Caseware UK (AP4) 2022.0.179 2022.0.179 The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.We have audited the financial statements of Clanwilliam Health (DGL) Limited which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the year ended 31 December 2022, and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in the preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. In our opinion, Clanwilliam Health (DGL) Limited's financial statements: give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2022 and of its financial performance for the year then ended; and have been prepared in accordance with the requirements of the Companies Act 2006.In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of directors' remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report.Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS101 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Company's financial reporting process. The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection and Employment laws, Health and Safety Regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulation that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.  In response to these principal risks, our audit procedures included but were not limited to: inquiries of management and board on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud; inspection of the Company’s regulatory and legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made; gaining an understanding of the internal controls established to mitigate risk related to fraud; discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit; identifying and testing journal entries to address the risk of inappropriate journals and management override of controls; designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; challenging assumptions and judgements made by management in their significant accounting estimates, including useful lives of depreciable assets and provision for expected credit losses of trade receivables; and review of the financial statements disclosures to underlying supporting documentation and inquiries of management. The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controlThe preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The Company has taken advantage of the following disclosure exemptions under FRS 101: the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share based payment the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held For Sale and Discontinued Operations the requirements of IFRS 7 Financial Instruments: Disclosures the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of: paragraph 79(a)(iv) of IAS 1; paragraph 73(e) of IAS 16 Property, Plant and Equipment; paragraph 118(e) of IAS 38 Intangible Assets; paragraphs 76 and 79(d) of IAS 40 Investment Property; and paragraph 50 of IAS 41 Agriculture the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements the requirements of IAS 7 Statement of Cash Flows the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets. The smallest consolidated financial statements presented are that of Clanwilliam Headquarters Limited at 31 December 2022, in which equivalent consolidated disclosures can be found. These financial statements are available from the Companies Registration Office, Bloom House, Gloucester Place Lower, Dublin 2.New standards adopted as at 1 January 2022 Some accounting pronouncements which have become effective from 1 January 2022 and have therefore been adopted do not have a significant impact on the Company’s financial results or position. Reference to the Conceptual Framework (Amendments to IFRS 3) COVID-19 – Related Rent Concessions beyond 30 June 2021 (Amendments to IFRS 16) Property, Plant and Equipment: Proceeds Before Intended Use (Amendments to IAS 16) Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) Annual Improvements (2018-2020 Cycle): Subsidiary as a First-time Adopter (Amendments to IFRS 1) Fees in the ‘10 per cent’ Test for Derecognition of Liabilities (Amendments to IFRS 9) Lease Incentives (Amendments to IFRS 16) Taxation in Fair Value Measurements (Amendments to IAS 41).Revenue arises mainly from the design and manufacture of computer software for healthcare professionals, mainly pharmacists, private medical consultants and general practitioners, together with the hosting, supply and support of computer systems for the healthcare profession. To determine whether to recognise revenue, the Company follows a 5-step process: Identifying the contract with a customer Identifying the performance obligations Determining the transaction price Allocating the transaction price to the performance obligations Recognising revenue when/as performance obligation(s) are satisfied. Revenue is recognised either at a point in time or over time, when (or as) the Company satisfies performance obligations by transferring the promised goods or services to its customers. The Company recognises contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as other liabilities in the statement of financial position. Similarly, if the Company satisfies a performance obligation before it receives the consideration, the Company recognises either a contract asset or a receivable in its statement of financial position, depending on whether something other than the passage of time is required before the consideration is due. Contracts with multiple performance obligations Many of the Company's contracts comprise a variety of performance obligations including, but not limited to, hardware, software, elements of design and customisation, after-sales services, and installation. Under IFRS 15, the Company must evaluate the separability of the promised goods or services based on whether they are ‘distinct’. A promised good or service is ‘distinct’ if both: the customer benefits form the item either on its own or together with other readily available resources, and it is ‘separately identifiable’ (i.e. the Company does not provide a significant service integrating, modifying or customising it).Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Over the life of the lease Over 5-8 years Over 3 years Over 5 years The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below: Financial assets and financial liabilities are initially measured at fair value. All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets. Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability. The Company recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised or at fair value through other comprehensive income. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument. The Company always recognises lifetime expected credit losses for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime of expected credit losses represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: Fixed payments (including in-substance fixed payments), less any lease incentives receivable: Variable lease payments that are based on an index or a rate, initially measured using the index or rate as at the commencement date; Amounts expected to be payable by the Company under residual value guarantees; The exercise price of a purchase option if the Company is reasonably certain to exercise that option; and Payments of penalties for terminating the lease, if the lease term reflects the Company exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Company, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are measured at cost comprising the following: The amount of the initial measurement of lease liability; Any lease payments made at or before the commencement date less any lease incentives received; Any initial direct costs; and Restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.811282277634271Amounts owed to group undertakings are unsecured, repayable on demand and interest free. Glas Trust Corporation Limited hold a fixed and floating charge over the assets of the Company. Lease liabilities are secured by way of the underlying asset. 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Financial Statements
Clanwilliam Health (DGL) Limited
For the year ended 31 December 2022





































Registered number: 03020555

 
Clanwilliam Health (DGL) Limited
 

Company Information


Directors
Howard John Beggs 
Gerard Hunt 
Eileen Byrne 




Company secretary
Erin Lane



Registered number
03020555



Registered office
Aurora House
Deltic Avenue

Rooksley

Milton Keynes

MK13 8LW

England




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

13 - 18 City Quay

Dublin 2




Bankers
Citibank N.A. London
Canada SQ Service CTR

Citigroup CTR 25

London

United Kingdom

E14 5LB





 
Clanwilliam Health (DGL) Limited
 

Contents



Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Notes to the financial statements
11 - 25


 
Clanwilliam Health (DGL) Limited
 
 
Directors' report
For the year ended 31 December 2022

The directors present their report and the financial statements for the year ended 31 December 2022.

Principal activity

The principal activities of the Company is a computer system for private medical consultants that provides a complete practice management software solution.  

Results and dividends

The loss for the year, after taxation, amounted to £119,971 (2021: profit £1,172,776).

The directors have paid a dividend of £1,205,000 (2021: £2,500,000).

Directors

The directors who served during the year were:

Howard John Beggs 
Gerard Hunt 
Eileen Byrne 

Future developments

The Company plans to continue its present activities.

Research and development activities

The Company capitalised research and development costs of £70,058 (2021: £Nil) during the financial year.

Statement on relevant audit information

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

The auditor, Grant Thorntonwill continue in office in accordance with section 485 of the Companies Act 2006.
Page 1

 
Clanwilliam Health (DGL) Limited
 

Directors' report (continued)
For the year ended 31 December 2022


Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
Howard John Beggs
Director

Date: 28 July 2023

Page 2

 
Clanwilliam Health (DGL) Limited
 

Directors' responsibilities statement
For the year ended 31 December 2022

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board




................................................

Howard John Beggs

Director


Date: 28 July 2023
Page 3

 
 
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Independent auditor's report to the members of Clanwilliam Health (DGL) Limited
 
Opinion


We have audited the financial statements of Clanwilliam Health (DGL) Limited which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the year ended 31 December 2022, and the related notes to the financial statements, including a summary of significant accounting policies.  

The financial reporting framework that has been applied in the preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’.


In our opinion, Clanwilliam Health (DGL) Limited's financial statements:


give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2022 and of its financial performance for the year then ended; and


have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.



Page 4

 
 
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Independent auditor's report to the members of Clanwilliam Health (DGL) Limited (continued)

Other information


Other information comprises the information included in the annual report, other than the financial statements and our Auditor's report thereon, including the Directors' report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statementsour responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
the information given in the Directors' report for the year for which the financial statements are prepared is consistent with the financial statements, and 
the Directors' report has been prepared in accordance with applicable legal requirements. 

Matters on which we are required to report by exception


In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report.
Page 5

 
 
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Independent auditor's report to the members of Clanwilliam Health (DGL) Limited (continued)

Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS101 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection and Employment laws, Health and Safety Regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulation that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements. 
Page 6

 
 
img47c2.png
Independent auditor's report to the members of Clanwilliam Health (DGL) Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

In response to these principal risks, our audit procedures included but were not limited to:

inquiries of management and board on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
inspection of the Company’s regulatory and legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made;
gaining an understanding of the internal controls established to mitigate risk related to fraud;
discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
challenging assumptions and judgements made by management in their significant accounting estimates, including useful lives of depreciable assets and provision for expected credit losses of trade receivables; and
review of the financial statements disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal control

The purpose of our audit work and to whom we owe our responsibilities
 

This report is made solely to the Company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.



 
 
Tracey Sullivan (Senior statutory auditor)
for and on behalf of
Grant Thornton
Chartered Accountants &
Statutory Auditors
13 - 18 City Quay
Dublin 2
 
Date: 
 28 July 2023
Page 7

 
Clanwilliam Health (DGL) Limited
 

Statement of comprehensive income
For the year ended 31 December 2022

2022
2021
Note
 £
£

  

Turnover
 4 
4,454,620
4,416,904

Cost of sales
  
(1,695,341)
(1,499,483)

Gross profit
  
2,759,279
2,917,421

Administrative expenses
  
(2,748,443)
(1,736,251)

Operating profit
 5 
10,836
1,181,170

Interest payable and expenses
 7 
(6,337)
(8,394)

Profit before tax
  
4,499
1,172,776

Tax on profit
 8 
(124,470)
-

(Loss)/profit for the year
  
(119,971)
1,172,776

All amounts relate to continuing operations.
There was no other comprehensive income for 2022 (2021: £NIL).

The notes on pages 11 to 25 form part of these financial statements.

Page 8

 
Clanwilliam Health (DGL) Limited
Registered number:03020555

Statement of financial position
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible fixed assets
 9 
70,058
-

Tangible fixed assets
 10 
80,091
98,307

Current assets
  

Debtors: amounts falling due within one year
 11 
7,167,048
8,188,208

Cash at bank
 12 
212,971
524,998

  
7,380,019
8,713,206

Current liabilities
  

Creditors: amounts falling due within one year
 13 
(1,049,377)
(973,185)

Net current assets
  
 
 
6,330,642
 
 
7,740,021

Total assets less current liabilities
  
6,480,791
7,838,328

Creditors: amounts falling due after more than one year
 14 
(38,285)
(70,851)

Deferred taxation
 15 
(30,446)
(30,446)

Net assets
  
6,412,060
7,737,031


Capital and reserves
  

Called up share capital 
 16 
2
2

Other reserves
 17 
141,434
141,434

Profit and loss account
 17 
6,270,624
7,595,595

Shareholders' funds
  
6,412,060
7,737,031


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

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Howard John Beggs
Director
Date: 28 July 2023

The notes on pages 11 to 25 form part of these financial statements.

Page 9

 
Clanwilliam Health (DGL) Limited
 

Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
2
141,434
7,595,595
7,737,031



Loss for the year
-
-
(119,971)
(119,971)

Dividends: Equity capital
-
-
(1,205,000)
(1,205,000)


At 31 December 2022
2
141,434
6,270,624
6,412,060



Statement of changes in equity
For the year ended 31 December 2021


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 January 2021
2
141,434
8,922,819
9,064,255



Profit for the year
-
-
1,172,776
1,172,776

Dividends: Equity capital
-
-
(2,500,000)
(2,500,000)


At 31 December 2021
2
141,434
7,595,595
7,737,031


The notes on pages 11 to 25 form part of these financial statements.

Page 10

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Clanwilliam Health (DGL) Limited is a private Company limited by shares which is registered and incorporated in the United Kingdom. The Company's registered office is Aurora House, Deltic Avenue, Rooksley, Milton Keynes, MK13 8LW, United Kingdom. The principal activities of the Company include the design of computer software for health professionals, mainly general practitioners and private medical consultants, together with the hosting, supply and support of computer systems for the healthcare profession.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Financial reporting standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share based payment
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held For Sale and
Discontinued Operations
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
paragraph 79(a)(iv) of IAS 1;
paragraph 73(e) of IAS 16 Property, Plant and Equipment;
paragraph 118(e) of IAS 38 Intangible Assets;
paragraphs 76 and 79(d) of IAS 40 Investment Property; and
paragraph 50 of IAS 41 Agriculture
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
Page 11

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

  
2.2

Financial reporting standard 101 - reduced disclosure exemptions (continued)

the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

The smallest consolidated financial statements presented are that of Clanwilliam Headquarters Limited at 31 December 2022, in which equivalent consolidated disclosures can be found. These financial statements are available from the Companies Registration Office, Bloom House, Gloucester Place Lower, Dublin 2.

  
2.3

Impact of new international reporting standards, amendments and interpretations

New standards adopted as at 1 January 2022
Some accounting pronouncements which have become effective from 1 January 2022 and have therefore been adopted do not have a significant impact on the Company’s financial results or position.
 
Reference to the Conceptual Framework (Amendments to IFRS 3)
COVID-19 – Related Rent Concessions beyond 30 June 2021 (Amendments to IFRS 16)
Property, Plant and Equipment: Proceeds Before Intended Use (Amendments to IAS 16)
Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37)
Annual Improvements (2018-2020 Cycle):
Subsidiary as a First-time Adopter (Amendments to IFRS 1)
Fees in the ‘10 per cent’ Test for Derecognition of Liabilities (Amendments to IFRS 9)
Lease Incentives (Amendments to IFRS 16)
Taxation in Fair Value Measurements (Amendments to IAS 41).

  
2.4

Revenue

Revenue arises mainly from the design and manufacture of computer software for healthcare professionals, mainly pharmacists, private medical consultants and general practitioners, together with the hosting, supply and support of computer systems for the healthcare profession.
To determine whether to recognise revenue, the Company follows a 5-step process:
1.Identifying the contract with a customer
2.Identifying the performance obligations
3.Determining the transaction price
4.Allocating the transaction price to the performance obligations
5.Recognising revenue when/as performance obligation(s) are satisfied.

Page 12

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

  
2.4

Revenue (continued)

Revenue is recognised either at a point in time or over time, when (or as) the Company satisfies performance obligations by transferring the promised goods or services to its customers. The Company recognises contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as other liabilities in the statement of financial position. Similarly, if the Company satisfies a performance obligation before it receives the consideration, the Company recognises either a contract asset or a receivable in its statement of financial position, depending on whether something other than the passage of time is required before the consideration is due.

Contracts with multiple performance obligations
Many of the Company's contracts comprise a variety of performance obligations including, but not limited to, hardware, software, elements of design and customisation, after-sales services, and installation. Under IFRS 15, the Company must evaluate the separability of the promised goods or services based on whether they are ‘distinct’. A promised good or service is ‘distinct’ if both:
the customer benefits form the item either on its own or together with other readily available resources, and
it is ‘separately identifiable’ (i.e. the Company does not provide a significant service integrating, modifying or customising it).

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Leasehold improvements
-
Over the life of the lease
Fixtures and fittings
-
Over 5-8 years
Office equipment
-
Over 3 years
Right-of-use assets
-
Over 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
Page 13

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Impairment testing of tangible fixed assets

For impairment assessment purposes, assets are grouped at the lowest levels for which there are largely independent cash inflows (cash-generating units). As a result, some assets are tested individually for impairment and some are tested at cash-generating unit level. 
Tangible fixed assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset's or cash-generating unit's carrying amount exceeds its recoverable amount, which is the higher of fair value less costs of disposal and value-in-use. To determine the value-in-use, management estimates expected future cash flows from each cash-generating unit and determines a suitable interest rate in order to calculate the present value of those cash flows. The data used for impairment testing procedures are directly linked to the Company's latest approved budget, adjusted as necessary to exclude the effects of future reorganisations and asset enhancements. Discount factors are determined individually for each cash-generating unit and reflect management’s assessment of respective risk profiles, such as market and asset-specific risks factors.
The assets are subsequently reassessed for indications that an impairment loss previously recognised may no longer exist. An impairment loss is reversed if the asset’s or cash-generating unit’s recoverable amount exceeds its carrying amount.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.10

 Financial instruments

The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value.
 
Page 14

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

  
2.10

 Financial instruments (continued)

Financial assets

All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.

Debt instruments at amortised cost

Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance

Impairment of financial assets

The Company recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised or at fair value through other comprehensive income. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.

The Company always recognises lifetime expected credit losses for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime of expected credit losses represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.

Financial liabilities

At amortised cost

Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.

 
2.11

 Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Page 15

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.12

 Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

  
2.13

 Leases

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

Fixed payments (including in-substance fixed payments), less any lease incentives receivable:
Variable lease payments that are based on an index or a rate, initially measured using the index or rate as at the commencement date;
Amounts expected to be payable by the Company under residual value guarantees;
The exercise price of a purchase option if the Company is reasonably certain to exercise that option; and
Payments of penalties for terminating the lease, if the lease term reflects the Company exercising that option.

Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Company, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.

Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.
Page 16

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

2.13  Leases (continued)

Right-of-use assets are measured at cost comprising the following:

The amount of the initial measurement of lease liability;
Any lease payments made at or before the commencement date less any lease incentives received;
Any initial direct costs; and 
Restoration costs.

Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.

 
2.14

 Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.15

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.16

 Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.17

 Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 17

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.18

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and Assumptions
The key estimates and assumptions concerning the future and other key sources of estimation uncertainty at the financial reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

Estimating useful lives of depreciable assets
The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of fair values and residual values. The directors annually review these asset lives and adjust them as necessary to reflect current thinking on remaining lives in light of technological change, prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have significant impact on depreciation charges for the period. It is not practical to quantity the impact of changes in asset lives on an overall basis, as asset lives are individually determined, and there are a significant number of asset lives in use. The impact of any change would vary significantly depending on the individual changes in assets and the classes of assets impacted.

Provision for expected credit losses of trade receivables
The Company measures expected credit losses of a financial instrument in a way that reflects an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes, the time value of money and information about past events, current conditions and forecasts of future economic conditions. When measuring ECL, the Company uses reasonable and supportable forward-looking information, which is based on assumptions for the future movement of different economic drivers and how these drivers will affect each other.

Page 18

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

4.


Turnover

An analysis of turnover by class of business is as follows:


2022
2021
£
£

Software and support sales
4,454,620
4,416,904


All turnover arose within the United Kingdom.


5.


Operating profit

The operating profit is stated after charging:

2022
2021
£
£

Depreciation of tangible fixed assets
34,389
35,745

Exchange differences
15,040
380

Defined contribution pension cost
24,695
24,961


6.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2022
        2021
            No.
            No.







Sales and marketing staff
3
3



Customer service and training staff
16
16



Technology staff
2
2



Finance staff
1
1

22
22

The directors did not receive any remuneration during the year (2021: £Nil).


7.

Interest payable and similar expenses
2022
2021
£
£


Lease interest payable
6,337
8,394
Page 19

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

8.

Taxation

2022
2021
£
£

Corporation tax


Current tax on profits for the year
206,523
-

Adjustments in respect of previous periods
(82,053)
-


Taxation on profit on ordinary activities
124,470
-

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2021 - lower than) the standard rate of corporation tax in the UK of 19% (2021 - 19%). The differences are explained below:
2022
2021
£
£


Profit on ordinary activities before tax
4,499
1,172,776


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2021 - 19%)
855
222,827

Effects of:


Capital allowances for year in excess of depreciation
2,390
5,486

Other timing differences
(19,202)
(6,758)

Group relief
-
(221,555)

Provision tax adjustment
925
-

(Over)/under provision in prior years
(82,053)
-

Group losses surrendered
221,555
-

Total tax charge for the year
124,470
-
Page 20

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

9.


Intangible assets




Development expenditure

£



Cost


Additions - internal
70,058



At 31 December 2022

70,058






Net book value



At 31 December 2022
70,058



At 31 December 2021
-




Page 21

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

10.


Tangible fixed assets





Leasehold improve-
ments
Fixtures and fittings
Office equipment
Right of use asset
Total

£
£
£
£
£



Cost or valuation


At 1 January 2022
8,955
4,872
452,159
155,064
621,050


Additions
-
16,173
-
-
16,173


Disposals
(2,539)
(4,872)
(452,159)
-
(459,570)



At 31 December 2022

6,416
16,173
-
155,064
177,653



Depreciation


At 1 January 2022
6,271
4,872
452,159
59,441
522,743


Charge for the year
1,384
1,996
-
31,009
34,389


Disposals
(2,539)
(4,872)
(452,159)
-
(459,570)



At 31 December 2022

5,116
1,996
-
90,450
97,562



Net book value



At 31 December 2022
1,300
14,177
-
64,614
80,091



At 31 December 2021
2,684
-
-
95,623
98,307

The right-of-use asset relates to an office building with a remaining term of 3 years. There are no leases with extension options, options to purchase, variable payments linked to an index or with lease termination options.

Page 22

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

11.


Debtors: Amounts falling due within one year

2022
2021
£
£


Trade debtors
396,817
272,262

Amounts owed by group undertakings
6,543,087
7,664,660

Other debtors
14,575
34,271

Prepayments
204,368
217,015

Rent deposit
8,201
-

7,167,048
8,188,208


All amounts are recoverable within one year.
Amounts owed by group undertakings are unsecured, repayable on demand and interest free. 


12.


Cash and cash equivalents

2022
2021
£
£

Bank and cash balances
212,971
524,998



13.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
71,670
6,966

Amounts owed to group undertakings
71,025
142,258

Corporation tax
100,371
6,778

Other taxation and social security
170,673
158,900

Lease liability
32,892
31,013

Other creditors
4,869
25,071

Accruals
212,608
310,642

Deferred income
385,269
291,557

1,049,377
973,185


Amounts owed to group undertakings are unsecured, repayable on demand and interest free.
Glas Trust Corporation Limited hold a fixed and floating charge over the assets of the Company.
Lease liabilities are secured by way of the underlying asset.

Page 23

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

14.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Lease liability
38,285
70,851


Glas Trust Corporation Limited hold a charge over the assets of the Company. 


15.


Deferred taxation




2022


£






At beginning of year
30,446



At end of year
30,446

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
30,446
30,446


16.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1.00 each
2
2



17.


Reserves

Other reserves
Other reserves comprises of capital contributions to Clanwilliam Health (DGL) Limited.

Profit and loss account
Includes all current and prior period retained profits and losses. 

Page 24

 
Clanwilliam Health (DGL) Limited
 
Notes to the financial statements
For the year ended 31 December 2022

18.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £24,695 (2021: £24,961). Contributions totalling £Nil (2021: £Nil) were payable to the fund at 31 December 2022.


19.


Commitments under leases

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
32,892
31,013

Later than 1 year and not later than 5 years
38,285
70,851

71,177
101,864


20.


Controlling party

The immediate parent company is Clanwilliam Investments (U.K.) Limited, a company incorporated in the United Kingdom. 
The smallest and largest consolidated financial statements presented are that of Clanwilliam Headquarters Limited. They are publicly available from the Companies Registration Office, Bloom House, Gloucester Place Lower, Dublin 1.
Clanwilliam Headquarters Limited is owned by a UK trust called The Clanwilliam Group Trust. M H Steven Wilson is the sole trustee and is the ultimate controlling party.


21.


Related party transactions

The Company has availed of the exemption under Financial Reporting Standard 101 section 8(k) not to give details of related party transactions with fellow group companies as they are 100% controlled by a UK Investment Holding Trust.


22.


Post balance sheet events

There have been no significant events affecting the Company since the year end.


Page 25