REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
FOR |
QUALITY MEDICAL GROUP (SERVICES) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
FOR |
QUALITY MEDICAL GROUP (SERVICES) LIMITED |
QUALITY MEDICAL GROUP (SERVICES) LIMITED (REGISTERED NUMBER: 07650967) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
QUALITY MEDICAL GROUP (SERVICES) LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 November 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants. |
Arran House |
42 Gravel Hill |
Ludlow |
Shropshire |
SY8 1QR |
QUALITY MEDICAL GROUP (SERVICES) LIMITED (REGISTERED NUMBER: 07650967) |
BALANCE SHEET |
30 November 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks and work in progress |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
QUALITY MEDICAL GROUP (SERVICES) LIMITED (REGISTERED NUMBER: 07650967) |
BALANCE SHEET - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
QUALITY MEDICAL GROUP (SERVICES) LIMITED (REGISTERED NUMBER: 07650967) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
Quality Medical Group (Services) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks and work in progress to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
QUALITY MEDICAL GROUP (SERVICES) LIMITED (REGISTERED NUMBER: 07650967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2023 |
Additions |
At 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors | 902 | - |
Directors' current accounts | 209,602 | 249 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 194,056 | 194,733 |
Other creditors |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-5 years |
QUALITY MEDICAL GROUP (SERVICES) LIMITED (REGISTERED NUMBER: 07650967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £10,500 were paid to the directors . |
The company occupies premises leased by Dr and Mrs. Davies. The rent and service charges paid by the company to Dr and Mrs. Davies was £13,728 (2023 £13,728) and at the balance sheet date no amount was outstanding. There is no formal lease agreement between the company and Dr and Mrs. Davies. |
During the year the Company advanced a loan to Dr. R.D. Davies of £180,000 with an interest charge of 2% and a loan to A. Davies of £30,000 with an interest charge of 2.5%. |