IRIS Accounts Production v24.2.0.383 04328147 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043281472023-03-31043281472024-03-31043281472023-04-012024-03-31043281472022-03-31043281472022-04-012023-03-31043281472023-03-3104328147ns15:EnglandWales2023-04-012024-03-3104328147ns14:PoundSterling2023-04-012024-03-3104328147ns10:Director12023-04-012024-03-3104328147ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104328147ns10:SmallEntities2023-04-012024-03-3104328147ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104328147ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104328147ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104328147ns10:FullAccounts2023-04-012024-03-310432814712023-04-012024-03-3104328147ns10:Director22023-04-012024-03-3104328147ns10:CompanySecretary12023-04-012024-03-3104328147ns10:RegisteredOffice2023-04-012024-03-3104328147ns5:CurrentFinancialInstruments2024-03-3104328147ns5:CurrentFinancialInstruments2023-03-3104328147ns5:Non-currentFinancialInstruments2024-03-3104328147ns5:Non-currentFinancialInstruments2023-03-3104328147ns5:ShareCapital2024-03-3104328147ns5:ShareCapital2023-03-3104328147ns5:RetainedEarningsAccumulatedLosses2024-03-3104328147ns5:RetainedEarningsAccumulatedLosses2023-03-3104328147ns5:NetGoodwill2023-04-012024-03-3104328147ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104328147ns5:NetGoodwill2023-03-3104328147ns5:IntangibleAssetsOtherThanGoodwill2023-03-3104328147ns5:NetGoodwill2024-03-3104328147ns5:IntangibleAssetsOtherThanGoodwill2024-03-3104328147ns5:NetGoodwill2023-03-3104328147ns5:IntangibleAssetsOtherThanGoodwill2023-03-3104328147ns5:CostValuation2023-03-3104328147ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104328147ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 04328147 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRECISION HEALTHCARE LIMITED

PRECISION HEALTHCARE LIMITED (REGISTERED NUMBER: 04328147)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRECISION HEALTHCARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M Caldwell-Nichols BSC
Dr G B Trepp PhD





SECRETARY: Mrs Y Li





REGISTERED OFFICE: 89 High Street
Hadleigh
Ipswich
Suffolk
IP7 5EA





BUSINESS ADDRESS: Precision House
Lamdin Road
Bury St Edmunds
Suffolk
IP32 6NU





REGISTERED NUMBER: 04328147 (England and Wales)





ACCOUNTANTS: Walter Wright
Chartered Accountants
89 High Street
Hadleigh
Ipswich
Suffolk
IP7 5EA

PRECISION HEALTHCARE LIMITED (REGISTERED NUMBER: 04328147)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 437,257 442,589
Investments 5 85 85
437,342 442,674

CURRENT ASSETS
Stocks 197,018 365,145
Debtors 6 276,204 236,269
Cash at bank and in hand 78,887 82,608
552,109 684,022
CREDITORS
Amounts falling due within one year 7 126,298 138,007
NET CURRENT ASSETS 425,811 546,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

863,153

988,689

CREDITORS
Amounts falling due after more than one
year

8

1,751,150

1,857,071
NET LIABILITIES (887,997 ) (868,382 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (888,097 ) (868,482 )
SHAREHOLDERS' FUNDS (887,997 ) (868,382 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PRECISION HEALTHCARE LIMITED (REGISTERED NUMBER: 04328147)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2024 and were signed on its behalf by:





Dr G B Trepp PhD - Director


PRECISION HEALTHCARE LIMITED (REGISTERED NUMBER: 04328147)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Precision Healthcare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Precision Healthcare Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the sales of goods and services, is recognised on dispatch of the goods or provision of the service and excludes value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses is written off over its useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks and product intangibles are being amortised evenly over their estimated useful life of one hundred years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PRECISION HEALTHCARE LIMITED (REGISTERED NUMBER: 04328147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
The accounts have been prepared on the going concern basis, on the basis of continued support in the form of loans from a related company and individuals and future sources of finance that are expected to be obtained. The directors are therefore confident that the company has sufficient facilities to continue trading for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 11,979 459,688 471,667
AMORTISATION
At 1 April 2023 11,979 17,099 29,078
Charge for year - 5,332 5,332
At 31 March 2024 11,979 22,431 34,410
NET BOOK VALUE
At 31 March 2024 - 437,257 437,257
At 31 March 2023 - 442,589 442,589

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 85
NET BOOK VALUE
At 31 March 2024 85
At 31 March 2023 85

PRECISION HEALTHCARE LIMITED (REGISTERED NUMBER: 04328147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 246,865 218,264
Amounts owed by group undertakings 22,837 15,904
Other debtors 6,502 2,101
276,204 236,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 69,709 63,505
Taxation and social security 13,883 12,874
Other creditors 32,706 51,628
126,298 138,007

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 21,569 31,038
Other creditors 1,729,581 1,826,033
1,751,150 1,857,071