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REGISTERED NUMBER: SC616049 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

BNC Healthcare Limited

BNC Healthcare Limited (Registered number: SC616049)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BNC Healthcare Limited

COMPANY INFORMATION
For The Year Ended 31 December 2022







DIRECTORS: Mr G Ali
Mr A Ramzan





REGISTERED OFFICE: 364A Dumbarton Road
Glasgow
G11 6RZ





REGISTERED NUMBER: SC616049 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

BNC Healthcare Limited (Registered number: SC616049)

BALANCE SHEET
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 559,200 652,400
Tangible assets 5 148,090 162,920
Investments 6 2,972,566 -
3,679,856 815,320

CURRENT ASSETS
Stocks 45,000 45,000
Debtors 7 4,024,733 2,471,820
Cash at bank and in hand 144,637 383,873
4,214,370 2,900,693
CREDITORS
Amounts falling due within one year 8 (877,044 ) (1,089,162 )
NET CURRENT ASSETS 3,337,326 1,811,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,017,182

2,626,851

CREDITORS
Amounts falling due after more than one
year

9

(6,732,858

)

(2,414,124

)

PROVISIONS FOR LIABILITIES (5,905 ) (5,905 )
NET ASSETS 278,419 206,822

RESERVES
Retained earnings 278,419 206,822
SHAREHOLDERS' FUNDS 278,419 206,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BNC Healthcare Limited (Registered number: SC616049)

BALANCE SHEET - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:




Mr G Ali - Director



Mr A Ramzan - Director


BNC Healthcare Limited (Registered number: SC616049)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2022

1. STATUTORY INFORMATION

BNC Healthcare Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about BNC Healthcare Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER
Turnover represents amounts invoiced during the year net, exclusive of Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


BNC Healthcare Limited (Registered number: SC616049)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 932,000
AMORTISATION
At 1 January 2022 279,600
Charge for year 93,200
At 31 December 2022 372,800
NET BOOK VALUE
At 31 December 2022 559,200
At 31 December 2021 652,400

BNC Healthcare Limited (Registered number: SC616049)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2022

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 140,240 62,966 203,206
DEPRECIATION
At 1 January 2022 8,400 31,886 40,286
Charge for year 2,800 12,030 14,830
At 31 December 2022 11,200 43,916 55,116
NET BOOK VALUE
At 31 December 2022 129,040 19,050 148,090
At 31 December 2021 131,840 31,080 162,920

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 2,972,566
At 31 December 2022 2,972,566
NET BOOK VALUE
At 31 December 2022 2,972,566

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 80,958 100,569
Amounts owed by associates 3,823,345 2,265,000
Other debtors 120,430 106,251
4,024,733 2,471,820

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 144,000 61,716
Trade creditors 88,899 111,277
Amounts owed to associates 530,000 805,000
Taxation and social security 53,345 96,369
Other creditors 60,800 14,800
877,044 1,089,162

BNC Healthcare Limited (Registered number: SC616049)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 5,192,858 874,124
Other creditors 1,540,000 1,540,000
6,732,858 2,414,124

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than
five years 4,519,858 536,703
4,519,858 536,703

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 5,336,858 935,840

In return for funding of £5,403,937 Unity Trust Bank PLC holds a bond and floating charge over all assets of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 December 2022 and 31 December 2021:

2022 2021
£    £   
Mr A Ramzan
Balance outstanding at start of year 540,000 -
Amounts advanced - 540,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 540,000 540,000

Mr G Ali
Balance outstanding at start of year 1,000,000 -
Amounts advanced - 1,000,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,000,000 1,000,000

BNC Healthcare Limited (Registered number: SC616049)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2022

12. RELATED PARTY DISCLOSURES

The company paid the following amounts to companies controlled by the directors,
£97,133 to Vitalis Limited.
£28,000 to Ramzan Locums Limited.

The company received £103,555 in respect of management fees from the subsidiary Parkhead Health Centre Pharmacy Limited.