REGISTERED NUMBER: |
AUDERE MEDICAL SERVICES LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST APRIL 2022 TO 31ST DECEMBER 2022 |
REGISTERED NUMBER: |
AUDERE MEDICAL SERVICES LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST APRIL 2022 TO 31ST DECEMBER 2022 |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 9 |
AUDERE MEDICAL SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Victoria Court, 17-21 Ashford Road |
Maidstone |
Kent |
United Kingdom |
ME14 5DA |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
BALANCE SHEET |
31ST DECEMBER 2022 |
2022 | 2022 |
(Unaudited) |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Audere Medical Services 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 functional presentation currency of the financial statements is the Pound Sterling (£). The accounts are rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. |
Recoverability of debtors |
Estimation is involved in the assessment of the recoverability of debtors and the calculation of the associated bad debt provision. Factors such as the age of the debt, prior experience and recoverability statistics are included in management's assessment. |
Useful economic lives of tangible fixed assets |
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. Management regularly reviews the assets' useful economic lives. Changes in assets' useful economic lives can have a significant impact on depreciation for the period. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. |
Provision for impairments |
Tangible fixed assets are reviewed for signs of impairment each year and written down accordingly. All tangible fixed assets are reviewed by management in conjunction with market data and other relevant information. Changes in any of the factors considered for impairments can affect the value reported in the financial statements. |
Going concern |
These financial statements have been prepared on a going concern basis on the grounds that the Directors consider that the Company has sufficient cash resources to enable the Company to continue to meet its liabilities as they fall due. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
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. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks. Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable interest rate the |
currently effective rate under the contract is used. |
A financial asset is derecognised only when the contractual rights to the cash flows from the financial asset expire or are settled or, substantially all of the risks and rewards of ownership of the financial asset have been transferred to another party or when despite having retained some, but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. A financial liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss. |
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. |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
Debtors |
Debtors include trade debtors and certain other financial instruments, prepayments, accrued income and deferred tax assets. Prepayments are payments made for goods or services that will be received in the future. Accrued income corresponds to the revenue earned during the period but not yet billed to or collected from the customer. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, and bank overdrafts. |
Creditors |
Creditors include trade creditors, deferred income and certain other short and long-term financial instruments. Deferred income corresponds to revenue received from the customer in advance for services not yet performed. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2022 |
Additions |
At 31st December 2022 |
DEPRECIATION |
At 1st April 2022 |
Charge for period |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2022 |
(Unaudited) |
£ | £ |
Trade debtors |
Other debtors | 10,440 | 108,552 |
Intercompany debtor | 13,200 | - |
Directors' current accounts | 181 | 124,699 |
Prepayments |
Accrued income | 53,223 | - |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2022 |
(Unaudited) |
£ | £ |
Trade creditors |
Tax |
s455 creditor | - | 9,165 |
Social security and other taxes |
VAT | 52,028 | 62,800 |
Accrued expenses |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2022 |
(Unaudited) |
£ | £ |
Within one year |
Between one and five years |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
8. | PROVISIONS FOR LIABILITIES |
2022 | 2022 |
(Unaudited) |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1st April 2022 |
Provided during period |
Balance at 31st December 2022 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
We were not appointed as auditor of the company until after 31 December 2022 and thus did not observe the counting of physical stock at the end of the year. We were unable to satisfy ourselves by alternative means concerning the stock quantities held at 31 December 2022, which are included in the balance sheet at £205,821, by using other audit procedures. Consequently, we were unable to determine whether any adjustments to these amounts were necessary. |
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 Auditor's Responsibilities 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 UK, including the FRC's Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with those requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
for and on behalf of |
MHA is the trading name of Macintyre Hudson LLP a limited liability |
partnership in England and Wales (registered number OC312313) |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to/(from) directors subsisted during the period ended 31st December 2022 and the year ended 31st March 2022: |
2022 | 2022 |
(Unaudited) |
£ | £ |
G Jones (deceased) |
Balance outstanding at start of period | 53,002 | 36,264 |
Amounts advanced | - | 16,738 |
Amounts repaid | (53,002 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | - | 53,002 |
AUDERE MEDICAL SERVICES LIMITED (REGISTERED NUMBER: 04328849) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2022 TO 31ST DECEMBER 2022 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Interest is charged on the above loans. |
The loans are repayable on demand. |
11. | ULTIMATE CONTROLLING PARTY |
The Company's immediate parent undertaking is IHSS Limited, whose registered address is Unit 9 Premier Park Road, Park Royal, London, NW10 7NZ. |
VAMED AG heads the smallest group in which the results of this Company are consolidated. The consolidated financial statements of VAMED AG are available at their registered office, Sterngasse 5, 1230 Vienna, Austria. |
The ultimate controlling party is Fresenius SE & Co KGaA, whose registered office is Bad Homburg, Germany |
Commercial Register, Bad Homburg, Germany, HRB 11852. Fresenius SE & Co KGaA heads the largest |
group in which the results of this Company are consolidated. |