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Registration number: 04078655

In-Pulse Medical Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

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 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

486,250

361,846

Current assets

 

Debtors

5

126,282

164,336

Cash at bank and in hand

 

1,379,882

708,531

 

1,506,164

872,867

Creditors: Amounts falling due within one year

6

(787,470)

(396,852)

Net current assets

 

718,694

476,015

Total assets less current liabilities

 

1,204,944

837,861

Creditors: Amounts falling due after more than one year

6

(34,373)

(58,356)

Provisions for liabilities

(89,316)

(65,423)

Net assets

 

1,081,255

714,082

Capital and reserves

 

Called up share capital

10

200

200

Retained earnings

1,081,055

713,882

Shareholders' funds

 

1,081,255

714,082

For the financial year ending 31 December 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

In-Pulse Medical Services Limited

(Registration number: 04078655)
Balance Sheet as at 31 December 2022

Approved and authorised by the Board on 18 October 2023 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 2022

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 2022

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 2022

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 43 (2021 - 32).

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2022

10,036

36,740

696,555

149,579

892,910

Additions

-

105,554

167,730

30,745

304,029

Disposals

-

-

(27,600)

-

(27,600)

At 31 December 2022

10,036

142,294

836,685

180,324

1,169,339

Depreciation

At 1 January 2022

-

18,085

423,789

89,190

531,064

Charge for the year

-

32,712

105,455

22,783

160,950

Eliminated on disposal

-

-

(8,925)

-

(8,925)

At 31 December 2022

-

50,797

520,319

111,973

683,089

Carrying amount

At 31 December 2022

10,036

91,497

316,366

68,351

486,250

At 31 December 2021

10,036

18,655

272,766

60,389

361,846

Included within the net book value of land and buildings above is £10,036 (2021 - £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 2022

5

Debtors

Current

2022
£

2021
£

Trade debtors

75,854

120,226

Prepayments

39,497

33,022

Other debtors

10,931

11,088

 

126,282

164,336

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

30,716

30,716

Trade creditors

 

6,829

9,211

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

9

407,462

142,310

Taxation and social security

 

237,500

143,844

Accruals and deferred income

 

6,548

-

Other creditors

 

98,415

70,771

 

787,470

396,852

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

7

34,373

58,356

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

HP and finance lease liabilities

34,373

58,356

2022
£

2021
£

Current loans and borrowings

HP and finance lease liabilities

30,716

30,716

8

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £7,000.00 (2021 - £4,000.00) per ordinary share

 

700,000

 

400,000

         

 

In-Pulse Medical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

9

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 £407,462 (2021: £142,310).

 

10

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

A Ordinary of £1 each

100

100

100

100

 

200

200

200

200