Company registration number NI045768 (Northern Ireland)
PHOENIX HEALTHCARE (NI) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PHOENIX HEALTHCARE (NI) LIMITED
CONTENTS
Page
Directors' report
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PHOENIX HEALTHCARE (NI) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
501,262
523,847
Current assets
Stocks
2,000
1,500
Debtors
5
-
7,955
Cash at bank and in hand
194,968
163,044
196,968
172,499
Creditors: amounts falling due within one year
6
(84,542)
(71,226)
Net current assets
112,426
101,273
Total assets less current liabilities
613,688
625,120
Creditors: amounts falling due after more than one year
7
(370,070)
(375,207)
Provisions for liabilities
(2,074)
(2,575)
Net assets
241,544
247,338
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
241,543
247,337
Total equity
241,544
247,338
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PHOENIX HEALTHCARE (NI) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
2024
2023
Notes
£
£
£
£
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
Mrs P McCartney
Director
Company Registration No. NI045768
PHOENIX HEALTHCARE (NI) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
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.
1.2
Turnover
Turnover represents the invoiced value of services during the period. It is recognised in the financial statements on production of an invoice or remittance advice or, in any other case, on the receipt of fees.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Buildings
4% reducing balance
Equipment
25% reducing balance
Furniture
25% reducing balance
Computer equipment
33% reducing balance
Freehold land is not depreciated.
1.4
Leased assets
Rentals under operating leases are charged to revenue as incurred.
1.5
Pension costs
The company makes contributions to a personal pension scheme for certain employees. The cost of funding the defined contribution scheme is charged to the profit and loss account.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
PHOENIX HEALTHCARE (NI) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
59
65
3
Tangible fixed assets
Buildings
Equipment
Furniture
Computer equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
1,073,906
176,223
49,525
4,075
1,303,729
Additions
1,978
1,978
At 31 March 2024
1,073,906
176,223
49,525
6,053
1,305,707
Depreciation and impairment
At 1 April 2023
564,405
163,957
47,673
3,847
779,882
Depreciation charged in the year
20,380
3,067
463
653
24,563
At 31 March 2024
584,785
167,024
48,136
4,500
804,445
Carrying amount
At 31 March 2024
489,121
9,199
1,389
1,553
501,262
At 31 March 2023
509,501
12,266
1,852
228
523,847
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
400,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
400,000
Carrying amount
At 31 March 2024
At 31 March 2023
PHOENIX HEALTHCARE (NI) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trust fees outstanding
-
7,955
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,753
10,333
Accruals
36,168
26,017
Corporation tax payable
20,598
21,743
PAYE
17,023
13,133
84,542
71,226
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Directors' current account
370,070
375,207
8
Provisions for liabilities
2024
2023
£
£
Deferred tax
2,074
2,575
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Allotted, called up and fully paid
1 ordinary share of £1
1
1
10
Related party disclosures
The company is a wholly owned subsidiary of Phoenix Healthcare Holdings Limited and is exempt under FRS 8 from disclosing related party transactions within the Phoenix Healthcare Holdings Limited group.