Registered number: 09821018 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
Berry Kearsley Stockwell Ltd | ||||||||
Accountants | ||||||||
Sterling House | ||||||||
31-32 High Street | ||||||||
Wellingborough | ||||||||
Northants | ||||||||
NN8 4HL |
MPG Healthcare Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Northamptonshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 09821018 | ||||||||
ACCOUNTANTS | ||||||||
Berry Kearsley Stockwell Ltd | ||||||||
Accountants | ||||||||
Sterling House | ||||||||
31-32 High Street | ||||||||
Wellingborough | ||||||||
Northants | ||||||||
NN8 4HL |
MPG Healthcare Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 5 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
MPG Healthcare Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 3 | |||||||||
Tangible assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Current Asset Investments | 7 | |||||||||
Cash at bank and in hand | ||||||||||
1,129,709 | 403,746 | |||||||||
CREDITORS: Amounts falling due within one year | 8 | |||||||||
NET CURRENT ASSETS | 112,960 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 9 | 1,020,105 | 554,520 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 11 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 12 | |||||||||
Profit and loss account | 394,424 | 353,973 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
MPG Healthcare Limited | ||||||||
BALANCE SHEET AT | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
............................. | ||||||||||
Mr R M Moledina | ||||||||||
Director | ||||||||||
............................. | ||||||||||
Mr J Patel | ||||||||||
Director |
MPG Healthcare Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Leasehold Property Improvements | straight line 6.67% | |||||||
Fixtures, Fittings and Equipment | reducing balance 25% | |||||||
Computer Equipment | reducing balance 33% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Goodwill | ||||||||
MPG Healthcare Limited | ||||||||
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 7 | |||||
3. INTANGIBLE FIXED ASSETS | |||||||||
Purchased | |||||||||
Goodwill | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/04/2023 | 1,410,000 | 1,410,000 | |||||||
At 31/03/2024 | 1,410,000 | 1,410,000 | |||||||
Depreciation | |||||||||
At 01/04/2023 | 658,000 | 658,000 | |||||||
For the year | 94,000 | 94,000 | |||||||
At 31/03/2024 | 752,000 | 752,000 | |||||||
Net Book Amounts | |||||||||
At 31/03/2024 | |||||||||
At 31/03/2023 | |||||||||
It has been estimated that the useful economic life of the goodwill and intangible assets of the business acquisition is 15 years. This is to fall in line with the length of the lease term held by MPG Healthcare Ltd. | |||||||||
4. TANGIBLE FIXED ASSETS | ||||||||
Leasehold Property | Fixtures, Fittings | Computer | ||||||
Improvements | and Equipment | Equipment | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/04/2023 | 44,730 | 23,194 | 13,238 | 81,162 | ||||
Additions | - | 4,692 | 3,597 | 8,289 | ||||
At 31/03/2024 | 44,730 | 27,886 | 16,835 | 89,451 | ||||
Depreciation | ||||||||
At 01/04/2023 | 20,533 | 9,729 | 2,706 | 32,968 | ||||
For the year | 2,983 | 4,152 | 4,213 | 11,348 | ||||
At 31/03/2024 | 23,516 | 13,881 | 6,919 | 44,316 | ||||
Net Book Amounts | ||||||||
At 31/03/2024 | 45,135 | |||||||
At 31/03/2023 | 48,194 | |||||||
MPG Healthcare Limited | ||||||||
5. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 198,845 | 115,680 | ||||||
VAT | 49,490 | 32,840 | ||||||
PAYE control | 191 | - | ||||||
Other debtors | 14,488 | - | ||||||
Prepayments | 7,261 | 2,798 | ||||||
270,275 | 151,318 | |||||||
7. CURRENT ASSET INVESTMENTS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Other investments | 646,837 | 19,350 | ||||||
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 46,108 | 28,252 | ||||||
PAYE control | - | 798 | ||||||
Bank Loan | 92,000 | 92,000 | ||||||
Credit card | 18,288 | - | ||||||
Trade creditors | 250,883 | 166,749 | ||||||
Pension schemes | 1,318 | 529 | ||||||
Accruals | 5,071 | 2,458 | ||||||
413,668 | 290,786 | |||||||
MPG Healthcare Limited | ||||||||
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (secured) >1yr | 92,000 | 184,000 | ||||||
Due to group companies >1yr | 928,105 | 370,520 | ||||||
1,020,105 | 554,520 | |||||||
10. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 184,000 | 276,000 | ||||||
Santander UK PLC have a fixed charge over the leasehold property at 27 The Square, Earls Barton, Northants and 28 The Square, Earls Barton, Northants. Santander UK PLC also has a fixed charge and floating charge over all the property or undertaking of MPG Healthcare Ltd. | ||||||||
11. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 4,545 | 4,559 | ||||||
4,545 | 4,559 | |||||||
12. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
102 | 102 | |||||||
102 | 102 | |||||||