Company Registration No. 02806163 (England and Wales)
Marble Arch Medical Eye Centre Limited
Unaudited accounts
for the year ended 30 June 2018
Marble Arch Medical Eye Centre Limited
Unaudited accounts
Contents
Marble Arch Medical Eye Centre Limited
Company Information
for the year ended 30 June 2018
Director
Mr M Al-Killidar
Secretary
Dr A. Al-Killidar
Company Number
02806163 (England and Wales)
Registered Office
217 Edgware Road
London
W2 1ES
UNITED KINGDOM
Accountants
F O Oyedele
84 Battersby Road
London
SE6 1SB
Marble Arch Medical Eye Centre Limited
Statement of financial position
as at
30 June 2018
Tangible assets
11,586
15,448
Inventories
21,449
17,257
Cash at bank and in hand
16,582
13,453
Creditors: amounts falling due within one year
(70,745)
(81,511)
Net current assets
55,072
49,937
Called up share capital
100
100
Profit and loss account
66,558
65,285
Shareholders' funds
66,658
65,385
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 March 2019.
Mr M Al-Killidar
Director
Company Registration No. 02806163
Marble Arch Medical Eye Centre Limited
Notes to the Accounts
for the year ended 30 June 2018
Marble Arch Medical Eye Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 02806163. The registered office is 217 Edgware Road, London, W2 1ES, UNITED KINGDOM.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling and rounded to the nearest £1.
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the creditors not requiring the monies owed to them until sufficient funds are available.
If the company were unable to trade, 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 and long term liabilities as current assets and liabilities.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Marble Arch Medical Eye Centre Limited
Notes to the Accounts
for the year ended 30 June 2018
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
3,862
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
11,274
Finished goods
21,449
17,257
Trade debtors
7,851
13,013
Other debtors
79,935
87,725
Marble Arch Medical Eye Centre Limited
Notes to the Accounts
for the year ended 30 June 2018
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Creditors: amounts falling due within one year
2018
2017
Trade creditors
10,262
26,380
Taxes and social security
884
1,675
Other creditors
59,599
53,456
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Share capital
2018
2017
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Operating lease commitments
2018
2017
At 30 June 2018 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
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Transactions with related parties
Dr K Al-Saidi
Controlling party.
The company is under control of the Dr K Al-Saidi and Mr M Al-Killidar
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Average number of employees
During the year the average number of employees was 0 (2017: 3).