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REGISTERED NUMBER: 12118273 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

FIELD DOCTOR LTD

FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


FIELD DOCTOR LTD

Company Information
for the year ended 31 December 2023







DIRECTORS: M Dewey
R Archer
A Brooks
P Cornforth





REGISTERED OFFICE: 11 Laura Place
Bath
BA2 4BL





REGISTERED NUMBER: 12118273 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Field Doctor Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Field Doctor Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Field Doctor Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Field Doctor Ltd and state those matters that we have agreed to state to the Board of Directors of Field Doctor Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Field Doctor Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Field Doctor Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Field Doctor Ltd. You consider that Field Doctor Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Field Doctor Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


3 April 2024

FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,334 56,563

CURRENT ASSETS
Stocks 184,871 203,320
Debtors 5 178,968 129,615
Cash at bank 48,192 17,659
412,031 350,594
CREDITORS
Amounts falling due within one year 6 788,506 798,598
NET CURRENT LIABILITIES (376,475 ) (448,004 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(344,141

)

(391,441

)

CREDITORS
Amounts falling due after more than one
year

7

17,879

18,723
NET LIABILITIES (362,020 ) (410,164 )

CAPITAL AND RESERVES
Called up share capital 8 295 226
Share premium 3,147,254 2,123,528
Retained earnings (3,509,569 ) (2,533,918 )
SHAREHOLDERS' FUNDS (362,020 ) (410,164 )

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

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

The directors acknowledge their 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.

FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:





M Dewey - Director


FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Field Doctor 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.

The directors have prepared the financial statements on a going concern basis despite the deficit on the balance sheet.

The year to 31 December 2023 saw significant progress for the company, with turnover up over 85% and gross margin up 280% with improvement particularly towards the year end. This improvement is expected to continue in 2024. The directors are satisfied with the overall development of the business.

Over £1m of equity was raised in the year, and further amounts are expected in 2024. On this basis the directors are satisfied that the company remains a going concern for at least a year from the date of approving these financial statements therefore preparation on the going concern basis remains appropriate.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or key assumptions have had to be made by directors in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the customer orders are placed.

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.
Kitchen equipment - 33% and 20% straight line
Fixtures and fittings - 33% straight line
Computer equipment - 33% straight line

Government grants
Government grants are accounted for under the accruals method, with those in relation to expenditure credited when the expenditure is charged to the profit and loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Hire purchase and lease
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 19 ) .

FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Kitchen and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 154,390 1,022 6,882 162,294
Additions 9,230 - 4,761 13,991
At 31 December 2023 163,620 1,022 11,643 176,285
DEPRECIATION
At 1 January 2023 100,534 541 4,656 105,731
Charge for year 35,864 481 1,875 38,220
At 31 December 2023 136,398 1,022 6,531 143,951
NET BOOK VALUE
At 31 December 2023 27,222 - 5,112 32,334
At 31 December 2022 53,856 481 2,226 56,563

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 219 524
Other debtors 178,749 129,091
178,968 129,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 114,410 221,568
Trade creditors 216,740 254,777
Taxation and social security 95,783 45,174
Other creditors 361,573 277,079
788,506 798,598

Included in loans due within one year is a government backed Bounce Back Loan of £7,250.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,879 18,723

Included in loans due in more than one year is a government backed Bounce Back Loan of £17,879.

FIELD DOCTOR LTD (REGISTERED NUMBER: 12118273)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,948,502 Ordinary A £0.0001 295 226

During the year, there was an issue of 687,577 shares, each with a nominal value of £0.0001.

9. LEASING AGREEMENTS

At the year end the company had total outstanding leasing commitments of £20,854 (2022: £30,028).