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Registration number: 10039808

Rair Health Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Rair Health Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Rair Health Limited

Company Information

Directors

Mr G R Davis

Mr S H Cox

Mr M F Doyle

Registered office

East Manor Farm
Pook Lane
East Lavant
Chichester
West Sussex
PO18 0AH

 

Rair Health Limited

(Registration number: 10039808)
Balance Sheet as at 31 December 2023

Note

2023
£

(As restated)

2022
£

Current assets

 

Debtors

4

2,170

11,901

Cash at bank and in hand

 

5,559

9,397

 

7,729

21,298

Creditors: Amounts falling due within one year

5

(5,411)

(284,664)

Net assets/(liabilities)

 

2,318

(263,366)

Capital and reserves

 

Called up share capital

1,461

1,461

Capital redemption reserve

99,377

-

Retained earnings

(98,520)

(264,827)

Shareholders' funds/(deficit)

 

2,318

(263,366)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................
Mr S H Cox
Director

 

Rair Health Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
East Manor Farm
Pook Lane
East Lavant
Chichester
West Sussex
PO18 0AH
England

These financial statements were authorised for issue by the Board on 23 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. On 31 December 2023, the Company had net liabilities. Despite this, the Board of directors have confirmed that in their opinion the Company will be able to meet its liabilities as they fall due for the foreseeable future (being a period not less than twelve months).

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Rair Health Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Debtors

2023
£

(As restated)

2022
£

Other debtors

2,170

11,901

2,170

11,901

 

Rair Health Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

-

89,377

Trade creditors

 

1,337

248

Accruals and deferred income

 

1,114

192,079

Other creditors

 

2,960

2,960

 

5,411

284,664

During the year to 31 December 2023, brought forward accrued salary costs of £180,000 were released to the profit and loss account. This was based on management's decision that these costs would no longer be incurred.

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Convertible debt

-

89,377

During the year a further convertible loan note was issued for £10,000. However as agreed by the board, it is anticipated that the conversion or repayment of these loans will no longer take place in November 2024 as originally agreed, and therefore the full liabilty has now been recognised in equity.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.001 each

1,461,177

1,461.18

1,461,177

1,461.18

         
 

8

Control

The company is controlled by Steven Cox.