Celsus Group Limited 09266684 false 2023-01-01 2023-12-31 2023-12-31 2023-12-31 The principal activity of the company is that of a head office function. The company provides central administrative services and access to its assets to its subsidiaries including inter alia: access to its database of customers and clients; access to all other technical and physical infrastructure (offices, telecoms, websites etc); provision of employees. This in turn allows the Group subsidiaries to carry out the principal activity of the group which is the provision of: medical services; managed services; staffing; and, consultancy and training services Digita Accounts Production Advanced 6.30.9574.0 true true true true false false false false false 09266684 2023-01-01 2023-12-31 09266684 2023-12-31 09266684 bus:Director10 bus:Consolidated 2023-12-31 09266684 bus:OrdinaryShareClass1 bus:Consolidated 2023-12-31 09266684 bus:OrdinaryShareClass2 bus:Consolidated 2023-12-31 09266684 bus:OrdinaryShareClass3 bus:Consolidated 2023-12-31 09266684 bus:OrdinaryShareClass4 bus:Consolidated 2023-12-31 09266684 bus:OrdinaryShareClass5 bus:Consolidated 2023-12-31 09266684 bus:Consolidated 2023-12-31 09266684 core:AmortisationDeferredTax 2023-12-31 09266684 core:AmortisationDeferredTax bus:Consolidated 2023-12-31 09266684 core:FurtherSpecificReserve1ComponentTotalEquity bus:Consolidated 2023-12-31 09266684 core:OtherReservesSubtotal bus:Consolidated 2023-12-31 09266684 core:RetainedEarningsAccumulatedLosses 2023-12-31 09266684 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2023-12-31 09266684 core:ShareCapital 2023-12-31 09266684 core:ShareCapital bus:Consolidated 2023-12-31 09266684 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2023-12-31 09266684 core:CurrentFinancialInstruments 2023-12-31 09266684 core:CurrentFinancialInstruments bus:Consolidated 2023-12-31 09266684 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09266684 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2023-12-31 09266684 core:Goodwill bus:Consolidated 2023-12-31 09266684 core:BetweenTwoFiveYears 2023-12-31 09266684 core:BetweenTwoFiveYears bus:Consolidated 2023-12-31 09266684 core:WithinOneYear 2023-12-31 09266684 core:WithinOneYear bus:Consolidated 2023-12-31 09266684 core:FurnitureFittingsToolsEquipment 2023-12-31 09266684 core:FurnitureFittingsToolsEquipment bus:Consolidated 2023-12-31 09266684 core:LandBuildings 2023-12-31 09266684 core:LandBuildings bus:Consolidated 2023-12-31 09266684 core:DeferredTaxation bus:Consolidated 2023-12-31 09266684 core:OtherProvisionsContingentLiabilities bus:Consolidated 2023-12-31 09266684 bus:FRS102 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Audited bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:FullAccounts bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:RegisteredOffice bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Director10 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Director11 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Director4 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Director6 2023-01-01 2023-12-31 09266684 bus:Director6 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Director7 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:OrdinaryShareClass1 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:OrdinaryShareClass2 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:OrdinaryShareClass3 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:OrdinaryShareClass4 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:OrdinaryShareClass5 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:PrivateLimitedCompanyLtd bus:Consolidated 2023-01-01 2023-12-31 09266684 bus:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 09266684 core:FurtherSpecificReserve1ComponentTotalEquity bus:Consolidated 2023-01-01 2023-12-31 09266684 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2023-01-01 2023-12-31 09266684 core:ShareCapital bus:Consolidated 2023-01-01 2023-12-31 09266684 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2023-01-01 2023-12-31 09266684 core:Goodwill bus:Consolidated 2023-01-01 2023-12-31 09266684 core:LandBuildingsUnderOperatingLeases bus:Consolidated 2023-01-01 2023-12-31 09266684 core:PlantEquipmentOtherAssetsUnderOperatingLeases bus:Consolidated 2023-01-01 2023-12-31 09266684 core:ComputerEquipment bus:Consolidated 2023-01-01 2023-12-31 09266684 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09266684 core:FurnitureFittingsToolsEquipment bus:Consolidated 2023-01-01 2023-12-31 09266684 core:LandBuildings 2023-01-01 2023-12-31 09266684 core:LandBuildings bus:Consolidated 2023-01-01 2023-12-31 09266684 core:LeaseholdImprovements bus:Consolidated 2023-01-01 2023-12-31 09266684 core:DeferredTaxation bus:Consolidated 2023-01-01 2023-12-31 09266684 core:OtherProvisionsContingentLiabilities bus:Consolidated 2023-01-01 2023-12-31 09266684 core:Subsidiary1 2023-01-01 2023-12-31 09266684 core:Subsidiary1 countries:AllCountries 2023-01-01 2023-12-31 09266684 core:Subsidiary2 2023-01-01 2023-12-31 09266684 core:Subsidiary2 countries:AllCountries 2023-01-01 2023-12-31 09266684 core:Subsidiary3 2023-01-01 2023-12-31 09266684 core:Subsidiary3 countries:AllCountries 2023-01-01 2023-12-31 09266684 core:Subsidiary4 2023-01-01 2023-12-31 09266684 core:Subsidiary4 countries:AllCountries 2023-01-01 2023-12-31 09266684 core:UKTax bus:Consolidated 2023-01-01 2023-12-31 09266684 countries:EnglandWales bus:Consolidated 2023-01-01 2023-12-31 09266684 2022-12-31 09266684 bus:Consolidated 2022-12-31 09266684 core:FurtherSpecificReserve1ComponentTotalEquity bus:Consolidated 2022-12-31 09266684 core:RetainedEarningsAccumulatedLosses 2022-12-31 09266684 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2022-12-31 09266684 core:ShareCapital 2022-12-31 09266684 core:ShareCapital bus:Consolidated 2022-12-31 09266684 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2022-12-31 09266684 core:Goodwill bus:Consolidated 2022-12-31 09266684 core:FurnitureFittingsToolsEquipment 2022-12-31 09266684 core:FurnitureFittingsToolsEquipment bus:Consolidated 2022-12-31 09266684 core:LandBuildings 2022-12-31 09266684 core:LandBuildings bus:Consolidated 2022-12-31 09266684 core:DeferredTaxation bus:Consolidated 2022-12-31 09266684 core:OtherProvisionsContingentLiabilities bus:Consolidated 2022-12-31 09266684 2022-01-01 2022-12-31 09266684 2022-12-31 09266684 bus:OrdinaryShareClass1 bus:Consolidated 2022-12-31 09266684 bus:OrdinaryShareClass2 bus:Consolidated 2022-12-31 09266684 bus:OrdinaryShareClass3 bus:Consolidated 2022-12-31 09266684 bus:OrdinaryShareClass4 bus:Consolidated 2022-12-31 09266684 bus:OrdinaryShareClass5 bus:Consolidated 2022-12-31 09266684 bus:Consolidated 2022-12-31 09266684 core:AmortisationDeferredTax 2022-12-31 09266684 core:AmortisationDeferredTax bus:Consolidated 2022-12-31 09266684 core:FurtherSpecificReserve1ComponentTotalEquity bus:Consolidated 2022-12-31 09266684 core:OtherReservesSubtotal bus:Consolidated 2022-12-31 09266684 core:RetainedEarningsAccumulatedLosses 2022-12-31 09266684 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2022-12-31 09266684 core:ShareCapital 2022-12-31 09266684 core:ShareCapital bus:Consolidated 2022-12-31 09266684 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2022-12-31 09266684 core:CurrentFinancialInstruments 2022-12-31 09266684 core:CurrentFinancialInstruments bus:Consolidated 2022-12-31 09266684 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09266684 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2022-12-31 09266684 core:Goodwill bus:Consolidated 2022-12-31 09266684 core:CostValuation 2022-12-31 09266684 core:BetweenTwoFiveYears 2022-12-31 09266684 core:BetweenTwoFiveYears bus:Consolidated 2022-12-31 09266684 core:WithinOneYear 2022-12-31 09266684 core:WithinOneYear bus:Consolidated 2022-12-31 09266684 core:FurnitureFittingsToolsEquipment 2022-12-31 09266684 core:FurnitureFittingsToolsEquipment bus:Consolidated 2022-12-31 09266684 core:LandBuildings 2022-12-31 09266684 core:LandBuildings bus:Consolidated 2022-12-31 09266684 bus:Consolidated 2022-01-01 2022-12-31 09266684 core:FurtherSpecificReserve1ComponentTotalEquity bus:Consolidated 2022-01-01 2022-12-31 09266684 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2022-01-01 2022-12-31 09266684 core:ShareCapital bus:Consolidated 2022-01-01 2022-12-31 09266684 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2022-01-01 2022-12-31 09266684 core:LandBuildingsUnderOperatingLeases bus:Consolidated 2022-01-01 2022-12-31 09266684 core:PlantEquipmentOtherAssetsUnderOperatingLeases bus:Consolidated 2022-01-01 2022-12-31 09266684 core:Subsidiary1 2022-01-01 2022-12-31 09266684 core:Subsidiary2 2022-01-01 2022-12-31 09266684 core:Subsidiary3 2022-01-01 2022-12-31 09266684 core:Subsidiary4 2022-01-01 2022-12-31 09266684 core:UKTax bus:Consolidated 2022-01-01 2022-12-31 09266684 2021-12-31 09266684 core:FurtherSpecificReserve1ComponentTotalEquity bus:Consolidated 2021-12-31 09266684 core:RetainedEarningsAccumulatedLosses 2021-12-31 09266684 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2021-12-31 09266684 core:ShareCapital 2021-12-31 09266684 core:ShareCapital bus:Consolidated 2021-12-31 09266684 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09266684

Celsus Group Limited

Annual Report and Consolidated Financial Statements

for the Year Ended 31 December 2023

 

Celsus Group Limited

Contents

Company Information

1

Directors' Report

2

Strategic Report

3 to 4

Statement of Directors' Responsibilities

5

Independent Auditor's Report

6 to 8

Consolidated Profit and Loss Account

9

Consolidated Balance Sheet

10

Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14 to 25

 

Celsus Group Limited

Company Information

Directors

T G Eyles

R B Sanders

L G Tamberlin

J Stevenson

Registered office

400 Capability Green Suite B
Floor 2
Luton
LU1 3LU

Auditors

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Celsus Group Limited

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

T G Eyles

R B Sanders

L G Tamberlin

D M Weitzmann (resigned 28 February 2023)

J Stevenson

Disclosure of information to the auditor

Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to continue in office.

Approved by the Board on 29 August 2024 and signed on its behalf by:


R B Sanders
Director

 

Celsus Group Limited

Strategic Report for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

Principal activity

The principal activity of the group is that of a head office function. The company provides central administrative services and access to its assets to its subsidiaries including inter alia: access to its database of customers and clients; access to all other technical and physical infrastructure (offices, telecoms, websites etc); provision of employees. This in turn allows the Group subsidiaries to carry out the principal activity of the group which is the provision of: medical services; managed services; staffing; and, consultancy and training services

Fair review of the business

Celsus Group’s (www.celsusgroup.co.uk) and its subsidiaries’ principal activity is the provision of medical services, managed services and consultancy and training to deliver efficiencies and better clinical outcomes for customers in a range of primary and secondary healthcare settings. The Group’s highly experienced and qualified medical practitioners provide services in healthcare settings including general practices, care homes, NHS hospitals, remote telemedicine and local authorities. Our geographic footprint encompasses the entire United Kingdom which ensures that we are able to provide timely and effective support to our clients.

During the year ending December 2023 the group’s annual turnover decreased 24.4% from £58,255,407 to £44,021,324 (December 2022 - increase 5.8%). In the year there were unusual pressures on GP surgeries due to the challenging inflation see in the United Kingdom coupled with NHS COVID-19 funding coming to an end. Gross profit decreased to £8,064,032 (December 2022 - £10,412,938). Administration expenses decreased 17% from £8,276,558 to £6,946,018 as a result of cost reduction measures. Profit before taxation decreased 118% from a profit of £1,242,932 to a loss of £222,421.

During 2023, the group’s cash position decreased from £253,537 to £225,806. This decrease was due to down lower trading. Trade creditors increased from £697,052 to £1,028,948 due to agreed deferment of payments. Debtors decreased from £4,539,176 to £2,700,247 due to lower business during the year. The Directors consider the results for the year and the financial position of the group at the year-end to be satisfactory.


Key performance indicators
The group uses a number of indicators to monitor and improve the development, performance and the position of the business. Indicators are reviewed and altered to meet changes in both the internal and external environments. The Directors do not consider the inclusion of an analysis using key performance indicators to be necessary to assist users of the financial statements in their understanding of the financial performance or position of the group.

Principal risks and uncertainties

As is common across all businesses, the group is exposed to a degree of risk and uncertainty. The Directors consider the key business risks and uncertainties affecting the group to be: 1) competition from both national and local providers of similar services; 2) availability of labour in the local area and 3) availability of medical practitioners to deliver medical services. Other risks and uncertainties are considered immaterial.

 

Celsus Group Limited

Strategic Report for the Year Ended 31 December 2023

Financial instruments

Objectives and policies

The directors constantly monitor the group's trading results and revise projections as appropriate to ensure that the group can meet its future obligations as they fall due.

Price risk, credit risk, liquidity risk and cash flow risk

The group is exposed to the usual credit and cash flow risks associated with selling on credit and manage this through credit control procedures.

Future developments

The group plans to continue with its strategy of undertaking it's primary trade, as noted in the principal activity note.

Approved by the Board on 29 August 2024 and signed on its behalf by:


R B Sanders
Director

 

Celsus Group Limited

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report, Strategic Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Celsus Group Limited

Independent Auditor's Report to the Members of Celsus Group Limited

Opinion

We have audited the financial statements of Celsus Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2023 and of the group's loss for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

the parent company financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

 

Celsus Group Limited

Independent Auditor's Report to the Members of Celsus Group Limited

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group’s and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the nature of the group’s industry and its control environment and reviewed the groups’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the group operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;

enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

 

Celsus Group Limited

Independent Auditor's Report to the Members of Celsus Group Limited

reading minutes of meetings of those charged with governance.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.





Martin Howard (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Windsor House
Bayshill Road
Cheltenham
GL50 3AT

29 August 2024

 

Celsus Group Limited

Consolidated Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
 £

2022
 £

Turnover

3

44,021,324

58,255,407

Cost of sales

 

(35,957,292)

(47,842,469)

Gross profit

 

8,064,032

10,412,938

Administrative expenses (excluding depreciation, amortisation and exceptional items)

 

(6,946,018)

(8,418,280)

Earnings before interest, tax, depreciation and amortisation

 

1,118,014

1,994,658

Depreciation

 

(111,027)

(98,430)

Amortisation

 

(19,718)

(19,718)

Exceptional items

4

(698,914)

(248,945)

Operating profit

5

288,355

1,627,565

Other interest receivable and similar income

6

6

52

Interest payable and similar charges

7

(510,782)

(384,685)

(Loss)/profit before tax

 

(222,421)

1,242,932

Taxation

10

9,376

(195,174)

(Loss)/profit for the financial year

 

(213,045)

1,047,758

The above results were derived from continuing operations.

The group has no other comprehensive income for the year.

 

Celsus Group Limited

(Registration number: 09266684)
Consolidated Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Fixed assets

 

Intangible assets

11

92,161

111,879

Tangible assets

12

157,030

271,295

 

249,191

383,174

Current assets

 

Debtors: Amounts falling due within one year

14

8,346,422

12,399,467

Cash at bank and in hand

 

225,806

253,537

 

8,572,228

12,653,004

Creditors: Amounts falling due within one year

15

(5,365,487)

(9,391,231)

Net current assets

 

3,206,741

3,261,773

Total assets less current liabilities

 

3,455,932

3,644,947

Provisions for liabilities

20, 10

(41,067)

(17,037)

Net assets

 

3,414,865

3,627,910

Capital and reserves

 

Called up share capital

17

400

400

Other reserves

18

(396)

(396)

Retained earnings

 

3,414,861

3,627,906

Total equity

 

3,414,865

3,627,910

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

R B Sanders
Director

 

Celsus Group Limited

(Registration number: 09266684)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

12

155,604

249,622

Investments

13

148,108

148,108

 

303,712

397,730

Current assets

 

Debtors

14

4,907,356

4,362,629

Cash at bank and in hand

 

75,537

26,805

 

4,982,893

4,389,434

Creditors: Amounts falling due within one year

15

(6,746,629)

(4,561,055)

Net current liabilities

 

(1,763,736)

(171,621)

Total assets less current liabilities

 

(1,460,024)

226,109

Provisions for liabilities

10

(11,835)

(11,835)

Net (liabilities)/assets

 

(1,471,859)

214,274

Capital and reserves

 

Called up share capital

17

400

400

Retained earnings

(1,472,259)

213,874

Total equity

 

(1,471,859)

214,274

The company made a loss after tax for the financial year of £1,686,133 (2022 - profit of £1,180,756).

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

R B Sanders
Director

 

Celsus Group Limited

Consolidated Statement of Changes in Equity for the Year Ended 31 December 2023
Equity attributable to the parent company

Share capital
£

Merger reserves
£

Retained earnings
£

Total
£

At 1 January 2023

400

(396)

3,627,906

3,627,910

Loss for the year

-

-

(213,045)

(213,045)

At 31 December 2023

400

(396)

3,414,861

3,414,865

Share capital
£

Merger reserves
£

Retained earnings
£

Total
£

At 1 January 2021

400

(396)

2,580,148

2,580,152

Profit for the year

-

-

1,047,758

1,047,758

At 31 December 2022

400

(396)

3,627,906

3,627,910

 

Celsus Group Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

400

213,874

214,274

Loss for the year

-

(1,686,133)

(1,686,133)

At 31 December 2023

400

(1,472,259)

(1,471,859)

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

400

(966,882)

(966,482)

Profit for the year

-

1,180,756

1,180,756

At 31 December 2022

400

213,874

214,274

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
400 Capability Green Suite B
Floor 2
Luton
LU1 3LU

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Summary of disclosure exemptions

The group has not presented a cash flow statement on the grounds that it is a wholly owned group and a group cash flow statement is included in the financial statements of the parent company.

Basis of consolidation

The consolidated profit and loss accounts and balance sheet include the financial statements of the company and its subsidiary undertaking made up to 31 December 2023. Intra-group sales and profits are eliminated fully on consolidation.

The directors consider that the share for share exchange qualifies as a group reconstruction under section 611 of the Companies Act 2006, and have therefore prepared these consolidated financial statements using the merger accounting method. As such the results reported in these financial statements under the prior year column represent the results of Celsus Group Limited and its subsidiaries for the year ended 31 December 2023.

As permitted by section 408 of the Companies Act 2006, the parent company's statement of comprehensive income has not been included in these financial statements. The group profit includes a loss of £1,686,133 (2022 - profit of £1,180,756) dealt with in the profit and loss account of the parent company.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the group and company has adequate resources to continue in operational existence for the foreseeable future. The group and company therefore continues to adopt the going concern basis in preparing its financial statements.

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The group recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the group's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Computer equipment

33% straight line

Leasehold improvements

33% straight line

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issues, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are changed as interest expenses in the profit and loss accounts.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units (CGU) of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

3

Turnover

The total turnover of the group has been derived from its principal activity wholly undertaken in the United Kingdom.

 

4

Exceptional items

2023
 £

2022
 £

Exceptional administrative expenses

698,914

248,945

Exceptional items incurred in the current year related to non-recurring expenses for project costs, dilapidation costs, staff costs and an onerous provision.

Exceptional items incurred in the prior year related to non-recurring expenses for legal and professional fees, staff costs and software costs.

 

5

Operating profit

Arrived at after charging:

2023
 £

2022
 £

Depreciation expense

111,027

98,430

Amortisation expense

19,718

19,718

Operating lease expense - property

170,114

210,658

Operating lease expense - other

400

544

Loss on disposal of property, plant and equipment

15,157

-

 

6

Other interest receivable and similar income

2023
£

2022
£

Interest income on bank deposits

6

52

 

7

Interest payable and similar charges

2023
£

2022
£

Interest on bank overdrafts and borrowings

473,313

384,685

Interest expense on other finance liabilities

37,469

-

510,782

384,685

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

8

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2023
 £

2022
 £

Wages and salaries

27,779,007

32,958,830

Social security costs

397,507

571,340

Pension costs, defined contribution scheme

49,148

75,450

28,225,662

33,605,620

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Sales and administration

84

95

Company
The aggregate payroll costs (including directors' remuneration) were as follows:

2023
 £

2022
 £

Wages and salaries

3,016,700

3,717,761

Social security costs

328,756

455,490

Pension costs, defined contribution scheme

41,743

60,183

3,387,199

4,233,434

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Sales and administration

65

65

 

9

Auditors' remuneration

2023
 £

2022
 £

Audit of the financial statements

16,500

17,000

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

10

Taxation

Tax charged in the profit and loss account

2023
 £

2022
 £

Current taxation

UK corporation tax

-

195,174

UK corporation tax adjustment to prior periods

(8,082)

-

(8,082)

195,174

Deferred taxation

Arising from origination and reversal of timing differences

(1,294)

-

Tax (receipt)/expense in the income statement

(9,376)

195,174

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2022 - higher than the standard rate of corporation tax in the UK) of 23.5% (2022 - 19%).

The differences are reconciled below:

2023
 £

2022
 £

(Loss)/profit before tax

(222,421)

1,242,932

Corporation tax at standard rate

(52,269)

236,157

Effect of expense not deductible in determining taxable profit (tax loss)

70,739

35,018

Increase (decrease) in UK and foreign current tax from unrecognised temporary difference from a prior period

(1,294)

-

Tax decrease from effect of capital allowances and depreciation

31,115

2,083

Tax increase (decrease) from effect of unrelieved tax losses carried forward

50,536

-

Tax increase (decrease) arising from group relief

(108,203)

(78,084)

Total tax (credit)/charge

(9,376)

195,174

Deferred tax

Group

Deferred tax liabilities

2023

Liability
£

Difference between accumulated depreciation and amortisation and capital allowances

15,743

15,743

2022

Liability
£

Difference between accumulated depreciation and amortisation and capital allowances

17,037

17,037

Company

Deferred tax assets and liabilities

2023

Liability
£

Difference between accumulated depreciation and amortisation and capital allowances

11,835

11,835

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

2022

Liability
£

Difference between accumulated depreciation and amortisation and capital allowances

11,835

11,835

 

11

Intangible assets

Group

Goodwill
 £

Cost

At 1 January 2023 and at 31 December 2023

197,179

Amortisation

At 1 January 2023

85,300

Amortisation charge

19,718

At 31 December 2023

105,018

Carrying amount

At 31 December 2023

92,161

At 31 December 2022

111,879

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

12

Tangible assets

Group

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 January 2023

123,190

603,312

726,502

Additions

3,466

8,455

11,921

Disposals

-

(212,224)

(212,224)

At 31 December 2023

126,656

399,543

526,199

Depreciation

At 1 January 2023

20,822

434,385

455,207

Charge for the year

41,930

69,097

111,027

Eliminated on disposal

-

(197,065)

(197,065)

At 31 December 2023

62,752

306,417

369,169

Carrying amount

At 31 December 2023

63,904

93,126

157,030

At 31 December 2022

102,368

168,927

271,295

Included within the net book value of land and buildings above is £63,904 (2022 - £102,368) in respect of leasehold land and buildings.
 

Company

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 January 2023

123,190

305,622

428,812

Additions

3,466

8,455

11,921

Disposals

-

(144,877)

(144,877)

At 31 December 2023

126,656

169,200

295,856

Depreciation

At 1 January 2023

20,822

158,368

179,190

Charge for the year

41,930

63,921

105,851

Eliminated on disposal

-

(144,789)

(144,789)

At 31 December 2023

62,752

77,500

140,252

Carrying amount

At 31 December 2023

63,904

91,700

155,604

At 31 December 2022

102,368

147,254

249,622

Included within the net book value of land and buildings above is £63,904 (2022 - £102,368) in respect of leasehold land and buildings.
 

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

13

Investments

Company

2023
£

2022
£

Investments in subsidiaries

148,108

148,108

Subsidiaries

£

Cost and carrying amount

At 1 January 2023 and at 31 December 2023

148,108


 

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Medical Staffing Limited

Ordinary

100%

100%

 

United Kingdom

     

Key Medical Services Limited

Ordinary

100%

100%

 

United Kingdom

     

TNA Medical Limited

Ordinary

100%

100%

 

United Kingdom

     

111 Lifeline Limited

Ordinary

100%

100%

 

United Kingdom

     

The principal activity of the companies within the group are that of staffing, medical services, managed services, consultancy and training.

All companies have the same registered office as Celsus Group Limited.

 

14

Debtors

 

Group

Company

2023
 £

2022
 £

2023
 £

2022
 £

Trade debtors

2,700,247

4,539,176

-

-

Amounts owed by group undertakings

4,668,324

5,970,924

4,347,864

3,732,009

Other debtors

770,848

1,693,299

340,429

435,123

Prepayments

207,003

196,068

219,063

195,497

 

8,346,422

12,399,467

4,907,356

4,362,629

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

15

Creditors

   

Group

Company

Note

2023
 £

2022
 £

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

16

2,263,239

4,033,805

-

171,186

Trade creditors

 

1,028,948

697,052

697,303

336,011

Amounts due to group undertakings

 

341,770

2,034,834

5,491,139

3,474,752

Social security and other taxes

 

846,698

875,516

304,630

106,069

Outstanding defined contribution pension costs

 

12,070

13,146

11,248

11,655

Other creditors

 

119,755

32,658

-

3

Accrued expenses

 

595,866

1,531,278

242,309

461,379

Corporation tax liability

 

157,141

172,942

-

-

 

5,365,487

9,391,231

6,746,629

4,561,055

 

16

Loans and borrowings

 

Group

Company

2023
£

2022
£

2023
£

2022
£

Current loans and borrowings

Invoice discounting arrangements

2,263,239

4,033,805

-

171,186

 

17

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £0.02 each

8,998

180

8,998

180

Ordinary B shares of £0.02 each

2

-

2

-

Ordinary C shares of £0.02 each

1,000

20

1,000

20

Ordinary D shares of £0.02 each

9,998

200

9,998

200

Ordinary E shares of £0.02 each

2

-

2

-

 

20,000

400

20,000

400

Rights, preferences and restrictions

Ordinary A, B, C, D and E shares have the following rights, preferences and restrictions:
Each shareholder shall have one vote on a show of hands or one vote for each share he holds in the capital of the company on a poll or written resolution. Each share within a share class shall have equal rights to dividends, equal rights to participate in a distribution or capital (including on a winding up) and are non-redeemable.

 

18

Other reserves

Due to the directors considering that a share for share exchange qualifies as a group reconstruction under section 611 of the Companies Act 2006 the merger method of accounting has been used in preparing the consolidated financial statements. As a result other reserves are the difference between the fair value of consideration given and the nominal value of the shares received in exchange with the difference being shown as a movement on other reserves in the consolidated financial statements.

 

Celsus Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

19

Obligations under leases and hire purchase contracts

Group

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

161,053

145,582

Later than one year and not later than five years

328,605

118,821

489,658

264,403

Company

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

117,853

136,903

Later than one year and not later than five years

274,989

118,821

392,842

255,724

 

20

Provisions for liabilities

Group

Deferred tax
£

Other provisions
£

Total
£

At 1 January 2023

17,037

-

17,037

Additional provisions

-

25,324

25,324

Increase (decrease) from transfers and other changes

(1,294)

-

(1,294)

At 31 December 2023

15,743

25,324

41,067

 

21

Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £49,148 (2022 - £75,450).

Contributions totalling £12,070 (2022 - £13,146) were payable to the scheme at the end of the year and are included in creditors.

 

22

Parent and ultimate parent undertaking

The company's immediate parent is Lucess Bidco Limited, incorporated in England and Wales .

 The ultimate parent is Lucess InvestCo Limited, incorporated in England and Wales.

There is considered to be no single controlling party of Lucess InvestCo Limited.