REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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Medaxon Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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Medaxon Limited |
Medaxon Limited (Registered number: 04052433) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Medaxon Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Statutory Auditors |
Centurion House |
London Road |
Staines-Upon-Thames |
Surrey |
TW18 4AX |
Medaxon Limited (Registered number: 04052433) |
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Balance Sheet |
31 March 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Medaxon Limited (Registered number: 04052433) |
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Balance Sheet - continued |
31 March 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Medaxon Limited (Registered number: 04052433) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Medaxon Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Office equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Operating lease commitments |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
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Income recognition |
Income is recognised when the significant risks and rewards of ownership of the goods and services are transferred to the customer, the sales price agreed and the receipt of payment can be assured. Revenue from other services are treated as a single contract where they have been negotiated as a single commercial package and are so closely interrelated that they do not operate independently of each other. |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Medaxon Limited (Registered number: 04052433) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The going concern concept is a fundamental accounting conception, as such, underlines the preparation of financial statements. The Companies Act 2006 also requires that the company shall be presumed to be carrying on business as a going concern. The company's balance sheet is showing a net liabilities position of £ 90,489 ( 2020: £80,384) . This indicates that the company might not be a going concern. However, the company has assurance of continued financial support of the directors and its key creditor. They are confident that the company will overcome its current difficulties in the foreseeable future. Therefore, the directors have determined that the accounts are prepared on the going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Office |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
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VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
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Other creditors |
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Accruals and deferred income |
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Medaxon Limited (Registered number: 04052433) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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7. | CALLED UP SHARE CAPITAL |
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Alloted, issued and fully paid: | 31 3 19 | 31 3 18 |
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Number: | Class: | Nominal value: | £ | £ |
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2 | Ordinary shares | £1 | 2 | 2 |
100 | B Ordinary shares | £1 | 100 | 100 |
100 | C Ordinary shares | £1 | 100 | 100 |
100 | D Ordinary shares | £1 | 100 | 100 |
302 | 302 |
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The B Ordinary shares, the C Ordinary shares and the D Ordinary shares carry no voting rights at the general meeting of the company. All shares rank pari passu except regarding voting rights at the general meeting of the company. |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 April 2020 | ( |
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Deficit for the year | ( |
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At 31 March 2021 | ( |
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9. | CAPITAL COMMITMENTS |
31.3.21 | 31.3.20 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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10. | ULTIMATE CONTROLLING PARTY |
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During the year, the company was under the control of its board of directors. |