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Registration number: 10279584

Med Onc Professionals Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2021

 

Med Onc Professionals Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Med Onc Professionals Limited

Company Information

Director

Mrs Janerose Chisango

Registered office

25 Stansfield Road
Cambridge
CB5 8NH

 

Med Onc Professionals Limited

Director's Report for the Year Ended 31 July 2021

The director presents her report and the financial statements for the year ended 31 July 2021.

Director of the company

The director who held office during the year was as follows:

Mrs Janerose Chisango

Principal activity

The principal activity of the company is nursing.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 31 July 2022
 

.........................................
Mrs Janerose Chisango
Director

 

Med Onc Professionals Limited

(Registration number: 10279584)
Balance Sheet as at 31 July 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

2,292

2,866

Current assets

 

Debtors

6

33,615

13,183

Cash at bank and in hand

 

2,124

20,085

 

35,739

33,268

Creditors: Amounts falling due within one year

7

(12,640)

(11,049)

Net current assets

 

23,099

22,219

Total assets less current liabilities

 

25,391

25,085

Creditors: Amounts falling due after more than one year

7

(25,000)

(25,000)

Net assets

 

391

85

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

291

(15)

Shareholders' funds

 

391

85

For the financial year ending 31 July 2021 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 her 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.

Approved and authorised by the director on 31 July 2022
 

.........................................
Mrs Janerose Chisango
Director

 

Med Onc Professionals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

1

General information

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

The address of its registered office is:
25 Stansfield Road
Cambridge
CB5 8NH

These financial statements were authorised for issue by the director on 31 July 2022.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

 

Med Onc Professionals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

20% 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Med Onc Professionals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

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 0 (2020 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2021
£

2020
£

Depreciation expense

573

717

 

Med Onc Professionals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2020

3,890

3,890

At 31 July 2021

3,890

3,890

Depreciation

At 1 August 2020

1,024

1,024

Charge for the year

574

574

At 31 July 2021

1,598

1,598

Carrying amount

At 31 July 2021

2,292

2,292

At 31 July 2020

2,866

2,866

6

Debtors

Current

2021
£

2020
£

Other debtors

33,615

13,183

7

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Taxation and social security

11,890

10,299

Accruals and deferred income

750

750

12,640

11,049

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

9

25,000

25,000

 

Med Onc Professionals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

25,000

25,000

10

Dividends

   

2021

 

2020

   

£

 

£

Interim dividend of £50,000.00 (2020 - £46,000.00) per ordinary share

 

50,000

 

46,000

         

11

Related party transactions

 

Med Onc Professionals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

Director's remuneration

The director's remuneration for the year was as follows:

2021
£

2020
£

Remuneration

9,500

8,040