4 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2024 - FRS102_2024 155,674 54,486 15,567 70,053 85,621 101,188 5,778 4,164 322 4,486 1,292 1,614 46,007 46,007 xbrli:pure xbrli:shares iso4217:GBP 05684938 2024-02-01 2025-01-31 05684938 2025-01-31 05684938 2024-01-31 05684938 2023-02-01 2024-01-31 05684938 2024-01-31 05684938 2023-01-31 05684938 core:NetGoodwill 2024-02-01 2025-01-31 05684938 bus:Director1 2024-02-01 2025-01-31 05684938 core:NetGoodwill 2024-01-31 05684938 core:NetGoodwill 2025-01-31 05684938 core:WithinOneYear 2025-01-31 05684938 core:WithinOneYear 2024-01-31 05684938 core:ShareCapital 2025-01-31 05684938 core:ShareCapital 2024-01-31 05684938 core:RetainedEarningsAccumulatedLosses 2025-01-31 05684938 core:RetainedEarningsAccumulatedLosses 2024-01-31 05684938 core:NetGoodwill 2024-01-31 05684938 core:CostValuation core:Non-currentFinancialInstruments 2025-01-31 05684938 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2025-01-31 05684938 bus:SmallEntities 2024-02-01 2025-01-31 05684938 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 05684938 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 05684938 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05684938 bus:FullAccounts 2024-02-01 2025-01-31 05684938 core:ComputerEquipment 2024-02-01 2025-01-31 05684938 core:ComputerEquipment 2025-01-31 05684938 core:ComputerEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 05684938
MEDICAL & FINANCIAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2025
MEDICAL & FINANCIAL LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
5
85,621
101,188
Tangible assets
6
1,292
1,614
---------
----------
86,913
102,802
Current assets
Debtors
8
393,745
14,702
Cash at bank and in hand
357,343
475,631
----------
----------
751,088
490,333
Creditors: amounts falling due within one year
9
133,984
72,294
----------
----------
Net current assets
617,104
418,039
----------
----------
Total assets less current liabilities
704,017
520,841
----------
----------
Net assets
704,017
520,841
----------
----------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
703,017
519,841
----------
----------
Shareholders funds
704,017
520,841
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MEDICAL & FINANCIAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 17 April 2025 , and are signed on behalf of the board by:
S B Dickerson
Director
Company registration number: 05684938
MEDICAL & FINANCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Silver Lane, Needingworth, St Ives, Cambs, PE27 4SL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents work done during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
155,674
----------
Amortisation
At 1 February 2024
54,486
Charge for the year
15,567
----------
At 31 January 2025
70,053
----------
Carrying amount
At 31 January 2025
85,621
----------
At 31 January 2024
101,188
----------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 February 2024 and 31 January 2025
5,778
5,778
-------
-------
Depreciation
At 1 February 2024
4,164
4,164
Charge for the year
322
322
-------
-------
At 31 January 2025
4,486
4,486
-------
-------
Carrying amount
At 31 January 2025
1,292
1,292
-------
-------
At 31 January 2024
1,614
1,614
-------
-------
7. Investments
Loans to participating interests
£
Cost
At 1 February 2024 and 31 January 2025
46,007
---------
Impairment
At 1 February 2024 and 31 January 2025
46,007
---------
Carrying amount
At 31 January 2025
---------
At 31 January 2024
---------
8. Debtors
2025
2024
£
£
Other debtors
393,745
14,702
----------
---------
9. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
109,445
68,287
Social security and other taxes
130
Other creditors
24,539
3,877
----------
---------
133,984
72,294
----------
---------
10. Controlling party
The company was under the control of the directors, S B Dickerson and J E Roberts, throughout the current and previous year until 1 October 2024. On 1 October 2024 Medical & Financial (Holdings) Limited became the parent company and the ultimate controlling party from this date was S B Dickerson .