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REGISTERED NUMBER: 09148564 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

OAK HEALTH UK LTD

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OAK HEALTH UK LTD

Company Information
for the year ended 31 March 2023







Directors: Ms S Sandhu
Mrs H K Sohal





Secretary: Ms S Sandhu





Registered office: 165 Minster Road
Minster on Sea
Sheerness
Essex
ME12 3LH





Registered number: 09148564 (England and Wales)





Accountants: Haines Watts South East LLP
Chartered Accountants
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 67,000 100,500
Tangible assets 5 886,515 884,308
953,515 984,808

Current assets
Debtors 6 142,725 120,137
Cash at bank and in hand 373,186 227,111
515,911 347,248
Creditors
Amounts falling due within one year 7 193,077 132,548
Net current assets 322,834 214,700
Total assets less current liabilities 1,276,349 1,199,508

Creditors
Amounts falling due after more than one
year

8

(695,638

)

(771,491

)

Provisions for liabilities 11 (6,609 ) (5,864 )
Net assets 574,102 422,153

Capital and reserves
Called up share capital 12 2 2
Retained earnings 574,100 422,151
Shareholders' funds 574,102 422,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Statement of Financial Position - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





Ms S Sandhu - Director


OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Oak Health UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, 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.
Freehold property - nil on land & buildings
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 36 (2022 - 37 ) .

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2022
and 31 March 2023 335,000
Amortisation
At 1 April 2022 234,500
Amortisation for year 33,500
At 31 March 2023 268,000
Net book value
At 31 March 2023 67,000
At 31 March 2022 100,500

5. Tangible fixed assets
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2022 843,927 76,601 1,527 922,055
Additions - 15,628 1,416 17,044
At 31 March 2023 843,927 92,229 2,943 939,099
Depreciation
At 1 April 2022 - 36,983 764 37,747
Charge for year - 14,338 499 14,837
At 31 March 2023 - 51,321 1,263 52,584
Net book value
At 31 March 2023 843,927 40,908 1,680 886,515
At 31 March 2022 843,927 39,618 763 884,308

The directors carried out their annual review of the company's assets. They considered whether there were any adverse market or legal changes which could materially reduce the likely recoverable value of the property, or whether there was any evidence of physical deterioration or damage advised by any appraisers or professional consultants.

Having considered the facts, the directors are of the opinion that the potential residual value of the property will not be less than the values as shown in the company's accounts and as such depreciation should not be charged against the company's freehold property.

6. Debtors
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 74,672 100,112
Other debtors 3,219 8,270
77,891 108,382

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


6. Debtors - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 64,834 11,755

Aggregate amounts 142,725 120,137

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 35,566 28,000
Trade creditors 9,355 8,542
Taxation and social security 105,575 63,554
Other creditors 42,581 32,452
193,077 132,548

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 402,097 452,030
Other creditors 293,541 319,461
695,638 771,491

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years 259,831 340,030

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,088 1,218
Between one and five years 6,264 8,352
In more than five years - 870
8,352 10,440

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 437,663 480,030

The company has provided security to its bankers, Barclays Bank PLC, by way of a negative pledge. This security is provided in respect of any monies due to the bank.

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


11. Provisions for liabilities
2023 2022
£    £   
Deferred tax 6,609 5,864

Deferred
tax
£   
Balance at 1 April 2022 5,864
Provided during year 745
Balance at 31 March 2023 6,609

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

13. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Ms S Sandhu
Balance outstanding at start of year 9,606 (10,128 )
Amounts advanced 53,694 37,841
Amounts repaid (24,370 ) (18,107 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,930 9,606

Mrs H K Sohal
Balance outstanding at start of year 4,000 -
Amounts advanced 24,000 4,000
Amounts repaid (28,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,000

14. Related party disclosures

Comfort Care Services (Colchester) Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due to related party at the balance sheet date 112,889 133,889

The above balance is interest free and is repayable in 53 weeks.

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


14. Related party disclosures - continued

JK Healthcare Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due to related party at the balance sheet date - 1,500

The above balance is interest free and is repayable in 53 weeks.

Hardwick Dene Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due to related party at the balance sheet date 159,953 159,953

The above balance is interest free and is repayable in 53 weeks.

Sohal Healthcare Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due to related party at the balance sheet date 17,261 17,261

The above balance is interest free and is repayable in 53 weeks.

Milton Lodge Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due to related party at the balance sheet date 1,038 1,038

The above balance is interest free and is repayable in 53 weeks.

Hazeldell Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due from/(to) related party at the balance sheet date 23,755 (3,420 )

The above balance is interest free and is repayable in 53 weeks.

OAK HEALTH UK LTD (REGISTERED NUMBER: 09148564)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


14. Related party disclosures - continued

Brook House Health Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due from related party at the balance sheet date 2,149 2,149

The above balance is interest free and is repayable in 53 weeks.

The Willows Ipswich Limited

A company under control by the relations of S Sohal


2023 2022
£    £   
Amount due to related party at the balance sheet date 2,400 2,400

The above balance is interest free and is repayable in 53 weeks.