Company Registration No. 06893442 (England and Wales)
A A MEDICAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2017
PAGES FOR FILING WITH REGISTRAR
A A MEDICAL LTD
COMPANY INFORMATION
Directors
Mr A Pullan
Mr A Atwal
Secretary
Mrs R A Atwal
Company number
06893442
Registered office
38 Woodhall Park Avenue
Stanningley
PUDSEY
LS28 7HF
Accountants
Torevell Dent Limited
Centre of Excellence
Hope Park
Trevor Foster Way
Bradford
West Yorkshire
BD5 8HH
Business address
Wombourne Pharmacy
45A Planks Lane
Wombourne
WOLVERHAMPTON
WV5 8DX
A A MEDICAL LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 5
A A MEDICAL LTD
BALANCE SHEET
AS AT
31 AUGUST 2017
31 August 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,302
5,061
Current assets
Stocks
28,855
42,957
Debtors
4
96,559
97,200
Cash at bank and in hand
327,626
328,355
453,040
468,512
Creditors: amounts falling due within one year
5
(162,349)
(193,594)
Net current assets
290,691
274,918
Total assets less current liabilities
294,993
279,979
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
294,893
279,879
Total equity
294,993
279,979

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The 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 by the board of directors and authorised for issue on 17 January 2018 and are signed on its behalf by:
Mr A Pullan
Mr A Atwal
Director
Director
Company Registration No. 06893442
A A MEDICAL LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2017
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2015
100
249,265
249,365
Year ended 31 August 2016:
Profit and total comprehensive income for the year
-
68,614
68,614
Dividends
-
(38,000)
(38,000)
Balance at 31 August 2016
100
279,879
279,979
Year ended 31 August 2017:
Profit and total comprehensive income for the year
-
49,014
49,014
Dividends
-
(34,000)
(34,000)
Balance at 31 August 2017
100
294,893
294,993
A A MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2017
- 3 -
1
Accounting policies
Company information

A A Medical Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 38 Woodhall Park Avenue, Stanningley, PUDSEY, LS28 7HF.

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 amounts 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
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
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:

Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance

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.

1.4
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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

A A MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

Cash at bank and in hand 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.

1.7
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.

1.8
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.

 

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 10 (2016 - 9).

A A MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2016 and 31 August 2017
15,113
Depreciation and impairment
At 1 September 2016
10,052
Depreciation charged in the year
759
At 31 August 2017
10,811
Carrying amount
At 31 August 2017
4,302
At 31 August 2016
5,061
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
62,229
72,865
Other debtors
34,330
24,335
96,559
97,200
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
134,014
160,174
Corporation tax
12,000
17,000
Other creditors
16,335
16,420
162,349
193,594
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
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