REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
FOR |
PANACEON HEALTHCARE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
FOR |
PANACEON HEALTHCARE LTD |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PANACEON HEALTHCARE LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
Leicestershire |
Leicester |
LE87 2BB |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
30.9.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
BALANCE SHEET - continued |
30 SEPTEMBER 2023 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved for issue by the Board of Directors and authorised for issue on |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Panaceon Healthcare Ltd is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover is recognised to the extent that the company has obtained the right to consideration through the performance of its contractual obligations. Where the substance is that the company's contractual obligations are performed over time, turnover is recognised as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount recognised represents the right to consideration by reference to the value of the work performed. |
Goodwill |
Goodwill is the amount paid in connection with the acquisition of a business in 2014. |
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. |
Plant and machinery - Straight line over 5 years. |
Computer equipment - Straight line over 5 years. |
Motor Vehicles - 25% reducing balance |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2022 |
Disposals | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 31 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 31 March 2022 |
6. | STOCKS |
30.9.23 | 31.3.22 |
£ | £ |
Stocks |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 102,373 | - |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 31.3.22 |
£ | £ |
Hire purchase contracts (see note 10) |
Trade creditors |
Corporation tax |
Social security and other taxes |
Directors' current accounts | 10,411 | 21,217 |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 31.3.22 |
£ | £ |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.9.23 | 31.3.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 31.3.22 |
value: | £ | £ |
A Ordinary | £1 | 6 | 6 |
B Ordinary | £1 | 74 | 74 |
C Ordinary | £1 | 20 | 20 |
100 | 100 |
12. | RELATED PARTY DISCLOSURES |
Anisha Enterprises Limited |
A company in which A Jain, K Patel and S Patel are all shareholders. |
During the year, Panaceon Healthcare Limited paid rents to Anisha Enterprises Limited totalling £340,000 (2021: £300,000) |
Historically, Panaceon Healthcare Limited paid expenses on behalf of Anisha Enterprises Limited. The amount outstanding as at 30 September 2023 is £ nil (2022: £423,551) |