Registered number
05655904
Medics24 Limited
Unaudited Filleted Accounts
31 May 2024
Medics24 Limited
Registered number: 05655904
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 42,671 21,803
Current assets
Debtors 4 46,077 57,123
Cash at bank and in hand 62,234 19,345
108,311 76,468
Creditors: amounts falling due within one year 5 (45,554) (43,799)
Net current assets 62,757 32,669
Total assets less current liabilities 105,428 54,472
Creditors: amounts falling due after more than one year 6 (11,667) (21,667)
Provisions for liabilities (8,107) (6,042)
Net assets 85,654 26,763
Capital and reserves
Called up share capital 4 4
Profit and loss account 85,650 26,759
Shareholders' funds 85,654 26,763
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.
I Young
Director
Approved by the board on 30 August 2024
Medics24 Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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:
Equipment 15% reducing balance
Motor Vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 23 22
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 9,158 61,273 70,431
Additions 4,524 27,300 31,824
Disposals - (6,450) (6,450)
At 31 May 2024 13,682 82,123 95,805
Depreciation
At 1 June 2023 6,652 41,976 48,628
Charge for the year 642 9,697 10,339
On disposals - (5,833) (5,833)
At 31 May 2024 7,294 45,840 53,134
Net book value
At 31 May 2024 6,388 36,283 42,671
At 31 May 2023 2,506 19,297 21,803
4 Debtors 2024 2023
£ £
Trade debtors 46,077 57,123
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 10,141 15,652
Taxation and social security costs 21,024 13,758
Other creditors 4,389 4,389
45,554 43,799
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,667 21,667
7 Other information
Medics24 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hopkin, The Heath
Lavenham Road
Great Waldingfield
Suffolk
CO10 0SA
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