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REGISTERED NUMBER: 09006078 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

ION AMBULANCE CARE LTD

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 APRIL 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 168,000 -
Property, plant and equipment 5 2,864,380 1,646,429
3,032,380 1,646,429

CURRENT ASSETS
Inventories 62,500 3,626
Debtors 6 1,281,163 1,145,405
Cash at bank and in hand 1,021 54,337
1,344,684 1,203,368
CREDITORS
Amounts falling due within one year 7 1,778,222 1,539,320
NET CURRENT LIABILITIES (433,538 ) (335,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,598,842

1,310,477

CREDITORS
Amounts falling due after more than one
year

8

(1,966,501

)

(948,451

)

PROVISIONS FOR LIABILITIES 11 (344,653 ) (305,996 )
NET ASSETS 287,688 56,030

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 287,588 55,930
287,688 56,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


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 29 August 2024 and were signed on its behalf by:





Mr D Kasinos - Director


ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 APRIL 2023

1. STATUTORY INFORMATION

Ion Ambulance Care Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09006078

Registered office: Unit 2230 Kettering Parkway
Kettering Venture Park
Kettering
NN15 6XR

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 Ion Ambulance Care Ltd 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.

Significant judgements and estimates
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 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 significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable for services provided in the normal course of business excluding discounts, rebates, value added tax and other sales related items.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue is recognised when services are rendered to the customers.

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.

Computer software is being amortised annual instalments over its estimated economic life of 5 years.

The company has adopted the policy of not to amortise the asset in the year of purchase, however full amortisation will be provided in the year of disposal.

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 APRIL 2023

2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short leasehold - 25% on cost
Plant and machinery - 50% on cost
Computer equipment - 50% on cost
Fixtures and fittings - 50% on cost
Motor vehicle - 25% on cost


The company has adopted the policy of not to depreciate the computer equipment in the year of purchase, however full depreciation will be provided in the year of disposal.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 APRIL 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Invoice discounting debts
The company has all of its sales invoices subjected to invoice factoring. The company's invoice factoring arrangements can neither be called as derecognition nor linked presentation. Hence a separate presentation has been adopted whereby gross debts are shown as an asset on the balance sheet and proceeds from the invoice factoring facility are included within creditors as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 156 (2022 - 102 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 168,000
At 30 April 2023 168,000
NET BOOK VALUE
At 30 April 2023 168,000

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 May 2022 42,286 476,623 4,695
Additions - 175,179 -
At 30 April 2023 42,286 651,802 4,695
DEPRECIATION
At 1 May 2022 35,254 383,555 4,651
Charge for year 3,825 87,915 44
At 30 April 2023 39,079 471,470 4,695
NET BOOK VALUE
At 30 April 2023 3,207 180,332 -
At 30 April 2022 7,032 93,068 44

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 APRIL 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 3,016,448 3,167 3,543,219
Additions 1,355,782 82,116 1,613,077
At 30 April 2023 4,372,230 85,283 5,156,296
DEPRECIATION
At 1 May 2022 1,470,386 2,944 1,896,790
Charge for year 303,119 223 395,126
At 30 April 2023 1,773,505 3,167 2,291,916
NET BOOK VALUE
At 30 April 2023 2,598,725 82,116 2,864,380
At 30 April 2022 1,546,062 223 1,646,429

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2022 3,016,448
Additions 1,355,782
At 30 April 2023 4,372,230
DEPRECIATION
At 1 May 2022 1,470,386
Charge for year 303,119
At 30 April 2023 1,773,505
NET BOOK VALUE
At 30 April 2023 2,598,725
At 30 April 2022 1,546,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 949,949 646,387
Amounts owed by group undertakings 21,043 212,920
Other debtors 310,171 286,098
1,281,163 1,145,405

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 APRIL 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 93,380 20,047
Hire purchase contracts (see note 9) 202,165 521,768
Trade creditors 372,650 179,883
Taxation and social security 324,989 214,418
Other creditors 785,038 603,204
1,778,222 1,539,320

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 42,675 56,042
Hire purchase contracts (see note 9) 1,923,826 892,409
1,966,501 948,451

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
as restated
£    £   
Net obligations repayable:
Within one year 202,165 521,768
Between one and five years 1,923,826 892,409
2,125,991 1,414,177

Non-cancellable operating leases
2023 2022
as restated
£    £   
Within one year 100,000 100,000
Between one and five years 300,000 400,000
400,000 500,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Leases 174,360 349,345
Factoring 668,526 419,349
842,886 768,694

Loan is secured by way of fixed and floating charge on the assets of the company and contains a negative pledge.

ION AMBULANCE CARE LTD (REGISTERED NUMBER: 09006078)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 APRIL 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
as restated
£    £   
Deferred tax
Accelerated capital allowances 344,653 305,996

Deferred
tax
£   
Balance at 1 May 2022 305,996
Provided during year 38,657
Balance at 30 April 2023 344,653

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.