Bestmedonline Limited 06896603 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Retail Sale Of Medical And Orthopaedic Digita Accounts Production Advanced 6.30.9574.0 true true 06896603 2023-04-01 2024-03-31 06896603 2024-03-31 06896603 core:CurrentFinancialInstruments 2024-03-31 06896603 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06896603 core:Non-currentFinancialInstruments 2024-03-31 06896603 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06896603 core:FurnitureFittings 2024-03-31 06896603 core:PlantMachinery 2024-03-31 06896603 bus:SmallEntities 2023-04-01 2024-03-31 06896603 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06896603 bus:FilletedAccounts 2023-04-01 2024-03-31 06896603 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06896603 bus:RegisteredOffice 2023-04-01 2024-03-31 06896603 bus:Director1 2023-04-01 2024-03-31 06896603 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06896603 core:FurnitureFittings 2023-04-01 2024-03-31 06896603 core:PlantMachinery 2023-04-01 2024-03-31 06896603 countries:AllCountries 2023-04-01 2024-03-31 06896603 2023-03-31 06896603 core:FurnitureFittings 2023-03-31 06896603 core:PlantMachinery 2023-03-31 06896603 2022-04-01 2023-03-31 06896603 2023-03-31 06896603 core:CurrentFinancialInstruments 2023-03-31 06896603 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06896603 core:Non-currentFinancialInstruments 2023-03-31 06896603 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06896603 core:FurnitureFittings 2023-03-31 06896603 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06896603

Bestmedonline Limited

trading as Medipouch

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Bestmedonline Limited

trading as Medipouch

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bestmedonline Limited

trading as Medipouch

Company Information

Director

P Emmerson

Registered office

Cromwell House
Elland Road
Brighouse
West Yorkshire
HD6 2RG

 

Bestmedonline Limited

trading as Medipouch

(Registration number: 06896603)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

228

305

Current assets

 

Stocks

5

13,750

14,300

Debtors

6

3,311

4,112

Cash at bank and in hand

 

36

1,914

 

17,097

20,326

Creditors: Amounts falling due within one year

7

(49,122)

(53,443)

Net current liabilities

 

(32,025)

(33,117)

Total assets less current liabilities

 

(31,797)

(32,812)

Creditors: Amounts falling due after more than one year

7

(4,237)

(7,820)

Provisions for liabilities

(57)

(76)

Net liabilities

 

(36,091)

(40,708)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(36,191)

(40,808)

Shareholders' deficit

 

(36,091)

(40,708)

 

Bestmedonline Limited

trading as Medipouch

(Registration number: 06896603)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 October 2024
 

.........................................
P Emmerson
Director

 

Bestmedonline Limited

trading as Medipouch

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Cromwell House
Elland Road
Brighouse
West Yorkshire
HD6 2RG

These financial statements were authorised for issue by the director on 15 October 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 company currently has net current liabilities as a result of amounts owed to the director and a company under the same control. It has been agreed that the monies due will not be called so to enable the company to meet their day to day working capital requirements and they will continue to support the company for a period of at least twelve months from the date of signing the financial statements. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

Bestmedonline Limited

trading as Medipouch

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% reducing balance

Plant & Machinery

33% on cost & 25% reducing balance

 

Bestmedonline Limited

trading as Medipouch

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Bestmedonline Limited

trading as Medipouch

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

2,734

6,699

9,433

At 31 March 2024

2,734

6,699

9,433

Depreciation

At 1 April 2023

2,662

6,466

9,128

Charge for the year

18

59

77

At 31 March 2024

2,680

6,525

9,205

Carrying amount

At 31 March 2024

54

174

228

At 31 March 2023

72

233

305

5

Stocks

2024
£

2023
£

Other inventories

13,750

14,300

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,311

4,112

 

3,311

4,112

 

Bestmedonline Limited

trading as Medipouch

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,073

3,833

Taxation and social security

 

1,940

3,326

Accruals and deferred income

 

1,890

1,500

Other creditors

 

40,219

44,784

 

49,122

53,443

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £3,833 (2022 - £3,833).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,237

7,820

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,820 (2022 - £11,315).

 

Bestmedonline Limited

trading as Medipouch

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,237

7,820

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,833

3,833

Bank overdrafts

1,240

-

5,073

3,833