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REGISTERED NUMBER: 07553557 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Hornby Healthcare Limited

Hornby Healthcare Limited (Registered number: 07553557)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hornby Healthcare Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S K Ahitan





SECRETARY: Mrs M Ahitan





REGISTERED OFFICE: The Paddock
Hornby
Northallerton
North Yorkshire
DL6 2JH





REGISTERED NUMBER: 07553557 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Hornby Healthcare Limited (Registered number: 07553557)

Balance Sheet
31 March 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 1,180,155 1,341,047
1,180,156 1,341,048

CURRENT ASSETS
Stocks 4,500 4,500
Debtors 6 730,940 222,446
Cash at bank and in hand 539,927 646,190
1,275,367 873,136
CREDITORS
Amounts falling due within one year 7 676,639 293,236
NET CURRENT ASSETS 598,728 579,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,778,884

1,920,948

CREDITORS
Amounts falling due after more than one
year

8

(940,431

)

(1,171,425

)

PROVISIONS FOR LIABILITIES (22,600 ) (7,300 )
NET ASSETS 815,853 742,223

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 815,851 742,221
SHAREHOLDERS' FUNDS 815,853 742,223

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 director acknowledges his 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.

Hornby Healthcare Limited (Registered number: 07553557)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





S K Ahitan - Director


Hornby Healthcare Limited (Registered number: 07553557)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Hornby Healthcare Limited 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 2014, is being amortised evenly over its estimated useful life of four 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 - 2% on cost
Improvements to property - 10% on cost
Motor Vehicles - 25% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on 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
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Hornby Healthcare Limited (Registered number: 07553557)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 90 (2022 - 88 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 560,000
AMORTISATION
At 1 April 2022
and 31 March 2023 559,999
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Motor
property property Vehicles
£    £    £   
COST
At 1 April 2022 1,396,402 273,609 55,435
Additions - - 61,490
Disposals - - (55,435 )
Impairments (119,519 ) - -
At 31 March 2023 1,276,883 273,609 61,490
DEPRECIATION
At 1 April 2022 174,192 251,885 13,859
Charge for year 22,000 14,142 16,801
Eliminated on disposal - - (24,300 )
At 31 March 2023 196,192 266,027 6,360
NET BOOK VALUE
At 31 March 2023 1,080,691 7,582 55,130
At 31 March 2022 1,222,210 21,724 41,576

Hornby Healthcare Limited (Registered number: 07553557)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 487,702 11,515 2,224,663
Additions - - 61,490
Disposals - - (55,435 )
Impairments - - (119,519 )
At 31 March 2023 487,702 11,515 2,111,199
DEPRECIATION
At 1 April 2022 432,169 11,511 883,616
Charge for year 18,785 - 71,728
Eliminated on disposal - - (24,300 )
At 31 March 2023 450,954 11,511 931,044
NET BOOK VALUE
At 31 March 2023 36,748 4 1,180,155
At 31 March 2022 55,533 4 1,341,047

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 218,454 166,176
Other debtors 512,486 56,270
730,940 222,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 195,701 78,555
Trade creditors 35,575 57,716
Taxation and social security 330,227 35,007
Other creditors 115,136 121,958
676,639 293,236

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans 940,431 1,171,425

Hornby Healthcare Limited (Registered number: 07553557)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
as restated
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 669,960 867,261

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank loans 1,136,132 1,249,980

There is a first legal charge from Hornby Healthcare Limited over the company's freehold property together with personal guarantees from the shareholders for £1,145,000.

There is an unlimited debenture from Hornby Healthcare Limited.

10. CALLED UP SHARE CAPITAL

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

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £2,350 (2022- £3,965).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
as restated
£    £   
S K Ahitan
Balance outstanding at start of year 1,004 (75,968 )
Amounts advanced 324,393 125,772
Amounts repaid (584 ) (48,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 324,813 1,004

Interest has been charged on the above loan at HMRC official rate.