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Company Registration No. NI642417 (Northern Ireland)
Nutmeg Health Store Limited Unaudited accounts for the year ended 31 January 2023
Nutmeg Health Store Limited Unaudited accounts Contents
Page
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Nutmeg Health Store Limited Company Information for the year ended 31 January 2023
Directors
Peter Jez Darren Magill
Company Number
NI642417 (Northern Ireland)
Registered Office
9A LOMBARD STREET BELFAST BT1 1RB NORTHERN IRELAND
Accountants
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE
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Nutmeg Health Store Limited Accountants' report
Accountants' report to the board of directors of Nutmeg Health Store Limited on the preparation of the unaudited statutory accounts for the year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nutmeg Health Store Limited for the year ended 31 January 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Nutmeg Health Store Limited, as a body, in accordance with the terms of our engagement letter dated 1 February 2022. Our work has been undertaken solely to prepare for your approval the accounts of Nutmeg Health Store Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nutmeg Health Store Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Nutmeg Health Store Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nutmeg Health Store Limited. You consider that Nutmeg Health Store Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Nutmeg Health Store 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 accounts.
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE 12 October 2023
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Nutmeg Health Store Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
3,656 
10,406 
Tangible assets
21,555 
25,232 
25,211 
35,638 
Current assets
Inventories
85,194 
91,431 
Debtors
40,340 
60,397 
Cash at bank and in hand
2,351 
2,793 
127,885 
154,621 
Creditors: amounts falling due within one year
(132,368)
(188,873)
Net current liabilities
(4,483)
(34,252)
Total assets less current liabilities
20,728 
1,386 
Creditors: amounts falling due after more than one year
(43,333)
(43,333)
Net liabilities
(22,605)
(41,947)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(22,705)
(42,047)
Shareholders' funds
(22,605)
(41,947)
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by
Peter Jez Director Company Registration No. NI642417
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Nutmeg Health Store Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Nutmeg Health Store Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI642417. The registered office is 9A LOMBARD STREET, BELFAST, BT1 1RB, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% SL
Computer equipment
20% SL
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill - 15% straight line Leasehold improvements - 10% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Nutmeg Health Store Limited Notes to the Accounts for the year ended 31 January 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2022
45,000 
At 31 January 2023
45,000 
Amortisation
At 1 February 2022
34,594 
Charge for the year
6,750 
At 31 January 2023
41,344 
Net book value
At 31 January 2023
3,656 
At 31 January 2022
10,406 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2022
24,738 
2,713 
2,623 
30,074 
At 31 January 2023
24,738 
2,713 
2,623 
30,074 
Depreciation
At 1 February 2022
3,216 
678 
948 
4,842 
Charge for the year
2,474 
678 
525 
3,677 
At 31 January 2023
5,690 
1,356 
1,473 
8,519 
Net book value
At 31 January 2023
19,048 
1,357 
1,150 
21,555 
At 31 January 2022
21,522 
2,035 
1,675 
25,232 
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Nutmeg Health Store Limited Notes to the Accounts for the year ended 31 January 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
30,155 
18,037 
Trade debtors
10,185 
27,192 
Other debtors
- 
15,168 
40,340 
60,397 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
29,169 
42,735 
Trade creditors
58,851 
146,118 
Amounts owed to group undertakings and other participating interests
3,242 
- 
Other creditors
- 
20 
Loans from directors
41,106 
- 
132,368 
188,873 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
43,333 
43,333 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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