HEAL.MED COMMUNITY INTEREST COMPANY

Company Registration Number:
12746664 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

HEAL.MED COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

HEAL.MED COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Dr J E Greening
Ms S L Lockwood-Lee
Mr L R Paxman-Clarke


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
24 July 2024

And signed on behalf of the board by:
Name: Mr L R Paxman-Clarke
Status: Director

HEAL.MED COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 3,744 0
Tangible assets: 4 1,591 1,906
Total fixed assets: 5,335 1,906
Current assets
Stocks: 5 4,000 4,000
Debtors: 6 4,902 20,073
Cash at bank and in hand: 93,975 15,119
Total current assets: 102,877 39,192
Creditors: amounts falling due within one year: 7 ( 62,443 ) ( 22,638 )
Net current assets (liabilities): 40,434 16,554
Total assets less current liabilities: 45,769 18,460
Provision for liabilities: ( 302 ) ( 362 )
Total net assets (liabilities): 45,467 18,098
Capital and reserves
Called up share capital: 3 3
Profit and loss account: 45,464 18,095
Total Shareholders' funds: 45,467 18,098

The notes form part of these financial statements

HEAL.MED COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 July 2024
and signed on behalf of the board by:

Name: Mr L R Paxman-Clarke
Status: Director

The notes form part of these financial statements

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Grant income is recognised once the company has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of services.

    Tangible fixed assets depreciation policy

    Depreciation is provided at 25% reducing balance method and at 33% on cost method for fixtures and fittings and computer, respectively.

    Intangible fixed assets amortisation policy

    Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Computer Software will be amortised evenly over the estimated useful life of 5 years.

    Other accounting policies

    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. 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. Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Creditors Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 April 2023 0 0
Additions 4,680 4,680
Disposals
Revaluations
Transfers
At 31 March 2024 4,680 4,680
Amortisation
At 1 April 2023 0 0
Charge for year 936 936
On disposals
Other adjustments
At 31 March 2024 936 936
Net book value
At 31 March 2024 3,744 3,744
At 31 March 2023 0 0

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 726 3,168 3,894
Additions 542 503 1,045
Disposals
Revaluations
Transfers
At 31 March 2024 1,268 3,671 4,939
Depreciation
At 1 April 2023 264 1,724 1,988
Charge for year 185 1,175 1,360
On disposals
Other adjustments
At 31 March 2024 449 2,899 3,348
Net book value
At 31 March 2024 819 772 1,591
At 31 March 2023 462 1,444 1,906

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Stocks

2024 2023
£ £
Stocks 4,000 4,000
Total 4,000 4,000

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Debtors

2024 2023
£ £
Trade debtors 0 5,460
Other debtors 4,902 14,613
Total 4,902 20,073

HEAL.MED COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 78 0
Taxation and social security 14,143 1,064
Other creditors 48,222 21,574
Total 62,443 22,638

COMMUNITY INTEREST ANNUAL REPORT

HEAL.MED COMMUNITY INTEREST COMPANY

Company Number: 12746664 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Throughout 2023/24 HEAL.med CIC has continued to support the diabetes community and develop innovative education that would improve education at diagnosis for children and their families. Heal.med has developed and rolled out a school training pilot which has impacted over 1,000 school staff within Leicestershire providing them with high quality and certified diabetes education to help care for pupils within their school who have type one diabetes. The HEAL.med team has engaged in multiple conferences and transferred that knowledge to the wider expert community. The team has attended ISPAD 2023 and ATTD 2024, which are major conferences specifically for diabetes, allowing us to interact with the community of healthcare professionals and a structured and specialist environment. The team has also presented at the child health technology conference and attended events by similar charitable organisations to us. HEAL.med has continued to explore potential growth activities for the business, such as engaging international hospitals for research pilots and development. The team has engaged with a hospital in Australia and has run a successful pilot, which has positively impacted patients and their families in the region.

Consultation with stakeholders

HEAL.med is undertaking a project with a major Med tech company to help improve delivery of their own content, specifically to a children focused audience. This allows us not only to interact directly with the community but to have information and support coming straight from the manufacturer, enabling accurate and relevant information from the source. The team has also engaged in summer camps and diabetes activities that involves the wider community, gathering feedback and making improvements to the services we provide. HEAL.med has also refreshed its board of non-executive directors for fresh advice and impact from a wider variety of stakeholders including NHS research and innovation, NHS staff and consultants.

Directors' remuneration

HEAL.med CIC has paid remuneration to one director, for their time and efforts in managing the business on the day-to-day level. This paid time commitment was for three days per week (July 2023 to March 2024). Director: Lee Paxman-Clarke Remuneration= £10,848

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
24 July 2024

And signed on behalf of the board by:
Name: Mr L R Paxman-Clarke
Status: Director