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Registered Number: 08252076
England and Wales

 

 

 

NUTS4HEALTH LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Accountants report to the directors of NUTS4HEALTH LIMITED (the Company)


You consider that the company is exempt from an audit for the year ended 31 October 2023.

You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with our terms of engagement, in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended year ended 31 October 2023 and your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

As a practising member firm of the Association of Accountants Technicians, we are subject to its ethical and other professional requirements which are detailed at https://www.aat.org.uk/membership/standards-requirements/professional-ethics.

Our work has been undertaken in accordance with the requirements of the Association of Accountants Technicians as detailed at: https://www.aat.org.uk/membership/standards-requirements.



....................................................
Adamant Accountants Ltd
Office F3, Boleyn House,
776-778 Barking Road,
London
E13 9PJ
24 October 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,470    5,562 
2,470    5,562 
Current assets      
Stocks 22,991    55,176 
Debtors 12,433    23,624 
Cash at bank and in hand 10,392    10,155 
45,816    88,955 
Creditors: amount falling due within one year (27,536)   (74,017)
Net current assets 18,280    14,938 
 
Total assets less current liabilities 20,750    20,500 
Creditors: amount falling due after more than one year (44,509)   (73,206)
Net assets (23,759)   (52,706)
 

Capital and reserves
     
Called up share capital 4 1,000    1,000 
Profit and loss account (24,759)   (53,706)
Shareholders' funds (23,759)   (52,706)
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 October 2024 and were signed on its behalf by:


-------------------------------
Romans KONAVSKIS
Director
2
General Information
NUTS4HEALTH LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08252076, registration address 258 BATTERSEA PARK ROAD, LONDON , SW11 3BP.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Presentation currency
The financial statements are presented in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The principal accounting polices adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Cash at bank and in hands
Cash at bank and in hands are basic financial assets and include cash in hand and deposits held with financial institutions repayable without penalty on notice of non more than 24 hours.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

Contributions paid to defined contribution plans are expensed in the period to which they relate. Amounts of contributions not paid are shown in accruals as a liability in the balance sheet.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been substantively enacted by the reporting end date.

Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and differed tax assets that are recognised to extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the assets to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transactions price. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
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 and directors at an annual general meeting.
Tangible fixed assets
Impairment of fixed assets
At each reporting period and date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indications exist, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation has been provided on all tangible assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value over their useful lives on the following bases:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 20% Straight Line
Assets on finance lease and hire purchase
Leases are classified as finance leases whenever the terms of lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

The related liability is included in the financial statements as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 November 2022 5,289    10,153    2,008    17,450 
Additions      
Disposals (4,349)   (7,553)   (1,208)   (13,110)
At 31 October 2023 940    2,600    800    4,340 
Depreciation
At 01 November 2022 3,456    7,166    1,266    11,888 
Charge for year 406    661    242    1,309 
On disposals (3,430)   (6,689)   (1,208)   (11,327)
At 31 October 2023 432    1,138    300    1,870 
Net book values
Closing balance as at 31 October 2023 508    1,462    500    2,470 
Opening balance as at 01 November 2022 1,833    2,987    742    5,562 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

3