Company Registration No. 08669486 (England and Wales)
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
COMPANY INFORMATION
Directors
Mr J R Clark
Mrs L R Clark
Company number
08669486
Registered office
Equinox House
Clifton Park Avenue
Shipton Road
York
YO30 5PA
Accountants
PCLG Limited
Equinox House
Clifton Park Avenue
Shipton Road
York
YO30 5PA
Business address
37 Usher Lane
Haxby
YORK
YO32 3LA
Bankers
HSBC Bank plc
PO Box 26
13 Parliament Street
York
YO1 8XS
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
555
660
Current assets
Debtors
4
115
-
Cash at bank and in hand
19,470
31,362
19,585
31,362
Creditors: amounts falling due within one year
5
(10,519)
(27,274)
Net current assets
9,066
4,088
Total assets less current liabilities
9,621
4,748
Provisions for liabilities
-
(132)
Net assets
9,621
4,616
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
9,521
4,516
Total equity
9,621
4,616
As permitted by s444(5A) of the Companies Act 2006 the directors of the company have not delivered to the Registrar a copy of the Company's profit and loss account within the financial statements.
true
For the financial period ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime
of the Companies Act 2006.
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2017
31 December 2017
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 March 2018 and are signed on its behalf by:
Mr J R Clark
Director
Company Registration No. 08669486
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017
- 3 -
1
Accounting policies
Company information
Molecular Diagnostics Consultancy Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Equinox House, Clifton Park Avenue, Shipton Road, York, YO30 5PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the period ended 31 December 2017
are the
first
financial statements of Molecular Diagnostics Consultancy Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 September 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Reporting period
The company has prepared a long period of financial statements up to the date of cessation, 31 December 2017.
1.3
Turnover
Turnover represents amounts receivable for services
net of VAT
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
33% Straight Line
Computer equipment
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2017
1
Accounting policies
(Continued)
- 4 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2016 - 2).
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2017
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2016
4,028
Additions
719
At 31 December 2017
4,747
Depreciation and impairment
At 1 September 2016
3,369
Depreciation charged in the period
823
At 31 December 2017
4,192
Carrying amount
At 31 December 2017
555
At 31 August 2016
660
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
115
-
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
-
12,256
Other taxation and social security
6,943
9,182
Other creditors
3,576
5,836
10,519
27,274
Included in other creditors falling due within one year is an amount of £
111
(201
6
- £
3
,
984
) due the directors of the company.
MOLECULAR DIAGNOSTICS CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2017
- 6 -
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
7
Directors' transactions
Included in other creditors falling due within one year is an amount of £
111
(201
6
- £
3
,
984
) due the directors of the company.