Brunel Medical Services Limited - Period Ending 2021-04-30

Brunel Medical Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Brunel Medical Services Limited

Company Information

Directors

Dr A S Vian Dr S K Bowler Dr R Veale

Registered office

Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE

Accountants

PKF Francis Clark LLP Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE

Brunel Medical Services Limited

Balance Sheet

30 April 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	786,886	737,160
Current assets
Debtors	5	59,114	63,202
Cash at bank and in hand		1,026	1,179
		60,140	64,381
Creditors: Amounts falling due within one year	6	(27,002)	(50,162)
Net current assets		33,138	14,219
Total assets less current liabilities		820,024	751,379
Provisions for liabilities		(1,900)	(1,700)
Net assets		818,124	749,679
Capital and reserves
Called up share capital		9,999	9,999
Revaluation reserve		106,941	56,941
Profit and loss account		701,184	682,739
Shareholders' funds		818,124	749,679

Brunel Medical Services Limited

Balance Sheet

30 April 2021

For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 15 November 2021 and signed on its behalf by:
 

......................................... Dr R Veale Director

Company Registration Number: 07351791

Brunel Medical Services Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

These financial statements were authorised for issue by the Board on 15 November 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A and the Companies Act 2006. There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

COVID-19

The directors of Brunel Medical Services Limited have considered the impact of COVID-19.

In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts receivable for the provision of medical and management services.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Brunel Medical Services Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2021

Contract revenue recognition

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 relaibly, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Not depreciated
Fixtures, fittings and equipment	25% per annum on a reducing balance basis

Brunel Medical Services Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2021

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 5).

Brunel Medical Services Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2021

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2020	720,000	65,867	785,867
Revaluations	50,000	-	50,000
Additions	-	4,664	4,664
At 30 April 2021	770,000	70,531	840,531
Depreciation
At 1 May 2020	-	48,707	48,707
Charge for the year	-	4,938	4,938
At 30 April 2021	-	53,645	53,645
Carrying amount
At 30 April 2021	770,000	16,886	786,886
At 30 April 2020	720,000	17,160	737,160

Included within the net book value of land and buildings above is £770,000 (2020 - £720,000) in respect of freehold land and buildings.
 

5

Debtors

	2021 £	2020 £
Trade debtors	1,314	3,254
Other debtors	57,800	59,948
	59,114	63,202

Brunel Medical Services Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2021

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	-	458
Taxation and social security	18,000	22,000
Accruals and deferred income	3,002	4,204
Other creditors	6,000	23,500
	27,002	50,162

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary B shares of £1 each	2,352	2,352	2,352	2,352
Ordinary E shares of £1 each	1,765	1,765	1,765	1,765
Ordinary F shares of £1 each	1,765	1,765	1,765	1,765
Ordinary H shares of £0 each	-	-	-	-
Ordinary I shares of £1 each	1,765	1,765	1,765	1,765
Ordinary J shares of £1 each	2,352	2,352	2,352	2,352
Ordinary K shares of £0 each	-	-	-	-
	9,999	9,999	9,999	9,999

During the year the 1,304 ordinary H shares were redesignated to other share classes as follows: 307 ordinary B shares, 230 ordinary E shares, 231 ordinary F shares, 230 ordinary I shares and 306 ordinary J shares.

During the year the 1,305 ordinary K shares were redesignated to other share classes as follows: 306 ordinary B shares, 231 ordinary E shares, 230 ordinary F shares, 231 ordinary I shares and 307 ordinary J shares.

Rights, preferences and restrictions

The B - K ordinary shares have the following rights, preferences and restrictions: The B - K ordinary shares all carry the same rights and privileges and rank pari passu in all respects, except that in respect of dividends the directors shall not be bound to treat the B - K ordinary shares in the same manner.

Brunel Medical Services Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2021

8	Related party transactions

Summary of transactions with other related parties

Brunel Medical Practice
 (The directors of the company are all partners within the Brunel Medical Practice partnership)
 During the year a loan account existed between the company and the Brunel Medical Practice. The company charged the partnership £60,000 (2020: £60,000) for management services in the year. The company also made advances to the partnership in the year amounting to £50,959 (2020: £79,864). Repayments were received from the partnership during the year amounting to £113,107 (2020: £79,916). The loan between the company and the partnership is interest free and repayable on demand.
 

2021	£
Amounts receivable from related party	57,800

2020	£
Amounts receivable from related party	59,948