Company Registration No. 08085682 (England and Wales)
B2X Care Solutions Limited
Financial statements
for the year ended 31 December 2023
Pages for filing with the registrar
B2X Care Solutions Limited
Company information
Director
Dion Carter
Company number
08085682
Registered office
Suite 1, 17th Floor
50 Broadway
London
SW1H 0BL
Independent auditors
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
B2X Care Solutions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 7
B2X Care Solutions Limited
Balance sheet
As at 31 December 2023
31 December 2023
1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
83,957
76,894
Cash at bank and in hand
31,913
31,323
115,870
108,217
Creditors: amounts falling due within one year
6
(38,117)
(45,338)
Net current assets
77,753
62,879
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
77,752
62,878
Total equity
77,753
62,879

The director of the company has 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 and signed by the director and authorised for issue on 21 August 2024.
Dion Carter
Director
Company Registration No. 08085682
B2X Care Solutions Limited
Notes to the financial statements
For the year ended 31 December 2023
2
1
Accounting policies
Company information

B2X Care Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 1, 17th Floor, 50 Broadway, London, SW1H 0BL.

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 financial statements of the company are consolidated in the financial statements of B2X Care Solutions GmbH. These consolidated financial statements are available from its registered office at Rosenheimer Str. 145D, 81671 München, Germany.

1.2
Going concern

The financial statements have been prepared on a going concern basis. The company is dependent for its income on the parent company, B2X Care Solutions GmbH. The company's revenue is generated via an agreement with the immediate parent company, who have agreed to continue to support the company for the foreseeable future. However, the current performance of the parent company along with the impact of the current global events creates material uncertainty that the financial projections will be achieved and that the parent will be able to provide continued support. This indicates the existence of a material uncertainty that may cast doubt on the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern. true

 

The parent company B2X Care Solutions GmbH has confirmed in writing that the provision of financial support will continue for the foreseeable future, extending to at least 12 months from the date of approval of the financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
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.

B2X Care Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
3

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:

Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
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. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors, 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.

B2X Care Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
4
1.7
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.

1.8
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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

B2X Care Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
5
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

 

There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

3
Employees

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

2023
2022
Number
Number
Total
5
4
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
50,935
Depreciation and impairment
At 1 January 2023 and 31 December 2023
50,935
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
B2X Care Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
82,526
75,360
Other debtors
1,431
1,534
83,957
76,894

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,879
2,175
Corporation tax
4,301
813
Other taxation and social security
12,393
16,834
Other creditors
19,544
25,516
38,117
45,338
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
B2X Care Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
7
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.

Material uncertainty related to going concern

We have considered the adequacy of the disclosure made in note 1.2 to the financial statements concerning the company's ability to continue as a going concern. The company's revenue is generated via an agreement with the immediate parent company, who have agreed to continue to support the company for the foreseeable future. However, the current performance of the parent company along with the impact of the current global events creates material uncertainty that the financial projections will be achieved and that the parent will be able to provide continued support. This indicates the existence of a material uncertainty that may cast doubt on the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern. Our opinion is not modified in respect of this matter.

 

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

The senior statutory auditor was Lorenzo Mosca.
The auditor was Saffery LLP.
9
Related party transactions

The company has taken advantage of the exemption in Financial Reporting Standard 102 Section 1A from the requirement to disclose related party transactions with companies that are wholly owned within the group. Amounts outstanding at year end are disclosed in the Debtors note.

10
Parent company

The immediate parent company is B2X Care Solutions GmbH, a company registered in Germany.

 

The director does not consider there to be any one ultimate controlling party.

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