for the Period Ended 31 March 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2023
Principal activities of the company
Political and charitable donations
Additional information
This is the seventh period of account of the company since its creation in September 2016 and its start of trading from 1 April 2017. The Company is focused on delivering the outpatient services franchise that it acquired from the outsourced operator, Lloyds Pharmacy, on 1 April 2017.The TGH accounts have been prepared on a 'going concern' basis. The company is a wholly owned subsidiary of the University Hospitals of Leicester NHS Trust and has considered the going concern position of its parent and the group in assessing its own going concern position. This is necessary as the company relies on UHL for virtually all of its income. The company's Board of Directors has carefully considered the principle of "going concern" and in making its assessment has reviewed the UHL's assessment of its own, and the Group's, going concern. The company's principal activity is the provision of drug dispensing services to UHL and has limited exposure to commercial market risks. The Directors of the Company consider that it provides a vital service to UHL and enables savings to be achieved for UHL and group. As such, the Company's Directors consider that the company will be providing its service to UHL for the foreseeable future.UHL Trust agreed contracts with local commissioners for 2023/24 and services are being commissioned in a similar manner in the future as in prior years and there are no discontinued operations. Also, there were no transfers of services or significant amendment to the structure of the organisation in the year and there is no decision pending for such at this time. The Board of Directors have a reasonable expectation that the Trust and Group will have access to adequate resources in the form of support from the Department of Health and Social Care (NHS Act 2006 s42a) to continue to deliver the full range of mandatory services for the foreseeable future.The directors do not recommend payment of a dividend for the period 2022/23. (2021/22 £nil). Payment policy for external trade creditors is that of the parent NHS Trust, which is 30 days from date of invoice in line with managing public money. At the year end, external trade creditors were £2,422k as per note 8.The directors who held office at the date of approval of this directors' report confirm that, so far as they are each aware, there is no relevant audit information of which the company's auditor is unaware; and each director has taken all the steps that he / she ought to have taken as a director to make himself/herself aware of any relevant audit information and to establish, that the company's auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.Pursuant to Section 485 of the Companies Act 2006, the Board appointed KPMG LLP as the company's external auditor.
Directors
The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023
The director shown below has held office during the period of
1 April 2022 to 31 December 2022
The director shown below has held office during the period of
1 January 2023 to 31 March 2023
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
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| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Operating profit(or loss): | | |
Interest payable and similar charges: | ( | ( |
Profit(or loss) before tax: | | |
Tax: | ( | ( |
Profit(or loss) for the financial year: | | |
As at
Notes | 2023 | 2022 | |
---|---|---|---|
| £ | £ | |
Called up share capital not paid: | | | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 4 | | |
Debtors: | 5 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 6 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 7 | ( | ( |
Provision for liabilities: | ( | ( | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2023
Basis of measurement and preparation
Tangible fixed assets depreciation policy
Valuation information and policy
Other accounting policies
for the Period Ended 31 March 2023
2023 | 2022 | |
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Average number of employees during the period | | |
for the Period Ended 31 March 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 April 2022 | | | ||||
Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 March 2023 | | | ||||
Depreciation | ||||||
At 1 April 2022 | | | ||||
Charge for year | | | ||||
On disposals | ||||||
Other adjustments | ||||||
At 31 March 2023 | | | ||||
Net book value | ||||||
At 31 March 2023 | | | ||||
At 31 March 2022 | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Stocks | | |
Total | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Prepayments and accrued income | | |
Other debtors | | |
Total | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Trade creditors | | |
Taxation and social security | | |
Other creditors | | |
Total | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Amounts due under finance leases and hire purchase contracts | | |
Total | | |