Iodem Health Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05479738 (England and Wales)

Financial Statements for the Year Ended 31 October 2018

for

IODEM HEALTH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M R Hawthorne

Mrs J M Hawthorne

R J Tunnicliffe

SECRETARY:

Mrs J M Hawthorne

REGISTERED OFFICE:

8 Stonebridge

DARLINGTON

Co. Durham

DL1 1PB

REGISTERED NUMBER:

05479738 (England and Wales)

ACCOUNTANTS:

King Hope

Chartered Accountants

31-33 Victoria Road

Darlington

Co. Durham

DL1 5SB

FIXED ASSETS

Tangible assets

4

13,819

14,891

CURRENT ASSETS

Debtors

5

157,336

130,875

Cash at bank

73,211

58,127

230,547

189,002

CREDITORS

Amounts falling due within one year

6

159,143

107,414

NET CURRENT ASSETS

71,404

81,588

TOTAL ASSETS LESS CURRENT LIABILITIES

85,223

96,479

PROVISIONS FOR LIABILITIES

-

2,829

NET ASSETS

85,223

93,650

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

84,823

93,250

SHAREHOLDERS' FUNDS

85,223

93,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 3 July 2019 and were signed on its behalf by:

Mrs J M Hawthorne - Director

1.	STATUTORY INFORMATION

Iodem Health Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Rentals receivable under operating leases are recognised on a straight line basis over the period of the lease.

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.

Government grants

Government grants received are credited to the profit and loss account in the period to which they relate.

Long term contracts and work in progress

Stocks and work in progress are valued in the accounts at the lower of cost and net realisable value after making

due allowance for obsolete and slow moving items. 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2017

91,971

Additions

3,073

At 31 October 2018

95,044

DEPRECIATION

At 1 November 2017

77,080

Charge for year

4,145

At 31 October 2018

81,225

NET BOOK VALUE

At 31 October 2018

13,819

At 31 October 2017

14,891

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

50,097

62,805

Amounts owed by associated companies

26,474

28,974

Amounts recoverable on contract

26,473

8,431

Other debtors

17,638

2,722

Directors' current accounts

16,696

20,134

Corporation tax recoverable

-

1,399

Prepayments and accrued income

19,958

6,410

157,336

130,875

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

46,281

17,388

Amounts owed to associated companies

6,094

5,813

Corporation tax

7,035

12,781

Social security and other taxes

3,000

9,130

Accruals and deferred income

96,733

62,302

159,143

107,414

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2018 and

31 October 2017:

2018

2017

£

£

Dr M R Hawthorne

Balance outstanding at start of year

12,378

-

Amounts advanced

696

12,378

Amounts repaid

(12,378

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

696

12,378

Mrs J M Hawthorne

Balance outstanding at start of year

7,756

(18,704

)

Amounts advanced

16,000

26,460

Amounts repaid

(7,756

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,000

7,756

The above loans are interest free.