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COMPANY REGISTRATION NUMBER: 07362918
Appletree Healthcare Ltd
Filleted Unaudited Financial Statements
30 June 2022
Appletree Healthcare Ltd
Statement of Financial Position
30 June 2022
30 Jun 22
31 Dec 20
Note
£
£
£
Fixed assets
Intangible assets
5
539,604
Tangible assets
6
46,318
----
---------
585,922
Current assets
Stocks
56,085
Debtors
7
214,543
221,458
Cash at bank and in hand
1,919,316
707,817
------------
---------
2,133,859
985,360
Creditors: amounts falling due within one year
8
152,012
270,999
------------
---------
Net current assets
1,981,847
714,361
------------
------------
Total assets less current liabilities
1,981,847
1,300,283
Creditors: amounts falling due after more than one year
9
2,500
Provisions
Taxation including deferred tax
6,384
------------
------------
Net assets
1,981,847
1,291,399
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,981,747
1,291,299
------------
------------
Shareholders funds
1,981,847
1,291,399
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Appletree Healthcare Ltd
Statement of Financial Position (continued)
30 June 2022
These financial statements were approved by the board of directors and authorised for issue on 5 September 2022 , and are signed on behalf of the board by:
Mr K C Patel
Mr M C Patel
Director
Director
Company registration number: 07362918
Appletree Healthcare Ltd
Notes to the Financial Statements
Period from 1 January 2021 to 30 June 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 176 Franciscan Road, SW17 8HH, London.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by the directors in preparing these financial statements
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
6% straight line
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 10 (2020: 13 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2021
982,379
Additions
Disposals of previously acquired businesses
( 982,379)
---------
At 30 June 2022
---------
Amortisation
At 1 January 2021
442,775
Charge for the period
36,867
Disposals of previously acquired businesses
( 479,642)
---------
At 30 June 2022
---------
Carrying amount
At 30 June 2022
---------
At 31 December 2020
539,604
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2021
29,115
148,439
177,554
Disposals
( 29,115)
( 148,439)
( 177,554)
--------
---------
---------
At 30 June 2022
--------
---------
---------
Depreciation
At 1 January 2021
17,546
113,690
131,236
Charge for the period
1,276
5,805
7,081
Disposals
( 18,822)
( 119,495)
( 138,317)
--------
---------
---------
At 30 June 2022
--------
---------
---------
Carrying amount
At 30 June 2022
--------
---------
---------
At 31 December 2020
11,569
34,749
46,318
--------
---------
---------
7. Debtors
30 Jun 22
31 Dec 20
£
£
Trade debtors
130,911
Other debtors
214,543
90,547
---------
---------
214,543
221,458
---------
---------
8. Creditors: amounts falling due within one year
30 Jun 22
31 Dec 20
£
£
Trade creditors
198
148,007
Corporation tax
145,235
35,725
Social security and other taxes
79
4,801
Other creditors
6,500
82,466
---------
---------
152,012
270,999
---------
---------
9. Creditors: amounts falling due after more than one year
30 Jun 22
31 Dec 20
£
£
Crailmay Limited
2,500
----
-------
10. Directors' advances, credits and guarantees
The company advanced amounts to directors during the period ended on 30 June 2022. The balance receivable from the directors, including the interest payable on those loans, as at the end of the period was £206020 (2020 £1355). This amount was fully repaid to the company subsequent to the period end.