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Company registration number: 03880138
M.C. NURSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2024
M.C. NURSE LIMITED
Contents
Directors report
Accountant's report
Statement of financial position
Notes to the financial statements
M.C. NURSE LIMITED
Directors report
Year ended 31 May 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2024.
Directors
The directors who served the company during the year were as follows:
Mr M C Nurse
Mrs B A Nurse
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 July 2024 and signed on behalf of the board by:
Mr M C Nurse
Director
M.C. NURSE LIMITED
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of M.C. Nurse Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of M.C. Nurse Limited for the year ended 31 May 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of M.C. Nurse Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of M.C. Nurse Limited and state those matters that we have agreed to state to the board of directors of M.C. Nurse Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than M.C. Nurse Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that M.C. Nurse Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M.C. Nurse Limited. You consider that M.C. Nurse Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of M.C. Nurse Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Robert Pola
Chartered Accountant
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
22 July 2024
M.C. NURSE LIMITED
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 140,718 134,619
_______ _______
140,718 134,619
Current assets
Stocks 341,100 281,100
Debtors 7 459,150 633,518
Cash at bank and in hand 146,809 53,144
_______ _______
947,059 967,762
Creditors: amounts falling due
within one year 8 ( 463,480) ( 500,642)
_______ _______
Net current assets 483,579 467,120
_______ _______
Total assets less current liabilities 624,297 601,739
Creditors: amounts falling due
after more than one year 9 ( 20,833) ( 30,833)
Provisions for liabilities 10 ( 26,736) ( 25,578)
_______ _______
Net assets 576,728 545,328
_______ _______
Capital and reserves
Called up share capital 12 100 100
Profit and loss account 576,628 545,228
_______ _______
Shareholders funds 576,728 545,328
_______ _______
For the year ending 31 May 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 July 2024 , and are signed on behalf of the board by:
Mr M C Nurse
Director
Company registration number: 03880138
M.C. NURSE LIMITED
Notes to the financial statements
Year ended 31 May 2024
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
3. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
4. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 41,430 43,809
Impairment of tangible assets 798 461
_______ _______
5. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 48,819 48,119
Adjustments in respect of previous periods ( 2) -
_______ _______
Deferred tax:
Origination and reversal of timing differences 1,158 ( 8,707)
_______ _______
Tax on profit 49,975 39,412
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 168,721 15,729 213,165 397,615
Additions - - 48,327 48,327
_______ _______ _______ _______
At 31 May 2024 168,721 15,729 261,492 445,942
_______ _______ _______ _______
Depreciation
At 1 June 2023 136,956 12,535 113,505 262,996
Charge for the year 7,941 798 33,489 42,228
_______ _______ _______ _______
At 31 May 2024 144,897 13,333 146,994 305,224
_______ _______ _______ _______
Carrying amount
At 31 May 2024 23,824 2,396 114,498 140,718
_______ _______ _______ _______
At 31 May 2023 31,765 3,194 99,660 134,619
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 103,324 107,846
Amounts owed by group undertakings 355,826 524,805
Other debtors - 867
_______ _______
459,150 633,518
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 149,554 211,691
Amounts owed to group undertakings 186,042 137,906
Corporation tax 48,819 48,119
Social security and other taxes 54,720 63,059
Other creditors 24,345 39,867
_______ _______
463,480 500,642
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 20,833 30,833
_______ _______
10. Provisions
Deferred tax (note 11) Total
£ £
At 1 June 2023 25,578 25,578
Additions 1,158 1,158
_______ _______
At 31 May 2024 26,736 26,736
_______ _______
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 10) 26,736 25,578
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 26,736 25,578
_______ _______
12. Called up share capital
Authorised share capital
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______