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Registered number: 06827155
MEDICAL DATA SOLUTIONS AND SERVICES LTD
ABRIDGED Financial Statements
For The Year Ended 28 February 2024
John A. Porter & Co.
74 Dickenson Road
Rusholme
Manchester
M14 5HF
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 06827155
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 99,790 69,820
Investments 5 841,206 897,982
940,996 967,802
CURRENT ASSETS
Stocks 6 691,041 512,084
Debtors 423,674 880,012
Cash at bank and in hand 606,336 444,252
1,721,051 1,836,348
Creditors: Amounts Falling Due Within One Year (685,868 ) (744,907 )
NET CURRENT ASSETS (LIABILITIES) 1,035,183 1,091,441
TOTAL ASSETS LESS CURRENT LIABILITIES 1,976,179 2,059,243
Creditors: Amounts Falling Due After More Than One Year (14,220 ) (24,469 )
NET ASSETS 1,961,959 2,034,774
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 1,961,958 2,034,773
SHAREHOLDERS' FUNDS 1,961,959 2,034,774
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 17 December 2024 and were signed on its behalf by:
Dr Robert Hollingsworth
Director
17 December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
MEDICAL DATA SOLUTIONS AND SERVICES LTD is a private company, limited by shares, incorporated in England & Wales.
The registered number is 06827155 .
The registered office was changed to Suite 1, 2nd Floor of Anchorage One, Anchorage quay, Salford Quays, M50 3YJ on 24 August 2023.
Dividends paid to the Directors are reported in the notes to the accounts.
Transactions with ERHIT Limited are reported in the notes to the accounts.
There are no other related party transactions to report.
There are no contingent liabilities or post balance sheet events to report.
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 represents the addition of grants received and net invoiced sales of goods and services excluding Value Added Tax (VAT).
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.
Depreciation is calculated at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 20% Reducing Balance
No depreciation is provided in the year of acquisition.
2.4. Stocks and Work in Progress
Stock is 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 at the prime cost of labour and materials plus other direct expenses.
2.5. Foreign Currencies
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on transactions are included in the profit and loss account.
2.6. Pensions
The company operates three defined pension contribution schemes.
Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Investments & Investment Income
Investments are stated at mid-market value at the balance sheet date. Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year. 
Investment income comprises investment income, realised and unrealised investment gains and losses less investment expenses. Realised investment gains and losses are calculated as the difference between net proceeds on disposal and their purchase price.
All investments are in companies quoted on the London Stock Exchange.
2.8. Accounting Reference Date
The accounting reference date has been changed from 27 February to 26 February.
These accounts are nevertheless for the year ended 28 February 2024.
2.9. Comparative Figures
The comparative figures reported throughout these accounts are as at 28 February 2023 or are for the year ended on that date.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 20 18
Directors - 2
20 20
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 163,723
Additions 55,932
Disposals (96,931 )
As at 28 February 2024 122,724
Depreciation
As at 1 March 2023 93,903
Provided during the period 13,332
Disposals (84,301 )
As at 28 February 2024 22,934
Net Book Value
As at 28 February 2024 99,790
As at 1 March 2023 69,820
5. Investments
Total
£
Cost
As at 1 March 2023 897,982
Additions 46,131
Revaluations (102,907 )
As at 28 February 2024 841,206
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 841,206
As at 1 March 2023 897,982
Investments are stated at mid-market value at the balance sheet date.
Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year.
The historical cost of the investments are £986,593 (2023 £940,823).
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6. Stocks
2024 2023
£ £
Work in progress 691,041 512,084
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 0.50 each 1 1
Issued Ordinary R Voting and Ordinary E Voting Shares of 50p from 1 March 2012 to 28 February 2024.
- Dr Robert Hollingsworth owns 1 50p ordinary R voting share
- Mrs Emma Hollingsworth owns 1 50p ordinary E voting share
8. Pension Commitments
The company operates two defined contribution pension schemes.
The assets of the schemes are held separately from those of the company in an independently administered fund. At the balance sheet date contributions of £3,389 (2023 £3,265) were due to the fund and are included in Other Creditors.
9. Related Party Transactions
A new Company, ERHIT Limited was formed in August 2011 to pursue new trading opportunities unconnected to existing contracts which constitute the basis of trade of MEDICAL DATA SOLUTIONS AND SERVICES LTD.
ERHIT Limited is owned and controlled by Dr Robert Hollingsworth and Dr Emma Hollingsworth and is therefore an associated Company.
The expense base of the combined entities is focused within MEDICAL DATA SOLUTIONS AND SERVICES LTD. An equable allocation of expenses and division of profits between each company is achieved by means of contract charges levied on ERHIT Limited by MEDICAL DATA SOLUTIONS AND SERVICES LTD.
Contract charges levied on ERHIT Limited as adjusted for opening and closing accruals and included in turnover were as follows: £599,000 (2023 £464,000)
Amount due from ERHIT Limited included in trade debtors £705,633 (2022 £372,599)
Contract charges for the year ended 28 February 2024 totalling £484,000 (2023 £464,000) excluding VAT were invoiced by MEDICAL DATA SOLUTIONS AND SERVICES LTD. in two equal instalments on 1 September 2023 and on 1 March 2024. The second instalment of £242,000 is included in work in progress.
A further accrual of £115,000 for wages and direct costs for the year ended 28 February 2024 has been incorporated and follows a review of total wages paid by MEDICAL DATA SOLUTIONS AND SERVICES LTD. in the year.
In addition to the above, this year wages and other direct costs include a sum of £135,010 to equate to the amounts billed to ERHIT Limited in the year for support of the International Burn Injury Database, formerly invoiced through MEDICAL DATA SOLUTIONS AND SERVICES LTD.
10. Ultimate Controlling Party
The Company was controlled by Dr Robert Hollingsworth and Mrs Emma Hollingsworth who each held one 50p Ordinary Voting Share there being two 50p Ordinary Voting Shares in issue.
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