Registered number
08929724
Walcote Health Ltd
Filleted Accounts
31 March 2023
Walcote Health Ltd
Registered number: 08929724
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 43,284 41,535
Current assets
Stocks 17,500 11,000
Debtors 4 42,667 35,002
Investments held as current assets 5 931,944 612,000
Cash at bank and in hand 561,577 556,998
1,553,688 1,215,000
Creditors: amounts falling due within one year 6 (158,516) (181,753)
Net current assets 1,395,172 1,033,247
Net assets 1,438,456 1,074,782
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,438,356 1,074,682
Shareholders' funds 1,438,456 1,074,782
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr N Hillier
Director
Approved by the board on 10 October 2023
Walcote Health Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance basis
Fixtures, fittings, tools and equipment 20% reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Artwork Total
£ £ £ £
Cost
At 1 April 2022 8,436 44,028 13,900 66,364
Additions - 6,986 - 6,986
At 31 March 2023 8,436 51,014 13,900 73,350
Depreciation
At 1 April 2022 - 24,829 - 24,829
Charge for the year - 5,237 - 5,237
At 31 March 2023 - 30,066 - 30,066
Net book value
At 31 March 2023 8,436 20,948 13,900 43,284
At 31 March 2022 8,436 19,199 13,900 41,535
4 Debtors 2023 2022
£ £
Trade debtors 23,518 16,000
Other debtors 19,149 19,002
42,667 35,002
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 931,944 612,000
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 39,418 61,070
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 133,415 156,495
Other creditors 25,101 25,258
158,516 181,753
7 Other information
Walcote Health Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Southgate Chambers
37-39 Southgate Street
Winchester
Hampshire
SO23 9EH
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