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REGISTRAR OF COMPANIES

Registration number: SC455606

EH4 Healthcare Limited

Unaudited Financial Statements

31 August 2023

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EH4 Healthcare Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
EH4 Healthcare Limited
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of EH4 Healthcare Limited for the year ended 31 August 2023 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of EH4 Healthcare Limited, as a body, in accordance with the terms of our engagement letter dated 23 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of EH4 Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of EH4 Healthcare Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EH4 Healthcare Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that EH4 Healthcare Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of EH4 Healthcare Limited. You consider that EH4 Healthcare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of EH4 Healthcare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

18 March 2024

 

EH4 Healthcare Limited

(Registration number: SC455606)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

164,713

241,584

Tangible assets

5

238,564

263,497

 

403,277

505,081

Current assets

 

Stocks

5,000

12,661

Debtors

6

35,407

82,452

Cash at bank and in hand

 

572,295

517,848

 

612,702

612,961

Creditors: Amounts falling due within one year

7

(155,428)

(132,187)

Net current assets

 

457,274

480,774

Total assets less current liabilities

 

860,551

985,855

Creditors: Amounts falling due after more than one year

7

(265,929)

(282,824)

Provisions for liabilities

(25,249)

(28,380)

Net assets

 

569,373

674,651

Capital and reserves

 

Allotted, called up and fully paid share capital

3

3

Profit and loss account

569,370

674,648

Total equity

 

569,373

674,651

 

EH4 Healthcare Limited

(Registration number: SC455606)
Balance Sheet as at 31 August 2023 (continued)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 March 2024 and signed on its behalf by:
 

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

J M Gall

Director

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

I S Ollerhead

Director

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
461 Queensferry Road
EDINBURGH
EH4 7ND

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Tax

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

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 taxable income.

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

20 years straight line basis

Improvements to property

20 years straight line basis

Plant and equipment

25% reducing balance basis

Furniture, fittings and office equipment

15% reducing balance and 3 years straight line bases

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 year straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 18).

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

768,706

768,706

At 31 August 2023

768,706

768,706

Amortisation

At 1 September 2022

527,122

527,122

Amortisation charge

76,871

76,871

At 31 August 2023

603,993

603,993

Carrying amount

At 31 August 2023

164,713

164,713

At 31 August 2022

241,584

241,584

5

Tangible assets

Land and buildings
£

Improvements to property
 £

Plant and equipment
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 September 2022

140,848

59,357

239,649

95,038

534,892

Additions

-

-

13,049

644

13,693

At 31 August 2023

140,848

59,357

252,698

95,682

548,585

Depreciation

At 1 September 2022

32,863

22,098

155,496

60,938

271,395

Charge for the year

7,042

2,968

23,213

5,403

38,626

At 31 August 2023

39,905

25,066

178,709

66,341

310,021

Carrying amount

At 31 August 2023

100,943

34,291

73,989

29,341

238,564

At 31 August 2022

107,985

37,259

84,153

34,100

263,497

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

6

Debtors

2023
£

2022
£

Trade debtors

17,376

80,157

Other debtors

18,031

2,295

35,407

82,452

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

16,071

11,236

Trade creditors

 

44,815

16,173

Taxation and social security

 

6,362

5,609

Corporation tax liability

 

76,630

89,108

Other creditors

 

11,550

10,061

 

155,428

132,187

Due after one year

 

Loans and borrowings

8

265,929

282,824

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

16,071

11,176

Other borrowings

-

60

16,071

11,236

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

16,071

11,176

Bank borrowings are secured by fixed and floating charges over the company's assets.

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

265,929

282,824

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

265,929

282,824

Bank borrowings are secured by fixed and floating charges over the company's assets.

 

EH4 Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

9

Related party transactions

Transactions with directors

2023

At 1 September 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 August 2023
£

I S Ollerhead

Directors loan

405

495

-

-

(405)

-

495

               
         

J M Gall

Directors Loan

-

781

-

-

-

-

781

               
         

 

2022

At 1 September 2021
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 August 2022
£

I S Ollerhead

Directors loan

1,239

406

-

-

(1,240)

-

405

               
         

J M Gall

Directors Loan

533

63

4

-

(600)

-

-

               
         

 

Directors' advances are repayable on demand.

No interest has been charged on advances to directors.