Company Registration No. 04872420 (England and Wales)
LONDON WOMEN'S HOSPITAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
LONDON WOMEN'S HOSPITAL LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
LONDON WOMEN'S HOSPITAL LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
101
101
Current assets
Debtors
5
3,938,809
2,462,547
Cash at bank and in hand
4,900
5,000
3,943,709
2,467,547
Creditors: amounts falling due within one year
6
(529,200)
(2,266,543)
Net current assets
3,414,509
201,004
Total assets less current liabilities
3,414,610
201,105
Creditors: amounts falling due after more than one year
7
(3,000,000)
-
0
Net assets
414,610
201,105
Capital and reserves
Called up share capital
100
100
Share premium account
995
995
Profit and loss reserves
413,515
200,010
Total equity
414,610
201,105

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
D Williams
Director
Company Registration No. 04872420
LONDON WOMEN'S HOSPITAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 November 2021
100
995
-
0
1,095
Year ended 31 October 2022:
Profit and total comprehensive income for the year
-
-
1,159,120
1,159,120
Dividends
-
-
(959,110)
(959,110)
Balance at 31 October 2022
100
995
200,010
201,105
Year ended 31 October 2023:
Profit and total comprehensive income for the year
-
-
363,515
363,515
Dividends
-
-
(150,010)
(150,010)
Balance at 31 October 2023
100
995
413,515
414,610
LONDON WOMEN'S HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

London Women's Hospital Limited is a private company limited by shares incorporated in England and Wales. The registered office is 113-115 Harley Street, London, W1G 6AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of J D Healthcare Limited. These consolidated financial statements are available from its registered office, 113-115 Harley Street, London, W1G 6AP.

 

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

LONDON WOMEN'S HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

LONDON WOMEN'S HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
101
101

Included in investments is a £100 investment in London Sperm Bank Limited, and a £1 investment in The London Egg Bank Limited, being for the par value of the shareholdings in both companies.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
938,809
2,462,547
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
3,000,000
-
0
Total debtors
3,938,809
2,462,547

Included in debtors due in over one year is an amount of £3m from The London Egg Bank Limited. This loan is interest bearing at the Bank of England base rate, and is due for repayment in 5 years.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
529,200
2,266,543
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
3,000,000
-
0
LONDON WOMEN'S HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
7
Creditors: amounts falling due after more than one year
(Continued)
- 6 -

Included in creditors due in over one year is an amount of £3m due to the parent company. This loan is interest bearing at the Bank of England base rate, and is due for repayment in 5 years.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Carol Cheesman
Statutory Auditor:
Cheesmans
9
Financial commitments, guarantees and contingent liabilities

There is a fixed and floating charge between the companies of the J D Healthcare Group Limited under the terms of which amounts due to HSBC Bank Plc are secured on the assets of all group companies. There have been no instances in the year or to date whereby the obligations under this debenture have been breached and therefore this debenture is not currently enforceable.

 

The Company participates in a cross guarantee with other companies in the group and HSBC whereby amounts due to and from HSBC can be offset.

10
Parent company

The parent company of London Women's Hospital Limited is J D Healthcare Limited and its registered office is 113-115 Harley Street, London, W1G 6AP, United Kingdom.

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