Acorah Software Products - Accounts Production 11.5.039 false true 1 March 2019 29 February 2020 29 February 2020 09452339 Dr Sandeep Bansal Mr Anil Agarwal Mr Anoop Maini Mr Kevin Mcdonnell Mr Robin Stern Mr Matthew Shakesheff Dr Ashok Bansal Mr Matthew Shakesheff iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09452339 2019-02-28 09452339 2020-02-29 09452339 2019-03-01 2020-02-29 09452339 frs-core:CurrentFinancialInstruments 2020-02-29 09452339 frs-core:CurrentFinancialInstruments 2019-03-01 2020-02-29 09452339 frs-core:Non-currentFinancialInstruments 2020-02-29 09452339 frs-core:Non-currentFinancialInstruments 2019-03-01 2020-02-29 09452339 frs-core:CurrentFinancialInstruments 2019-03-01 2020-02-29 09452339 frs-core:CurrentFinancialInstruments 2020-02-29 09452339 frs-core:AfterOneYear 2019-03-01 2020-02-29 09452339 frs-core:BetweenOneFiveYears 2019-03-01 2020-02-29 09452339 frs-core:BetweenOneFiveYears 2020-02-29 09452339 frs-core:ComputerEquipment 2020-02-29 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Registered number: 09452339
Medic Creations Limited
Financial Statements
For The Year Ended 29 February 2020
HCB Accountants LLP

29 Wood Street
Stratford-upon-Avon
Warwickshire
CV37 6JG
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Balance Sheet
Registered number: 09452339
2020 2019
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 2,156 2,387
Investments 4 1,600 1,600
3,756 3,987
CURRENT ASSETS
Debtors 5 6,215 9,865
Cash at bank and in hand 585 453
6,800 10,318
Creditors: Amounts Falling Due Within One Year 6 (413,696 ) (159,674 )
NET CURRENT ASSETS (LIABILITIES) (406,896 ) (149,356 )
TOTAL ASSETS LESS CURRENT LIABILITIES (403,140 ) (145,369 )
NET LIABILITIES (403,140 ) (145,369 )
CAPITAL AND RESERVES
Called up share capital 7 1,733,830 1,630,000
Share premium account 278,264 -
Profit and Loss Account (2,415,234 ) (1,775,369 )
SHAREHOLDERS' FUNDS (403,140) (145,369)
Page 1
For the year ending 29 February 2020 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 in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Dr Ashok Bansal
Director
14th April 2020

The notes on pages 3 to 8 form part of these financial statements.
Page 2
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.
1.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. All external creditors will be paid from the proceeds of a Research and Development Tax Credit based on these accounts. Included in the current liabilities is £282,117 (2019 - £57,048) owed to director. The director has confirmed his continued support to the company for the forseeable future.
1.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, 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.
1.4. 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:
Computer Equipment 3 years straight line basis
Page 3
1.5. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2020 2019
Office and administration 9 6
9 6
Page 4
3. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2019 2,604
Additions 1,447
Disposals (1,157 )
As at 29 February 2020 2,894
Depreciation
As at 1 March 2019 217
Provided during the period 939
Disposals (418 )
As at 29 February 2020 738
Net Book Value
As at 29 February 2020 2,156
As at 1 March 2019 2,387
Page 5
4. Investments
Other
£
Cost
As at 1 March 2019 1,600
As at 29 February 2020 1,600
Provision
As at 1 March 2019 -
As at 29 February 2020 -
Net Book Value
As at 29 February 2020 1,600
As at 1 March 2019 1,600
Investments relate to shares held in subsidiary companies. The following subsidiaries are 100% owned by the company:

Medic Monkey Limited
Medic Bleep Limited
Medic Mail Limited
The On Call Room Limited
Your Health Room Limited
Medic Creations Private Limited

Each of the subsidiaries are dormant and located in England, with the exception of Medic Creations Private Limited, a trading company based in India.
5. Debtors
2020 2019
£ £
Due within one year
Prepayments and accrued income 1,426 1,272
VAT 4,789 8,593
6,215 9,865
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6. Creditors: Amounts Falling Due Within One Year
2020 2019
£ £
Trade creditors 113,677 69,163
Other taxes and social security 2,763 358
Net wages 4,195 -
Other creditors 4,033 3,835
Accruals and deferred income 6,911 29,270
Directors' loan accounts 282,117 57,048
413,696 159,674
7. Share Capital
2020 2019
Allotted, Called up and fully paid 1,733,830 1,630,000
Value Number 2020 2019
Allotted, called up and fully paid £ £ £
Ordinary Shares 1 1733830 1,733,830 1,630,000
Nominal value Number Amount
Shares issued during the period: £ £
Ordinary Shares 1 103830 103,830
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8. Related Party Transactions
During the year the company paid the amount of £68,390 to MIOC Limited for legal consultancy services (2019 - £14,411). Mr Matthew Shakesheff is the director of the company. The amount outstanding at the year end was £8,777 (2019 - nil).
During the year the company paid the amount of £17,904 to Datalla Group Limited for consultancy services (2019 - nil). Mr Kevin Mcdonnell is the director of the company. The amount outstanding at the year end was £2,592
(2019 - nil)
During the year the company paid the amount of £57,363 to The IT Health Partnership for consultancy services (2019 - £56,027). Mr Robin Stern is the director of the company. The amount outstanding at the year end was £10,437 (2019 - nil )
During the year the company paid the amount of £23,599 to Mosaic Your Business Processes for consultancy services (2019 - nil). Mr Robin Stern is the director of the company.
During the year the company paid its subsidiary Medic Creations Private Limited the amount of £261,572 for consultancy services (2019 - £217,723). The amount outstanding at the year end was £25,388 (2019 - £11,216).
The amount outstanding at the year end for the consultancy services provided by Comfort Care Homes (Danygraig) Limited which is a company under common control of Dr Ashok Bansal was £28,000 (2019 - £28,000).
During the year Dr Ashok Bansal made an interest free loan to the company. The amount outstanding at the year end was £282,117 (2019 - £57,048).
9. General Information
Medic Creations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09452339. The registered office is 29 Wood Street, Stratford Upon Avon, Warwickshire, CV37 6JG.The trading address is Oakdale Royal Oak Hill Newport Gwent NP18 1JF.
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