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Registered number: 04431372
The Medical Screening Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04431372
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,540 826
1,540 826
CURRENT ASSETS
Debtors 5 352,930 384,659
Cash at bank and in hand 300,436 473,643
653,366 858,302
Creditors: Amounts Falling Due Within One Year 6 (3 ) (152,357 )
NET CURRENT ASSETS (LIABILITIES) 653,363 705,945
TOTAL ASSETS LESS CURRENT LIABILITIES 654,903 706,771
Creditors: Amounts Falling Due After More Than One Year 7 (27,446 ) (36,459 )
NET ASSETS 627,457 670,312
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 627,447 670,302
SHAREHOLDERS' FUNDS 627,457 670,312
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Ince
Director
27/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Medical Screening Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04431372 . The registered office is Belmont Suite, Paragon Business Park, Chorley New Road, Bolton, BL6 6HG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.33% SL
Fixtures & Fittings 33.33% SL
Computer Equipment 33.33% SL
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 100,830 2,493 45,768 149,091
Additions 699 653 569 1,921
As at 31 March 2024 101,529 3,146 46,337 151,012
Depreciation
As at 1 April 2023 100,570 2,493 45,202 148,265
Provided during the period 571 163 473 1,207
As at 31 March 2024 101,141 2,656 45,675 149,472
Net Book Value
As at 31 March 2024 388 490 662 1,540
As at 1 April 2023 260 - 566 826
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,704 16,313
Other debtors 90,908 90,908
94,612 107,221
Due after more than one year
Directors loan account 258,318 277,438
352,930 384,659
S455 brought forward balance: £90,908.35
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 139,500
Bank loans and overdrafts 371 450
Corporation tax 890 10,453
Other taxes and social security 1,648 1,699
Other creditors (2,919 ) 255
Accruals and deferred income 13 -
3 152,357
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,446 36,459
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Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Other Creditors 24,898 -
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
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