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Registered number: 03871644
A-Z Healthcare (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Saymur Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03871644
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 63,709 65,060
63,709 65,060
CURRENT ASSETS
Stocks 5 47,498 41,432
Debtors 6 153,593 283,939
Cash at bank and in hand 822,634 711,948
1,023,725 1,037,319
Creditors: Amounts Falling Due Within One Year 7 (167,689 ) (162,497 )
NET CURRENT ASSETS (LIABILITIES) 856,036 874,822
TOTAL ASSETS LESS CURRENT LIABILITIES 919,745 939,882
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,685 ) (1,777 )
NET ASSETS 918,060 938,105
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 917,960 938,005
SHAREHOLDERS' FUNDS 918,060 938,105
Page 1
Page 2
For the year ending 31 May 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 Olufolahan Sotubo
Director
13/02/2025
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
A-Z Healthcare (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03871644 . The registered office is Metroline House, 118-122 College Road, Harrow, HA1 1BQ.
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:
Leasehold straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. 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.
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2023 60,312 6,994 87,987 93,525 248,818
Additions - 11,605 - - 11,605
As at 31 May 2024 60,312 18,599 87,987 93,525 260,423
Depreciation
As at 1 June 2023 60,383 2,243 31,675 89,457 183,758
Provided during the period (71 ) 950 11,263 814 12,956
As at 31 May 2024 60,312 3,193 42,938 90,271 196,714
...CONTINUED
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Net Book Value
As at 31 May 2024 - 15,406 45,049 3,254 63,709
As at 1 June 2023 (71 ) 4,751 56,312 4,068 65,060
5. Stocks
2024 2023
£ £
Finished goods 47,498 41,432
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 88,116 96,342
Other debtors 2,200 2,200
VAT 10,406 9,286
Directors' loan accounts 52,871 176,111
153,593 283,939
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 146,545 126,901
Corporation tax 11,132 25,503
Other taxes and social security 5,606 5,746
Accruals and deferred income 4,406 4,347
167,689 162,497
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Olufolahan Sotubo 176,112 - 123,240 - 52,872
The above loan is unsecured, interest charged @2.25% p.a. This loan is getting repaid.
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