Registration number:
|
North Devon Health Limited |
North Devon Health Limited
Contents
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
North Devon Health Limited
(Registration number: 11482657)
Balance Sheet as at 31 July 2024
|
Note |
2024 |
2023 |
|
|
Fixed Assets |
|||
|
Tangible Assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Other financial assets |
212,548 |
19,734 |
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and Reserves |
|||
|
Called up share capital |
|
|
|
|
Retained Earnings |
|
|
|
|
Shareholders' funds |
|
|
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
|
• |
|
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised for issue by the
R Cove
Director
North Devon Health Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
|
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Judgements
There are no judgements which management have made in the process of applying the accounting policies. |
Key sources of estimation uncertainty
There are no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..
North Devon Health Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible Assets
Tangible Assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Office equipment |
33% Straight line |
Trade Debtors
Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
North Devon Health Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Trade Creditors
Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Financial instruments
Classification
Recognition and measurement
Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are classified as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.
Impairment
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
North Devon Health Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
|
Staff numbers |
The average number of persons employed by the company (including the director under service contract) during the year, was
|
Tangible Assets |
|
Office equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 August 2023 |
|
|
|
At 31 July 2024 |
|
|
|
Depreciation |
||
|
At 1 August 2023 |
|
|
|
Charge for the year |
|
|
|
At 31 July 2024 |
|
|
|
Carrying amount |
||
|
At 31 July 2024 |
|
|
|
At 31 July 2023 |
|
|
North Devon Health Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
|
Other financial assets (current and non-current) |
|
Financial assets at fair value through profit and loss |
Total |
|
|
Current financial assets |
||
|
Cost or valuation |
||
|
At 1 August 2023 |
131,703 |
131,703 |
|
Additions |
148,500 |
148,500 |
|
At 31 July 2024 |
280,203 |
280,203 |
|
Impairment |
||
|
Losses, market value movement and other charges made in the period |
67,655 |
67,655 |
|
At 31 July 2024 |
67,655 |
67,655 |
|
Carrying amount |
||
|
At 31 July 2024 |
|
212,548 |
|
Debtors |
|
Current |
Note |
2024 |
2023 |
|
Amounts owed by related parties |
|
|
|
|
Prepayments |
|
|
|
|
Other debtors |
|
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
|
|
Due within one year |
||
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
|
|
North Devon Health Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Related party transactions |
|
Transactions with the director |
|
2024 |
At 1 August 2023 |
Advances to director |
At 31 July 2024 |
|
R Cove |
|||
|
|
( |
( |
( |