Company Registration No. 07727700 (England and Wales)
Health Inc. Limited
Unaudited accounts
for the year ended 31 August 2023
Health Inc. Limited
Unaudited accounts
Contents
Health Inc. Limited
Company Information
for the year ended 31 August 2023
Company Number
07727700 (England and Wales)
Registered Office
67 South Street
Cottingham
Hull
Yorkshire
HU16 4AP
UK
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Health Inc. Limited
Statement of financial position
as at 31 August 2023
Tangible assets
50,281
68,514
Cash at bank and in hand
26,048
68,351
Creditors: amounts falling due within one year
13,887
(18,065)
Net current assets
39,935
50,286
Total assets less current liabilities
90,216
118,800
Creditors: amounts falling due after more than one year
(51,506)
(65,116)
Provisions for liabilities
Deferred tax
(9,554)
(13,018)
Called up share capital
101
101
Profit and loss account
29,055
40,565
Shareholders' funds
29,156
40,666
For the year ending 31 August 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 director acknowledges her 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 and authorised for issue on 11 October 2023 and were signed on its behalf by
Miss V E Cole
Director
Company Registration No. 07727700
Health Inc. Limited
Notes to the Accounts
for the year ended 31 August 2023
Health Inc. Limited is a private company, limited by shares, registered in England and Wales, registration number 07727700. The registered office is 67 South Street , Cottingham , Hull, Yorkshire , HU16 4AP , UK.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Plant & machinery
25% on Cost
Motor vehicles
20% Reducing Balance
Fixtures & fittings
25% on Cost
Computer equipment
25% on Cost
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.
Expenditure on research and development is written off in the year in which it is incurred.
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.
Health Inc. Limited
Notes to the Accounts
for the year ended 31 August 2023
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.
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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2022
35,336
77,521
28,452
26,940
168,249
Additions
-
-
1,906
1,429
3,335
At 31 August 2023
35,336
77,521
30,358
28,369
171,584
At 1 September 2022
26,960
27,907
28,265
16,603
99,735
Charge for the year
6,438
9,923
633
4,574
21,568
At 31 August 2023
33,398
37,830
28,898
21,177
121,303
At 31 August 2023
1,938
39,691
1,460
7,192
50,281
At 31 August 2022
8,376
49,614
187
10,337
68,514
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,250
6,000
Obligations under finance leases and hire purchase contracts
7,110
6,273
Taxes and social security
11,656
-
Loans from directors
(39,161)
5,470
6
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
38,697
45,808
Health Inc. Limited
Notes to the Accounts
for the year ended 31 August 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
1 Ordinary B shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Director
-
39,161
-
39,161
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Average number of employees
During the year the average number of employees was 5 (2022: 5).