Registered number
12766365
Medical Law & Patient Claims Ltd
Unaudited Filleted Accounts
31 July 2024
Medical Law & Patient Claims Ltd
Registered number: 12766365
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,522 1,543
Current assets
Debtors 4 204,165 78,175
Cash at bank and in hand 46,293 40,420
250,458 118,595
Creditors: amounts falling due within one year 5 (68,173) (36,962)
Net current assets 182,285 81,633
Total assets less current liabilities 220,807 83,176
Creditors: amounts falling due after more than one year 6 (38,316) -
Provisions for liabilities (224) (313)
Net assets 182,267 82,863
Capital and reserves
Called up share capital 200 200
Profit and loss account 182,067 82,663
Shareholders' funds 182,267 82,863
The director is 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 director acknowledges his 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.
Mr A Wright
Director
Approved by the board on 2 December 2024
Medical Law & Patient Claims Ltd
Notes to the Accounts
for the year ended 31 July 2024
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). The financial statements are presented in sterling which the functional currency of the company and are rounded to the nearest £.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Revenue in respect of contingent fee assignments is included in revenue once the contingent event has occured.
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:
Plant and machinery 25% straight line
Motor vehicles 20% reducing balance
Debtors and creditors receivable/payable within one year
Debtor and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 2,165 - 2,165
Additions 1,720 45,249 46,969
At 31 July 2024 3,885 45,249 49,134
Depreciation
At 1 August 2023 622 - 622
Charge for the year 817 9,173 9,990
At 31 July 2024 1,439 9,173 10,612
Net book value
At 31 July 2024 2,446 36,076 38,522
At 31 July 2023 1,543 - 1,543
4 Debtors 2024 2023
£ £
Trade debtors 15,000 -
Other debtors 189,165 78,175
204,165 78,175
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 2,045 -
Trade creditors - 254
Taxation and social security costs 57,748 28,328
Other creditors 8,380 8,380
68,173 36,962
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 38,316 -
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest charged at HMRC's official rate, repayable on demand 8,779 76,440 (78,784) 6,435
8,779 76,440 (78,784) 6,435
8 Other information
Medical Law & Patient Claims Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Shakespeare Drive
Hinckley
Leicestershire
LE10 0BG
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