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Registered number: 11668237
Engage Health Systems Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11668237
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 25,119
Tangible Assets 5 10,513 21,915
10,513 47,034
CURRENT ASSETS
Stocks 6 29,653 1,340
Debtors 7 116,621 159,409
Cash at bank and in hand 13,776 334,071
160,050 494,820
Creditors: Amounts Falling Due Within One Year 8 (1,986,927 ) (1,992,716 )
NET CURRENT ASSETS (LIABILITIES) (1,826,877 ) (1,497,896 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,816,364 ) (1,450,862 )
NET LIABILITIES (1,816,364 ) (1,450,862 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (1,816,464 ) (1,450,962 )
SHAREHOLDERS' FUNDS (1,816,364) (1,450,862)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jonathan Witte
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Engage Health Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11668237 . The registered office is 1a St. Nicholas Court, North Walsham, Norfolk, NR28 9BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future having made due regard to future cash flows and funding requirements to continue its operations. For this reason, the going concern basis is used in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 20% Staright Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2022: 23)
19 23
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 125,587
As at 30 November 2023 125,587
Amortisation
As at 1 December 2022 100,468
Provided during the period 25,119
As at 30 November 2023 125,587
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 25,119
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 2,194 11,408 21,273 42,326 77,201
Additions - - - 3,649 3,649
As at 30 November 2023 2,194 11,408 21,273 45,975 80,850
...CONTINUED
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Depreciation
As at 1 December 2022 1,755 9,126 17,391 27,014 55,286
Provided during the period 439 2,282 3,597 8,733 15,051
As at 30 November 2023 2,194 11,408 20,988 35,747 70,337
Net Book Value
As at 30 November 2023 - - 285 10,228 10,513
As at 1 December 2022 439 2,282 3,882 15,312 21,915
6. Stocks
2023 2022
£ £
Stock 29,653 1,340
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 37,769 129,309
Other debtors 78,852 30,100
116,621 159,409
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 89,987 59,153
Other loans 68,784 48,000
Other creditors 1,737,502 1,825,131
Taxation and social security 90,654 60,432
1,986,927 1,992,716
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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