Medicontracts Limited 05920812 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is installation of laboratory equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 05920812 2023-09-01 2024-08-31 05920812 2024-08-31 05920812 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-08-31 05920812 core:RetainedEarningsAccumulatedLosses 2024-08-31 05920812 core:ShareCapital 2024-08-31 05920812 core:CurrentFinancialInstruments 2024-08-31 05920812 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05920812 core:FurnitureFittingsToolsEquipment 2024-08-31 05920812 core:MotorVehicles 2024-08-31 05920812 bus:SmallEntities 2023-09-01 2024-08-31 05920812 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05920812 bus:FilletedAccounts 2023-09-01 2024-08-31 05920812 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05920812 bus:RegisteredOffice 2023-09-01 2024-08-31 05920812 bus:Director1 2023-09-01 2024-08-31 05920812 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-01 2024-08-31 05920812 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05920812 core:FurnitureFittings 2023-09-01 2024-08-31 05920812 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 05920812 core:MotorVehicles 2023-09-01 2024-08-31 05920812 countries:EnglandWales 2023-09-01 2024-08-31 05920812 2023-08-31 05920812 core:FurnitureFittingsToolsEquipment 2023-08-31 05920812 core:MotorVehicles 2023-08-31 05920812 2022-09-01 2023-08-31 05920812 2023-08-31 05920812 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-08-31 05920812 core:RetainedEarningsAccumulatedLosses 2023-08-31 05920812 core:ShareCapital 2023-08-31 05920812 core:CurrentFinancialInstruments 2023-08-31 05920812 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05920812 core:FurnitureFittingsToolsEquipment 2023-08-31 05920812 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05920812

Medicontracts Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Medicontracts Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Medicontracts Limited

Company Information

Director

Mr Stephen Ernest Potter

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants and Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Medicontracts Limited

(Registration number: 05920812)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,863

32,703

Current assets

 

Debtors

5

509

1,145

Cash at bank and in hand

 

273,733

320,666

 

274,242

321,811

Creditors: Amounts falling due within one year

6

(5,504)

(14,878)

Net current assets

 

268,738

306,933

Net assets

 

279,601

339,636

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

279,599

339,634

Shareholders' funds

 

279,601

339,636

 

Medicontracts Limited

(Registration number: 05920812)
Balance Sheet as at 31 August 2024

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 6 December 2024
 

.........................................
Mr Stephen Ernest Potter
Director

   
     

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.

 

Medicontracts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the director on 6 December 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 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 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

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Medicontracts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Fixtures, fittings and equipment

20% reducing balance

Motor vehicles

25% reducing 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Medicontracts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

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 1 (2023 - 1).

 

Medicontracts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

35,518

86,088

121,606

Disposals

-

(53,544)

(53,544)

At 31 August 2024

35,518

32,544

68,062

Depreciation

At 1 September 2023

29,173

59,730

88,903

Charge for the year

6,345

4,056

10,401

Eliminated on disposal

-

(42,105)

(42,105)

At 31 August 2024

35,518

21,681

57,199

Carrying amount

At 31 August 2024

-

10,863

10,863

At 31 August 2023

6,345

26,358

32,703

5

Debtors

Current

2024
£

2023
£

Other debtors

509

1,145

 

509

1,145

 

Medicontracts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,382

10,786

Accruals and deferred income

2,350

2,350

Other creditors

772

1,742

5,504

14,878

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2