Registered number
07413728
Beacon Medical Services Group Ltd
Filleted Accounts
31 October 2023
Beacon Medical Services Group Ltd
Registered number: 07413728
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 171,052 145,885
Current assets
Debtors 4 2,137,187 3,611,087
Cash at bank and in hand 305,592 1,190,489
2,442,779 4,801,576
Creditors: amounts falling due within one year 5 (1,895,572) (1,613,874)
Net current assets 547,207 3,187,702
Total assets less current liabilities 718,259 3,333,587
Creditors: amounts falling due after more than one year 6 (449,400) (720,000)
Net assets 268,859 2,613,587
Capital and reserves
Called up share capital 2 2
Profit and loss account 268,857 2,613,585
Shareholders' funds 268,859 2,613,587
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr T M Chauhan
Director
Approved by the board on 29 July 2024
Beacon Medical Services Group Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Nil years
Leasehold land and buildings
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 25% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 98 110
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 778,727
Additions 102,289
Disposals (202,921)
At 31 October 2023 678,095
Depreciation
At 1 November 2022 632,842
Charge for the year 57,017
On disposals (182,816)
At 31 October 2023 507,043
Net book value
At 31 October 2023 171,052
At 31 October 2022 145,885
4 Debtors 2023 2022
£ £
Trade debtors 939,359 627,375
Due from Group Undertakings 1,045,700 2,535,000
Other debtors 152,128 448,712
2,137,187 3,611,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 627,395 521,079
Trade creditors 878,132 811,698
Taxation and social security costs 390,045 281,097
1,895,572 1,613,874
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 449,400 720,000
7 Related party transactions
El-Manara Investments Ltd a holding company, owed £1,045,700 to the company. The loan is repayable on demand and interest free.
8 Other information
Beacon Medical Services Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Parkway House Palatine Road
Northenden
Manchester
M22 4DB
Beacon Medical Services Group Ltd 07413728 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts October 2023 release 2 Dr T M Chauhan No description of principal activity 07413728 2021-11-01 2022-10-31 07413728 core:WithinOneYear 2022-10-31 07413728 core:AfterOneYear 2022-10-31 07413728 core:ShareCapital 2022-10-31 07413728 core:RetainedEarningsAccumulatedLosses 2022-10-31 07413728 2022-11-01 2023-10-31 07413728 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07413728 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 07413728 bus:Director40 2022-11-01 2023-10-31 07413728 1 2022-11-01 2023-10-31 07413728 2 2022-11-01 2023-10-31 07413728 core:PlantMachinery 2022-11-01 2023-10-31 07413728 countries:England 2022-11-01 2023-10-31 07413728 bus:FRS102 2022-11-01 2023-10-31 07413728 bus:FullAccounts 2022-11-01 2023-10-31 07413728 2023-10-31 07413728 core:WithinOneYear 2023-10-31 07413728 core:AfterOneYear 2023-10-31 07413728 core:ShareCapital 2023-10-31 07413728 core:RetainedEarningsAccumulatedLosses 2023-10-31 07413728 core:PlantMachinery 2023-10-31 07413728 2022-10-31 07413728 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure