IRIS Accounts Production v24.1.9.2 09062977 Board of Directors Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090629772023-05-31090629772024-05-31090629772023-06-012024-05-31090629772022-05-31090629772022-06-012023-05-31090629772023-05-3109062977ns15:EnglandWales2023-06-012024-05-3109062977ns14:PoundSterling2023-06-012024-05-3109062977ns10:Director12023-06-012024-05-3109062977ns10:Director22023-06-012024-05-3109062977ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109062977ns10:SmallEntities2023-06-012024-05-3109062977ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109062977ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109062977ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109062977ns10:FullAccounts2023-06-012024-05-310906297712023-06-012024-05-3109062977ns10:Director32023-06-012024-05-3109062977ns10:CompanySecretary12023-06-012024-05-3109062977ns10:RegisteredOffice2023-06-012024-05-3109062977ns5:CurrentFinancialInstruments2024-05-3109062977ns5:CurrentFinancialInstruments2023-05-3109062977ns5:ShareCapital2024-05-3109062977ns5:ShareCapital2023-05-3109062977ns5:RetainedEarningsAccumulatedLosses2024-05-3109062977ns5:RetainedEarningsAccumulatedLosses2023-05-3109062977ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3109062977ns5:PatentsTrademarksLicencesConcessionsSimilar2023-06-012024-05-3109062977ns5:PlantMachinery2023-06-012024-05-3109062977ns5:IntangibleAssetsOtherThanGoodwill2023-05-3109062977ns5:IntangibleAssetsOtherThanGoodwill2024-05-3109062977ns5:IntangibleAssetsOtherThanGoodwill2023-05-3109062977ns5:PlantMachinery2023-05-3109062977ns5:PlantMachinery2024-05-3109062977ns5:PlantMachinery2023-05-3109062977ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3109062977ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

MEDICS' MONEY LIMITED

MEDICS' MONEY LIMITED (REGISTERED NUMBER: 09062977)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDICS' MONEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: T J Perkins
Mrs J E Perkins
E P Cantelo





SECRETARY: Mrs J E Perkins





REGISTERED OFFICE: C/o Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT





REGISTERED NUMBER: 09062977 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT

MEDICS' MONEY LIMITED (REGISTERED NUMBER: 09062977)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 790 370
Tangible assets 5 87,022 111,506
87,812 111,876

CURRENT ASSETS
Stocks 9,700 12,530
Debtors 6 129,780 83,381
Cash at bank 567,240 296,689
706,720 392,600
CREDITORS
Amounts falling due within one year 7 229,509 167,134
NET CURRENT ASSETS 477,211 225,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

565,023

337,342

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 565,021 337,340
SHAREHOLDERS' FUNDS 565,023 337,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEDICS' MONEY LIMITED (REGISTERED NUMBER: 09062977)

BALANCE SHEET - continued
31ST MAY 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th November 2024 and were signed on its behalf by:




T J Perkins - Director



E P Cantelo - Director


MEDICS' MONEY LIMITED (REGISTERED NUMBER: 09062977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Medics' Money Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MEDICS' MONEY LIMITED (REGISTERED NUMBER: 09062977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st June 2023 370
Additions 420
At 31st May 2024 790
NET BOOK VALUE
At 31st May 2024 790
At 31st May 2023 370

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 133,866
Additions 6,246
At 31st May 2024 140,112
DEPRECIATION
At 1st June 2023 22,360
Charge for year 30,730
At 31st May 2024 53,090
NET BOOK VALUE
At 31st May 2024 87,022
At 31st May 2023 111,506

MEDICS' MONEY LIMITED (REGISTERED NUMBER: 09062977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,090 68,904
Other debtors 18,690 14,477
129,780 83,381

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,615 346
Taxation and social security 222,181 161,637
Other creditors 5,713 5,151
229,509 167,134