Registration number:
Medical Assured Group Limited
trading as
for the Year Ended 29 February 2024
Pages for filing with Registrar
Medical Assured Group Limited
trading as Breathe Assured
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Medical Assured Group Limited
trading as Breathe Assured
Company Information
Directors |
Dr T Chesser Dr S Norton |
Registered office |
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Registered number |
12991100 |
Accountant |
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Medical Assured Group Limited
trading as Breathe Assured
(Registration number: 12991100)
Balance Sheet as at 29 February 2024
Note |
2024 |
2023 |
|
Current assets |
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Debtors |
|
30,207 |
|
Cash at bank and in hand |
|
2,611 |
|
391,866 |
32,818 |
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Creditors: Amounts falling due within one year |
(180,841) |
(84,593) |
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Net assets/(liabilities) |
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(51,775) |
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Capital and reserves |
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Called up share capital |
|
100 |
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Profit and loss account |
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(51,875) |
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Total equity |
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(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:
• |
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• |
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
.........................................
Director
Medical Assured Group Limited
trading as Breathe Assured
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
Year ended 29 February 2024 |
1 May 2022 to 28 February 2023 |
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Current taxation |
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UK corporation tax |
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(13,247) |
Medical Assured Group Limited
trading as Breathe Assured
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Debtors: amounts falling due within one year |
2024 |
2023 |
|
Prepayments |
38 |
14,490 |
Other debtors |
|
2,470 |
Corporation tax |
- |
13,247 |
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30,207 |
Creditors |
2024 |
2023 |
|
Amounts falling due within one year |
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Trade creditors |
|
1,167 |
Taxation and social security |
- |
1,782 |
Other creditors |
|
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
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
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100 |