Company Registration No. 10492707 (England and Wales)
MEDICAL DEVICE SOFTWARE AND STERILIZAITON PROFESSIONALS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
MEDICAL DEVICE SOFTWARE AND STERILIZAITON PROFESSIONALS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MEDICAL DEVICE SOFTWARE AND STERILIZAITON PROFESSIONALS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
678
904
Current assets
Debtors
4
702
-
Cash at bank and in hand
2,527
7,090
3,229
7,090
Creditors: amounts falling due within one year
5
(4,701)
(5,033)
Net current (liabilities)/assets
(1,472)
2,057
Total assets less current liabilities
(794)
2,961
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(795)
2,960
Total equity
(794)
2,961
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 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 24 December 2020
Mrs P C F Vest
Director
Company Registration No. 10492707
MEDICAL DEVICE SOFTWARE AND STERILIZAITON PROFESSIONALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Medical Device Software and Sterilizaiton Professionals Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
92 Wild Ridings, Fareham, PO14 3DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
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:
Plant and equipment
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance
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
.
MEDICAL DEVICE SOFTWARE AND STERILIZAITON PROFESSIONALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 3 -
1.4
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2019 and 31 March 2020
400
1,030
1,430
Depreciation and impairment
At 1 April 2019
175
351
526
Depreciation charged in the year
56
170
226
At 31 March 2020
231
521
752
Carrying amount
At 31 March 2020
169
509
678
At 31 March 2019
225
679
904
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
702
-
MEDICAL DEVICE SOFTWARE AND STERILIZAITON PROFESSIONALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
5
Creditors: amounts falling due within one year
2020
2019
£
£
Corporation tax
-
1,934
Other taxation and social security
-
1,992
Other creditors
4,701
1,107
4,701
5,033