Medical Assured Group Limited 12991100 false 2022-05-01 2023-02-28 2023-02-28 The principal activity of the company is that of the provision of Covid-19 testing services. Digita Accounts Production Advanced 6.30.9574.0 true true 12991100 2022-05-01 2023-02-28 12991100 2023-02-28 12991100 bus:OrdinaryShareClass1 2023-02-28 12991100 core:RetainedEarningsAccumulatedLosses 2023-02-28 12991100 core:ShareCapital 2023-02-28 12991100 core:CurrentFinancialInstruments 2023-02-28 12991100 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12991100 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 12991100 bus:SmallEntities 2022-05-01 2023-02-28 12991100 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-02-28 12991100 bus:FullAccounts 2022-05-01 2023-02-28 12991100 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-02-28 12991100 bus:RegisteredOffice 2022-05-01 2023-02-28 12991100 bus:Director1 2022-05-01 2023-02-28 12991100 bus:Director2 2022-05-01 2023-02-28 12991100 bus:OrdinaryShareClass1 2022-05-01 2023-02-28 12991100 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-02-28 12991100 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-05-01 2023-02-28 12991100 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl core:RenderingOrReceivingServices 2022-05-01 2023-02-28 12991100 1 2022-05-01 2023-02-28 12991100 countries:EnglandWales 2022-05-01 2023-02-28 12991100 2020-11-02 2022-04-30 12991100 2022-04-30 12991100 bus:OrdinaryShareClass1 2022-04-30 12991100 core:RetainedEarningsAccumulatedLosses 2022-04-30 12991100 core:ShareCapital 2022-04-30 12991100 core:CurrentFinancialInstruments 2022-04-30 12991100 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 12991100 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl core:RenderingOrReceivingServices 2020-11-02 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12991100

Medical Assured Group Limited

trading as Breathe Assured

Unaudited Filleted Financial Statements

for the Period from 1 May 2022 to 28 February 2023

Pages for filing with Registrar

 

Medical Assured Group Limited

trading as Breathe Assured

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Medical Assured Group Limited

trading as Breathe Assured

Company Information

Directors

Dr T Chesser

Dr S Norton

Registered office

PO Box 2105
Old Barn Office
Olveston
Bristol
BS35 4AQ

Registered number

12991100

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Medical Assured Group Limited

trading as Breathe Assured

(Registration number: 12991100)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Stocks

-

14,622

Debtors

4

30,207

15,047

Cash at bank and in hand

 

2,611

292,393

 

32,818

322,062

Creditors: Amounts falling due within one year

5

(84,593)

(316,862)

Net (liabilities)/assets

 

(51,775)

5,200

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

(51,875)

5,100

Total equity

 

(51,775)

5,200

 

Medical Assured Group Limited

trading as Breathe Assured

(Registration number: 12991100)
Balance Sheet as at 28 February 2023

For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 for issue by the Board on 17 November 2023 and signed on its behalf by:
 

.........................................

Dr T Chesser
Director

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 28 February 2023

1

Statutory information

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

The address of its registered office is:
PO Box 2105
Old Barn Office
Olveston
Bristol
BS35 4AQ

2

Accounting policies

Summary of significant accounting policies

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.

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.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Disclosure of long or short period

These financial statements have been prepared for the shortened period from 1 May 2022 to 28 February 2023, so they are not directly comparable to the prior accounting period.

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 28 February 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured 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.

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 28 February 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are recognised at the transaction price.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 9).

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 28 February 2023

4

Debtors: amounts falling due within one year

2023
£

2022
£

Trade debtors

-

7,216

Prepayments

14,490

-

Other debtors

2,470

7,831

Corporation tax

13,247

-

30,207

15,047

5

Creditors

2023
£

2022
£

Amounts falling due within one year

Trade creditors

1,167

128,949

Taxation and social security

1,782

104,077

Other creditors

75,994

6,786

Accruals

5,650

6,000

Corporation tax

-

71,050

84,593

316,862

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 28 February 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Rendering of services

-

2022

Key management
£

Rendering of services

151,300

Loans from related parties

2023

Entities with joint control or significant influence
£

Advanced

74,000

At end of period

74,000