Company Registration No. 08696375 (England and Wales)
Medical Facilities Projects UK Limited
Unaudited accounts
for the year ended 31 December 2024
Medical Facilities Projects UK Limited
Unaudited accounts
Contents
Medical Facilities Projects UK Limited
Company Information
for the year ended 31 December 2024
Company Number
08696375 (England and Wales)
Registered Office
38 Morland Road
Harrow
London
HA3 9LU
Accountants
PV Mehta & Co Ltd
38 Morland Road
Harrow
London
HA3 9LU
Medical Facilities Projects UK Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
1,369
1,845
Creditors: amounts falling due within one year
(1,203,214)
(1,203,214)
Net current liabilities
(878,336)
(877,860)
Net liabilities
(878,336)
(877,860)
Called up share capital
100
100
Profit and loss account
(878,436)
(877,960)
Shareholders' funds
(878,336)
(877,860)
For the year ending 31 December 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2025 and were signed on its behalf by
G Tayoun
Director
Company Registration No. 08696375
Medical Facilities Projects UK Limited
Notes to the Accounts
for the year ended 31 December 2024
Medical Facilities Projects UK Limited is a private company, limited by shares, registered in England and Wales, registration number 08696375. The registered office is 38 Morland Road, Harrow, London, HA3 9LU.
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Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A and Companies Act 2006, as applicable to companies subject to the small companies’ regime.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. The validity of this assumption is on the basis of that the company will continue to be supported by the ultimate controlling party
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, stated net of discounts and Value Added Tax.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Medical Facilities Projects UK Limited
Notes to the Accounts
for the year ended 31 December 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, amounts due from fellow group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Cash and cash equivalents comprise cash balances and call deposits. The cash and cash equivalents are stated at their nominal values, as this approximates to amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors and amounts due to fellow group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Amounts falling due within one year
Amounts due from group undertakings etc.
323,509
323,509
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Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
643,679
643,679
Other creditors
21,286
21,286
Loans from directors
528,440
528,440
Medical Facilities Projects UK Limited
Notes to the Accounts
for the year ended 31 December 2024
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Transactions with related parties
At the year end, the company had balances with the following companies held under common control:
Receivable:
- Europtima France SARL - £81,586 (2023: £81,586)
- Europtima Sp.zoo, Poland - £36,031 (2023: £36,031)
- Europtima International Limited - £6,591 (2023: £6,591)
- GTI Investments Limited - £67,422 (2023: £67,422)
- Europtima Europe Limited £131,880 (2023: £131,880)
Payable:
- GTI Investments SARL - £103,421 (2023: £103,421)
- Europtima International Offshore SAL - £145,650 (2023: £145,650)
- Medical Facilities Projects AG - £394,608 (2023: £394,608)
The immediate parent company is Medical Facilities Projects AG, a company registered in Switzerland.
The ultimate controlling party is G.B. Tayoun, the director of the company.
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Average number of employees
During the year the average number of employees was 0 (2023: 0).