REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2020 |
|
for |
|
Atlantis Medicare Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2020 |
|
for |
|
Atlantis Medicare Limited |
Atlantis Medicare Limited (Registered number: 07181854) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31 March 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
Atlantis Medicare Limited |
|
Company Information |
for the year ended 31 March 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
& Reporting Accountants |
2nd Floor |
Hygeia House |
66 College Road |
Harrow |
Middlesex |
HA1 1BE |
Atlantis Medicare Limited (Registered number: 07181854) |
|
Statement of Financial Position |
31 March 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 8 |
|
|
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. |
Atlantis Medicare Limited (Registered number: 07181854) |
|
Statement of Financial Position - continued |
31 March 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Atlantis Medicare Limited (Registered number: 07181854) |
|
Notes to the Financial Statements |
for the year ended 31 March 2020 |
|
1. | STATUTORY INFORMATION |
|
Atlantis Medicare Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
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 and rebates |
|
Goodwill |
|
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Freehold property - 2% on cost for buildings in use |
Plant and machinery - 25% reducing balance |
Fixtures and fittings - 25% reducing balance |
Computer equipment - 33% reducing balance |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
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 statement of financial position date. |
|
Atlantis Medicare Limited (Registered number: 07181854) |
|
Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
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. |
|
Going concern |
The financial statements have been prepared on a going concern basis, which is dependent upon the company's directors and creditors continuing to provide the necessary financial facilities, to enable the company to continue in operation for the foreseeable future. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
|
AMORTISATION |
At 1 April 2019 |
|
Amortisation for year |
|
At 31 March 2020 |
|
NET BOOK VALUE |
At 31 March 2020 |
|
At 31 March 2019 |
|
Atlantis Medicare Limited (Registered number: 07181854) |
|
Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2019 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 31 March 2020 |
|
|
|
|
|
DEPRECIATION |
At 1 April 2019 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31 March 2020 |
|
|
|
|
|
NET BOOK VALUE |
At 31 March 2020 |
|
|
|
|
|
At 31 March 2019 |
|
|
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
|
|
Other creditors |
|
|
|
|
Atlantis Medicare Limited (Registered number: 07181854) |
|
Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2020 | 2019 |
£ | £ |
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by |
instalments | 92,610 | 154,504 |
92,610 | 154,504 |
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2020 | 2019 |
£ | £ |
Bank loans |
|
|
|
The bank loan is secured by a legal charge over the freehold property situated at 120 Manchester Old Road, Middleton, Manchester in favour of Barclays Bank Plc. |
|
10. | OTHER FINANCIAL COMMITMENTS |
|
There is a fixed and floating charge over the assets of the company in connection with a charge made in favour of Barclays Bank Plc guaranteeing the indebtedness of Atlantis Medicare Limited and Atlantis Medicare (Edinburgh) Limited. |
|
11. | RELATED PARTY DISCLOSURES |
|
At the year end date, the company owed £305,921 (2019: £357,921) to Atlantis Medicare (Edinburgh) Limited, a company in which S Singh, J Singh and G Singh are also directors.This was an interest free loan to the company and is shown under other creditors falling due after more than one year. |
|
At the year end date, the directors S Singh and J Singh had credit balances of £348,684 (2019: £348,684), £289,710 (2019: £289,710) and nothing owed to G Singh (2019:nil) respectively in their loan accounts. These were interest free loans to the company and are shown under other creditors due after more than one year. |
|
At the year end date, the company was owed £3,024 (2019: £3,024) by iWholesales Limited, a company in which G Singh has a controlling interest. |
|
At the year end date, the company was owed £134,521 (2019: £103,838) by Atlantis Medicare (Bridgeness) Limited, a company in which S Singh, J Singh and G Singh are also directors.This was an interest free loan by the company and is shown under other debtors. |