Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01falseNo description of principal activity1314falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10127417 2023-05-01 2024-04-30 10127417 2022-05-01 2023-04-30 10127417 2024-04-30 10127417 2023-04-30 10127417 2022-05-01 10127417 c:Director1 2023-05-01 2024-04-30 10127417 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 10127417 d:Buildings d:ShortLeaseholdAssets 2024-04-30 10127417 d:Buildings d:ShortLeaseholdAssets 2023-04-30 10127417 d:PlantMachinery 2023-05-01 2024-04-30 10127417 d:PlantMachinery 2024-04-30 10127417 d:PlantMachinery 2023-04-30 10127417 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10127417 d:OfficeEquipment 2023-05-01 2024-04-30 10127417 d:OfficeEquipment 2024-04-30 10127417 d:OfficeEquipment 2023-04-30 10127417 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10127417 d:ComputerEquipment 2023-05-01 2024-04-30 10127417 d:ComputerEquipment 2024-04-30 10127417 d:ComputerEquipment 2023-04-30 10127417 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10127417 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10127417 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-04-30 10127417 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-30 10127417 d:CurrentFinancialInstruments 2024-04-30 10127417 d:CurrentFinancialInstruments 2023-04-30 10127417 d:Non-currentFinancialInstruments 2024-04-30 10127417 d:Non-currentFinancialInstruments 2023-04-30 10127417 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10127417 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10127417 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10127417 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10127417 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 10127417 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 10127417 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10127417 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10127417 d:ShareCapital 2024-04-30 10127417 d:ShareCapital 2023-04-30 10127417 d:SharePremium 2024-04-30 10127417 d:SharePremium 2023-04-30 10127417 d:RetainedEarningsAccumulatedLosses 2024-04-30 10127417 d:RetainedEarningsAccumulatedLosses 2023-04-30 10127417 c:FRS102 2023-05-01 2024-04-30 10127417 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10127417 c:FullAccounts 2023-05-01 2024-04-30 10127417 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10127417 d:WithinOneYear 2024-04-30 10127417 d:WithinOneYear 2023-04-30 10127417 d:BetweenOneFiveYears 2024-04-30 10127417 d:BetweenOneFiveYears 2023-04-30 10127417 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 10127417 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 10127417 d:HirePurchaseContracts d:MoreThanFiveYears 2024-04-30 10127417 d:HirePurchaseContracts d:MoreThanFiveYears 2023-04-30 10127417 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 10127417 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 10127417 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 10127417 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 10127417 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 10127417 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 10127417 d:OtherDeferredTax 2024-04-30 10127417 d:OtherDeferredTax 2023-04-30 10127417 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-05-01 2024-04-30 10127417 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 10127417










PEARMINE HEALTH LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
PEARMINE HEALTH LTD
REGISTERED NUMBER: 10127417

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,500
2,250

Tangible assets
 5 
81,431
183,042

  
82,931
185,292

Current assets
  

Stocks
 6 
639,723
571,850

Debtors: amounts falling due within one year
 7 
461,247
322,162

Cash at bank and in hand
 8 
82,115
103,667

  
1,183,085
997,679

Current liabilities
  

Creditors: amounts falling due within one year
 9 
(906,933)
(853,503)

Net current assets
  
 
 
276,152
 
 
144,176

Total assets less current liabilities
  
359,083
329,468

Creditors: amounts falling due after more than one year
 10 
(263,021)
(362,328)

Provisions for liabilities
  

Deferred tax
 13 
(13,585)
(1,297)

  
 
 
(13,585)
 
 
(1,297)

Net assets/(liabilities)
  
82,477
(34,157)


Capital and reserves
  

Called up share capital 
  
101
101

Share premium account
  
79,999
79,999

Profit and loss account
  
2,377
(114,257)

  
82,477
(34,157)


Page 1

 
PEARMINE HEALTH LTD
REGISTERED NUMBER: 10127417

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Ley
Director

Date: 19 December 2024

Page 2

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Pearmine Health Ltd is a private company, limited by share capital and incorporated in England and Wales.
The Company's registered office and principal place of business is Unit 5 The Sidings, Top Station Road, Brackley, NN13 7UG.
The Company's principal activity is the development and manufacture of innovative products for the healthcare industry.

2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

 
2.2

Going concern

The directors are satisfied that it is appropriate to prepare accounts on a going concern basis as they are satisfied that sufficient funds will be available from shareholders and other sources to support the company's activities for at least 12 months from the date of approval of these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
Page 3

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.4
Revenue (continued)

it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Research and development

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. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
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.

 
2.6

Pensions

Defined contribution pension plan

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.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leashold improvements
-
over the length of the lease
Plant and machinery
-
20%
Office equipment
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 14).

Page 6

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Trademarks

£



Cost


At 1 May 2023
7,500



At 30 April 2024

7,500



Amortisation


At 1 May 2023
5,250


Charge for the year on owned assets
750



At 30 April 2024

6,000



Net book value



At 30 April 2024
1,500



At 30 April 2023
2,250



Page 7

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
39,363
362,432
12,270
5,335
419,400


Additions
3,000
14,785
105
2,491
20,381


Disposals
-
(137,441)
-
-
(137,441)



At 30 April 2024

42,363
239,776
12,375
7,826
302,340



Depreciation


At 1 May 2023
27,027
194,386
10,818
4,127
236,358


Charge for the year on owned assets
5,446
40,917
529
527
47,419


Disposals
-
(62,868)
-
-
(62,868)



At 30 April 2024

32,473
172,435
11,347
4,654
220,909



Net book value



At 30 April 2024
9,890
67,341
1,028
3,172
81,431



At 30 April 2023
12,336
168,046
1,452
1,208
183,042

Assets under hire purchase included within plant and machinery have a net book value of £15,658 (2023: £20,558).


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
639,723
571,850

639,723
571,850


Page 8

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£

Trade debtors
398,554
240,230

Other debtors
47,893
39,004

Prepayments and accrued income
14,800
42,928

461,247
322,162



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
82,115
103,667

Less: bank overdrafts
(17)
-

82,098
103,667



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
17
-

Bank loans
67,864
74,033

Other loans
15,500
68,000

Trade creditors
644,243
599,685

Other taxation and social security
97,994
49,807

Obligations under finance lease and hire purchase contracts
4,900
4,823

Other creditors
28,032
26,379

Accruals and deferred income
48,383
30,776

906,933
853,503



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
67,863

Other loans
252,168
278,635

Net obligations under finance leases and hire purchase contracts
10,853
15,830

263,021
362,328


Page 9

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
67,864
74,033

Other loans
15,500
68,000

Amounts falling due 1-2 years

Bank loans
-
67,863

Other loans
28,794
57,188

Amounts falling due 2-5 years

Other loans
223,374
221,447

335,532
488,531


Interest on the other loans is charged at 1% per annum.


12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
4,900
4,823

Between 1-5 years
4,900
4,823

Over 5 years
5,953
11,007

15,753
20,653

Obligations under finance lease and hire purchase contracts are secured against the assets to which they
relate.

Page 10

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,297)
(28,500)


Charged to profit or loss
(12,288)
27,203



At end of year
(13,585)
(1,297)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(16,281)
(42,279)

Short term timing differences
2,696
5,456

Losses and other deductions
-
35,526

(13,585)
(1,297)


14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,676 (2023: £8,998). Contributions totalling £2,152 (2023: £4,218) were payable to the fund at the balance sheet date and are included in creditors.


15.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
22,000
22,000

Later than 1 year and not later than 5 years
32,667
54,667

54,667
76,667


16.


Related party transactions

At the year end the Company owed M Ley, a director, £21,260 (2023: £21,061), this amount includes interest charged at 1% per annum, the balance is repayable upon demand.
At the year end the Company owed J Gutedel, a director, £201,330 (2023: £199,402), this amount includes interest charged at 1% per annum, the balance is repayable upon demand.

Page 11

 
PEARMINE HEALTH LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

17.


Controlling party

The Company is controlled by M Ley, a director, by virtue of his shareholding.

Page 12