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REGISTERED NUMBER: 12431933 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Sterling Healthcare Group Ltd

Sterling Healthcare Group Ltd (Registered number: 12431933)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sterling Healthcare Group Ltd

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Dr A Y M J Al-Memar
Dr O J F Foster





SECRETARY: Ms M Mitchell





REGISTERED OFFICE: New Malden Diagnostic Centre The Groves
171 Clarence Ave
New Malden
United Kingdom
KT3 3TX





REGISTERED NUMBER: 12431933 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Sterling Healthcare Group Ltd (Registered number: 12431933)

Balance Sheet
31st December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 58,987 79,560
Tangible assets 5 155,174 201,150
214,161 280,710

CURRENT ASSETS
Debtors 6 540,550 582,113
Cash in hand 311 69
540,861 582,182
CREDITORS
Amounts falling due within one year 7 1,675,653 1,557,516
NET CURRENT LIABILITIES (1,134,792 ) (975,334 )
TOTAL ASSETS LESS CURRENT LIABILITIES (920,631 ) (694,624 )

CREDITORS
Amounts falling due after more than one year 8 (7,104 ) (38,391 )

PROVISIONS FOR LIABILITIES (19,354 ) (20,201 )
NET LIABILITIES (947,089 ) (753,216 )

CAPITAL AND RESERVES
Called up share capital 106 106
Share premium 549,894 434,864
Retained earnings (1,497,089 ) (1,188,186 )
(947,089 ) (753,216 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Sterling Healthcare Group Ltd (Registered number: 12431933)

Balance Sheet - continued
31st December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th September 2024 and were signed on its behalf by:




Dr O J F Foster - Director



Dr A Y M J Al-Memar - Director


Sterling Healthcare Group Ltd (Registered number: 12431933)

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

1. STATUTORY INFORMATION

Sterling Healthcare Group Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company's activity is a large private outpatient and diagnostics clinic in South London, close to Wimbledon and Kingston-upon-Thames.

Services provided to patients are recognised as turnover according to the date when the treatments are provided.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Sterling Healthcare Group Ltd (Registered number: 12431933)

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

2. ACCOUNTING POLICIES - continued

Going concern
These financial statements have been prepared on the going concern basis, which presumes that the company is able to continue in operational existence for the foreseeable future. The company is reliant upon the continued support of its creditors, directors and fellow group companies. If this support was withdrawn, the company would be unable to continue in operational existence. Adjustments would then have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that may arise. The company is unable to quantify the effect of such adjustments on the financial statements.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 1 148,276 148,277
AMORTISATION
At 1st January 2023 - 68,717 68,717
Amortisation for year - 20,573 20,573
At 31st December 2023 - 89,290 89,290
NET BOOK VALUE
At 31st December 2023 1 58,986 58,987
At 31st December 2022 1 79,559 79,560

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 47,250 197,639 30,625 59,930 335,444
Additions - 14,702 720 15,475 30,897
At 31st December 2023 47,250 212,341 31,345 75,405 366,341
DEPRECIATION
At 1st January 2023 21,263 76,549 9,453 27,029 134,294
Charge for year 6,000 43,599 4,611 22,663 76,873
At 31st December 2023 27,263 120,148 14,064 49,692 211,167
NET BOOK VALUE
At 31st December 2023 19,987 92,193 17,281 25,713 155,174
At 31st December 2022 25,987 121,090 21,172 32,901 201,150

Sterling Healthcare Group Ltd (Registered number: 12431933)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 59,787 56,175 115,962
DEPRECIATION
At 1st January 2023 15,279 25,279 40,558
Charge for year 11,958 11,235 23,193
At 31st December 2023 27,237 36,514 63,751
NET BOOK VALUE
At 31st December 2023 32,550 19,661 52,211
At 31st December 2022 44,508 30,896 75,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 455,824 489,852
Other debtors 84,726 92,261
540,550 582,113

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 91,524 66,571
Finance leases 31,287 31,287
Trade creditors 789,716 601,350
Amounts owed to participating interests 105,312 99,812
Taxation and social security 44,814 100,294
Other creditors 613,000 658,202
1,675,653 1,557,516

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/12/22
£    £   
Finance leases 7,104 38,391

9. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Bank overdrafts 91,524 66,571

Lloyds Bank plc hold a fixed and floating charge over all property and undertakings of the company.

Sterling Healthcare Group Ltd (Registered number: 12431933)

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

10. OTHER FINANCIAL COMMITMENTS

The company signed a property lease agreement on 1st October 2020. That lease agreement covered the period from 1 October 2020 to 7 June 2047, with a rent of £189,688 per annum.

Total operating lease commitment as at the balance sheet date was £4,443,910.