Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseCommunity pharmacy66falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05971279 2023-03-01 2024-02-29 05971279 2022-03-01 2023-02-28 05971279 2024-02-29 05971279 2023-02-28 05971279 c:Director1 2023-03-01 2024-02-29 05971279 d:Buildings 2023-03-01 2024-02-29 05971279 d:Buildings 2024-02-29 05971279 d:Buildings 2023-02-28 05971279 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05971279 d:PlantMachinery 2023-03-01 2024-02-29 05971279 d:PlantMachinery 2024-02-29 05971279 d:PlantMachinery 2023-02-28 05971279 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05971279 d:MotorVehicles 2023-03-01 2024-02-29 05971279 d:MotorVehicles 2024-02-29 05971279 d:MotorVehicles 2023-02-28 05971279 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05971279 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05971279 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-01 2024-02-29 05971279 d:Goodwill 2024-02-29 05971279 d:Goodwill 2023-02-28 05971279 d:CurrentFinancialInstruments 2024-02-29 05971279 d:CurrentFinancialInstruments 2023-02-28 05971279 d:Non-currentFinancialInstruments 2024-02-29 05971279 d:Non-currentFinancialInstruments 2023-02-28 05971279 c:FRS102 2023-03-01 2024-02-29 05971279 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05971279 c:FullAccounts 2023-03-01 2024-02-29 05971279 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05971279 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 05971279


SPA HEALTHCARE (UK) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SPA HEALTHCARE (UK) LIMITED
REGISTERED NUMBER: 05971279

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
£
£


Fixed assets
330,894
348,332

Current assets
119,229
166,632

Creditors: amounts falling due within one year
(213,801)
(224,234)

Net current liabilities
 
 
(94,572)
 
 
(57,602)

Total assets less current liabilities
236,322
290,730

Creditors: amounts falling due after more than one year
(237,452)
(278,780)


Net (liabilities)/assets
(1,130)
11,950



Capital and reserves
(1,130)
11,950


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 August 2024.




Mr Y Wiafe Annor
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
SPA HEALTHCARE (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Spa Healthcare (UK) Limited is a private company, limited by share capital, incorporated in England and Wales under registration number: 05971279. The address of registered office is 40 High Street, Markyate, St Albans, Hertfordshire AL3 8BP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the assumption that the company will have the continued financial support of the shareholders. The shareholders of the company have sufficient resources to finance the company as and when the need arises. 
The financial statements have been prepared on a going concern basis which is dependent on the financial support of the shareholders to ensure that the company will continue in operational existence for the foreseeable future.

Page 2

 
SPA HEALTHCARE (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

Revenue

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 the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Goodwill
-
10%
straight line

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SPA HEALTHCARE (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line/reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2.5% straight line
Plant and machinery
-
25% reducing balance
Delivery vehicle
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
SPA HEALTHCARE (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
305,370



At 29 February 2024

305,370



Amortisation


At 1 March 2023
305,370



At 29 February 2024

305,370



Net book value



At 29 February 2024
-



At 28 February 2023
-



Page 5

 
SPA HEALTHCARE (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Freehold land and building
Plant and machinery
Delivery vehicle
Total

£
£
£
£



Cost or valuation


At 1 March 2023
454,862
25,102
37,964
517,928



At 29 February 2024

454,862
25,102
37,964
517,928



Depreciation


At 1 March 2023
130,796
16,852
21,948
169,596


Charge for the year on owned assets
11,372
2,063
4,004
17,439



At 29 February 2024

142,168
18,915
25,952
187,035



Net book value



At 29 February 2024
312,694
6,187
12,012
330,893



At 28 February 2023
324,066
8,251
16,016
348,333


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
63,858
83,385

VAT repayable
7,052
7,678

Section 458 tax repayable
-
6,316

Prepayments and accrued income
2,749
2,972

73,659
100,351


Page 6

 
SPA HEALTHCARE (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other creditors
771
-

Bank loans
43,658
38,005

Obligations under finance lease and hire purchase contracts
-
8,157

Trade creditors
91,377
90,247

Corporation tax
1,022
4,283

Other taxation and social security
546
395

Directors loan account
74,941
82,342

Accruals and deferred income
1,486
805

213,801
224,234


Bank loan of £38,538 (2023 - £28,000) is secured by fixed and floating charge over the assets of the company and £5,120 (2023 - £10,005) is unsecured bounce back loan.


8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
237,452
278,780

237,452
278,780


Bank loan of £214,284 (2023 - £253,791) is secured by fixed and floating charge over the assets of the company and £23,168 (2023 - £24,989) is unsecured bounce back loan.


9.


Controlling party

The company is under the control of the directors, Mr Y Wiafe Annor (95% share) and Mrs G C Wiafe Annor (5% share), by virtue of the fact between them they own 100% of the issued share capital.

 
Page 7