Acorah Software Products - Accounts Production 15.0.600 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 12021679 Mr Thomas Warrender Mrs Davina Warrender iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12021679 2023-08-31 12021679 2024-08-31 12021679 2023-09-01 2024-08-31 12021679 frs-core:CurrentFinancialInstruments 2024-08-31 12021679 frs-core:Non-currentFinancialInstruments 2024-08-31 12021679 frs-core:ComputerEquipment 2024-08-31 12021679 frs-core:ComputerEquipment 2023-09-01 2024-08-31 12021679 frs-core:ComputerEquipment 2023-08-31 12021679 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 12021679 frs-core:FurnitureFittings 2024-08-31 12021679 frs-core:FurnitureFittings 2023-09-01 2024-08-31 12021679 frs-core:FurnitureFittings 2023-08-31 12021679 frs-core:MotorVehicles 2024-08-31 12021679 frs-core:MotorVehicles 2023-09-01 2024-08-31 12021679 frs-core:MotorVehicles 2023-08-31 12021679 frs-core:OtherResidualIntangibleAssets 2024-08-31 12021679 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 12021679 frs-core:OtherResidualIntangibleAssets 2023-08-31 12021679 frs-core:PlantMachinery 2024-08-31 12021679 frs-core:PlantMachinery 2023-09-01 2024-08-31 12021679 frs-core:PlantMachinery 2023-08-31 12021679 frs-core:ShareCapital 2024-08-31 12021679 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 12021679 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12021679 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 12021679 frs-bus:SmallEntities 2023-09-01 2024-08-31 12021679 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12021679 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12021679 frs-bus:Director1 2023-09-01 2024-08-31 12021679 frs-bus:Director2 2023-09-01 2024-08-31 12021679 frs-countries:EnglandWales 2023-09-01 2024-08-31 12021679 2022-08-31 12021679 2023-08-31 12021679 2022-09-01 2023-08-31 12021679 frs-core:CurrentFinancialInstruments 2023-08-31 12021679 frs-core:Non-currentFinancialInstruments 2023-08-31 12021679 frs-core:ShareCapital 2023-08-31 12021679 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 12021679
Medicfest Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12021679
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,414 8,081
Tangible Assets 5 22,362 25,754
27,776 33,835
CURRENT ASSETS
Stocks 6 15,000 15,000
Debtors 7 103,343 41,846
Cash at bank and in hand 6,866 52,954
125,209 109,800
Creditors: Amounts Falling Due Within One Year 8 (97,813 ) (104,616 )
NET CURRENT ASSETS (LIABILITIES) 27,396 5,184
TOTAL ASSETS LESS CURRENT LIABILITIES 55,172 39,019
Creditors: Amounts Falling Due After More Than One Year 9 (57,867 ) (15,992 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,395 ) (4,893 )
NET (LIABILITIES)/ASSETS (4,090 ) 18,134
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account (4,190 ) 18,034
SHAREHOLDERS' FUNDS (4,090) 18,134
Page 1
Page 2
For the year ending 31 August 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 Thomas Warrender
Director
13 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Medicfest Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12021679 . The registered office is C/O Sempar, Office 2.026, Innovation Centre 7, Keele University , Keele, Staffordshire, ST5 5NU.
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. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.The director has agreed to provide continuing support for a period of at least 12 months from the date of signing the balance sheet. 
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are measured at cost less accumulated amortisation. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. 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
Motor Vehicles 20% Reducing balance
Fixtures & Fittings 33.33% Straight line
Computer Equipment 33.33% Straight line
2.6. 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.
2.7. 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.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 13,335
As at 31 August 2024 13,335
Amortisation
As at 1 September 2023 5,254
Provided during the period 2,667
As at 31 August 2024 7,921
Net Book Value
As at 31 August 2024 5,414
As at 1 September 2023 8,081
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 20,824 14,135 973 6,066 41,998
Additions 6,638 - 500 - 7,138
Disposals - - - (119 ) (119 )
As at 31 August 2024 27,462 14,135 1,473 5,947 49,017
Depreciation
As at 1 September 2023 6,540 4,475 628 4,601 16,244
Provided during the period 6,865 1,932 491 1,163 10,451
Disposals - - - (40 ) (40 )
As at 31 August 2024 13,405 6,407 1,119 5,724 26,655
Net Book Value
As at 31 August 2024 14,057 7,728 354 223 22,362
As at 1 September 2023 14,284 9,660 345 1,465 25,754
Page 4
Page 5
6. Stocks
2024 2023
£ £
Materials 15,000 15,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,442 29,406
Prepayments and accrued income 267 11,440
Other debtors 29,050 1,000
Corporation tax recoverable assets 3,955 -
Directors' loan accounts 52,629 -
103,343 41,846
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,738 2,422
Bank loans and overdrafts 12,771 1,275
Corporation tax 17,762 21,619
Other taxes and social security 19,577 11,308
VAT 24,960 29,721
Other creditors 297 17,687
Accruals and deferred income 9,708 20,466
Directors' loan accounts - 118
97,813 104,616
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 57,867 15,992
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 49,024 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Page 5
Page 6
Included within Debtors are loans to the director totalling £52,629 (2023 - £NIL). The loans are unsecured, repayable on demand and interest is charged at a rate of 2.25%.
Dividends paid to directors £NIL (2023: £17,000)
Page 6