10 10 Maida Vale Medical Services Limited 09571519 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Medical Practice Digita Accounts Production Advanced 6.30.9574.0 true true 09571519 2023-06-01 2024-05-31 09571519 2024-05-31 09571519 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 09571519 core:FurnitureFittingsToolsEquipment 2024-05-31 09571519 core:OtherPropertyPlantEquipment 2024-05-31 09571519 bus:SmallEntities 2023-06-01 2024-05-31 09571519 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09571519 bus:FilletedAccounts 2023-06-01 2024-05-31 09571519 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09571519 bus:RegisteredOffice 2023-06-01 2024-05-31 09571519 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 09571519 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09571519 bus:Agent1 2023-06-01 2024-05-31 09571519 core:FurnitureFittings 2023-06-01 2024-05-31 09571519 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 09571519 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 09571519 core:PlantMachinery 2023-06-01 2024-05-31 09571519 countries:England 2023-06-01 2024-05-31 09571519 2023-05-31 09571519 core:FurnitureFittingsToolsEquipment 2023-05-31 09571519 core:OtherPropertyPlantEquipment 2023-05-31 09571519 2022-06-01 2023-05-31 09571519 2023-05-31 09571519 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09571519 core:FurnitureFittingsToolsEquipment 2023-05-31 09571519 core:OtherPropertyPlantEquipment 2023-05-31 xbrli:pure iso4217:GBP

Registration number: 09571519

Maida Vale Medical Services Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Maida Vale Medical Services Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Maida Vale Medical Services Limited

Company Information

Director

Dr Hugh E Wright

Company secretary

Dr Hugh E Wright

Registered office

40 Biddulph Mansions
Elgin Avenue
London
W9 1HT

Accountants

Charles Rippin & Turner
Chartered AccountantsMiddlesex House
130 College Road
Harrow
Middlesex
HA1 1BQ

 

Maida Vale Medical Services Limited

(Registration number: 09571519)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

651,202

525,723

Current assets

 

Stocks

5

3,251

3,019

Cash at bank and in hand

 

132,195

211,036

 

135,446

214,055

Creditors: Amounts falling due within one year

(151,400)

(225,522)

Net current liabilities

 

(15,954)

(11,467)

Total assets less current liabilities

 

635,248

514,256

Provisions for liabilities

(1,454)

(1,454)

Accruals and deferred income

 

(8,925)

(8,500)

Net assets

 

624,869

504,302

Capital and reserves

 

Called up share capital

2

2

Retained earnings

624,867

504,300

Shareholders' funds

 

624,869

504,302

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 November 2024
 

 

Maida Vale Medical Services Limited

(Registration number: 09571519)
Abridged Balance Sheet as at 31 May 2024

.........................................
Dr Hugh E Wright
Company secretary and director

 

Maida Vale Medical Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
40 Biddulph Mansions
Elgin Avenue
London
W9 1HT

The principal place of business is:
40 Biddulph Mansions
Elgin Avenue
London
W9 1HT

These financial statements were authorised for issue by the director on 11 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

 

Maida Vale Medical Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% on reducing balance

Furniture and Fittings

20% on reducng balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Maida Vale Medical Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2023 - 10).

 

Maida Vale Medical Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

221,302

351,172

572,474

Additions

-

167,554

167,554

At 31 May 2024

221,302

518,726

740,028

Depreciation

At 1 June 2023

24,484

22,267

46,751

Charge for the year

20,863

21,212

42,075

At 31 May 2024

45,347

43,479

88,826

Carrying amount

At 31 May 2024

175,955

475,247

651,202

At 31 May 2023

196,818

328,905

525,723

5

Stocks

2024
£

2023
£

Other inventories

3,251

3,019