Company Registration No. 05957668 (England and Wales)
MEDICAL WRITING LIMITED
Unaudited accounts
for the year ended 31 October 2023
MEDICAL WRITING LIMITED
Unaudited accounts
Contents
MEDICAL WRITING LIMITED
Company Information
for the year ended 31 October 2023
Directors
Dr Cheryl Jenkins
Dr Allan Johnson
Dr Vanessa Lane
Mary Johnson
Company Number
05957668 (England and Wales)
Registered Office
Chalfont St Peter
Buckinghamshire
SL9 9QL
United Kingdom
Accountants
Lane Accounting Limited
Denmark House
143 High Street
Chalfont St Peter
Buckinghamshire
SL9 9QL
MEDICAL WRITING LIMITED
Statement of financial position
as at 31 October 2023
Tangible assets
181,669
157,089
Cash at bank and in hand
160,882
201,423
Creditors: amounts falling due within one year
(14,451)
(59,291)
Net current assets
202,896
200,449
Total assets less current liabilities
384,565
357,538
Creditors: amounts falling due after more than one year
(10,475)
(12,485)
Net assets
374,090
345,053
Called up share capital
390
390
Profit and loss account
373,700
344,663
Shareholders' funds
374,090
345,053
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by
Dr Vanessa Lane
Director
Company Registration No. 05957668
MEDICAL WRITING LIMITED
Notes to the Accounts
for the year ended 31 October 2023
MEDICAL WRITING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05957668. The registered office is Chalfont St Peter, Buckinghamshire, SL9 9QL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% per annum of cost
Motor vehicles
20% per annum of cost
Fixtures & fittings
25% per annum of cost
Computer equipment
25% per annum of cost
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
MEDICAL WRITING LIMITED
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
144,460
52,881
3,593
24,236
225,170
Additions
-
40,250
278
1,791
42,319
Disposals
-
(32,000)
-
-
(32,000)
At 31 October 2023
144,460
61,131
3,871
26,027
235,489
At 1 November 2022
5,934
41,396
3,462
17,289
68,081
Charge for the year
1,978
12,226
203
3,332
17,739
On disposals
-
(32,000)
-
-
(32,000)
At 31 October 2023
7,912
21,622
3,665
20,621
53,820
At 31 October 2023
136,548
39,509
206
5,406
181,669
At 31 October 2022
138,526
11,485
131
6,947
157,089
Amounts falling due within one year
Trade debtors
37,965
46,317
Other debtors
18,500
12,000
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Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
2,010
2,010
Taxes and social security
(49)
38,618
Loans from directors
4,720
2,108
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £2,010 (2022 £2,010). The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
10,475
12,485
Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £10,475 (2022 £12,485). The bank loans are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
MEDICAL WRITING LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
100 Ordinary A shares of £1 each
100
100
190 Ordinary B shares of £1 each
190
190
100 Ordinary C shares of £1 each
100
100
At 31 October 2023 the directors were owed £4,718 by the company in the form of interest bearing loans that are repayable without notice. The loan consists of £762 due to A Johnson (2022 - £2,009) and £3,188 due to C Jenkins (2022 - £19) and £769 due to V Lane (2022 - £80). Interest of £100 was charged in the year by the directors
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Average number of employees
During the year the average number of employees was 5 (2022: 5).