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Registration number: 08905357

APM Healthcare Advisory Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

APM Healthcare Advisory Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

APM Healthcare Advisory Ltd

Company Information

Directors

Mr Andrew Philip Murray

Mrs Joanna Louise Murray

Registered office

Second Floor, Unit 4
The Stables
Ford Road
Totnes
Devon
TQ9 5LE

Accountants

Redwoods
Chartered Certified Accountants
2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

APM Healthcare Advisory Ltd

(Registration number: 08905357)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

880

1,174

Current assets

 

Debtors

5

218,590

253,219

Cash at bank and in hand

 

5,963

7,763

 

224,553

260,982

Creditors: Amounts falling due within one year

6

(15,691)

(26,040)

Net current assets

 

208,862

234,942

Total assets less current liabilities

 

209,742

236,116

Creditors: Amounts falling due after more than one year

6

(7,467)

(13,867)

Provisions for liabilities

(167)

(227)

Net assets

 

202,108

222,022

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

202,107

222,021

Shareholders' funds

 

202,108

222,022

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

.........................................
Mr Andrew Philip Murray
Director

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
Second Floor, Unit 4
The Stables
Ford Road
Totnes
Devon
TQ9 5LE

These financial statements were authorised for issue by the Board on 21 August 2024.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The accounts are prepared in £ Sterling and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

In the application of the company’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Revenue recognition

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

The company 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 company's activities.

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

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

The current income 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 company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 company 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 subsequently measured at amortised cost using the effective interest method.

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other accounts receivable and payable and loans from banks/other third parties.

 Recognition and measurement
Debt instruments like loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of a non current liability not at a market rate of interest, the financial liability is measured initially and subsequently at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 April 2023

5,076

5,076

At 31 March 2024

5,076

5,076

Depreciation

At 1 April 2023

3,902

3,902

Charge for the year

294

294

At 31 March 2024

4,196

4,196

Carrying amount

At 31 March 2024

880

880

At 31 March 2023

1,174

1,174

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,300

8,700

Prepayments

376

338

Other debtors

215,914

244,181

 

218,590

253,219

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,400

6,400

Trade creditors

 

2,824

-

Taxation and social security

 

4,900

17,996

Accruals and deferred income

 

1,230

1,480

Other creditors

 

337

164

 

15,691

26,040

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

7,467

13,867

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £0.01 each

100

1

100

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,467

13,867

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,400

6,400

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr Andrew Philip Murray

During the year the company provided a loan to the director. No interest has been charged on this loan.

9,784

(9,784)

-

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mr Andrew Philip Murray

During the year the company provided a loan to the director. No interest has been charged on this loan.

-

9,784

9,784

Summary of transactions with associates

During the year the company paid £3,000 (£3,000 - 2023) to an associated company, regarding the rental of office space.
 

 

APM Healthcare Advisory Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Loans to related parties

2024

Associates
£

Total
£

At start of period

234,277

234,277

Advanced

40,000

40,000

Repaid

(74,496)

(74,496)

Interest transactions

15,973

15,973

At end of period

215,754

215,754

2023

Associates
£

Total
£

At start of period

218,728

218,728

Advanced

77,876

77,876

Repaid

(76,832)

(76,832)

Interest transactions

14,505

14,505

At end of period

234,277

234,277

Terms of loans to related parties

During the year the company provided loans to associated companies APMD Holdings Limited for which the amount owing at the year end was £9,236 (£57,171 - 2023), The Training Yard (Exeter) Ltd for which the amount owing at the year end was £131,930 (£134,230 - 2022) and Channel Island Finance Ltd for which the amount owing at the year end was £74,588 (£42,876 - 2023). Interest at 5% has been charged on the APMD Holdings Ltd loan, and interest at 8% has been charged on the Training Yard (Exeter) Ltd loan and the Channel Island Finance Ltd loan.