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REGISTERED NUMBER: SC524706 (Scotland)















MEDKAL HEALTH LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023






MEDKAL HEALTH LTD (REGISTERED NUMBER: SC524706)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDKAL HEALTH LTD

COMPANY INFORMATION
For The Year Ended 31 January 2023







DIRECTOR: Dr W K Lifson





REGISTERED OFFICE: Springfield House
Laurelhill Business Park
Kingspark
Stirling
FK7 9JQ





REGISTERED NUMBER: SC524706 (Scotland)





ACCOUNTANTS: Benham Conway & Co
16 Royal Crescent
Glasgow
G3 7SL

MEDKAL HEALTH LTD (REGISTERED NUMBER: SC524706)

BALANCE SHEET
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 349

CURRENT ASSETS
Debtors 5 400 9,564
Cash at bank 8,337 2,115
8,737 11,679
CREDITORS
Amounts falling due within one year 6 59,683 26,184
NET CURRENT LIABILITIES (50,946 ) (14,505 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(50,946

)

(14,156

)

CREDITORS
Amounts falling due after more than one
year

7

51,077

67,128
NET LIABILITIES (102,023 ) (81,284 )

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings (102,423 ) (81,684 )
(102,023 ) (81,284 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

MEDKAL HEALTH LTD (REGISTERED NUMBER: SC524706)

BALANCE SHEET - continued
31 January 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 October 2023 and were signed by:





Dr W K Lifson - Director


MEDKAL HEALTH LTD (REGISTERED NUMBER: SC524706)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2023


1. STATUTORY INFORMATION

Medkal Health Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents services provided in the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Government grants
Government grants in respect of revenue expenditure are credited to the profit and loss account in the period to which they relate.

Financial instruments
Basic financial liabilities, including trade and other payables, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The director has prepared the accounts on a going concern basis despite there being net liabilities at the balance sheet date as the company has continued to trade since the year end and is meeting its liabilities as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MEDKAL HEALTH LTD (REGISTERED NUMBER: SC524706)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 1,047
Additions 800
Disposals (800 )
At 31 January 2023 1,047
DEPRECIATION
At 1 February 2022 698
Charge for year 616
Eliminated on disposal (267 )
At 31 January 2023 1,047
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 349

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 400 7,580
Tax recoverable - 1,984
400 9,564

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 16,050 15,350
Taxation and social security - 1,980
Other creditors 43,633 8,854
59,683 26,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 51,077 67,128

Bank loans repayable by instalments falling due in more than five years are £0 (2022, £2,060).

MEDKAL HEALTH LTD (REGISTERED NUMBER: SC524706)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 30,666 36,409

The company's director has provided a personal guarantee for some of the company's bank borrowings.