Telehealth Solutions Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05806436 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

TELEHEALTH SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C McMail

REGISTERED OFFICE:

Old Coach House

Button Park

Pontefract

West Yorkshire

WF8 4HT

REGISTERED NUMBER:

05806436 (England and Wales)

ACCOUNTANTS:

Galbraith Pritchards

20 Barns Street

Ayr

Ayrshire

KA7 1XA

CURRENT ASSETS

Stocks

20,000

47,000

Debtors

5

1,240,107

1,017,520

Cash at bank

237,623

2,390,375

1,497,730

3,454,895

CREDITORS

Amounts falling due within one year

6

592,759

371,199

NET CURRENT ASSETS

904,971

3,083,696

TOTAL ASSETS LESS CURRENT LIABILITIES

904,971

3,083,696

CAPITAL AND RESERVES

Called up share capital

3,283,349

3,283,349

Share premium

2,150,599

2,150,599

Other reserves

4,778,384

4,778,384

Retained earnings

(9,307,361

)

(7,128,636

)

SHAREHOLDERS' FUNDS

904,971

3,083,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2023 and were signed by:

C McMail - Director

1.	STATUTORY INFORMATION

Telehealth Solutions Limited 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.

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.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

TURNOVER

Turnover is stated net of VAT and trade discounts. Turnover represents earnings from service contracts and sale of telehealth products. Turnover is recognised when the company obtains the right to the consideration when risks and rewards of the product has been passed onto the customer or the service is delivered.

TANGIBLE FIXED ASSETS

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

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on cost

A review of impairment is carried out at each reporting date. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

RESEARCH AND DEVELOPMENT

Expenditure on research and development is written off in the year in which it is incurred.

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.

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 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2021

and 30 April 2022

116,005

127,826

243,831

DEPRECIATION

At 1 May 2021

and 30 April 2022

116,005

127,826

243,831

NET BOOK VALUE

At 30 April 2022

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/22

30/4/21

£

£

Trade debtors

484,867

235,369

Amounts owed by group undertakings

196,964

168,768

Other debtors

558,276

613,383

1,240,107

1,017,520

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/22

30/4/21

£

£

Trade creditors

36,989

47,407

Taxation and social security

110,390

50,422

Other creditors

445,380

273,370

592,759

371,199

7.	ULTIMATE CONTROLLING PARTY