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REGISTERED NUMBER: 01563257 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Niagara Healthcare Limited

Niagara Healthcare Limited (Registered number: 01563257)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Niagara Healthcare Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs L Parry
P J Ellin





SECRETARY: D R Jones





REGISTERED OFFICE: Unit 1 Colomendy Industrial Estate
Rhyl Road
Denbigh
Denbighshire
Clwyd
LL16 5TS





REGISTERED NUMBER: 01563257 (England and Wales)





AUDITORS: JWR Audit Limited
Statutory Auditor
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Niagara Healthcare Limited (Registered number: 01563257)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7 7
Investments 5 638,684 638,784
638,691 638,791

CURRENT ASSETS
Debtors 6 1,119,168 1,080,584
Cash at bank 762,040 1,596,505
1,881,208 2,677,089
CREDITORS
Amounts falling due within one year 7 133,250 180,107
NET CURRENT ASSETS 1,747,958 2,496,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,386,649

3,135,773

CAPITAL AND RESERVES
Called up share capital 450,000 450,000
Other reserves 14,315 14,315
Retained earnings 1,922,334 2,671,458
SHAREHOLDERS' FUNDS 2,386,649 3,135,773

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 12 September 2024 and were signed on its behalf by:





P J Ellin - Director


Niagara Healthcare Limited (Registered number: 01563257)

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

1. STATUTORY INFORMATION

Niagara 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.

Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

Preparation of consolidated financial statements
The financial statements contain information about Niagara 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 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, NHC Holdings Limited, Unit 1 Colomendy Industrial Estate, Rhyl Road, Denbigh, Denbighshire, LL16 5TS.

Turnover
Turnover represents the value of goods sold to customers during the year net of discounts and value added tax. Turnover is recognised upon delivery of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

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.

Niagara Healthcare Limited (Registered number: 01563257)

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

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates several defined contribution pension schemes. The assets of these schemes are held separately from those of the company in independently administered funds.

Contributions to the schemes are charged to the profit and loss account as they become payable.

Going concern
The company's business activities, together with the factors likely to affect its future development and position, are set out in the Business Review section of the directors report in the consolidated financial statements.

The company is expected to continue to generate positive cash flows on its own accounts for the foreseeable future. The company participates in the group's centralised treasury arrangements and so shares banking arrangements with its parent and fellow subsidiaries.

The directors, having assessed the responses of the directors of the company's parent NHC Holdings Limited to their enquiries have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the NHC Holdings Limited group to continue as a going concern or its ability to continue with the current banking arrangements.

On the basis of their assessment of the company's financial position and of the enquiries made of the directors of NHC Holdings Limited, the company directors have a reasonable expectation that the company will be able to continue in the operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been used.

Warranty provisions
Provision is made for liabilities arising in respect of expected warranty claims.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Niagara Healthcare Limited (Registered number: 01563257)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 10,676 113,117 123,793
DEPRECIATION
At 1 January 2023
and 31 December 2023 10,669 113,117 123,786
NET BOOK VALUE
At 31 December 2023 7 - 7
At 31 December 2022 7 - 7

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 1,521,335
Disposals (100 )
At 31 December 2023 1,521,235
PROVISIONS
At 1 January 2023
and 31 December 2023 882,551
NET BOOK VALUE
At 31 December 2023 638,684
At 31 December 2022 638,784

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 18,844 35,872
Amounts owed by group undertakings 1,096,826 1,034,621
Other debtors 3,498 10,091
1,119,168 1,080,584

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 112,973 156,148
Other creditors 20,277 23,959
133,250 180,107

Niagara Healthcare Limited (Registered number: 01563257)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

K S Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited

9. CONTINGENT LIABILITIES

The company has given composite cross guarantees relating to the bank borrowing of certain subsidiary companies. These borrowings amounted to £nil at the year end.

10. 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.

NHC Holdings Limited, whose registered office is the same as Niagara Healthcare Limited, is the ultimate parent company and draws up consolidated group financial statements of which Niagara Healthcare Limited is a member.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors.