MEDSERENA_UPRIGHT_MRI_LTD - Accounts

MEDSERENA UPRIGHT MRI LTD - Company Information

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Company Registration No. 08282625 (England and Wales)

MEDSERENA UPRIGHT MRI LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

MEDSERENA UPRIGHT MRI LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MEDSERENA UPRIGHT MRI LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,929

5,344

Current assets

Debtors

295,508

78,598

Cash at bank and in hand

13,743

85,109

309,251

163,707

Creditors: amounts falling due within one year

(276,786)

(227,724)

Net current assets/(liabilities)

32,465

(64,017)

Total assets less current liabilities

35,394

(58,673)

Capital and reserves

Called up share capital

Profit and loss account

35,393

(58,674)

Shareholder's funds

35,394

(58,673)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 March 2016

D J Rose

Director

Company Registration No. 08282625

MEDSERENA UPRIGHT MRI LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on a going concern basis as the director is satisfied that the ultimate parent company will continue to support the company over the next twelve months from the date of signing these accounts and the company will have sufficient funds for it continue as a going concern.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for the provision of MRI scans and other related services from an upright scanner.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

3 Years - Straight Line

Fixtures, fittings & equipment

25% Reducing Balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MEDSERENA UPRIGHT MRI LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

9,848

Additions

790

At 31 December 2015

10,638

Depreciation

At 1 January 2015

4,505

Charge for the year

3,204

At 31 December 2015

7,709

Net book value

At 31 December 2015

2,929

At 31 December 2014

5,344

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary Share of £1 each

Ultimate parent company

The immediate parent company is Medserena Ltd, a company registered in England and Wales.

The ultimate parent company, by virtue of its ownership of Medserena Ltd, is Medserena AG, a company incorporated in Germany.