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Registration number: 04078655

In-Pulse Medical Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

In-Pulse Medical Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

In-Pulse Medical Services Limited

Company Information

Directors

Mr SS Palmer-Jezard

Mr DR Palmer-Jezard

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

In-Pulse Medical Services Limited

(Registration number: 04078655)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

361,846

229,753

Current assets

 

Debtors

5

164,337

365,612

Cash at bank and in hand

 

708,531

178,831

 

872,868

544,443

Creditors: Amounts falling due within one year

6

(396,853)

(203,876)

Net current assets

 

476,015

340,567

Total assets less current liabilities

 

837,861

570,320

Creditors: Amounts falling due after more than one year

6

(58,356)

(59,835)

Provisions for liabilities

(65,423)

-

Net assets

 

714,082

510,485

Capital and reserves

 

Called up share capital

9

200

200

Profit and loss account

713,882

510,285

Shareholders' funds

 

714,082

510,485

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

In-Pulse Medical Services Limited

(Registration number: 04078655)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:



 

.........................................

Mr SS Palmer-Jezard

Director

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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 and deferred 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.

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing Balance

Plant & Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Computer Equipment

25% Reducing Balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2020 - 15).

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2021

10,036

30,717

523,754

80,877

645,384

Additions

-

6,023

194,665

68,702

269,390

Disposals

-

-

(21,864)

-

(21,864)

At 31 December 2021

10,036

36,740

696,555

149,579

892,910

Depreciation

At 1 January 2021

-

11,238

335,333

69,060

415,631

Charge for the year

-

6,847

92,672

20,130

119,649

Eliminated on disposal

-

-

(4,216)

-

(4,216)

At 31 December 2021

-

18,085

423,789

89,190

531,064

Carrying amount

At 31 December 2021

10,036

18,655

272,766

60,389

361,846

At 31 December 2020

10,036

19,479

188,421

11,817

229,753

Included within the net book value of land and buildings above is £10,036 (2020 - £10,036) in respect of freehold land and buildings.
 

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Debtors

Note

2021
£

2020
£

Trade debtors

 

120,226

196,180

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

-

139,279

Prepayments

 

33,021

17,764

Other debtors

 

11,090

12,389

 

164,337

365,612

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

7

30,716

33,423

Trade creditors

 

9,211

26,894

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

142,310

-

Taxation and social security

 

143,844

85,565

Accruals and deferred income

 

-

1,000

Other creditors

 

70,772

56,994

 

396,853

203,876

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

58,356

59,835

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Hire purchase contracts

58,356

59,835

2021
£

2020
£

Current loans and borrowings

Hire purchase contracts

30,716

33,423

8

Related party transactions

Summary of transactions with parent

South East Ambulance Limited
A company in which Mr S Palmer-Jezard and Mr D R Palmer-Jezard are also directors.

Amount due to related party at the balance sheet date amounted to £142,310 (2020: (£139,279)).

 

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

A Ordinary of £1 each

100

100

100

100

 

200

200

200

200