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REGISTERED NUMBER: 04338252 (England and Wales)















Nowmedical Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Nowmedical Limited (Registered number: 04338252)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Nowmedical Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Dr J W Keen
Mrs K M Keen





REGISTERED OFFICE: 1 High Street
Sheerness
Kent
ME12 1NY





BUSINESS ADDRESS: 55 South Parade
London
W4 5LH





REGISTERED NUMBER: 04338252 (England and Wales)





ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY

Nowmedical Limited (Registered number: 04338252)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,990 1,704
Investment property 5 1,240,000 710,000
1,242,990 711,704

CURRENT ASSETS
Debtors 6 243,077 134,316
Investments 7 840,221 1,004,976
Cash at bank 190,902 90,042
1,274,200 1,229,334
CREDITORS
Amounts falling due within one year 8 429,147 200,571
NET CURRENT ASSETS 845,053 1,028,763
TOTAL ASSETS LESS CURRENT LIABILITIES 2,088,043 1,740,467

PROVISIONS FOR LIABILITIES 748 324
NET ASSETS 2,087,295 1,740,143

CAPITAL AND RESERVES
Called up share capital 9 109 109
Retained earnings 2,087,186 1,740,034
SHAREHOLDERS' FUNDS 2,087,295 1,740,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Nowmedical Limited (Registered number: 04338252)

Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





Dr J W Keen - Director


Nowmedical Limited (Registered number: 04338252)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Nowmedical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 by the year end.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Nowmedical Limited (Registered number: 04338252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 36,810
Additions 2,922
Disposals (4,942 )
At 31 December 2023 34,790
DEPRECIATION
At 1 January 2023 35,106
Charge for year 1,636
Eliminated on disposal (4,942 )
At 31 December 2023 31,800
NET BOOK VALUE
At 31 December 2023 2,990
At 31 December 2022 1,704

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 950,175
Additions 491,879
Fair value 27,939
At 31 December 2023 1,469,993
DEPRECIATION
At 1 January 2023 240,175
Charge written back (10,182 )
At 31 December 2023 229,993
NET BOOK VALUE
At 31 December 2023 1,240,000
At 31 December 2022 710,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 450,000
Cost 1,019,993
1,469,993

Nowmedical Limited (Registered number: 04338252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 243,077 133,793
Other debtors - 523
243,077 134,316

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 840,221 1,004,976

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 30,222 663
Taxation and social security 326,465 181,986
Other creditors 72,460 17,922
429,147 200,571

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
5 Ordinary B £1 5 5
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
1 Ordinary F £1 1 1
109 109

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Dr J W Keen and Mrs K M Keen
Balance outstanding at start of year - -
Amounts advanced 69,249 -
Amounts repaid (69,249 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -