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REGISTERED NUMBER: 05122959 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

Online Clinic (Uk) Limited

Online Clinic (Uk) Limited (Registered number: 05122959)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Online Clinic (Uk) Limited (Registered number: 05122959)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,323 1,733

CURRENT ASSETS
Debtors 5 720,778 405,943
Cash at bank and in hand 91,931 90,045
812,709 495,988
CREDITORS
Amounts falling due within one year 6 610,843 468,715
NET CURRENT ASSETS 201,866 27,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,189

29,006

CREDITORS
Amounts falling due after more than one year 7 (238,333 ) -

PROVISIONS FOR LIABILITIES (251 ) (329 )
NET (LIABILITIES)/ASSETS (35,395 ) 28,677

CAPITAL AND RESERVES
Called up share capital 8 12,000 12,000
Retained earnings (47,395 ) 16,677
SHAREHOLDERS' FUNDS (35,395 ) 28,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th February 2025 and were signed by:



R Mackay - Director


Online Clinic (Uk) Limited (Registered number: 05122959)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. COMPANY INFORMATION

Online Clinic (Uk) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05122959

Registered office: C/o Artillery Registrars Limited
7 Tufton Street
London
SW1P 3QB

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful life.

Office equipment 25% straight line
Website development 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Online Clinic (Uk) Limited (Registered number: 05122959)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 4 ).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st June 2023 17,003 61,096 78,099
Additions - 643 643
At 31st May 2024 17,003 61,739 78,742
DEPRECIATION
At 1st June 2023 17,003 59,363 76,366
Charge for year - 1,053 1,053
At 31st May 2024 17,003 60,416 77,419
NET BOOK VALUE
At 31st May 2024 - 1,323 1,323
At 31st May 2023 - 1,733 1,733

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 6,495 6,498
Other debtors 2,965 2,965
S455 recoverable 175,020 87,381
Noodle Live Limited - 30,800
Directors' current accounts 518,578 258,906
VAT 7,993 5,931
Prepayments 9,727 13,462
720,778 405,943

Online Clinic (Uk) Limited (Registered number: 05122959)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 185,520 151,920
Tax 126,608 150,690
s455 payable 87,639 -
Social security and other taxes 1,894 1,537
Other creditors 8,346 9,638
Online Medical Services Ltd 197,319 151,851
Pensions payable 517 129
Accrued expenses 3,000 2,950
610,843 468,715

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 55,000 -
Bank loans - 2-5 years 183,333 -
238,333 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
12,000 Ordinary 1 12,000 12,000

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

31.5.24 31.5.23
£    £   
R Mackay
Balance outstanding at start of year 258,905 66,180
Amounts advanced 305,800 344,500
Amounts repaid (46,128 ) (151,775 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 518,577 258,905

10. RELATED PARTY DISCLOSURES

During the year, the company operated a loan account with Online Medical Services Limited, which is a related party by virtue of common control. At the balance sheet date, the company owed £197,319 (2023: £151,851) to Online Medical Services Limited. During the year, the company was charged £Nil in management fees (2023: £12,000), received £66,512 (2023:£Nil) and repaid £Nil (2023: £1,301). This balance is included in other creditors and is unsecured, interest-free and repayable-on-demand.

During the year, the company operated a loan account with Noodle Live Limited; a company of which director R Mackay is a director and significant shareholder. The company has been placed into liquidation and the loan balance of £183,300 has been written off in full..

Online Clinic (Uk) Limited (Registered number: 05122959)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

11. ULTIMATE CONTROLLING PARTY

The controlling party is R Mackay.