Company Registration No. 07126043 (England and Wales)
LIFESCIENCES HEALTHCARE LIMITED
DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
LIFESCIENCES HEALTHCARE LIMITED
COMPANY INFORMATION
Director
Dr G Lushai
Company number
07126043
Registered office
Kings Parade
Lower Coombe Street
Croydon
CR0 1AA
Accountants
Bryden Johnson
Kings Parade
Lower Coombe Street
Croydon
CR0 1AA
Business address
The Engine Shed
Station Approach
Bristol
BS1 6QH
LIFESCIENCES HEALTHCARE LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 8
LIFESCIENCES HEALTHCARE LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The director presents his report and financial statements for the year ended 31 March 2015.
Principal activities
The principal activity of the company continued to be that of consulting to the healthcare industry.
Director
The following director has held office since 1 April 2014:
Dr G Lushai
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Dr G Lushai
Director
15 December 2015
LIFESCIENCES HEALTHCARE LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LIFESCIENCES HEALTHCARE LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lifesciences Healthcare Limited for the year ended 31 March 2015 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Lifesciences Healthcare Limited, as a body, in accordance with the terms of our engagement letter dated 14 August 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Lifesciences Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of Lifesciences Healthcare Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lifesciences Healthcare Limited and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Lifesciences Healthcare Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lifesciences Healthcare Limited. You consider that Lifesciences Healthcare Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lifesciences Healthcare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Bryden Johnson
21 December 2015
Chartered Accountants
Kings Parade
Lower Coombe Street
Croydon
CR0 1AA
LIFESCIENCES HEALTHCARE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2015
2014
Notes
£
£
Turnover
31,486
47,761
Cost of sales
(3,206)
(1,944)
Gross profit
28,280
45,817
Administrative expenses
(22,594)
(27,970)
Operating profit
2
5,686
17,847
Other interest receivable and similar income
3
-
1
Profit on ordinary activities before taxation
5,686
17,848
Tax on profit on ordinary activities
4
-
-
Profit for the year
10
5,686
17,848
LIFESCIENCES HEALTHCARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 4 -
2015
2014
Notes
£
£
£
£
Current assets
Debtors
6
10,500
7,384
Cash at bank and in hand
399
221
10,899
7,605
Creditors: amounts falling due within one year
7
(10,907)
(7,769)
Total assets less current liabilities
(8)
(164)
Creditors: amounts falling due after more than one year
8
(20,789)
(26,319)
(20,797)
(26,483)
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
10
(20,897)
(26,583)
Shareholders' funds
11
(20,797)
(26,483)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the Board for issue on 15 December 2015
Dr G Lushai
Director
Company Registration No. 07126043
LIFESCIENCES HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company meets its day to day working capital requirements through the continued support of its director.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis however inherently there can be no certainty in relation to these matters.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% Straight Line
Fixtures, fittings & equipment
20% Straight Line
2
Operating profit
2015
2014
£
£
Operating profit is stated after charging:
Depreciation of tangible assets
-
108
Director's remuneration
12,000
12,000
3
Investment income
2015
2014
£
£
Bank interest
-
1
-
1
4
Taxation
The company has estimated losses of £ 11,225 (2014 - £ 18,836) available for carry forward against future trading profits.
LIFESCIENCES HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2014 & at 31 March 2015
401
Depreciation
At 1 April 2014 & at 31 March 2015
401
Net book value
At 31 March 2015
-
At 31 March 2014
-
6
Debtors
2015
2014
£
£
Trade debtors
10,500
7,384
7
Creditors: amounts falling due within one year
2015
2014
£
£
Trade creditors
114
3,088
Taxation and social security
2,071
3,431
Other creditors
8,722
1,250
10,907
7,769
LIFESCIENCES HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 7 -
8
Creditors: amounts falling due after more than one year
2015
2014
£
£
Other creditors
20,789
26,319
Analysis of loans
Wholly repayable within five years
20,789
26,319
The loan
notes listed above are not secured. The director Dr G Lushai is owed £Nil (2014 - £2,030) in loan notes at the year end.
9
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
10
Statement of movements on profit and loss account
Profit
and loss
account
£
Balance at 1 April 2014
(26,583)
Profit for the year
5,686
Balance at 31 March 2015
(20,897)
11
Reconciliation of movements in shareholders' funds
2015
2014
£
£
Profit for the financial year
5,686
17,848
Opening shareholders' funds
(26,483)
(44,331)
Closing shareholders' funds
(20,797)
(26,483)
12
Control
There is no ultimate controlling party.
LIFESCIENCES HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 8 -
13
Related party relationships and transactions
During the year the company purchased services for £Nil (2014 - £675) from Medilink South West Limited, Dr G Lushai is a director of Medilink South West Limited.
During the year the company made sales to Medilink South West Limited in the amount of £1,100 (2014 - £12,610).
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