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REGISTERED NUMBER: 03201913 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

MEDICARE SERVICES INSTALLATIONS LTD

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance sheet 1

Notes to the financial statements 3


MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 113,779 98,193

Current assets
Stocks 140,000 90,000
Debtors 5 346,794 569,942
Cash at bank and in hand 572,700 535,775
1,059,494 1,195,717
Creditors
Amounts falling due within one year 6 502,744 562,205
Net current assets 556,750 633,512
Total assets less current liabilities 670,529 731,705

Creditors
Amounts falling due after more than one year 7 (61,529 ) (64,559 )

Provisions for liabilities 10 (22,363 ) (18,078 )
Net assets 586,637 649,068

Capital and reserves
Called up share capital 11 161 161
Capital redemption reserve 51 51
Retained earnings 586,425 648,856
Shareholders' funds 586,637 649,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr D Manning - Director


MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. Statutory information

Medicare Services Installations Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03201913. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 19 Crane Way, Woolsbridge Business Centre, Three Legged Cross, Verwood, Dorset, BH21 6FA.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents total amounts received for the installation and maintenance of medical gas pipelines for the year net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in Progress is valued using the percentage of completion method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 15 (2023 - 15 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 May 2023 567 17,925 184,860 203,352
Additions - 2,618 51,695 54,313
Disposals - - (25,250 ) (25,250 )
At 30 April 2024 567 20,543 211,305 232,415
Depreciation
At 1 May 2023 525 6,786 97,848 105,159
Charge for year 6 2,063 34,018 36,087
Eliminated on disposal - - (22,610 ) (22,610 )
At 30 April 2024 531 8,849 109,256 118,636
Net book value
At 30 April 2024 36 11,694 102,049 113,779
At 30 April 2023 42 11,139 87,012 98,193

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 May 2023 146,215
Additions 51,695
Transfer to ownership (50,164 )
At 30 April 2024 147,746
Depreciation
At 1 May 2023 67,495
Charge for year 32,604
Transfer to ownership (35,673 )
At 30 April 2024 64,426
Net book value
At 30 April 2024 83,320
At 30 April 2023 78,720

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 344,747 566,075
Other debtors 2,047 3,867
346,794 569,942

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 33,775 37,546
Trade creditors 358,518 348,584
Tax 46,864 91,075
PAYE 14,986 13,643
Pension creditor 2,757 2,127
VAT 17,455 41,278
Other creditors 11,486 11,803
Directors' current accounts 948 429
Accruals and deferred income 5,955 5,720
502,744 562,205

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,167 14,167
Hire purchase contracts (see note 8) 47,362 40,392
61,529 64,559

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 33,775 37,546
Between one and five years 47,362 40,392
81,137 77,938

Non-cancellable operating leases
2024 2023
£    £   
Within one year 12,200 12,200
Between one and five years 17,284 29,484
29,484 41,684

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 81,137 77,938

Hire purchase liabilities outstanding at the year end are secured on the assets to which they relate.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 22,363 18,078

Deferred
tax
£   
Balance at 1 May 2023 18,078
Charge to Income statement during year 4,285
Balance at 30 April 2024 22,363

MEDICARE SERVICES INSTALLATIONS LTD (REGISTERED NUMBER: 03201913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
1 Ordinary B £1 1 1
10 Ordinary C £1 10 10
100 Ordinary D £1 100 100
161 161

12. Ultimate controlling party

The company is controlled by the director Mr D Manning who owns 100% of the issued voting share capital.