REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 SEPTEMBER 2022 |
FOR |
HEALTH AND SOCIAL CARE SERVICES LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 SEPTEMBER 2022 |
FOR |
HEALTH AND SOCIAL CARE SERVICES LTD |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HEALTH AND SOCIAL CARE SERVICES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
BALANCE SHEET |
30 SEPTEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
1. | STATUTORY INFORMATION |
Health and Social Care Services Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
Tangible Fixed Assets: |
Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In reassessing assets lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into consideration. |
Turnover |
Turnover is recoginsed in respect of the delivery of critical care services. Revenue is recognised once the right to consideration has been earned which is the fulfilment of care provision for an agreed time period. Revenue invoiced in advanced is recognised as a liability and released to the profit and loss account once the care package hs been fulfilled. Where the right to consideration has be earned but not invoiced revenue is accrued to the financial statements for the value of the care provided. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under a finance lease, over the term of the lease, which ever is the shorter. |
Leasehold improvements: | 5% on Cost |
Plant and machinery: | 10% on Cost. |
Computer equipment | 33% on Cost |
Motor Vehicles | 20% on Cost |
Financial instruments |
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | and |
improvements | machinery | fittings |
£ | £ | £ |
COST |
At 1 October 2021 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer | ( |
) |
At 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
Reclassification/transfer |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2021 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer | ( |
) |
At 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
Reclassification/transfer | ( |
) | ( |
) |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 October 2021 |
Disposals | ( |
) |
At 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts (see note 9) |
Amounts owed to group undertakings |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2022 | 2021 |
£ | £ |
Within one year |
Between one and five years |
Operating lease commitments relates to the rental of commercial property from which the company trades. |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Hire purchase contracts | - | 101,711 |
Bank loans and overdrafts are secured by fixed and floating charge by way of a debenture overall all assets of the company. |
Assets held under hire purchase agreements are secured against the assets to which they relate. |
11. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 45,364 | 26,873 |
Deferred |
tax |
£ |
Balance at 1 October 2021 |
Provided during year |
Rate movement | 14,683 |
Balance at 30 September 2022 |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
11. | PROVISIONS FOR LIABILITIES - continued |
Deferred tax is recognised in respect of the excess of capital allowances over depreciation. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | 10p | 100 | 100 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 30 September 2022 and the period ended 30 September 2021: |
2022 | 2021 |
£ | £ |
L Walliman |
Balance outstanding at start of year | - | 22,212 |
Amounts repaid | - | - |
Amounts written off | - | - |
Amounts waived | - | (22,212 | ) |
Balance outstanding at end of year | - | - |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
15. | RELATED PARTY DISCLOSURES |
During the year under review the company incurred total management fees of £82,272 (2021: £75,841) |
from a fellow group company. |
The company received rent amounting to £4,785 from a member of the same group. The company also sold lease hold improvements for their net book value of £181,930. |
The balance due on a intercompany account at the balance sheet date is £430,000 (2021: £719,069).This balance bears no interest and is disclosed within amounts due to group undertakings within creditors due in less than one year. |
Included within other debtors is a balance of £57,500 (2021:£57,500) due from a company controlled by a director of Health and Social Care Services Ltd. |
The company was also invoiced £110,673 (2021: nil) in relation to overseas staff recruitment expenses and £23,088 (2021: nil) in respect of Nursing Services by a directors personal service company. The amount owing at the balance sheet date is £7,416 and is disclosed within trade creditors and £23,088 included within accruals. |
During the year under review the company was charged rent of £34,800 (2021: £33,833) in relation to the use of a commercial premises owned by a self invested personal pension scheme of which a director of the company is a beneficiary. |
Key Management Personal Compensation: |
The amount of remuneration paid to key management personal during the year amounted to £226,968 (2021: £245,993). |
16. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is the company's parent company Abbott Healthcare Ltd The consolidated financial statements of the group can be obtained directly from the registrar of companies or the group's head office address; 16 Eaton Court, Colmworth Business Park, Eaton Socon, St Neots, Cambridgeshire, PE19 8ER. |