14 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 135,000 94,500 6,750 101,250 33,750 40,500 xbrli:pure xbrli:shares iso4217:GBP 6169712 2022-04-01 2023-03-31 6169712 2023-03-31 6169712 2022-03-31 6169712 2021-04-01 2022-03-31 6169712 2022-03-31 6169712 core:NetGoodwill 2022-04-01 2023-03-31 6169712 core:PlantMachinery 2022-04-01 2023-03-31 6169712 core:FurnitureFittings 2022-04-01 2023-03-31 6169712 core:MotorVehicles 2022-04-01 2023-03-31 6169712 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 6169712 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 6169712 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 6169712 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 6169712 bus:OrdinaryShareClass5 2022-04-01 2023-03-31 6169712 bus:Director2 2022-04-01 2023-03-31 6169712 core:NetGoodwill 2022-03-31 6169712 core:NetGoodwill 2023-03-31 6169712 core:PlantMachinery 2022-03-31 6169712 core:FurnitureFittings 2022-03-31 6169712 core:PlantMachinery 2023-03-31 6169712 core:FurnitureFittings 2023-03-31 6169712 core:WithinOneYear 2023-03-31 6169712 core:WithinOneYear 2022-03-31 6169712 core:AfterOneYear 2023-03-31 6169712 core:AfterOneYear 2022-03-31 6169712 core:ShareCapital 2023-03-31 6169712 core:ShareCapital 2022-03-31 6169712 core:RetainedEarningsAccumulatedLosses 2023-03-31 6169712 core:RetainedEarningsAccumulatedLosses 2022-03-31 6169712 core:NetGoodwill 2022-03-31 6169712 core:PlantMachinery 2022-03-31 6169712 core:FurnitureFittings 2022-03-31 6169712 bus:SmallEntities 2022-04-01 2023-03-31 6169712 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 6169712 bus:FullAccounts 2022-04-01 2023-03-31 6169712 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 6169712 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 6169712 bus:AllOrdinaryShares 2023-03-31 6169712 bus:AllOrdinaryShares 2022-03-31 6169712 bus:OrdinaryShareClass2 2023-03-31 6169712 bus:OrdinaryShareClass2 2022-03-31 6169712 bus:OrdinaryShareClass3 2023-03-31 6169712 bus:OrdinaryShareClass3 2022-03-31 6169712 bus:OrdinaryShareClass4 2023-03-31 6169712 bus:OrdinaryShareClass4 2022-03-31 6169712 bus:OrdinaryShareClass5 2023-03-31 6169712 bus:OrdinaryShareClass5 2022-03-31 6169712 bus:Director4 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 6169712
Watlington Health Limited
Unaudited financial statements
31 March 2023
Watlington Health Limited
Statement of financial position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
33,750
40,500
Tangible assets
6
13,972
16,855
-------
-------
47,722
57,355
Current assets
Stocks
45,220
56,006
Debtors
7
220,229
373,000
Cash at bank and in hand
53,200
85,843
---------
---------
318,649
514,849
Creditors: Amounts falling due within one year
8
( 223,628)
( 394,302)
---------
---------
Net current assets
95,021
120,547
---------
---------
Total assets less current liabilities
142,743
177,902
Creditors: Amounts falling due after more than one year
9
( 43,275)
( 46,885)
Provisions
Taxation including deferred tax
( 2,398)
( 3,202)
---------
---------
Net assets
97,070
127,815
---------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
96,970
127,715
-------
---------
Shareholders funds
97,070
127,815
-------
---------
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 year ending 31 March 2023 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 year 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 .
Watlington Health Limited
Statement of financial position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
Dr A Kant
Director
Company registration number: 6169712
Watlington Health Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lovewell Blake LLP, Bankside 300, Broadland Business Park, Norwich, NR70LB, Norfolk.
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
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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:
Pharmacy Licence
-
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.
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:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
33% straight line
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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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.
4. Employee numbers
The average number of employees during the year was 14 (2022: 12 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
135,000
---------
Amortisation
At 1 April 2022
94,500
Charge for the year
6,750
---------
At 31 March 2023
101,250
---------
Carrying amount
At 31 March 2023
33,750
---------
At 31 March 2022
40,500
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2022
91,643
3,612
95,255
Additions
1,984
1,984
-------
------
-------
At 31 March 2023
91,643
5,596
97,239
-------
------
-------
Depreciation
At 1 April 2022
74,797
3,603
78,400
Charge for the year
4,212
655
4,867
-------
------
-------
At 31 March 2023
79,009
4,258
83,267
-------
------
-------
Carrying amount
At 31 March 2023
12,634
1,338
13,972
-------
------
-------
At 31 March 2022
16,846
9
16,855
-------
------
-------
7. Debtors
2023
2022
£
£
Trade debtors
75,836
74,827
Other debtors
144,393
298,173
---------
---------
220,229
373,000
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,744
3,125
Trade creditors
149,695
184,127
Social security and other taxes
4,741
45,513
Watlington Medical Centre- Loan
57,363
157,000
Other creditors
5,085
4,537
---------
---------
223,628
394,302
---------
---------
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
43,275
46,885
-------
-------
10. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary Class 1 shares of £ 0.01 each
100
1
100
1
Ordinary Class 2 A shares of £ 0.01 each
10,000
100
10,000
100
Ordinary Class 2 B shares of £ 0.01 each
10,000
100
10,000
100
Ordinary Class 2 C shares of £ 0.01 each
10,000
100
10,000
100
Ordinary Class 2 D shares of £ 0.01 each
10,000
100
10,000
100
Ordinary Class 2 E shares of £0.01 each
10,000
100
10,000
100
Ordinary Class 2 F shares of £0.01 each
49,890
499
49,890
499
Ordinary Class 3 shares of £0.01 each
10
10
---------
------
---------
------
100,000
1,000
100,000
1,000
---------
------
---------
------
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary Class 2 A shares of £ 0.01 each
3,182
32
3,182
32
Ordinary Class 2 B shares of £ 0.01 each
1,818
18
1,818
18
Ordinary Class 2 C shares of £ 0.01 each
2,727
27
2,727
27
Ordinary Class 2 D shares of £ 0.01 each
2,273
23
2,273
23
-------
----
-------
----
10,000
100
10,000
100
-------
----
-------
----
11. Directors' advances, credits and guarantees
The Company made a loan of £50,935 to Dr Nichol during the prior year on which interest is being charged at 2.5%. The amount outstanding at the year end is £50,944 (2022: £50,944) after charging interest of £1250 and deducting repayments of £1250. The loan is due to be repaid by March 2027.