Doctors Appraisal Consultancy Ltd
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 July 2020
Company Registration No. 08706706 (England and Wales)
Doctors Appraisal Consultancy Ltd
Company Information
Director
Dr P Myers
Secretary
Mrs J Myers
Company number
08706706
Registered office
34 Fitzalan Road
Finchley
London
N3 3PD
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Doctors Appraisal Consultancy Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Doctors Appraisal Consultancy Ltd
Balance Sheet
As at 31 July 2020
Page 1
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
161
Current assets
Debtors
5
28,488
230,915
Cash at bank and in hand
27,555
7,550
56,043
238,465
Creditors: amounts falling due within one year
6
(53,219)
(50,655)
Net current assets
2,824
187,810
Total assets less current liabilities
2,824
187,971
Provisions for liabilities
7
-
(27)
Net assets
2,824
187,944
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
2,823
187,943
Total equity
2,824
187,944
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
Doctors Appraisal Consultancy Ltd
Balance Sheet (Continued)
As at 31 July 2020
Page 2
For the financial year ended 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he 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 and signed by the director and authorised for issue on 26 March 2021
Dr P Myers
Director
Company Registration No. 08706706
Doctors Appraisal Consultancy Ltd
Notes to the Financial Statements
For the year ended 31 July 2020
Page 3
1
Accounting policies
Company information
Doctors Appraisal Consultancy Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
34 Fitzalan Road, Finchley, London, N3 3PD.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for medical consultancy services carried out in the period.
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:
Fixtures, fittings & equipment
20% straight line
Computer equipment
33.3% straight line
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
Cash and cash equivalents
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.
1.5
Financial instruments
The company only has basic financial instruments at amortised cost, with no financial instruments classified as other or basic instrument measured at fair value.
Doctors Appraisal Consultancy Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 July 2020
1
Accounting policies
(Continued)
Page 4
1.6
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1
(2019 - 1).
3
Taxation
2020
2019
£
£
Current tax
UK corporation tax on profits for the current period
19,972
24,449
Deferred tax
Origination and reversal of timing differences
(27)
(396)
Total tax charge
19,945
24,053
Doctors Appraisal Consultancy Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 July 2020
Page 5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2019 and 31 July 2020
69,855
Depreciation and impairment
At 1 August 2019
69,694
Depreciation charged in the year
161
At 31 July 2020
69,855
Carrying amount
At 31 July 2020
-
At 31 July 2019
161
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
28,488
230,915
6
Creditors: amounts falling due within one year
2020
2019
£
£
Corporation tax
19,972
24,449
Other creditors
33,247
26,206
53,219
50,655
7
Provisions for liabilities
Notes
2020
2019
£
£
Deferred tax liabilities
8
-
27
Doctors Appraisal Consultancy Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 July 2020
Page 6
8
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Liabilities
Liabilities
2020
2019
Balances:
£
£
Deferred tax
-
27
2020
Movements in the year:
£
Liability at 1 August 2019
27
Credit to profit or loss
(27)
Liability at 31 July 2020
-
9
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of 50p each
1
1
1
1
10
Related party transactions
Transactions with the director
During the year, dividends of £270,000 (2019: £133,800) were paid to the director, Dr P Myers and his wife Mrs J Myers.
During the year, the company loaned the director, Dr P Myers an amount of £351,700 (2019: £355,000) and the director repaid £280,697 (2019: £nil). Interest of £2,302 (2019: £4,004) was charged at a rate of 2.5% (2019: 2.5%) on the overdrawn loan account during the period. At the year end, included in other debtors is an amount of £28,388 (2019: £225,083) owed to the company by the director, which will be repaid within 9 months of the year end.
Other transactions
Included in other creditors at the year end, is an amount of £23,535 (2019: £22,044) owed to Lasersupport Limited, a company in which the director, Dr P Myers is a director and shareholder.