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REGISTERED NUMBER: 06586193 (England and Wales)















ELGAR HEALTHCARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ELGAR HEALTHCARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs E Sullivan
Dr R Unnikrishnan
Dr D L Montford





REGISTERED OFFICE: Grey Gable Surgery
High Street
Inkberrow
Worcester
Worcestershire
WR7 4BW





REGISTERED NUMBER: 06586193 (England and Wales)





ACCOUNTANTS: TCA (Shrewsbury) LLP
Third Floor
21 St Mary's Street
Shrewsbury
Shropshire
SY1 1ED

ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,820 36,152

CURRENT ASSETS
Stocks 5 37,481 35,113
Debtors 6 301,908 264,961
Cash at bank 446,860 420,378
786,249 720,452
CREDITORS
Amounts falling due within one year 7 336,718 290,729
NET CURRENT ASSETS 449,531 429,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,351

465,875

PROVISIONS FOR LIABILITIES 5,877 7,691
NET ASSETS 471,474 458,184

CAPITAL AND RESERVES
Called up share capital 18 18
Share premium 63 63
Capital redemption reserve 105,094 105,094
Retained earnings 366,299 353,009
SHAREHOLDERS' FUNDS 471,474 458,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Mrs E Sullivan - Director


ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Elgar Healthcare Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 06586193 and registered office address is:
Grey Gable Surgery
High Street
Inkberrow
Worcester
Worcestershire
WR7 4BW

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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payments obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Interest income
Interest income is recognised in the Profit and loss account using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 26 ) .

ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Equipment Totals
£    £    £    £   
COST
At 1 April 2022 10,775 40,053 8,000 58,828
Additions - 582 - 582
At 31 March 2023 10,775 40,635 8,000 59,410
DEPRECIATION
At 1 April 2022 5,385 13,384 3,907 22,676
Charge for year 1,077 6,813 1,024 8,914
At 31 March 2023 6,462 20,197 4,931 31,590
NET BOOK VALUE
At 31 March 2023 4,313 20,438 3,069 27,820
At 31 March 2022 5,390 26,669 4,093 36,152

5. STOCKS
2023 2022
£    £   
Stocks 37,481 35,113

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,346 2,050
Other debtors 277,499 248,124
Pension - 576
VAT 17,063 14,211
301,908 264,961

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 166,940 163,073
Corporation tax 1,918 6,088
Social security and other taxes 23,534 20,382
Other creditors 139,505 80,054
Pension 4,821 21,132
336,718 290,729

ELGAR HEALTHCARE LIMITED (REGISTERED NUMBER: 06586193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. FINANCIAL INSTRUMENTS

2023 2022
£ £
Financial assets
Financial assets measured at fair value through profit or loss 446,861 420,377
Financial assets that are debt instruments measured at amortised
cost

301,908

264,384
748,769 684,761

Financial liabilities
Financial liabilities measured at amortised cost (306,443 ) (243,126 )
(306,443 ) (243,126 )

Financial assets measured at fair value through profit or loss compromised the cash at bank.
Financial assets measured at amortised cost compromise trade debtors and other debtors.

Financial liabilities measured at amortised cost comprise trade and other creditors and accruals.

9. LEASE COMMITMENT

Annual commitment of £103,650 (2022: £103,650) for property rent.