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REGISTERED NUMBER: 03201913 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

MEDICARE SERVICES INSTALLATIONS LTD

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Balance sheet 1

Notes to the financial statements 3


MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 98,193 98,195

Current assets
Stocks 90,000 108,500
Debtors 5 569,942 726,816
Cash at bank and in hand 535,775 46,579
1,195,717 881,895
Creditors
Amounts falling due within one year 6 562,205 414,916
Net current assets 633,512 466,979
Total assets less current liabilities 731,705 565,174

Creditors
Amounts falling due after more than one year 7 (64,559 ) (92,761 )

Provisions for liabilities 10 (18,078 ) (13,425 )
Net assets 649,068 458,988

Capital and reserves
Called up share capital 11 161 161
Capital redemption reserve 51 51
Retained earnings 648,856 458,776
Shareholders' funds 649,068 458,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

BALANCE SHEET - continued
30 APRIL 2023


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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





Mr D Manning - Director


MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. Statutory information

Medicare Services Installations Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03201913. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 19 Crane Way, Woolsbridge Business Centre, Three Legged Cross, Verwood, Dorset, BH21 6SP.

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
Turnover represents total amounts received for the installation and maintenance of medical gas pipelines for the year net of value added tax.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in Progress is valued using the percentage of completion method.

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 taxation
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. Accounting policies - continued

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 15 (2022 - 15 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 May 2022 567 14,364 169,469 184,400
Additions - 3,561 42,890 46,451
Disposals - - (27,499 ) (27,499 )
At 30 April 2023 567 17,925 184,860 203,352
Depreciation
At 1 May 2022 518 4,820 80,867 86,205
Charge for year 7 1,966 29,003 30,976
Eliminated on disposal - - (12,022 ) (12,022 )
At 30 April 2023 525 6,786 97,848 105,159
Net book value
At 30 April 2023 42 11,139 87,012 98,193
At 30 April 2022 49 9,544 88,602 98,195

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 May 2022 121,825
Additions 42,890
Disposals (18,500 )
At 30 April 2023 146,215
Depreciation
At 1 May 2022 45,880
Charge for year 26,240
Eliminated on disposal (4,625 )
At 30 April 2023 67,495
Net book value
At 30 April 2023 78,720
At 30 April 2022 75,945

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 566,075 726,816
Other debtors 3,867 -
569,942 726,816

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 37,546 29,906
Trade creditors 348,584 292,538
Tax 91,075 37,839
PAYE 13,643 8,381
Pension creditor 2,127 1,826
VAT 41,278 7,204
Other creditors 11,803 21,598
Directors' current accounts 429 229
Accruals and deferred income 5,720 5,395
562,205 414,916

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 14,167 24,167
Hire purchase contracts (see note 8) 40,392 52,020
Other creditors - 6,574
64,559 92,761

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 37,546 29,906
Between one and five years 40,392 52,020
77,938 81,926

Non-cancellable operating leases
2023 2022
£    £   
Within one year 12,200 12,200
Between one and five years 29,484 41,685
41,684 53,885

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 77,938 81,926

Hire purchase liabilities outstanding at the year end are secured on the assets to which they relate.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 18,078 13,425

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


10. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 May 2022 13,425
Charge to Income statement during year 4,653
Balance at 30 April 2023 18,078

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
1 Ordinary B £1 1 1
10 Ordinary C £1 10 10
100 Ordinary D £1 100 100
161 161

12. Ultimate controlling party

The company is controlled by the director Mr D Manning who owns 100% of the issued voting share capital.