ACCOUNTS - Final Accounts

A J MARCUS RADIOLOGIST LIMITED - Company Information

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Registered number: 07669014

A J MARCUS RADIOLOGIST LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2018

A J MARCUS RADIOLOGIST LIMITED

COMPANY INFORMATION

DIRECTORS	A. J. MARCUS
	J. S. MARCUS


COMPANY SECRETARY	J. S. MARCUS


REGISTERED NUMBER	07669014


REGISTERED OFFICE	930 HIGH ROAD
	LONDON
	N12 9RT


ACCOUNTANTS	BAGINSKY COHEN
	CHARTERED ACCOUNTANTS
	930 HIGH ROAD
	LONDON
	N12 9RT

A J MARCUS RADIOLOGIST LIMITED

CONTENTS

	Page
Accountants' Report	1
Balance Sheet	2 - 3
Notes to the Financial Statements	4 - 11

A J MARCUS RADIOLOGIST LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A J MARCUS RADIOLOGIST LIMITED
FOR THE YEAR ENDED 30 JUNE 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have have prepared for your approval the the financial statements of of A J Marcus Radiologist Limited for the year ended 30 June 2017 which compromise which comprise the Statement of Comprehensive Income, the Balance Sheet and the related notes from the from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at, , we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of A J Marcus Radiologist Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of of A J Marcus Radiologist Limited and state those matters that we have agreed to state to the Board of Directors of A J Marcus Radiologist Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A J Marcus Radiologist Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A J Marcus Radiologist Limited has kept adequate accounting records and to prepare statutory financial statements of that give a true and fair view of the assets, liabilities, financial position and loss of A J Marcus Radiologist Limited . You consider that A J Marcus Radiologist Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of of A J Marcus Radiologist Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements of .

BAGINSKY COHEN

CHARTERED ACCOUNTANTS

930 HIGH ROAD

LONDON

N12 9RT

31 January 2019

Page 1

A J MARCUS RADIOLOGIST LIMITED

REGISTERED NUMBER: 07669014

BALANCE SHEET

AS AT 30 JUNE 2018

		2018		2017
Note		£		£

Fixed assets
Intangible assets	3		9,000		12,000
Tangible assets	4		28,853		37,134
Investments	5		79,145		75,000
			116,998		124,134
Current assets
Debtors: amounts falling due within one year	6	8,602		15,427
Cash at bank and in hand	7	21,689		56,201
		30,291		71,628
Creditors: amounts falling due within one year	8	(15,030)		(27,971)
Net current assets			15,261		43,657
Total assets less current liabilities			132,259		167,791
Provisions for liabilities
Deferred tax		(6,834)		(7,050)
			(6,834)		(7,050)
Net assets			125,425		160,741

Capital and reserves
Called up share capital	9	100	100
Profit and loss account	10	125,325	160,641
		125,425	160,741

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 January 2019.

Page 2

A J MARCUS RADIOLOGIST LIMITED

REGISTERED NUMBER: 07669014

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2018

A. J. MARCUS

Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.3

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.

1.4

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

1.Accounting policies (continued)

1.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Motor vehicles	-	25% reducing balance
				Computer equipment	-	25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

1.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

1.9

Debtors

Short term debtors 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.

1.10

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.

Page 5

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

1.Accounting policies (continued)

1.11

Creditors

Short term creditors 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.

1.12

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 Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet 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 Balance Sheet.

1.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

1.14

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 shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 0 (2017 - 2).

Page 6

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

3.	Intangible assets

		Goodwill
		£
	Cost
	At 1 July 2017	30,000
	At 30 June 2018	30,000
	Amortisation
	At 1 July 2017	18,000
	Charge for the year	3,000
	At 30 June 2018	21,000
	Net book value
	At 30 June 2018	9,000
	At 30 June 2017	12,000

Page 7

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

4.	Tangible fixed assets

	Motor vehicles	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 July 2017	62,830	5,175	68,005
Additions	-	1,365	1,365
At 30 June 2018	62,830	6,540	69,370
Depreciation
At 1 July 2017	27,488	3,383	30,871
Charge for the year on owned assets	8,857	789	9,646
At 30 June 2018	36,345	4,172	40,517
Net book value
At 30 June 2018	26,485	2,368	28,853
At 30 June 2017	35,342	1,792	37,134

Page 8

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

5.	Fixed asset investments

	Listed investments	Unlisted investments	Total
	£	£	£
Cost or valuation
At 1 July 2017	-	75,000	75,000
Revaluations	4,145	-	4,145
At 30 June 2018	4,145	75,000	79,145

Page 9

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

Debtors

					2018	2017
					£	£


Trade debtors	-	3,862
Other debtors	462	-
Prepayments and accrued income	8,140	11,565
	8,602	15,427

7.	Cash and cash equivalents
		2018	2017
		£	£

	Cash at bank and in hand	21,689	56,202

8.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	-	1,027
Other taxation and social security	-	2,273
Other creditors	12,054	21,042
Accruals and deferred income	2,976	3,629
	15,030	27,971

9.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

100 (2017 - 100) ordinary shares of £1.00 each	100	100

10.

Reserves

Profit and loss account

This includes all current and prior period retained profits and losses.

Page 10

A J MARCUS RADIOLOGIST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

11.	Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently authorised fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £60,000 (2016: £55,000).

Page 11