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Registration number: 9884904

Protect My Health Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2022

 

Protect My Health Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Protect My Health Ltd

(Registration number: 9884904)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

113,240

148,310

Tangible assets

5

1,338

6,488

 

114,578

154,798

Current assets

 

Debtors

6

258,430

258,130

Cash at bank and in hand

 

506

6,086

 

258,936

264,216

Creditors: Amounts falling due within one year

7

(75,659)

(77,126)

Net current assets

 

183,277

187,090

Total assets less current liabilities

 

297,855

341,888

Creditors: Amounts falling due after more than one year

7

(31,659)

(42,781)

Provisions for liabilities

(335)

(1,233)

Net assets

 

265,861

297,874

Capital and reserves

 

Called up share capital

1

1

Retained earnings

265,860

297,873

Shareholders' funds

 

265,861

297,874

 

Protect My Health Ltd

(Registration number: 9884904)
Balance Sheet as at 30 November 2022

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mrs E M Saxty
Director

 

Protect My Health Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Orchard House 1A Green Drive
Lostock Hall
Preston
Lancashire
PR5 5UY
England

These financial statements were authorised for issue by the director on 23 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Protect My Health Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Fixtures and Fittings

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Protect My Health Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Protect My Health Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2021

175,346

175,346

At 30 November 2022

175,346

175,346

Amortisation

At 1 December 2021

27,036

27,036

Amortisation charge

35,070

35,070

At 30 November 2022

62,106

62,106

Carrying amount

At 30 November 2022

113,240

113,240

At 30 November 2021

148,310

148,310

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2021

2,290

36,706

38,996

Additions

-

777

777

At 30 November 2022

2,290

37,483

39,773

Depreciation

At 1 December 2021

2,290

30,218

32,508

Charge for the year

-

5,927

5,927

At 30 November 2022

2,290

36,145

38,435

Carrying amount

At 30 November 2022

-

1,338

1,338

At 30 November 2021

-

6,488

6,488

 

Protect My Health Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

6

Debtors

Current

2022
£

2021
£

Trade debtors

15,000

11,000

Other debtors

243,430

247,130

 

258,430

258,130

Included in other debtors are non-interest bearing loans of £243,430 (2021: £247,130). These are repayable on demand.

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

12,082

9,218

Trade creditors

 

252

138

Taxation and social security

 

59,757

66,535

Accruals and deferred income

 

3,397

1,140

Other creditors

 

171

95

 

75,659

77,126

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

31,659

42,781