Registered number
03029654
Worthcare Limited
Filleted Accounts
30 April 2024
Worthcare Limited
Registered number: 03029654
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 3,036 5,960
3,037 5,961
Current assets
Stocks 41,971 36,577
Debtors 5 162,383 149,585
Cash at bank and in hand 118,720 120,817
323,074 306,979
Creditors: amounts falling due within one year 6 (197,184) (190,602)
Net current assets 125,890 116,377
Total assets less current liabilities 128,927 122,338
Provisions for liabilities (189) -
Net assets 128,738 122,338
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 28,738 22,338
Shareholders' funds 128,738 122,338
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sunil Bajaria
Director
Approved by the board on 23 August 2024
Worthcare Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 fees from National Health dispensing of medicines. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold Premises over 5 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 68,438
At 30 April 2024 68,438
Amortisation
At 1 May 2023 68,437
At 30 April 2024 68,437
Net book value
At 30 April 2024 1
At 30 April 2023 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Leasehold Premises Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 11,484 80,690 92,174
At 30 April 2024 11,484 80,690 92,174
Depreciation
At 1 May 2023 8,037 78,177 86,214
Charge for the year 2,296 628 2,924
At 30 April 2024 10,333 78,805 89,138
Net book value
At 30 April 2024 1,151 1,885 3,036
At 30 April 2023 3,447 2,513 5,960
5 Debtors 2024 2023
£ £
Trade debtors 98,771 86,148
S419 Tax 10,969 10,969
Director's Loan Account 39,368 39,368
Other debtors 13,275 13,100
162,383 149,585
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,833 30,833
Trade creditors 166,166 147,825
Director's Accounts 254 1,825
Taxation and social security costs 5,892 6,690
Other creditors 4,039 3,429
197,184 190,602
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Sunil Bajaria MRPharm.S
Loan 39,368 - - 39,368
39,368 - - 39,368
8 Other information
Worthcare Limited is a private company limited by shares and incorporated in England. Its registered office is:
58 Hayes Road
Bromley
Kent
BR2 9AA
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