01 February 2017 31 January 2018 No principle activity is included 02997316 2017-02-01 02997316 2018-01-31 02997316 2017-02-01 2018-01-31 02997316 2017-01-31 02997316 2016-02-01 2017-01-31 02997316 uk-core:WithinOneYear 2018-01-31 02997316 uk-core:WithinOneYear 2017-01-31 02997316 uk-core:AfterOneYear 2018-01-31 02997316 uk-core:AfterOneYear 2017-01-31 02997316 uk-core:ShareCapital 2018-01-31 02997316 uk-core:ShareCapital 2017-01-31 02997316 uk-core:RetainedEarningsAccumulatedLosses 2018-01-31 02997316 uk-core:RetainedEarningsAccumulatedLosses 2017-01-31 02997316 uk-bus:Director1 2017-02-01 2018-01-31 02997316 uk-bus:RegisteredOffice 2017-02-01 2018-01-31 02997316 uk-curr:PoundSterling 2017-02-01 2018-01-31 02997316 uk-core:PlantMachinery 2017-02-01 2018-01-31 02997316 uk-core:Vehicles 2017-02-01 2018-01-31 02997316 uk-core:FurnitureFittings 2017-02-01 2018-01-31 02997316 uk-core:OfficeEquipment 2017-02-01 2018-01-31 02997316 uk-core:VehiclesPlantMachinery 2017-01-31 02997316 uk-core:FurnitureFittingsToolsEquipment 2017-01-31 02997316 uk-core:VehiclesPlantMachinery 2017-02-01 2018-01-31 02997316 uk-core:FurnitureFittingsToolsEquipment 2017-02-01 2018-01-31 02997316 uk-core:VehiclesPlantMachinery 2018-01-31 02997316 uk-core:FurnitureFittingsToolsEquipment 2018-01-31 02997316 uk-core:BetweenOneTwoYears 2018-01-31 02997316 uk-core:BetweenOneTwoYears 2017-01-31 02997316 uk-core:BetweenTwoFiveYears 2018-01-31 02997316 uk-core:BetweenTwoFiveYears 2017-01-31 02997316 uk-bus:FRS102 2017-02-01 2018-01-31 02997316 uk-bus:FullAccounts 2017-02-01 2018-01-31 02997316 uk-bus:AuditExempt-NoAccountantsReport 2017-02-01 2018-01-31 02997316 uk-bus:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  MEDICAL WORLD LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 JANUARY 2018
   
   
   
   
   
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
  MEDICAL WORLD LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JANUARY 2018
       
       
  DIRECTORS
       
  L J Turner
  J M Turner
       
       
  SECRETARY
       
  L J Turner
       
  REGISTERED OFFICE
       
  9 Swan Lane Industrial Estate
Swan Lane
West Bromwich
B70 0NU
       
       
  COMPANY REGISTERED NUMBER
       
  02997316
       
       
  BANKERS
       
  Lloyds Bank plc
High Street
West Bromwich
West Midlands
       
       
  ACCOUNTANTS
       
  Lyness Accountancy Practice Limited
  Chartered Certified Accountants
  78 Birmingham Street
Oldbury
West Midlands
B69 4EB
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  page 1
  MEDICAL WORLD LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JANUARY 2018
       
       
  CONTENTS
       
  Pages
       
       
  3 Statement of Financial Position  
       
       
  4-7 Notes to the Financial Statements  
       
     
  page 2
  MEDICAL WORLD LIMITED
  Company registered number: 02997316
  STATEMENT OF FINANCIAL POSITION AT 31 January 2018
           
    Note 2018 2017
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 105,347 113,795
  CURRENT ASSETS    
  Inventories   211,365 201,286
  Debtors 4 362,023 338,582
  Cash at bank and in hand   10,545 125,331
      583,933 665,199
  CREDITORS: Amounts falling due within one year 5 467,670 436,430
  NET CURRENT ASSETS   116,263 228,769
  TOTAL ASSETS LESS CURRENT LIABILITIES   221,610 342,564
           
  CREDITORS: Amounts falling due after more than one year 6 (33,000) (45,000)
  NET ASSETS   £188,610 £297,564
  CAPITAL AND RESERVES    
  Called up share capital   2 2
  Retained earnings   188,608 297,562
  SHAREHOLDERS' FUNDS   £188,610 £297,564
       
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
  The financial statements were approved and authorised for issue by the board of directors on 15/06/2018
 
  Signed on behalf of the board of directors
 
       
  L J Turner , Director
       
       
  The notes on pages 4-7 form part of these financial statements
   
  page 3
  MEDICAL WORLD LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 JANUARY 2018
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Medical World Limited, company number 02997316 is a private company limited by shares incorporated in England & Wales.
         
  Registered office:
  9 Swan Lane Industrial Estate
Swan Lane
West Bromwich
B70 0NU
         
1b. Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.
         
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate 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.
       
1e. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 25%  
  Equipment Reducing balance 15%  
         
1f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
  The notes on pages 4-7 form part of these financial statements
   
  page 4
  MEDICAL WORLD LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JANUARY 2018
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1h. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1i. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1j. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1k. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2018 2017
    No. No.
  Average number of employees 19 21
   
  The notes on pages 4-7 form part of these financial statements
   
  page 5
  MEDICAL WORLD LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JANUARY 2018
         
3. PROPERTY, PLANT AND EQUIPMENT
    Plant & Fixtures &  
    Machinery Equipment Total
    £ £ £
  Cost
         
  At 1 February 2017 245,427 106,482 351,909
  Additions - 810 810
         
  At 31 January 2018 245,427 107,292 352,719
   
  Depreciation
         
  At 1 February 2017 174,549 63,565 238,114
  For the year 2,229 7,029 9,258
  At 31 January 2018 176,778 70,594 247,372
   
  Net Book Amounts
         
  At 31 January 2018 68,649 36,698 105,347
  At 31 January 2017 70,878 42,917 113,795
   
       
       
4. DEBTORS 2018 2017
    £ £
  Trade debtors 320,857 299,510
  Other debtors 41,166 39,072
    £362,023 £338,582
   
       
       
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2018 2017
    £ £
  Bank loans and overdrafts 12,000 12,000
  Trade creditors 426,057 377,615
  Other taxes and social security 28,174 45,373
  Other creditors 708 691
  Accruals and deferred income 731 751
    £467,670 £436,430
   
       
  The notes on pages 4-7 form part of these financial statements
   
  page 6
  MEDICAL WORLD LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JANUARY 2018
       
       
6. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2018 2017
    £ £
  Bank loans and overdrafts 33,000 45,000
    £33,000 £45,000
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 12,000 12,000
  within 1-2 years
  bank 12,000 12,000
  within 2-5 years
  bank 21,000 33,000
    £45,000 £57,000
   
  The notes on pages 4-7 form part of these financial statements
   
  page 7