Medical Assured Group Limited 12991100 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of the provision of Covid-19 testing services. Digita Accounts Production Advanced 6.30.9574.0 true true 12991100 2023-03-01 2024-02-29 12991100 2024-02-29 12991100 bus:OrdinaryShareClass1 2024-02-29 12991100 core:RetainedEarningsAccumulatedLosses 2024-02-29 12991100 core:ShareCapital 2024-02-29 12991100 core:CurrentFinancialInstruments 2024-02-29 12991100 bus:SmallEntities 2023-03-01 2024-02-29 12991100 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12991100 bus:FilletedAccounts 2023-03-01 2024-02-29 12991100 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12991100 bus:RegisteredOffice 2023-03-01 2024-02-29 12991100 bus:Director1 2023-03-01 2024-02-29 12991100 bus:Director2 2023-03-01 2024-02-29 12991100 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 12991100 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12991100 core:UKTax 2023-03-01 2024-02-29 12991100 countries:EnglandWales 2023-03-01 2024-02-29 12991100 2022-05-01 2023-02-28 12991100 bus:OrdinaryShareClass1 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12991100

Medical Assured Group Limited

trading as Breathe Assured

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

Pages for filing with Registrar

 

Medical Assured Group Limited

trading as Breathe Assured

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Medical Assured Group Limited

trading as Breathe Assured

Company Information

Directors

Dr T Chesser

Dr S Norton

Registered office

PO Box 2105
Old Barn Office
Olveston
Bristol
BS35 4AQ

Registered number

12991100

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Medical Assured Group Limited

trading as Breathe Assured

(Registration number: 12991100)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

138

30,207

Cash at bank and in hand

 

391,728

2,611

 

391,866

32,818

Creditors: Amounts falling due within one year

6

(180,841)

(84,593)

Net assets/(liabilities)

 

211,025

(51,775)

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

210,925

(51,875)

Total equity

 

211,025

(51,775)

 

Medical Assured Group Limited

trading as Breathe Assured

(Registration number: 12991100)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 3 September 2024 and signed on its behalf by:
 

.........................................

Dr T Chesser
Director

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
PO Box 2105
Old Barn Office
Olveston
Bristol
BS35 4AQ

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Exceptional income

Exceptional income comprises a refund of VAT charged on sales which HMRC subsequently agreed were exempt supplies.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

Year ended 29 February 2024
 £

1 May 2022 to 28 February 2023
 £

Current taxation

UK corporation tax

84,320

(13,247)

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors: amounts falling due within one year

2024
£

2023
£

Prepayments

38

14,490

Other debtors

100

2,470

Corporation tax

-

13,247

138

30,207

6

Creditors

2024
£

2023
£

Amounts falling due within one year

Trade creditors

85,928

1,167

Taxation and social security

-

1,782

Other creditors

3,078

75,994

Accruals

7,515

5,650

Corporation tax

84,320

-

180,841

84,593

 

Medical Assured Group Limited

trading as Breathe Assured

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100