Company Registration No. 09493444 (England and Wales)
MEDICAL LEGAL DOCTOR (UK) REPORTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
MEDICAL LEGAL DOCTOR (UK) REPORTING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MEDICAL LEGAL DOCTOR (UK) REPORTING LTD
BALANCE SHEET
AS AT 31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
2
22,901
42,978
Cash at bank and in hand
10,134
12,791
33,035
55,769
Creditors: amounts falling due within one year
3
(38,622)
(71,132)
Net current liabilities
(5,587)
(15,363)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(5,687)
(15,463)
Total equity
(5,587)
(15,363)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 year 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.
The financial statements were approved and signed by the director and authorised for issue on 19 December 2019
Dr Alan Jones
Director
Company Registration No. 09493444
MEDICAL LEGAL DOCTOR (UK) REPORTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Medical Legal Doctor (UK) Reporting Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Canolfan Gorseinon Centre, Millers Drive, Gorseinon, Swansea, SA4 4QN.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the year end the company had net liabilities of £5,587, which indicates that the company may not be a going concern.
The company’s ongoing activities are dependent upon the continued financial support of the directors and loan creditors who have undertaken to provide such support for at least one year from the date on which these financial statements are approved.
The directors are therefore confident that the company will continue to generate sufficient cash flows to meet its obligations as they fall due for payment.
The directors therefore consider it appropriate that the financial statements are prepared on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
MEDICAL LEGAL DOCTOR (UK) REPORTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
22,901
42,978
3
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
21,222
48,354
Amounts owed to group undertakings and undertakings in which the company has a participating interest
11,128
15,088
Taxation and social security
5,536
7,162
Other creditors
736
528
38,622
71,132
MEDICAL LEGAL DOCTOR (UK) REPORTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
4
Related party transactions
Included in other creditors is £736 (2018: £528) owed to the director by the company. This loan is provided interest free, unsecured and repayable on demand.