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Company No: 09084894 (England and Wales)

MYLES TAYLOR MEDICAL SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

MYLES TAYLOR MEDICAL SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

MYLES TAYLOR MEDICAL SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2023
MYLES TAYLOR MEDICAL SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2023
DIRECTORS Mrs A H Taylor
Mr M J O Taylor
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 09084894 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
MYLES TAYLOR MEDICAL SERVICES LIMITED

BALANCE SHEET

As at 30 June 2023
MYLES TAYLOR MEDICAL SERVICES LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,786 1,418
1,786 1,418
Current assets
Debtors 4 92,515 118,400
Cash at bank and in hand 890,574 672,742
983,089 791,142
Creditors: amounts falling due within one year 5 ( 54,063) ( 52,114)
Net current assets 929,026 739,028
Total assets less current liabilities 930,812 740,446
Provision for liabilities ( 450) ( 350)
Net assets 930,362 740,096
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 930,262 739,996
Total shareholders' funds 930,362 740,096

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Myles Taylor Medical Services Limited (registered number: 09084894) were approved and authorised for issue by the Board of Directors on 03 March 2024. They were signed on its behalf by:

Mr M J O Taylor
Director
MYLES TAYLOR MEDICAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
MYLES TAYLOR MEDICAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Myles Taylor Medical Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:-

Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The principal place of business is:-

Webberton House
2 Belvedere Park
Dunchideock
EX2 9TY

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2022 4,502 4,502
Additions 1,333 1,333
At 30 June 2023 5,835 5,835
Accumulated depreciation
At 01 July 2022 3,084 3,084
Charge for the financial year 965 965
At 30 June 2023 4,049 4,049
Net book value
At 30 June 2023 1,786 1,786
At 30 June 2022 1,418 1,418

4. Debtors

2023 2022
£ £
Trade debtors 91,834 97,649
Amounts owed by directors 0 20,372
Prepayments 681 379
92,515 118,400

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 1,759 0
Accruals 2,200 2,000
Taxation and social security 50,104 50,114
54,063 52,114

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
80 A ordinary shares of £ 1.00 each 80 80
20 B ordinary shares of £ 1.00 each 20 20
100 100

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Loan Account (1,759) 20,372

Interest is charged on the loan from the company at 2.50% and it is repayable on demand.