24/7 Locums Ltd
24/7 Locums Ltd
Registered number: 10242237
Unaudited Financial Statements
For the Period 21 June 2016 to 30 June 2017
BIRCH LITTLEMORE & CO
2 THE GRANARY
SANDLOW GREEN FARM
HOLMES CHAPEL RD, HOLMES CHAPEL
CHESHIRE
CW4 8AS
24/7 Locums Ltd
Unaudited Financial Statements
For the Period 21 June 2016 to 30 June 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—5 |
24/7 Locums Ltd
Statement of Financial Position
For the Period 21 June 2016 to 30 June 2017
Statement of Financial Position
Registered number:
10242237
For the period ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| Period to 30 June 2017 | |||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||
| Deferred Taxation | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 8 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | (3,971) | ||
Page 1
24/7 Locums Ltd
Statement of Financial Position (continued)
For the Period 21 June 2016 to 30 June 2017
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
24/7 Locums Ltd
Notes to the Financial Statements
For the Period 21 June 2016 to 30 June 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
This is the first year in which the financial statements have been prepared under FRS 102.
The accounts do not include a Statement of Cash Flow because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Company Formation |
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1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
24/7 Locums Ltd
Notes to the Financial Statements (continued)
For the Period 21 June 2016 to 30 June 2017
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| Period to 30 June 2017 | |
|---|---|
| Office and administration |
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4.
Tangible Assets
| Plant & Machinery | Company Formation | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| As at |
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| Net Book Value | |||
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| As at |
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5.
Debtors
| Period to 30 June 2017 | |
|---|---|
| £ | |
| Due within one year | |
| Trade debtors |
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6.
Creditors: Amounts Falling Due Within One Year
| Period to 30 June 2017 | |
|---|---|
| £ | |
| Corporation tax |
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| Accruals and deferred income |
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| Director's loan account |
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Page 4
24/7 Locums Ltd
Notes to the Financial Statements (continued)
For the Period 21 June 2016 to 30 June 2017
7.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| Period to 30 June 2017 | |
|---|---|
| £ | |
| Deferred tax |
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9.
Directors Advances, Credits and Guarantees
Dividends paid to directors in their capacity as shareholders.
| Period to 30 June 2017 | |
|---|---|
| £ | |
| Dr F BLAIN | 17,442 |
10.
Dividends
| Period to 30 June 2017 | |
|---|---|
| £ | |
| On equity shares: | |
| Final dividend paid |
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| 34,884 | |
Illegal dividends have been paid in the period of £3,973. These are to be repaid to the company with immediate effect by the two shareholders.
11.
General Information
24/7 Locums Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10242237 . The registered office is Arona, Vicarage Lane, Bowdon, Altrincham, Cheshire, WA14 3BN.
Page 5