Company Registration No. 10867356 (England and Wales)
Mission Health & Wellness Limited
Unaudited accounts
for the year ended 31 December 2023
Mission Health & Wellness Limited
Unaudited accounts
Contents
Mission Health & Wellness Limited
Company Information
for the year ended 31 December 2023
Company Number
10867356 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
United Kingdom
Mission Health & Wellness Limited
Statement of financial position
as at 31 December 2023
Tangible assets
5,587
9,322
Inventories
273,176
317,185
Cash at bank and in hand
405,403
945,698
Creditors: amounts falling due within one year
(128,506)
(50,846)
Net current assets
687,348
1,335,672
Net assets
692,935
1,344,994
Called up share capital
23
22
Share premium
3,027,196
3,012,185
Profit and loss account
(2,334,284)
(1,667,213)
Shareholders' funds
692,935
1,344,994
For the year ending 31 December 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 September 2024 and were signed on its behalf by
Thomas Whittle
Director
Company Registration No. 10867356
Mission Health & Wellness Limited
Notes to the Accounts
for the year ended 31 December 2023
Mission Health & Wellness Limited is a private company, limited by shares, registered in England and Wales, registration number 10867356. The registered office is First Floor, 129 High Street, Guildford, Surrey, GU1 3AA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
Expenditure on research and development is written off in the year in which it is incurred.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Mission Health & Wellness Limited
Notes to the Accounts
for the year ended 31 December 2023
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The directors and shareholders continue to support the Company in order that it continues to operate on a going concern basis.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's inventories and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Mission Health & Wellness Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Computer equipment
At 31 December 2023
16,010
At 31 December 2023
10,423
Finished goods
273,176
317,185
Amounts falling due within one year
Accrued income and prepayments
96,374
54,348
Other debtors
13,428
56,336
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
89,313
38,838
Taxes and social security
416
7,401
Other creditors
1,618
1,072
Loans from directors
29
1,128
8
Average number of employees
During the year the average number of employees was 5 (2022: 5).