along with the other matters as set forth in note 14, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
In auditing the financial statements, we have concluded that the director's use of non going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors assessment of the entity's ability to continue to adopt the going concern basis of accounting included reviewing the budgets and cash flow forecasts, we also considered the reasonableness of the main assumptions and considered the sensitivity of the information. |
Our responsibilities and the responsibilities of the directors with respect to non going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BLOOD AND MEDICAL SERVICES LTD |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BLOOD AND MEDICAL SERVICES LTD |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
As part of our planning process: |
" We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud. |
" We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006 . |
" We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly. |
" Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. |
The key procedures we undertook to detect irregularities including fraud during the course of the audit included: |
" Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual. |
" Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. |
" Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to depreciation of fixed assets. |
" Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation. |
" Testing key revenue lines, in particular cut-off, for evidence of management bias. |
" Performing a physical verification of key assets. |
" Obtaining third-party confirmation of material bank and loan balances. |
" Documenting and verifying all significant related party balances and transactions. |
" Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud. |
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BLOOD AND MEDICAL SERVICES LTD |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Harpal House |
14 Holyhead Road |
Handsworth |
Birmingham |
West Midlands |
B21 0LT |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MAY 2022 |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(510,944 | ) | 319,998 |
Other operating income |
OPERATING (LOSS)/PROFIT | 4 | ( |
) |
Interest payable and similar expenses | 5 |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit | 6 | ( |
) |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 MAY 2022 |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
Notes | £ | £ |
(LOSS)/PROFIT FOR THE YEAR | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
BALANCE SHEET |
31 MAY 2022 |
31/5/22 | 31/5/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
11 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The financial statements were approved by the director and authorised for issue on |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MAY 2022 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 26 May 2020 | ( |
) | ( |
) |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 May 2021 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 May 2022 | ( |
) | ( |
) |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MAY 2022 |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) |
Interest paid | ( |
) |
Tax paid | ( |
) |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Loan repayments in year | ( |
) |
Amount introduced by directors | 344,290 | 142,900 |
Amount withdrawn by directors | (449,021 | ) | (135,000 | ) |
Equity dividends paid | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
11,053 |
Cash and cash equivalents at end of year | 2 | 118,387 | 467,823 |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MAY 2022 |
1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
(Loss)/profit before taxation | ( |
) |
Depreciation charges |
Finance costs | 1,370 | - |
(306,247 | ) | 340,006 |
Decrease in stocks |
Decrease/(increase) in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 May 2022 |
31.5.22 | 1.6.21 |
£ | £ |
Cash and cash equivalents | 118,387 | 467,823 |
Period ended 31 May 2021 |
31.5.21 | 26.5.20 |
£ | £ |
Cash and cash equivalents | 467,823 | 11,053 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.6.21 | Cash flow | At 31.5.22 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 467,823 | (349,436 | ) | 118,387 |
467,823 | ( |
) | 118,387 |
Total | 467,823 | (349,436 | ) | 118,387 |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2022 |
1. | STATUTORY INFORMATION |
Blood and Medical Services Ltd is a |
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. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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. |
3. | EMPLOYEES AND DIRECTORS |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
Wages and salaries |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2022 |
3. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees during the year was as follows: |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
Total employees |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
Director's remuneration |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2021 - operating profit) is stated after charging: |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
Depreciation - owned assets |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
Bank loan interest |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2022 |
6. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the loss for the year was as follows: |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
Current tax: |
UK corporation tax |
Prev Year Over Provision | (51,971 | ) | - |
Tax on (loss)/profit | ( |
) |
UK corporation tax was charged at 19%) in 2021. |
7. | DIVIDENDS |
PERIOD |
26.5.20 |
YEAR ENDED | TO |
31.5.22 | 31.5.21 |
£ | £ |
Interim |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2021 |
and 31 May 2022 |
DEPRECIATION |
At 1 June 2021 |
Charge for year |
At 31 May 2022 |
NET BOOK VALUE |
At 31 May 2022 |
At 31 May 2021 |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2022 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/22 | 31/5/21 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 104,723 | - |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/22 | 31/5/21 |
£ | £ |
Trade creditors |
Tax | ( |
) |
Social security and other taxes |
Directors' current accounts | - | 8 |
Accrued expenses |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/5/22 | 31/5/21 |
£ | £ |
Other creditors |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/5/22 | 31/5/21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
13. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2021 |
Deficit for the year | ( |
) |
At 31 May 2022 | ( |
) |
BLOOD AND MEDICAL SERVICES LTD (REGISTERED NUMBER: 11530768) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2022 |
14. | RELATED PARTY DISCLOSURES |
During the year Blood and Medical Services Limited entered into transactions with companies/entities in which Mr R Kumar has beneficial interest. The transactions for and amount outstanding at the year end 31st May 2022 were: |
2022 | 2021 |
£ | £ |
Other Debtors |
Due from Related companies | 55,605 | 343,566 |
15. | POST BALANCE SHEET EVENTS |
The directors consider that it is appropriate to prepare the financial statements on a non going concern basis due to the fact that the company is facing great uncertainty due to the significant decrease in the demands for PCR testing. |
The directors have confirmed that the money they owe to the company has been repaid after the year end along with all the intercompany balances to support the business however it is very likely that the company will start taking steps towards going into liquidation soon. |