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REGISTERED NUMBER: 08436973 (England and Wales)












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: Mr A Jain
Dr K Patel
Dr S Patel



REGISTERED OFFICE: 12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



REGISTERED NUMBER: 08436973 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Barclays Bank Plc
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 - 2
Tangible assets 5 - 72,686
- 72,688

CURRENT ASSETS
Stocks 6 - 1,835
Debtors 7 102,373 480,502
Cash at bank and in hand 1,724,071 271,539
1,826,444 753,876
CREDITORS
Amounts falling due within one year 8 312,272 120,784
NET CURRENT ASSETS 1,514,172 633,092
TOTAL ASSETS LESS CURRENT LIABILITIES 1,514,172 705,780

CREDITORS
Amounts falling due after more than
one year

9

-

(29,416

)

PROVISIONS FOR LIABILITIES - (13,982 )
NET ASSETS 1,514,172 662,382

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,514,072 662,282
SHAREHOLDERS' FUNDS 1,514,172 662,382

PANACEON HEALTHCARE LTD (REGISTERED NUMBER: 08436973)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 for issue by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:





Dr K Patel - Director


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 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 pound.

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.

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 68 (2022 - 63 ) .

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 2
Disposals (2 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 31 March 2022 2

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 April 2022 12,919 93,484 21,985 128,388
Additions - 58,190 5,393 63,583
Disposals (12,919 ) (151,674 ) (27,378 ) (191,971 )
At 30 September 2023 - - - -
DEPRECIATION
At 1 April 2022 2,901 40,941 11,860 55,702
Charge for period - 34,671 4,872 39,543
Eliminated on disposal (2,901 ) (75,612 ) (16,732 ) (95,245 )
At 30 September 2023 - - - -
NET BOOK VALUE
At 30 September 2023 - - - -
At 31 March 2022 10,018 52,543 10,125 72,686

6. STOCKS
30.9.23 31.3.22
£ £
Stocks - 1,835

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 - 56,754
Other debtors - 423,551
Directors' current accounts 102,373 -
Prepayments and accrued income - 197
102,373 480,502

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 31.3.22
£ £
Hire purchase contracts (see note 10) - 14,708
Trade creditors 1 40,813
Corporation tax 297,120 13,249
Social security and other taxes - 19,811
Directors' current accounts 10,411 21,217
Accruals and deferred income 4,740 10,986
312,272 120,784

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 31.3.22
£ £
Hire purchase contracts (see note 10) - 29,416

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 - 14,708
Between one and five years - 29,416
- 44,124

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: £ £
6 A Ordinary £1 6 6
74 B Ordinary £1 74 74
20 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)