GLOBAL HOSPITAL LIMITED

Company Registration Number:
SC754485 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 6 January 2023

End date: 31 December 2023

GLOBAL HOSPITAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GLOBAL HOSPITAL LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Directors

The directors shown below have held office during the whole of the period from
6 January 2023 to 31 December 2023

Mr Garreth Wood
Mr David Cunningham


Secretary Turcan Connell Company Secretaries Limited

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 June 2024

And signed on behalf of the board by:
Name: Mr Garreth Wood
Status: Director

GLOBAL HOSPITAL LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023


£
Turnover: 144,436
Cost of sales: ( 74,002 )
Gross profit(or loss): 70,434
Distribution costs: 0
Administrative expenses: ( 45,070 )
Other operating income: 0
Operating profit(or loss): 25,364
Profit(or loss) before tax: 25,364
Tax: ( 19,957 )
Profit(or loss) for the financial year: 5,407

GLOBAL HOSPITAL LIMITED

Balance sheet

As at 31 December 2023

Notes 2023


£
Fixed assets
Tangible assets: 3 1,006
Investments:   0
Total fixed assets: 1,006
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 50,954
Investments:   0
Total current assets: 50,954
Creditors: amounts falling due within one year: 4 ( 46,552 )
Net current assets (liabilities): 4,402
Total assets less current liabilities: 5,408
Total net assets (liabilities): 5,408
Capital and reserves
Called up share capital: 1
Profit and loss account: 5,407
Total Shareholders' funds: 5,408

The notes form part of these financial statements

GLOBAL HOSPITAL LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

This report was approved by the board of directors on 18 June 2024
and signed on behalf of the board by:

Name: Mr Garreth Wood
Status: Director

The notes form part of these financial statements

GLOBAL HOSPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as fair value of the consideration received and receivable excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised. Rendering of services - Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied;1. the amount of revenue can be measured reliably2. it is probably that the company will receive the consideration due under the contract.3. the stage of completion of the contact at the end of the reporting period can be measured reliably4. the costs incurred and the costs to complete the contract can be measured reliably.

    Tangible fixed assets depreciation policy

    Fixed assets are capitalised at cost and written off over their expected useful lives as follows;Plant and equipment - straight line - 5 years for office furniture and 3 years for other fixed assets.

    Other accounting policies

    Going ConcernThe directors having made due and careful enquiry and preparing forecasts are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore have made an informed judgement at the time of approving the financial statements that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.Expenditure - Liabilities are recognised when the group has an obligation to make a payment to a third party. Resources expended are included in the statement of profit and loss on an accruals basis, inclusive of any irrecoverable VAT. Expenditure is directly attributed to the relevant category in the statement of profit and loss where practical.Distributions under Gift Aid - Distributions under gift aid to the parent company are recognised when there is a legal obligation to make the payment.Taxation - Taxation is recognised in the profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet data in the countries where the company operated and generates income.Foreign Currencies - Assets, liabilities, revenues, and costs denominated in foreign currencies are recorded at the rates of exchange ruling at the dates of the transactions; monetary assets and liabilities at the balance sheet date are translated at the year-end rate of exchange. The resulting profits or losses are dealt with in the Statement of Financial Activities Profit and Loss. Pensions Eligible employees are members of defined contribution pension schemes. Pension costs charged to the Statement of Profit and Loss Financial Activities represents the contributions payable by the company in the year. Financial instruments The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows 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 arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualified as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 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 objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. Financial assets and liabilities are offset, and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and Cash Equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Staff Costs and Numbers The company has no employees directly employed in the year, the employee costs are shared cost recharges from Kids Operating Room.DIRECTORS' EMOLUMENTS AND EXPENSES The Directors received no remuneration from the company during the current period. No Directors received or waived any expenses from the company during the current period.

GLOBAL HOSPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023
    Average number of employees during the period 0

    Staff Costs and NumbersThe company has no employees directly employed in the year, the employee costs are shared cost recharges from Kids Operating Room.

GLOBAL HOSPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 1,078 1,078
Disposals
Revaluations
Transfers
At 31 December 2023 1,078 1,078
Depreciation
Charge for year 72 72
On disposals
Other adjustments
At 31 December 2023 72 72
Net book value
At 31 December 2023 1,006 1,006

Tangible fixed assets and depreciation Fixed assets are capitalised at cost and written off over their expected, useful lives as followsPlant and equipment - Straight Line, 5 years for office furniture and 3 years for other fixed assets

GLOBAL HOSPITAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 27,137
Taxation and social security 0
Accruals and deferred income 19,415
Total 46,552

£27,137 amounts owed to group undertakings£15,219 Deferred Income £4,196 Accruals