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Registration number: 06751724

BIOHIT HEALTHCARE LIMITED

Filleted Financial Statements

for the Year Ended 31 December 2023

 

BIOHIT HEALTHCARE LIMITED

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 10

 

BIOHIT HEALTHCARE LIMITED

Company Information

Directors

Mr G Johnson

Mr Rimmer

Registered office

Pioneer House Pioneer Business Park
North Road
Ellesmere Port
Cheshire
CH65 1AD

 

Auditors

Pennington Williams Limited
Chartered Certified Accountants and Statutory Auditors
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

BIOHIT HEALTHCARE LIMITED

Directors' Report for the Year Ended 31 December 2023

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

Directors of the company

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

Mr G Johnson

Mr Rimmer (appointed 1 December 2023)

Going concern

The directors have considered the impact on trade in relation to, Brexit, and the war in Ukraine, and feel the company will continue for the foreseeable future and so continue to prepare the accounts on a going concern basis. The directors have a reasonable expectation that sales will continue, and the company has sufficient resources along with the continuing support of its parent company to be a going concern.

Disclosure of information to the auditors

Each director has taken 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 auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

Mr G Johnson
Director

 

BIOHIT HEALTHCARE LIMITED

(Registration number: 06751724)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,522

8,376

Current assets

 

Stocks

5

170,198

153,649

Debtors

6

519,921

501,621

Cash at bank and in hand

 

688,690

413,700

 

1,378,809

1,068,970

Creditors: Amounts falling due within one year

7

(539,643)

(526,666)

Net current assets

 

839,166

542,304

Total assets less current liabilities

 

846,688

550,680

Provisions for liabilities

(1,880)

(2,094)

Net assets

 

844,808

548,586

Capital and reserves

 

Called up share capital

1

1

Retained earnings

844,807

548,585

Shareholders' funds

 

844,808

548,586

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 6 August 2024 and signed on its behalf by:
 

Mr G Johnson
Director

Mr Rimmer
Director

 

BIOHIT HEALTHCARE 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 & Wales.

The address of its registered office is:
Pioneer House Pioneer Business Park
North Road
Ellesmere Port
Cheshire
CH65 1AD

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.

Going concern

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

 

BIOHIT HEALTHCARE LIMITED

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

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 12 August 2024 was Mrs Lisa Jane Bean FCCA, who signed for and on behalf of Pennington Williams Limited.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

BIOHIT HEALTHCARE LIMITED

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

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

Plant & Machinery

25% Reducing Balance

Fixtures & Fittings

25% Reducing Balance

Computer Equipment

33% Cost

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

BIOHIT HEALTHCARE LIMITED

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

 

BIOHIT HEALTHCARE LIMITED

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost

At 1 January 2023

482

34,485

31,178

66,145

Additions

-

-

2,120

2,120

Disposals

(482)

(4,260)

(26,274)

(31,016)

At 31 December 2023

-

30,225

7,024

37,249

Depreciation

At 1 January 2023

479

29,668

27,622

57,769

Charge for the year

-

1,201

1,743

2,944

Eliminated on disposal

(479)

(4,256)

(26,251)

(30,986)

At 31 December 2023

-

26,613

3,114

29,727

Carrying amount

At 31 December 2023

-

3,612

3,910

7,522

At 31 December 2022

3

4,817

3,556

8,376

5

Stocks

2023
£

2022
£

Stock

170,198

153,649

6

Debtors

Current

2023
£

2022
£

Trade debtors

489,453

484,148

Prepayments

21,302

6,307

Other debtors

9,166

11,166

 

519,921

501,621

 

BIOHIT HEALTHCARE LIMITED

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

45,739

146,549

Amounts owed to group undertakings and undertakings in which the company has a participating interest

195,948

129,285

Taxation and social security

272,673

214,397

Accruals and deferred income

22,121

33,373

Other creditors

3,162

3,062

539,643

526,666

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £23,625 (2022 - £47,520).

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Mr G Johnson

The following amounts have been advanced to the director, no interest has been charged on the outstanding balance

7,299

(2,000)

5,299

       
     

 

 

BIOHIT HEALTHCARE LIMITED

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

2022

At 1 January 2022
£

Repayments by director
£

At 31 December 2022
£

Mr G Johnson

The following amounts have been advanced to the director, no interest has been charged on the outstanding balance

8,299

(1,000)

7,299

       
     

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Biohit Oyj, incorporated in Finland.

  These financial statements are available upon request from https://investors.biohithealthcare.com/

 The ultimate controlling party is Mr O Suovaniemi.