Registered number: 07517224 | ||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2023 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Vivo Medical Care Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 07517224 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Vivo Medical Care Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED28 FEBRUARY 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Vivo Medical Care Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
585,038 | 199,467 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT LIABILITIES | ( | (1,483,581) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 5 | 6,250,000 | 6,250,000 | |||||||
NET LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Share premium account | 9 | |||||||||
Profit and loss account | (483,704) | (910,740) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Vivo Medical Care Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
At the balance sheet date, the company had net current liabilities of £1,139,367 (2022: £1,483,581) and net liabilities of £450,204 (2022: £877,240). However, included in long term creditors was £3,250,000 (2022: £3,250,000) owed to the directors of which £3,000,000 was subordinated loans. Also included in creditors due within one year was £1,628,357 (2022: £1,628,357) owed to the directors. With the continued support of the directors, the directors believe the company to be a going concern. |
1c. Depreciation | ||||||||
Depreciation is not yet being charged, as the assets are not currently available for use. Depreciation will commence at the date that the assets are in the location and condition necessary for them to be capable of operating in the manner intended by management. | ||||||||
Land And Buildings | straight line2% | |||||||
Plant And Machinery | reducing balance25% | |||||||
Fixtures And Fittings | reducing balance25% |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Turnover | ||||||||
Turnover represents medical care services supplied by the company. |
1f. Statutory Information | ||||||||
Vivo Medical Care Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 07517224 and registered office address is 10 Bourne End Road, Northwood, England, HA6 3BS. |
1g. Financial Instruments | ||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. |
Vivo Medical Care Limited | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||||
Land And | Plant and | Fixtures | ||||||
Buildings | Machinery | and Fittings | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 March 2022 | 7,166,541 | 199,207 | 5,154 | 7,370,902 | ||||
Additions | 200,000 | - | - | 200,000 | ||||
At 28 February 2023 | 7,366,541 | 199,207 | 5,154 | 7,570,902 | ||||
Depreciation | ||||||||
At 1 March 2022 | 384,773 | 127,732 | 2,056 | 514,561 | ||||
For the year | 98,535 | 17,869 | 774 | 117,178 | ||||
At 28 February 2023 | 483,308 | 145,601 | 2,830 | 631,739 | ||||
Net Book Amounts | ||||||||
At 28 February 2023 | 6,939,163 | |||||||
At 28 February 2022 | 6,856,341 | |||||||
3. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 73,069 | - | ||||||
Other debtors | 19,640 | 19,640 | ||||||
92,709 | 19,640 | |||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Taxation and social security | 19,407 | 23,160 | ||||||
Salaries and wages control | 541 | - | ||||||
Directors current account | 1,628,357 | 1,628,357 | ||||||
Trade creditors | 70,119 | 26,191 | ||||||
Pension schemes | 4,061 | 3,420 | ||||||
Accruals | 1,920 | 1,920 | ||||||
1,724,405 | 1,683,048 | |||||||
Vivo Medical Care Limited | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans secured | 3,000,000 | 3,000,000 | ||||||
Directors Loans | 3,250,000 | 3,250,000 | ||||||
6,250,000 | 6,250,000 | |||||||
Of the directors loans of £4,878,357, £3,000,000 are subordinated. | ||||||||
6. SECURED CREDITORS | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 3,000,000 | 3,000,000 | ||||||
The bank loans are secured over the freehold property and are charged interest at 6.0%. | ||||||||
7. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 44 | |||||
8. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
200 | 200 | |||||||
200 | 200 | |||||||
9. SHARE PREMIUM ACCOUNT | 2023 | 2022 | ||||
£ | £ | |||||
Share premium account | 33,300 | 33,300 |