| AG Medical Services Limited |
For the year ended 31 May 2013
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07315336
AG Medical Services Limited
For the year ended 31 May 2013
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
AG Medical Services Limited
Accountants' Report
For the year ended 31 May 2013
| Accountants' report on the unaudited financial statements to the directors of AG Medical Services Limited. |
| In accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies |
| Act 2006, we have compiled the financial statements of the company for the period ended 31 May 2013 which |
| comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and |
| information and explanations you have given to us. |
| This report is made to the company's Board of Directors, as a body, in accordance with the terms of our |
| engagement. Our work has been undertaken so that we might compile the financial statements that we have been |
| engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that |
| we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we |
| do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as |
| a body, for our work or for this report. |
| You have acknowledged on the Balance Sheet as at 31 May 2013 your duty to ensure that the company has kept |
| proper accounting records and to prepare financial statements that give a true and fair view under the Companies |
| Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the period. |
| We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified |
| the accuracy or completeness of the accounting records or information and explanations you have given to us and |
| we do not, therefore, express any opinion on the financial statements. |
Abbey & Co Associates
1st Floor, Abbey House
270-272 Lever Street
Bolton
Lancashire
BL3 6PD
28 February 2014
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| Abbreviated Balance Sheet |
AG Medical Services Limited
2013
2012
2
20,492
17,832
20,492
17,832
1,896
743
5,666
3,345
6,409
5,241
| Creditors: amounts falling due within one year |
(32,525)
(18,023)
(27,284)
(11,614)
Net current liabilities
| Total assets less current liabilities |
8,878
(9,452)
| Creditors: amounts falling due after more than one year |
(34,240)
(14,285)
(5,407)
Net liabilities
(43,692)
3
3
3
(5,410)
(43,695)
(5,407)
(43,692)
Shareholders funds
| For the year ended 31 May 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director responsibilities: 1) 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 of the Companies Act 2006. |
| 2) The directors acknowledge their responsibilities for: (i) ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006; and (ii) preparing financial statements which give true and fair view of the state of affairs of the company as at the end of each financial year and its profit or loss for each financial year in accordance with the requirements of Section 396 and which otherwise comply with he requirements of the Companies Act 2006 relating to financial statements so far as applicable to the company. |
| These financial accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April; 2008) |
| Date approved by the board: 27 February 2014 |
| Signed on behalf of the board of directors |
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| Notes to the Abbreviated Financial Statements |
AG Medical Services Limited
For the year ended 31 May 2013
| The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of discounts and value added tax. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Fixtures and Fittings
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| Notes to the Abbreviated Financial Statements |
AG Medical Services Limited
For the year ended 31 May 2013
24,108
11,225
35,333
6,276
8,565
Charge for year
14,841
20,492
17,832
| 1,000 Class A shares of £1.00 each |
| Allotted called up and fully paid |
2013
2012
| 3 Class A shares of £1.00 each |
3
3
3
3
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