Silverfin false false 30/03/2024 31/03/2023 30/03/2024 Elizabeth Hewitt 24/03/2010 John Hewitt 24/03/2010 22 August 2024 The principal activity of the Company during the financial year was that of dermatological consultancy at BMI Albyn Hospital and investment property rental. SC375500 2024-03-30 SC375500 bus:Director1 2024-03-30 SC375500 bus:Director2 2024-03-30 SC375500 2023-03-30 SC375500 core:CurrentFinancialInstruments 2024-03-30 SC375500 core:CurrentFinancialInstruments 2023-03-30 SC375500 core:ShareCapital 2024-03-30 SC375500 core:ShareCapital 2023-03-30 SC375500 core:RevaluationReserve 2024-03-30 SC375500 core:RevaluationReserve 2023-03-30 SC375500 core:RetainedEarningsAccumulatedLosses 2024-03-30 SC375500 core:RetainedEarningsAccumulatedLosses 2023-03-30 SC375500 core:OtherPropertyPlantEquipment 2023-03-30 SC375500 core:OtherPropertyPlantEquipment 2024-03-30 SC375500 bus:OrdinaryShareClass1 2024-03-30 SC375500 2023-03-31 2024-03-30 SC375500 bus:FilletedAccounts 2023-03-31 2024-03-30 SC375500 bus:SmallEntities 2023-03-31 2024-03-30 SC375500 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-30 SC375500 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-30 SC375500 bus:Director1 2023-03-31 2024-03-30 SC375500 bus:Director2 2023-03-31 2024-03-30 SC375500 core:OtherPropertyPlantEquipment 2023-03-31 2024-03-30 SC375500 2022-03-31 2023-03-30 SC375500 bus:OrdinaryShareClass1 2023-03-31 2024-03-30 SC375500 bus:OrdinaryShareClass1 2022-03-31 2023-03-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC375500 (Scotland)

DR JOHN HEWITT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

DR JOHN HEWITT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024

Contents

DR JOHN HEWITT LIMITED

BALANCE SHEET

AS AT 30 MARCH 2024
DR JOHN HEWITT LIMITED

BALANCE SHEET (continued)

AS AT 30 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,979 4,359
Investment property 4 300,000 300,000
304,979 304,359
Current assets
Debtors 5 4,267 50,664
Cash at bank and in hand 1,540,234 1,292,140
1,544,501 1,342,804
Creditors: amounts falling due within one year 6 ( 81,609) ( 75,922)
Net current assets 1,462,892 1,266,882
Total assets less current liabilities 1,767,871 1,571,241
Provision for liabilities ( 599) ( 444)
Net assets 1,767,272 1,570,797
Capital and reserves
Called-up share capital 7 2 2
Revaluation reserve 3,506 3,506
Profit and loss account 1,763,764 1,567,289
Total shareholders' funds 1,767,272 1,570,797

For the financial year ending 30 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dr John Hewitt Limited (registered number: SC375500) were approved and authorised for issue by the Board of Directors on 22 August 2024. They were signed on its behalf by:

John Hewitt
Director
DR JOHN HEWITT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
DR JOHN HEWITT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dr John Hewitt Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 33 Beechgrove Avenue, Aberdeen, AB15 5HE, United Kingdom.

The financial statements have been prepared under the historical cost convention, to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised at transaction price and measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 31 March 2023 22,240 22,240
Additions 3,013 3,013
Disposals ( 11,553) ( 11,553)
At 30 March 2024 13,700 13,700
Accumulated depreciation
At 31 March 2023 17,881 17,881
Charge for the financial year 1,437 1,437
Disposals ( 10,597) ( 10,597)
At 30 March 2024 8,721 8,721
Net book value
At 30 March 2024 4,979 4,979
At 30 March 2023 4,359 4,359

4. Investment property

Investment property
£
Valuation
As at 31 March 2023 300,000
As at 30 March 2024 300,000

The directors have considered the value of the investment property to be reflective of market value.

5. Debtors

2024 2023
£ £
Trade debtors 4,267 47,654
Other debtors 0 3,010
4,267 50,664

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 98 4,285
Taxation and social security 66,421 57,715
Other creditors 15,090 13,922
81,609 75,922

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amount due to directors 12,233 9,602

This loan is unsecured, interest free and has no fixed terms of repayment in place.