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Registered number: 10054063










WILLINGTON HEALTHCARE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
WILLINGTON HEALTHCARE LIMITED
REGISTERED NUMBER: 10054063

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,524,433
1,524,433

  
1,524,433
1,524,433

Current assets
  

Debtors: amounts falling due within one year
 5 
163,106
282,814

Cash at bank and in hand
 6 
938
849

  
164,044
283,663

Creditors: amounts falling due within one year
 7 
(751,613)
(758,517)

Net current liabilities
  
 
 
(587,569)
 
 
(474,854)

Total assets less current liabilities
  
936,864
1,049,579

Creditors: amounts falling due after more than one year
 8 
(928,071)
(1,041,291)

  

Net assets
  
8,793
8,288


Capital and reserves
  

Called up share capital 
  
20
20

Profit and loss account
  
8,773
8,268

  
8,793
8,288


Page 1

 
WILLINGTON HEALTHCARE LIMITED
REGISTERED NUMBER: 10054063
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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 statement of income and retained earnings 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 21 August 2024.




Mr K A Simpson
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The company is a private company limited by share capital, incorporated in England & Wales, registration number 10054063. 
The address of its registered office is Lakeside House, Kingfisher Way, Stockton-On-Tees, T818 3NB.

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 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 following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

At the year end the company reported net current liabilities totalling £587,569 (2022 - £474,854). However, liabilities includes £642,000 (2022 - £642,000) owed to companies under common control. The directors of the companies have indicated a willingness to finance any shortages in the company's day to day finances and for such an arrangement to continue for a period of not less than one year from the date the financial statements were approved.
The company meets its day to day working capital requirements through cash generated from operations, shareholder, bank and related company borrowings.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Page 3

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

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:

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.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

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.

 
2.9

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.

Page 4

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

Page 5

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2022
1,524,433



At 31 August 2023
1,524,433





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Britton & Robson Limited
Lakeside House, Kingfisher Way, Stockton-On-Tees, T818 3NB
Ordinary shares
100%

The aggregate of the share capital and reserves as at 31 August 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Britton & Robson Limited

264,320
(38,808)


5.


Debtors

2023
2022
£
£


Trade debtors
5,400
-

Amounts owed by group undertakings
157,314
282,814

Other debtors
392
-

163,106
282,814


Page 6

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
938
849

938
849



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
108,726
105,000

Trade creditors
-
432

Other taxation and social security
-
821

Other creditors
642,000
650,794

Accruals and deferred income
887
1,470

751,613
758,517


The following liabilities were secured:

2023
2022
£
£



Bank loans
108,726
105,000

108,726
105,000

Details of security provided:

Bank borrowings are secured by a fixed and floating charge dated 5 May 2017 against asset of the company.

Page 7

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
928,071
1,041,291

928,071
1,041,291


The following liabilities were secured:

2023
2022
£
£



Bank loans
928,071
1,041,291

928,071
1,041,291

Details of security provided:

Bank borrowings are secured by a fixed and floating charge dated 5 May 2017 against asset of the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
493,167
606,387

493,167
606,387



Page 8

 
WILLINGTON HEALTHCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
108,726
104,999


108,726
104,999

Amounts falling due 1-2 years

Bank loans
108,726
108,726


108,726
108,726

Amounts falling due 2-5 years

Bank loans
326,178
326,178


326,178
326,178

Amounts falling due after more than 5 years

Bank loans
493,167
606,387

493,167
606,387

1,036,797
1,146,290


 
Page 9