Registered number
02195835
Medical Specialists Company Limited
Abbreviated Accounts
30 November 2013
Medical Specialists Company Limited
Registered number: 02195835
Abbreviated Balance Sheet
as at 30 November 2013
Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 15,235 19,672
Current assets
Stocks 19,143 28,169
Debtors 29,043 31,725
Cash at bank and in hand 433,625 299,274
481,811 359,168
Creditors: amounts falling due within one year (151,041) (181,623)
Net current assets 330,770 177,545
Total assets less current liabilities 346,005 197,217
Provisions for liabilities (3,047) (3,935)
Net assets 342,958 193,282
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 342,858 193,182
Shareholders' funds 342,958 193,282
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr D Bailey
Director
Approved by the board on 15 August 2014
Medical Specialists Company Limited
Notes to the Abbreviated Accounts
for the year ended 30 November 2013
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% Reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Tangible fixed assets £
Cost
At 1 December 2012 36,517
Additions 641
At 30 November 2013 37,158
Depreciation
At 1 December 2012 16,845
Charge for the year 5,078
At 30 November 2013 21,923
Net book value
At 30 November 2013 15,235
At 30 November 2012 19,672
3 Share capital Nominal 2013 2013 2012
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
Medical Specialists Company Limited 02195835 false true 2012-12-01 2013-11-30 2013-11-30 Mr D Bailey 02195835 uk-bus:OrdinaryShareClass1 2012-11-30 02195835 2012-12-01 2013-11-30 02195835 uk-bus:Director40 2012-12-01 2013-11-30 02195835 uk-gaap:PlantMachinery 2012-12-01 2013-11-30 02195835 uk-bus:OrdinaryShareClass1 2012-12-01 2013-11-30 02195835 2013-11-30 02195835 uk-bus:OrdinaryShareClass1 2013-11-30 02195835 2012-11-30 iso4217:GBP xbrli:shares