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REGISTERED NUMBER: 04089038 (England and Wales)















Unaudited Financial Statements For The Year Ended 31st December 2023

for

MEDICINEMAN LTD

MEDICINEMAN LTD (Registered number: 04089038)






Contents of the Financial Statements
For The Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEDICINEMAN LTD

Company Information
For The Year Ended 31st December 2023







DIRECTOR: P Gayton





SECRETARY:





REGISTERED OFFICE: 1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX





REGISTERED NUMBER: 04089038 (England and Wales)





ACCOUNTANTS: Dua & Co. Limited
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

MEDICINEMAN LTD (Registered number: 04089038)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 9,018 10,310
9,018 10,310

CURRENT ASSETS
Inventories 39,045 76,901
Debtors 6 126,690 166,124
Cash at bank and in hand 77,057 26,853
242,792 269,878
CREDITORS
Amounts falling due within one year 7 98,869 162,545
NET CURRENT ASSETS 143,923 107,333
TOTAL ASSETS LESS CURRENT LIABILITIES 152,941 117,643

CREDITORS
Amounts falling due after more than one year 8 25,865 34,296
NET ASSETS 127,076 83,347

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 126,976 83,247
SHAREHOLDERS' FUNDS 127,076 83,347

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 4th April 2024 and were signed by:




P Gayton - Director


MEDICINEMAN LTD (Registered number: 04089038)

Notes to the Financial Statements
For The Year Ended 31st December 2023

1. STATUTORY INFORMATION

MEDICINEMAN LTD is a private company, limited by shares , registered in England and Wales. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

MEDICINEMAN LTD (Registered number: 04089038)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 15,000
AMORTISATION
At 1st January 2023
and 31st December 2023 15,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 35,651 108,327 143,978
Additions - 1,698 1,698
At 31st December 2023 35,651 110,025 145,676
DEPRECIATION
At 1st January 2023 35,025 98,643 133,668
Charge for year 157 2,833 2,990
At 31st December 2023 35,182 101,476 136,658
NET BOOK VALUE
At 31st December 2023 469 8,549 9,018
At 31st December 2022 626 9,684 10,310

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 117,051 153,711
Other debtors 9,639 12,413
126,690 166,124

MEDICINEMAN LTD (Registered number: 04089038)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 35,046 93,467
Tax 22,180 22,794
Social security and other taxes 5,672 7,287
Pension Payable 401 401
VAT 28,167 32,060
Directors' current accounts 60 83
Accrued expenses 7,343 6,453
98,869 162,545

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans more 5 yr by instal 25,865 34,296

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 25,865 34,296