Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01truefalseRetail pharmacy97truefalse 06828661 2023-02-01 2024-01-31 06828661 2022-02-01 2023-01-31 06828661 2024-01-31 06828661 2023-01-31 06828661 c:Director2 2023-02-01 2024-01-31 06828661 d:PlantMachinery 2023-02-01 2024-01-31 06828661 d:PlantMachinery 2024-01-31 06828661 d:PlantMachinery 2023-01-31 06828661 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06828661 d:FurnitureFittings 2023-02-01 2024-01-31 06828661 d:FurnitureFittings 2024-01-31 06828661 d:FurnitureFittings 2023-01-31 06828661 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06828661 d:OfficeEquipment 2023-02-01 2024-01-31 06828661 d:OfficeEquipment 2024-01-31 06828661 d:OfficeEquipment 2023-01-31 06828661 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06828661 d:ComputerEquipment 2023-02-01 2024-01-31 06828661 d:ComputerEquipment 2024-01-31 06828661 d:ComputerEquipment 2023-01-31 06828661 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06828661 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06828661 d:Goodwill 2023-02-01 2024-01-31 06828661 d:Goodwill 2024-01-31 06828661 d:Goodwill 2023-01-31 06828661 d:CurrentFinancialInstruments 2024-01-31 06828661 d:CurrentFinancialInstruments 2023-01-31 06828661 d:Non-currentFinancialInstruments 2024-01-31 06828661 d:Non-currentFinancialInstruments 2023-01-31 06828661 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 06828661 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06828661 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 06828661 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06828661 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 06828661 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 06828661 d:ShareCapital 2024-01-31 06828661 d:ShareCapital 2023-01-31 06828661 d:RetainedEarningsAccumulatedLosses 2024-01-31 06828661 d:RetainedEarningsAccumulatedLosses 2023-01-31 06828661 c:FRS102 2023-02-01 2024-01-31 06828661 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06828661 c:FullAccounts 2023-02-01 2024-01-31 06828661 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06828661 2 2023-02-01 2024-01-31 06828661 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 06828661 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 06828661










FIGTREE HEALTHCARE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
FIGTREE HEALTHCARE LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFFIGTREE HEALTHCARE LTD
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Figtree Healthcare Ltd for the year ended 31 January 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of Figtree Healthcare Ltd, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Figtree Healthcare Ltd and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Figtree Healthcare Ltd and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Figtree Healthcare Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Figtree Healthcare Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Figtree Healthcare 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.







Shipleys Tax Planning

28 January 2025
Page 1

 
FIGTREE HEALTHCARE LTD
REGISTERED NUMBER: 06828661

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
35,000
42,000

Tangible assets
 5 
7,152
8,427

  
42,152
50,427

Current assets
  

Stocks
  
39,250
38,750

Debtors: amounts falling due after more than one year
 6 
13,185
-

Debtors: amounts falling due within one year
 6 
209,487
200,480

Cash at bank and in hand
 7 
237,234
295,999

  
499,156
535,229

Creditors: amounts falling due within one year
 8 
(233,685)
(251,399)

Net current assets
  
 
 
265,471
 
 
283,830

Total assets less current liabilities
  
307,623
334,257

Creditors: amounts falling due after more than one year
 9 
(24,168)
(34,167)

  

Net assets
  
283,455
300,090


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
283,355
299,990

  
283,455
300,090


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 on
Page 2

 
FIGTREE HEALTHCARE LTD
REGISTERED NUMBER: 06828661

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

28 January 2025.







Zeashan Iqbal
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Figtree Healthcare Ltd is a company domiciled in England & Wales, registration number 06828661. The registered office is 51 Brantingham Street, Whalley Range, Manchester, M16 8PP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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;
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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

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.


 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other 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.

Page 5

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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:

Plant and machinery
-
20%
Fixtures and fittings
-
25%
Office equipment
-
25%
Computer equipment
-
33%

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 weighted average 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.

 
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.

Page 6

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 7).


4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
140,000



At 31 January 2024

140,000



Amortisation


At 1 February 2023
98,000


Charge for the year on owned assets
7,000



At 31 January 2024

105,000



Net book value



At 31 January 2024
35,000



At 31 January 2023
42,000



Page 8

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
317
10,206
3,828
14,437
28,788


Additions
-
808
-
2,741
3,549



At 31 January 2024

317
11,014
3,828
17,178
32,337



Depreciation


At 1 February 2023
158
6,217
2,100
11,886
20,361


Charge for the year on owned assets
79
1,379
426
2,940
4,824



At 31 January 2024

237
7,596
2,526
14,826
25,185



Net book value



At 31 January 2024
80
3,418
1,302
2,352
7,152



At 31 January 2023
159
3,989
1,728
2,551
8,427


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
13,185
-

13,185
-


2024
2023
£
£

Due within one year

Trade debtors
167,885
176,342

Other debtors
41,602
24,138

209,487
200,480


Page 9

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
237,234
295,999

237,234
295,999



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
109,546
140,630

Corporation tax
37,459
27,824

Accruals and deferred income
86,680
82,945

233,685
251,399



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
24,168
34,167

24,168
34,167



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
24,167
34,167


24,167
34,167


24,167
34,167


During the year the company repaid £10,000. At the balance sheet date other creditors falling due after more than 5 years is £24,167 owed for the Bounce Back Loan.

Page 10

 
FIGTREE HEALTHCARE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Related party transactions

During the year the company loaned the directors £18,306. Interest has been charged at rates varying from 6% to 7.75% on the total outstanding loan balance. At the year end other debtors included £18,306 as amounts owed to the company by the directors.


Page 11