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Registered number: 13195637
Tuli Health Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mrs Jiawei Li
Mr Jialu Tu
Company Number 13195637
Registered Office 2.04 Pell Street
London
SE8 5EN
Accountants Your Everyday Accounts Ltd
63/66 Hatton Garden
Fifth Floor, Suite 23
London
EC1N 8LE
Page 1
Page 2
Balance Sheet
Registered number: 13195637
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,964 9,449
4,964 9,449
CURRENT ASSETS
Debtors 5 84,371 116,455
Cash at bank and in hand 109,472 122,774
193,843 239,229
Creditors: Amounts Falling Due Within One Year 6 (48,923 ) (60,723 )
NET CURRENT ASSETS (LIABILITIES) 144,920 178,506
TOTAL ASSETS LESS CURRENT LIABILITIES 149,884 187,955
Creditors: Amounts Falling Due After More Than One Year 7 (1,949,930 ) (1,352,948 )
NET LIABILITIES (1,800,046 ) (1,164,993 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (1,801,046 ) (1,165,993 )
SHAREHOLDERS' FUNDS (1,800,046) (1,164,993)
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For the year ending 28 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
Mrs Jiawei Li
Director
21/11/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Tuli Health Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13195637 . The registered office is 2.04 Pell Street, London, SE8 5EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 33% SL
Computer Equipment 33% SL
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 4,525 9,064 13,589
As at 28 February 2024 4,525 9,064 13,589
Depreciation
As at 1 March 2023 933 3,207 4,140
Provided during the period 1,494 2,991 4,485
As at 28 February 2024 2,427 6,198 8,625
Net Book Value
As at 28 February 2024 2,098 2,866 4,964
As at 1 March 2023 3,592 5,857 9,449
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 53,803 21,476
Prepayments and accrued income 5,151 7,957
Other debtors 11,217 20,354
Corporation tax recoverable assets 14,200 14,200
VAT - 29,920
Directors' loan accounts - 22,548
84,371 116,455
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,545 46,600
Bank loans and overdrafts 6,912 -
Other taxes and social security 11,485 14,123
VAT 3,608 -
Other creditors 3,373 -
48,923 60,723
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to parent undertaking 1,949,930 1,352,948
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 6