Claimont Health Ltd
Registered number: 08107565
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - -
Tangible assets 4 29,173 30,822
29,173 30,822
Current assets
Debtors 5 258,137 355,841
Cash at bank and in hand 514,192 601,371
772,329 957,212
Creditors: amounts falling due within one year 6 (573,284) (703,481)
Net current assets 199,045 253,731
Total assets less current liabilities 228,218 284,553
Creditors: amounts falling due after more than one year 7 (164,255) (223,818)
Provisions for liabilities (5,543) (5,856)
Net assets 58,420 54,879
Capital and reserves
Called up share capital 150 150
Profit and loss account 58,270 54,729
Shareholder's funds 58,420 54,879
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr V Gradillas Gonzalez
Director
Approved by the board on 28 February 2024
Claimont Health Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services and is recognised when the service is performed.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment and fittings over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 27 26
3 Intangible fixed assets £
Software
Cost
At 1 July 2022 9,600
At 30 June 2023 9,600
Amortisation
At 1 July 2022 9,600
At 30 June 2023 9,600
Net book value
At 30 June 2023 -
At 30 June 2022 -
Software is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office Equipment & Fittings Total
£ £
Cost
At 1 July 2022 62,455 62,455
Additions 5,733 5,733
At 30 June 2023 68,188 68,188
Depreciation
At 1 July 2022 31,633 31,633
Charge for the year 7,382 7,382
At 30 June 2023 39,015 39,015
Net book value
At 30 June 2023 29,173 29,173
At 30 June 2022 30,822 30,822
5 Debtors 2023 2022
£ £
Trade debtors 106,152 182,319
Amounts owed by group undertakings and undertakings in which the company has a participating interest 117,339 132,824
Other debtors 34,646 40,698
258,137 355,841
Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 103,643 59,518
Trade creditors 27,682 83,656
Taxation and social security costs 30,280 35,843
Other creditors 411,679 524,464
573,284 703,481
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 164,255 223,818
164,255 223,818
8 Loans
The bank loan was granted under the coronavirus business interruption loan facility scheme. The
loan is guaranteed by the Department for Business, Energy and Industrial Strategy. No capital or
interest was payable in the first 12 months of the loan. After year one, the loan is repayable in
instalments over a further 5 year period.
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 4,500 9,954
10 Controlling party
The immediate parent undertaking is Claimont (UK) Limited, a company incorporated in England & Wales. The ultimate parent undertaking is Claimont Group Limited, a company incorporated in Jersey, which is controlled by V Gradillas Gonzalez, a director of the company.
11 Other information
Claimont Health Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Park Place
Newdigate Road
Harefield
Middlesex
UB9 6EJ
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