Our Remedy Ltd 13862275 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Retail sale not in stores Digita Accounts Production Advanced 6.30.9574.0 true true 13862275 2023-02-01 2024-01-31 13862275 2024-01-31 13862275 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-01-31 13862275 core:RetainedEarningsAccumulatedLosses 2024-01-31 13862275 core:ShareCapital 2024-01-31 13862275 core:CurrentFinancialInstruments 2024-01-31 13862275 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13862275 bus:SmallEntities 2023-02-01 2024-01-31 13862275 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13862275 bus:FilletedAccounts 2023-02-01 2024-01-31 13862275 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13862275 bus:RegisteredOffice 2023-02-01 2024-01-31 13862275 bus:Director1 2023-02-01 2024-01-31 13862275 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-02-01 2024-01-31 13862275 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13862275 bus:Agent1 2023-02-01 2024-01-31 13862275 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 13862275 core:ShareCapital 2023-02-01 2024-01-31 13862275 countries:England 2023-02-01 2024-01-31 13862275 2023-01-31 13862275 core:RetainedEarningsAccumulatedLosses 2023-01-31 13862275 core:ShareCapital 2023-01-31 13862275 2022-01-20 2023-01-31 13862275 2023-01-31 13862275 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-01-31 13862275 core:CurrentFinancialInstruments 2023-01-31 13862275 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13862275 core:RetainedEarningsAccumulatedLosses 2022-01-20 2023-01-31 13862275 core:ShareCapital 2022-01-20 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13862275

Our Remedy Ltd

Report of the Directors and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Our Remedy Ltd

Contents of The Financial Statements
for the Year Ended 31 January 2024

 

Company Information

1

Accountants' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 8

 

Our Remedy Ltd

Company Information
for the Year Ended 31 January 2024

Director

Mrs Rachel Kim Mason

Registered office

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

Accountants

Insight Strategic Associates Limited
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Our Remedy Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Our Remedy Ltd for the year ended 31 January 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of Our Remedy Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Our Remedy Ltd and state those matters that we have agreed to state to the Board of Directors of Our Remedy Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Our Remedy Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Our Remedy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Our Remedy Ltd. You consider that Our Remedy Ltd is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Our Remedy Ltd. 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 accounts.

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

21 October 2024

 

Our Remedy Ltd

(Registration number: 13862275 )
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

8,341

9,500

Debtors

5

1,113

2,000

Cash at bank and in hand

 

2,539

4,582

 

11,993

16,082

Creditors: Amounts falling due within one year

6

(27,011)

(12,504)

Net (liabilities)/assets

 

(15,018)

3,578

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(15,118)

3,478

Shareholders' (deficit)/funds

 

(15,018)

3,578

For the financial year ending 31 January 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 her 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 21 October 2024
 

.........................................
Mrs Rachel Kim Mason
Director

 

Our Remedy Ltd

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

100

3,478

3,578

Loss for the year

-

(18,596)

(18,596)

At 31 January 2024

100

(15,118)

(15,018)

Share capital
£

Retained earnings
£

Total
£

Profit for the year

-

3,478

3,478

New share capital subscribed

100

-

100

At 31 January 2023

100

3,478

3,578

 

Our Remedy Ltd

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

1

General information

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

The address of its registered office is:
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE
England

These financial statements were authorised for issue by the director on 21 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 financial statements have been prepared 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Our Remedy Ltd

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

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current 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.

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.

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.

 

Our Remedy Ltd

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

2

Accounting policies (continued)

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.

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 the director) during the year, was 0 (2023 - 0).

4

Stocks

2024
£

2023
£

Merchandise

8,341

9,500

5

Debtors

Current

2024
£

2023
£

Prepayments

-

2,000

Other debtors

1,113

-

 

1,113

2,000

 

Our Remedy Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

816

Accruals and deferred income

1,356

720

Other creditors

25,655

10,968

27,011

12,504

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100