Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31falseRetail sale of medical and orthopaedic goods in specialised stores2022-05-241truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14127846 2022-05-23 14127846 2022-05-24 2023-05-31 14127846 2021-05-24 2022-05-23 14127846 2023-05-31 14127846 c:Director1 2022-05-24 2023-05-31 14127846 d:CurrentFinancialInstruments 2023-05-31 14127846 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14127846 d:ShareCapital 2023-05-31 14127846 d:RetainedEarningsAccumulatedLosses 2023-05-31 14127846 c:OrdinaryShareClass1 2022-05-24 2023-05-31 14127846 c:OrdinaryShareClass1 2023-05-31 14127846 c:FRS102 2022-05-24 2023-05-31 14127846 c:AuditExemptWithAccountantsReport 2022-05-24 2023-05-31 14127846 c:FullAccounts 2022-05-24 2023-05-31 14127846 c:PrivateLimitedCompanyLtd 2022-05-24 2023-05-31 14127846 e:PoundSterling 2022-05-24 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14127846










VITALITY MEDICAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
VITALITY MEDICAL LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VITALITY MEDICAL LIMITED
FOR THE PERIOD ENDED 31 MAY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vitality Medical Limited for the period ended 31 May 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of Vitality Medical Limited in accordance with the terms of our engagement letter dated 29 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of Vitality Medical Limited and state those matters that we have agreed to state to the director of Vitality Medical Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vitality Medical Limited and its director for our work or for this report. 

It is your duty to ensure that Vitality Medical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vitality Medical Limited. You consider that Vitality Medical Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Vitality Medical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
18 September 2024
Page 1

 
VITALITY MEDICAL LIMITED
REGISTERED NUMBER: 14127846

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
6,527

Cash at bank and in hand
 5 
46,399

  
52,926

Creditors: amounts falling due within one year
 6 
(27,406)

Net current assets
  
 
 
25,520

Total assets less current liabilities
  
25,520

  

Net assets
  
25,520


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
  
25,519

  
25,520


Page 2

 
VITALITY MEDICAL LIMITED
REGISTERED NUMBER: 14127846
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2024.




................................................
T Kent
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
VITALITY MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

The Company is a private Company limited by shares. It was incorporated on 24 May 2022 and is both incorporated and domiciled in England and Wales. The address of its registered office is 11 Blackthorn Avenue, Holt, England, NR25 6TY. The Company's principal activity is to provide the retail sale of medical and orthopaedic goods in specialised stores.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of Goods
Revenue from the retail sale of medical and orthopaedic goods is recognised in the period in which the goods are provided when all of the following conditions are satisfied:
• The Company has transferred the significant risks and rewards of ownership to the buyer;
• The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
• The amount of revenue can be measured reliably;
• It is probable that the Company will receive the consideration due under the transaction; and.                        • The costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

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.

Page 4

 
VITALITY MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term 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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other trade debtors and creditors.
Debt instruments that are payable or receivable within one year, typically other debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2023
£


Trade debtors
3,509

Other debtors
634

Prepayments and accrued income
2,384

6,527


Page 5

 
VITALITY MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
46,399

46,399



6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
240

Corporation tax
13,293

Other creditors
2,804

Accruals and deferred income
11,069

27,406



7.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


The Company has issued 1 Ordinary share during the period, with a nominal value of £1.00. Therefore, there is 1 Ordinary share in issue of £1.00.


8.


Related party transactions

At the year end the Company owed its director £2804 in respect of an interest-free director's loan account. The loan is unsecured and is repayable on demand (shown within other creditors in note 6 to the financial statements).

 
Page 6