Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12458045 Mr Alexander Raychuk Mr Edward Agrest iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12458045 2023-02-28 12458045 2024-02-29 12458045 2023-03-01 2024-02-29 12458045 frs-core:CurrentFinancialInstruments 2024-02-29 12458045 frs-core:ComputerEquipment 2024-02-29 12458045 frs-core:ComputerEquipment 2023-03-01 2024-02-29 12458045 frs-core:ComputerEquipment 2023-02-28 12458045 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 12458045 frs-core:OtherResidualIntangibleAssets 2024-02-29 12458045 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 12458045 frs-core:OtherResidualIntangibleAssets 2023-02-28 12458045 frs-core:SharePremium 2024-02-29 12458045 frs-core:ShareCapital 2024-02-29 12458045 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12458045 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12458045 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12458045 frs-bus:SmallEntities 2023-03-01 2024-02-29 12458045 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12458045 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12458045 frs-bus:Director1 2023-03-01 2024-02-29 12458045 frs-bus:Director2 2023-03-01 2024-02-29 12458045 frs-countries:EnglandWales 2023-03-01 2024-02-29 12458045 2022-02-28 12458045 2023-02-28 12458045 2022-03-01 2023-02-28 12458045 frs-core:CurrentFinancialInstruments 2023-02-28 12458045 frs-core:SharePremium 2023-02-28 12458045 frs-core:ShareCapital 2023-02-28 12458045 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 12458045
Medentee Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
OnTheGo Accountants
330 Holborn Gate
High Holborn
London
WC1V 7QH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12458045
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,012 3,430
Tangible Assets 5 4,634 3,661
7,646 7,091
CURRENT ASSETS
Debtors 6 1,498 280,167
Cash at bank and in hand 1,115 93,053
2,613 373,220
Creditors: Amounts Falling Due Within One Year 7 (5,948 ) (1,379 )
NET CURRENT ASSETS (LIABILITIES) (3,335 ) 371,841
TOTAL ASSETS LESS CURRENT LIABILITIES 4,311 378,932
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,158 ) -
NET ASSETS 3,153 378,932
CAPITAL AND RESERVES
Called up share capital 9 725 670
Share premium account 2,052,983 1,508,046
Profit and Loss Account (2,050,555 ) (1,129,784 )
SHAREHOLDERS' FUNDS 3,153 378,932
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexander Raychuk
Director
13/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Medentee Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12458045 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
MEDENTEE LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is
71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
2.2. 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.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer. 
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:
Trademarks, patents and licences 10 years straight line
2.4. Research and Development
Research expenditure is written off as incurred. Development expenditure is also written oflf, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provsion is made for any impairment.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected  useful life, as follows:
Computer Equipment 3 years straight line
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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2.6. Foreign Currencies
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
2.7. Taxation
Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
2.8. Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
2.9. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.
2.10. Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 4,559
As at 29 February 2024 4,559
Amortisation
As at 1 March 2023 1,129
Provided during the period 418
As at 29 February 2024 1,547
Net Book Value
As at 29 February 2024 3,012
As at 1 March 2023 3,430
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 7,438
Additions 4,180
As at 29 February 2024 11,618
Depreciation
As at 1 March 2023 3,777
Provided during the period 3,207
As at 29 February 2024 6,984
Net Book Value
As at 29 February 2024 4,634
As at 1 March 2023 3,661
6. Debtors
2024 2023
£ £
Due within one year
Deferred tax current asset - 277,400
VAT 1,498 2,767
1,498 280,167
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 959 401
Net wages 2,489 -
Other creditors 1,210 -
Directors' loan accounts 1,290 978
5,948 1,379
8. Deferred Taxation
During the 2023 yearend the Deferred tax balance was the total of Deferred Tax Liabilities calculated from the NBV of assets and Deferred Tax Assets calculated using the total carried forward losses. 
During the 2024 Medentees Limited apeeared to no longer meet the requirements to account for Deferred Tax assets based on carried forward losses. 
For the Yearending February 2024 the total carried forward losses stood at £1,360,279 which would of resulted in a Deferred Tax Asset of £340,069.75.
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,158 (277,400)
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 725 670
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