Mulberry Medical (NI) Ltd - Accounts to registrar (filleted) - small 18.2

Mulberry Medical (NI) Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: NI612593(Northern Ireland)













Mulberry Medical (NI) Ltd

Unaudited Financial Statements

for the Period 1 June 2018 to 30 November 2019






Mulberry Medical (NI) Ltd (Registered number: NI612593)

Contents of the Financial Statements
for the Period 1 June 2018 to 30 November 2019










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3 to 6


Mulberry Medical (NI) Ltd

Company Information
for the Period 1 June 2018 to 30 November 2019







Director: Dr T McCormick





Registered office: Mulberry House
37 Bleary Road
Portadown
Co Armagh
BT63 5NE





Registered number: NI612593(Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Mulberry Medical (NI) Ltd (Registered number: NI612593)

Statement of Financial Position
30 November 2019

2019 2018
Notes £ £
Fixed assets
Intangible assets 4 - -
Property, plant and equipment 5 - 14,315
- 14,315

Current assets
Receivables 6 5,832 14,480
Cash at bank and in hand 266,026 210,872
271,858 225,352
Payables
Amounts falling due within one year 7 (24 ) (22,327 )
Net current assets 271,834 203,025
Total assets less current liabilities 271,834 217,340

Provisions for liabilities 8 - (2,720 )
Net assets 271,834 214,620

Capital and reserves
Called up share capital 9 100 100
Retained earnings 271,734 214,520
Shareholders' funds 271,834 214,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director on 2 December 2019and were signed by:





Dr T McCormick- Director


Mulberry Medical (NI) Ltd (Registered number: NI612593)

Notes to the Financial Statements
for the Period 1 June 2018 to 30 November 2019


1. Statutory information

Mulberry Medical (NI) Ltd is a private company, limited by shares, registered in Northern Ireland. The company's
registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Purchased goodwill arising on the acquisition of the sole trade, previously trading as Mulberry Medical, represents
the excess of acquisition cost over the fair value of the identifiable net assets when they were acquired. Purchased
goodwill was capitalised in the balance sheet at a cost of £150,000 and was fully amortised by 31 May 2015.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Office equipment - 33.3% on cost

Taxation
Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement
of financial position date.

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 period end and that are expected to apply to the reversal of the
timing difference.

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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective
interest method, less any impairment.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method.

Mulberry Medical (NI) Ltd (Registered number: NI612593)

Notes to the Financial Statements - continued
for the Period 1 June 2018 to 30 November 2019


2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of
not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months
from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of
change in value.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when
paid. Final equity dividends are recognised when approved by the shareholder at an annual general meeting.
Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that
probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of
the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year
that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of
Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and
uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of
Financial Position.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are
based on historical experience and other factors, including expectations of future events that are believed to be
reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which
can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom
equal the related actual results. The estimates and assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives
and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They
are amended when necessary to reflect current estimates, based on technological advancement, future investments,
economic utilisation and the physical condition of the assets.

3. Employees and directors

The average number of employees during the period was 1(2018 - 1) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 June 2018
and 30 November 2019 150,000
Amortisation
At 1 June 2018
and 30 November 2019 150,000
Net book value
At 30 November 2019 -
At 31 May 2018 -

Mulberry Medical (NI) Ltd (Registered number: NI612593)

Notes to the Financial Statements - continued
for the Period 1 June 2018 to 30 November 2019


5. Property, plant and equipment
Fixtures
Plant and and Office
machinery fittings equipment Totals
£ £ £ £
Cost
At 1 June 2018 34,594 25,034 3,039 62,667
Disposals (34,594 ) (25,034 ) (3,039 ) (62,667 )
At 30 November 2019 - - - -
Depreciation
At 1 June 2018 28,575 16,871 2,906 48,352
Eliminated on disposal (28,575 ) (16,871 ) (2,906 ) (48,352 )
At 30 November 2019 - - - -
Net book value
At 30 November 2019 - - - -
At 31 May 2018 6,019 8,163 133 14,315

6. Receivables: amounts falling due within one year
2019 2018
£ £
Trade receivables - 14,480
Other receivables 5,832 -
5,832 14,480

7. Payables: amounts falling due
within one year
2019 2018
£ £
Taxation and social security - 15,267
Other payables 24 7,060
24 22,327

8. Provisions for liabilities
2019 2018
£ £
Deferred tax
Accelerated capital allowances - 2,720

Deferred tax
£
Balance at 1 June 2018 2,720
Provided during period (2,720 )
Balance at 30 November 2019 -

Mulberry Medical (NI) Ltd (Registered number: NI612593)

Notes to the Financial Statements - continued
for the Period 1 June 2018 to 30 November 2019


9. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £ £
100 Ordinary Shares 1 100 100

10. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the period ended 30 November 2019 and the year
ended 31 May 2018:

2019 2018
£ £
Dr T McCormick
Balance outstanding at start of period (3,095 ) (4,658 )
Amounts advanced 12,265 20,000
Amounts repaid (3,338 ) (18,437 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 5,832 (3,095 )