By Dr Meg Limited 09806756 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of medical consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 09806756 2023-01-01 2023-12-31 09806756 2023-12-31 09806756 core:CurrentFinancialInstruments 2023-12-31 09806756 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09806756 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 09806756 core:OfficeEquipment 2023-12-31 09806756 core:PlantMachinery 2023-12-31 09806756 bus:SmallEntities 2023-01-01 2023-12-31 09806756 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09806756 bus:FullAccounts 2023-01-01 2023-12-31 09806756 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09806756 bus:RegisteredOffice 2023-01-01 2023-12-31 09806756 bus:Director2 2023-01-01 2023-12-31 09806756 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09806756 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 09806756 core:OfficeEquipment 2023-01-01 2023-12-31 09806756 core:PlantMachinery 2023-01-01 2023-12-31 09806756 core:VehiclesPlantMachinery 2023-01-01 2023-12-31 09806756 countries:EnglandWales 2023-01-01 2023-12-31 09806756 2022-12-31 09806756 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 09806756 core:OfficeEquipment 2022-12-31 09806756 core:PlantMachinery 2022-12-31 09806756 2022-01-01 2022-12-31 09806756 2022-12-31 09806756 core:CurrentFinancialInstruments 2022-12-31 09806756 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09806756 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 09806756 core:OfficeEquipment 2022-12-31 09806756 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 09806756

By Dr Meg Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

By Dr Meg Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

By Dr Meg Limited

(Registration number: 09806756)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

961

Tangible assets

5

74,463

1,808

 

74,463

2,769

Current assets

 

Stocks

-

349

Debtors

6

13,931

-

Cash at bank and in hand

 

16,873

14,200

 

30,804

14,549

Creditors: Amounts falling due within one year

7

(289,357)

(218,544)

Net current liabilities

 

(258,553)

(203,995)

Net liabilities

 

(184,090)

(201,226)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(184,190)

(201,326)

Shareholders' deficit

 

(184,090)

(201,226)

 

By Dr Meg Limited

(Registration number: 09806756)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2024 and signed on its behalf by:
 

.........................................
M C Cope
Director

 

By Dr Meg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 company has sufficient financial support from the directors together with a number of customers across different geographic areas. As a consequence, the directors believe that the company is well placed to manage its business risks sucessfully dispite the current uncertain economic outlook.

The directors have reasonable expectation that the company has adequate resources to continue in operational existance for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of discounts and rebates.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

By Dr Meg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

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 basis

Plant and Machinery

25% straight line basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

 

By Dr Meg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2023

3,194

3,194

Disposals

(3,194)

(3,194)

At 31 December 2023

-

-

Amortisation

At 1 January 2023

2,233

2,233

Amortisation eliminated on disposals

(2,233)

(2,233)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

961

961

 

By Dr Meg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

-

4,767

4,767

Additions

88,617

-

88,617

At 31 December 2023

88,617

4,767

93,384

Depreciation

At 1 January 2023

-

2,959

2,959

Charge for the year

14,770

1,192

15,962

At 31 December 2023

14,770

4,151

18,921

Carrying amount

At 31 December 2023

73,847

616

74,463

At 31 December 2022

-

1,808

1,808

6

Debtors

Current

2023
£

2022
£

Trade debtors

13,800

-

Prepayments

131

-

 

13,931

-

 

By Dr Meg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

195,000

103,779

Trade creditors

517

-

Taxation and social security

4,439

-

Other creditors

89,401

114,765

289,357

218,544

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

195,000

103,779

9

Related party transactions

Summary of transactions with other related parties

During the year the company made the following related party transactions:

By Dr Meg Limited raised sales invoices during the year to The MW Clinic Limited; a company of which M C Cope is also a director . The total value of sales in the period was £43,500. At the balance sheet date the amount owed from The MW Clinic Limited is £13,800.

M C Cope, a director, has a loan with the company. The amount owed to M C Cope at the balance sheet date was £87,721 (2022: £113,528).

By Dr Meg Limited was in receipt of a loan from D Cope, a shareholder of the company. At the balance sheet date the amount owed to D Cope was £190,000 (2022 : £98,779).