Acorah Software Products - Accounts Production 16.1.200 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 08839114 Ian McGovern S Qureshi I McGovern iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08839114 2023-01-31 08839114 2024-01-31 08839114 2023-02-01 2024-01-31 08839114 frs-core:CurrentFinancialInstruments 2024-01-31 08839114 frs-core:Non-currentFinancialInstruments 2024-01-31 08839114 frs-core:FurnitureFittings 2024-01-31 08839114 frs-core:FurnitureFittings 2023-02-01 2024-01-31 08839114 frs-core:FurnitureFittings 2023-01-31 08839114 frs-core:NetGoodwill 2024-01-31 08839114 frs-core:NetGoodwill 2023-02-01 2024-01-31 08839114 frs-core:NetGoodwill 2023-01-31 08839114 frs-core:PlantMachinery 2024-01-31 08839114 frs-core:PlantMachinery 2023-02-01 2024-01-31 08839114 frs-core:PlantMachinery 2023-01-31 08839114 frs-core:ShareCapital 2024-01-31 08839114 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08839114 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08839114 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08839114 frs-bus:SmallEntities 2023-02-01 2024-01-31 08839114 frs-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08839114 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08839114 frs-bus:Director1 2023-02-01 2024-01-31 08839114 frs-bus:Director2 2023-02-01 2024-01-31 08839114 frs-bus:Director2 2023-01-31 08839114 frs-bus:Director2 2024-01-31 08839114 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 08839114 frs-countries:EnglandWales 2023-02-01 2024-01-31 08839114 2022-01-31 08839114 2023-01-31 08839114 2022-02-01 2023-01-31 08839114 frs-core:CurrentFinancialInstruments 2023-01-31 08839114 frs-core:Non-currentFinancialInstruments 2023-01-31 08839114 frs-core:ShareCapital 2023-01-31 08839114 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 08839114
Safe Hands Medical Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Quest Accounting Services Limited
Suite 110, The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Safe Hands Medical Ltd for the year ended year which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the directors of Safe Hands Medical Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Safe Hands Medical Ltd and state those matters that we have agreed to state to the directors of Safe Hands Medical Ltd in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Safe Hands Medical Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Safe Hands Medical Ltd . You consider that Safe Hands Medical Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Safe Hands Medical Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
Quest Accounting Services Ltd
20th January 2025
Quest Accounting Services Limited
Suite 110, The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Page 1
Page 2
Balance Sheet
Registered number: 08839114
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 4,822 5,595
4,822 5,595
CURRENT ASSETS
Stocks 6 59,371 -
Debtors 7 69,141 31,986
Cash at bank and in hand 57,815 213,842
186,327 245,828
Creditors: Amounts Falling Due Within One Year 8 (10,000 ) (43,574 )
NET CURRENT ASSETS (LIABILITIES) 176,327 202,254
TOTAL ASSETS LESS CURRENT LIABILITIES 181,149 207,849
Creditors: Amounts Falling Due After More Than One Year 9 (15,000 ) (25,000 )
NET ASSETS 166,149 182,849
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 166,049 182,749
SHAREHOLDERS' FUNDS 166,149 182,849
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Page 3
For the year ending 31 January 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
Ian McGovern
Director
20th January 2025
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
Safe Hands Medical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08839114 . The registered office is 11 Scotlands Drive, Farnham Common, SL2 3ES.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 32,411
Additions (32,411 )
As at 31 January 2024 -
Amortisation
As at 1 February 2023 32,411
Provided during the period (32,411 )
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 15,056 21,219 36,275
Additions 1,112 1,059 2,171
As at 31 January 2024 16,168 22,278 38,446
Depreciation
As at 1 February 2023 9,461 21,219 30,680
Provided during the period 2,680 264 2,944
As at 31 January 2024 12,141 21,483 33,624
Net Book Value
As at 31 January 2024 4,027 795 4,822
As at 1 February 2023 5,595 - 5,595
6. Stocks
2024 2023
£ £
Work in progress 59,371 -
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Page 6
7. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets 14,950 14,950
Other taxes and social security 400 -
Directors' loan accounts 53,791 17,036
69,141 31,986
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Other taxes and social security - 33,574
10,000 43,574
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,000 25,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
S Qureshi 17,036 39,806 3,050 - 53,791
This loan is unsecured, interest free with no fixed repayment plan.
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