Company Registration No. 07318123 (England and Wales)
Medilaser Limited
Unaudited accounts
for the year ended 31 July 2020
Medilaser Limited
Unaudited accounts
Contents
Medilaser Limited
Company Information
for the year ended 31 July 2020
Director
Dr Seth Dumas Rankin
Company Number
07318123 (England and Wales)
Registered Office
61 Banstead Road
Epsom
Surrey
KT17 3HD
Accountants
CapShire UK LLP
4th Floor 86-90 Paul Street
London
EC2A 4NE
Medilaser Limited
Statement of financial position
as at
31 July 2020
Tangible assets
1,524
7,032
Cash at bank and in hand
28,333
4,084
Creditors: amounts falling due within one year
(38,705)
(44,721)
Net current liabilities
(10,372)
(40,637)
Total assets less current liabilities
(8,848)
(33,605)
Creditors: amounts falling due after more than one year
(26,833)
-
Net liabilities
(35,681)
(33,605)
Called up share capital
3
3
Capital redemption reserve
1
1
Profit and loss account
(35,685)
(33,609)
Shareholders' funds
(35,681)
(33,605)
For the year ending 31 July 2020 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 27 April 2021 and were signed on its behalf by
Dr Seth Dumas Rankin
Director
Company Registration No. 07318123
Medilaser Limited
Notes to the Accounts
for the year ended 31 July 2020
Medilaser Limited is a private company, limited by shares, registered in England and Wales, registration number 07318123. The registered office is 61 Banstead Road, Epsom, Surrey, KT17 3HD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
are depreciated at 25% on reducing balance method
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Medilaser Limited
Notes to the Accounts
for the year ended 31 July 2020
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 August 2019
20,000
4,413
24,413
At 31 July 2020
20,000
4,413
24,413
At 1 August 2019
15,000
2,381
17,381
Charge for the year
5,000
508
5,508
At 31 July 2020
20,000
2,889
22,889
At 31 July 2020
-
1,524
1,524
At 31 July 2019
5,000
2,032
7,032
5
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
2,072
2,327
Loans from directors
35,553
39,954
6
Creditors: amounts falling due after more than one year
2020
2019
7
Share capital
2020
2019
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
The ultimate controlling party is Dr Seth Rankin 100% shareholder and director of Medilaser Limited
9
Average number of employees
During the year the average number of employees was 0 (2019: 0).