Company registration number 09136404 (England and Wales)
KEYSTONE HEALTHCARE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
KEYSTONE HEALTHCARE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
KEYSTONE HEALTHCARE HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
2
3,177,905
3,177,905
Current assets
Cash at bank and in hand
375
471
Creditors: amounts falling due within one year
4
(987,104)
(987,200)
Net current liabilities
(986,729)
(986,729)
Total assets less current liabilities
2,191,176
2,191,176
Capital and reserves
Called up share capital
100
100
Share premium account
1,967,511
1,967,511
Profit and loss reserves
223,565
223,565
Total equity
2,191,176
2,191,176

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 November 2023 and are signed on its behalf by:
R Ward
Director
Company Registration No. 09136404
KEYSTONE HEALTHCARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Keystone Healthcare Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cooper Bridge Warehouse, Leeds Road, Huddersfield, West Yorkshire, HD5 0RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

KEYSTONE HEALTHCARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

KEYSTONE HEALTHCARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Fixed asset investments
2023
2022
£
£
Investments
3,177,905
3,177,905

The investments in subsidiaries are all stated at cost.

Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2022 & 31 March 2023
3,177,905
Carrying amount
At 31 March 2023
3,177,905
At 31 March 2022
3,177,905
3
Subsidiaries

Details of the company's subsidiaries at 31 March 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Keystone Healthcare Limited
Cooper Bridge Warehouse, Leeds Road, Huddersfield, HD5 0RL
Ordinary
100
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
978,270
970,561
Other creditors
8,834
16,639
987,104
987,200
5
Financial commitments, guarantees and contingent liabilities

There is a Composite Company Unlimited Multilateral Guarantee dated 1 September 2014 given by Keystone Healthcare Limited and Keystone Healthcare Holdings Limited.

 

KEYSTONE HEALTHCARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
6
Directors' transactions

Dividends totalling £134,000 (2022 - £94,000) were paid in the year in respect of shares held by the company's directors.

The directors advanced an interest free loan to the company. The balance due to the directors at the year end was £8,834 (2022 - £16,639).

2023-03-312022-04-01false21 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityR WardH Wardfalse2023-11-210091364042022-04-012023-03-31091364042023-03-31091364042022-03-3109136404core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109136404core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3109136404core:CurrentFinancialInstruments2023-03-3109136404core:CurrentFinancialInstruments2022-03-3109136404core:ShareCapital2023-03-3109136404core:ShareCapital2022-03-3109136404core:SharePremium2023-03-3109136404core:SharePremium2022-03-3109136404core:RetainedEarningsAccumulatedLosses2023-03-3109136404core:RetainedEarningsAccumulatedLosses2022-03-3109136404bus:Director12022-04-012023-03-3109136404bus:PrivateLimitedCompanyLtd2022-04-012023-03-3109136404bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3109136404bus:FRS1022022-04-012023-03-3109136404bus:AuditExemptWithAccountantsReport2022-04-012023-03-3109136404bus:Director22022-04-012023-03-3109136404bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP