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Nowmedical Limited |
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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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REGISTERED NUMBER:
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Nowmedical Limited |
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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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Nowmedical Limited (Registered number: 04338252) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Nowmedical Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
1 High Street |
Sheerness |
Kent |
ME12 1NY |
Nowmedical Limited (Registered number: 04338252) |
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Statement of Financial Position |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
Nowmedical Limited (Registered number: 04338252) |
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Statement of Financial Position - continued |
31 December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Nowmedical Limited (Registered number: 04338252) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Nowmedical Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Income recognition |
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates |
and value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
in fair value is recognised in profit or loss. |
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Financial instruments |
The Company enters into basic financial instruments that result in the recognition of financial assets and |
liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties |
and related parties. |
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Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Nowmedical Limited (Registered number: 04338252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2017 |
and 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2017 |
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Additions |
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Revaluations | (422,062 | ) |
At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Fair value at 31 December 2017 is represented by: |
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£ |
Valuation in 2017 | 700,000 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Nowmedical Limited (Registered number: 04338252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 624 | 32,716 |
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Deferred |
tax |
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Balance at 1 January 2017 |
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Credit to Statement of Comprehensive Income during year | ( |
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Balance at 31 December 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary A | £1 | 100 | 100 |
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Ordinary B | £1 | 5 | 5 |
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Ordinary C | £1 | 1 | 1 |
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Ordinary D | £1 | 1 | 1 |
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Ordinary E | £1 | 1 | 1 |
1 | Ordinary F | £1 | 1 | 1 |
109 | 109 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 December 2017 and |
31 December 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Nowmedical Limited (Registered number: 04338252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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11. | RELATED PARTY DISCLOSURES |
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The company operates rent free from premises owned by one of the directors. |