Company Registration No. 06041758 (England and Wales)
House Medics Limited
Unaudited accounts
for the year ended 31 January 2023
House Medics Limited
Unaudited accounts
Contents
House Medics Limited
Company Information
for the year ended 31 January 2023
Directors
Jonathan Bootland
Janine Bootland
Company Number
06041758 (England and Wales)
Registered Office
First Floor
85 Great Portland Street
London
W1W 7LT
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
House Medics Limited
Accountants' report
Accountants' report to the board of directors of House Medics Limited on the preparation of the unaudited statutory accounts for the year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
House Medics Limited for the year ended
31 January 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of House Medics Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of House Medics Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than House Medics Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that House Medics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of House Medics Limited. You consider that House Medics Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of House Medics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
17 October 2023
House Medics Limited
Statement of financial position
as at 31 January 2023
Cash at bank and in hand
3,033
7,544
Creditors: amounts falling due within one year
(65,921)
(31,409)
Net current assets
104,264
116,073
Total assets less current liabilities
104,265
116,074
Creditors: amounts falling due after more than one year
(41,924)
(47,092)
Called up share capital
1,000
1,000
Profit and loss account
61,341
67,982
Shareholders' funds
62,341
68,982
For the year ending 31 January 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by
Jonathan Bootland
Director
Company Registration No. 06041758
House Medics Limited
Notes to the Accounts
for the year ended 31 January 2023
House Medics Limited is a private company, limited by shares, registered in England and Wales, registration number 06041758. The registered office is First Floor, 85 Great Portland Street, London, W1W 7LT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Computer equipment
25% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
House Medics Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
2,015
5,174
7,189
At 31 January 2023
2,015
5,174
7,189
At 1 February 2022
2,015
5,173
7,188
At 31 January 2023
2,015
5,173
7,188
Amounts falling due within one year
Other debtors
166,966
139,938
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
346
Loans from directors
41,911
30,908
7
Creditors: amounts falling due after more than one year
2023
2022
In June 2020, the company received a Bounce Back Loan of £50,000, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government.
After the first 12 months, an interest rate of 2.5% is applicable.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
8
Transactions with related parties
At the balance sheet date the company was owed a total of £166,966 (2022 - £139,938) by related companies. These balances are interest-free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
