ACCOUNTS - Final Accounts

07270377

ABCD (DIABETES CARE) LIMITED

UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

HAINES WATTS LEEDS LLP

CHARTERED ACCOUNTANTS

ABCD (DIABETES CARE) LIMITED

REGISTERED NUMBER: 07270377

BALANCE SHEET

AS AT 31 JANUARY 2017

		2017		2016
Note		£		£

Fixed assets
Investments	5		100		100
			100		100
Current assets
Debtors: amounts falling due within one year	6	173,385		40,360
Cash at bank and in hand		602,120		376,793
		775,505		417,153
Creditors: amounts falling due within one year	7	(600,492)		(320,199)
Net current assets			175,013		96,954
Total assets less current liabilities			175,113		97,054

Net assets			175,113		97,054

Capital and reserves
Called up share capital	1	1
Profit and loss account	175,112	97,053
	175,113	97,054

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

ABCD (DIABETES CARE) LIMITED

REGISTERED NUMBER: 07270377

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2017

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 May 2017.

Dr T Robinson

Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

ABCD (DIABETES CARE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

1.	General information

ABCD (Diabetes Care) Limited is a private company, limited by shares, registered in England and Wales under company number 07270377 at Sterling House, 1 Sheepscar Court, Leeds, LS7 2BB.

2.	Statement of compliance

The financial statements of ABCD (Diabetes Care) Limited have been prepared in compliance with United Kingdom Accounting Standards, including Section 1A of Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’) and the Companies Act 2006.

3.Accounting policies

3.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention.

3.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

3.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

3.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

3.7

Creditors

Short term creditors are measured at the transaction price.

3.8

Interest income

Interest income is recognised in the statement of comprehensive income in the period in which it is received.

Page 3

ABCD (DIABETES CARE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2017	2016
	No.	No.

Employees	5	5

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 February 2016	100
	At 31 January 2017	100

	Net book value
	At 31 January 2017	100
	At 31 January 2016	100

Page 4

ABCD (DIABETES CARE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

Debtors

					2017	2016
					£	£


Trade debtors	139,050	13,365
Amounts owed by group undertakings	-	26,595
Prepayments and accrued income	34,335	400
	173,385	40,360

7.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	111,984	9,012
Amounts owed to group undertakings	343,536	265,274
Other taxation and social security	18,908	4,528
Accruals and deferred income	126,064	41,385
	600,492	320,199

8.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 5