2022-02-012023-01-312023-01-31false07430397MEDS AT HOME 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MEDS AT HOME LIMITED

Registered Number
07430397
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

MEDS AT HOME LIMITED
Company Information
for the year from 1 February 2022 to 31 January 2023

Directors

HUSSAIN, Ashraf
IQBAL, Amjid

Registered Address

Unit 26 Delph Industrial Estate, Delph Road
Brierley Hill
DY5 2UA

Registered Number

07430397 (England and Wales)
MEDS AT HOME LIMITED
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets7-517
-517
Current assets
Stocks833,76326,571
Debtors9151,424118,134
Cash at bank and on hand13,02426,500
198,211171,205
Creditors amounts falling due within one year10(148,946)(146,397)
Net current assets (liabilities)49,26524,808
Total assets less current liabilities49,26525,325
Net assets49,26525,325
Capital and reserves
Called up share capital100100
Profit and loss account49,16525,225
Shareholders' funds49,26525,325
The financial statements were approved and authorised for issue by the Board of Directors on 25 October 2023, and are signed on its behalf by:
HUSSAIN, Ashraf
Director
IQBAL, Amjid
Director

Registered Company No. 07430397
MEDS AT HOME LIMITED
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of an online pharmacy.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year711
7.Property, plant and equipment

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 February 221,86837,19641,53280,596
At 31 January 231,86837,19641,53280,596
Depreciation and impairment
At 01 February 221,86837,19641,01580,079
Charge for year--517517
At 31 January 231,86837,19641,53280,596
Net book value
At 31 January 23----
At 31 January 22--517517
8.Stocks

2023

2022

££
Raw materials and consumables33,76326,571
Total33,76326,571
9.Debtors

2023

2022

££
Trade debtors / trade receivables132,025100,368
Other debtors17,92015,962
Prepayments and accrued income1,4791,804
Total151,424118,134
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables61,00272,842
Taxation and social security14,3857,537
Payments received on account66,33149,929
Other creditors7,2288,411
Accrued liabilities and deferred income-7,678
Total148,946146,397
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.