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Registered number: 05354461









SPHERE INTEGRATED HEALTH CARE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
SPHERE INTEGRATED HEALTH CARE LIMITED
REGISTERED NUMBER: 05354461

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
10,599
17,577

  
10,599
17,577

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
44,580
40,743

Cash at bank and in hand
  
39,597
47,447

  
84,177
88,190

Creditors: amounts falling due within one year
 6 
(60,211)
(66,047)

NET CURRENT ASSETS
  
 
 
23,966
 
 
22,143

TOTAL ASSETS LESS CURRENT LIABILITIES
  
34,565
39,720

Creditors: amounts falling due after more than one year
 7 
(26,629)
(31,670)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(2,639)
(2,802)

  
 
 
(2,639)
 
 
(2,802)

NET ASSETS
  
5,297
5,248


CAPITAL AND RESERVES
  

Called up share capital 
 9 
1
1

Profit and loss account
  
5,296
5,247

  
5,297
5,248


Page 1

 
SPHERE INTEGRATED HEALTH CARE LIMITED
REGISTERED NUMBER: 05354461
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






A W Spence
Director

Date: 7 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SPHERE INTEGRATED HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

The Company is a private company limited by shares and incorporated in England and Wales. Its registered office address is Sextry House, 29a St. Mary's Street, Ely, Cambridgeshire, CB7 4HF.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

After making appropriate enquiries, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The ability of the company to continue or grow its operations from the current level is dependent on the ongoing support from the Directors. For this reason they adopt the going concern basis when preparing the financial statements. 
The financial statements do not include any adjustmenst in respect of the company not being able to continue as a going concern. 

 
2.3

TURNOVER

Turnover comprises revenue recognised by the company in respect of healthcare services supplied during the year, exclusive of Value Added Tax. Turnover is measured as the fair value of the consideration received or receivable, and is recognised in the statement of income and retained earnings in the period in which the services are supplied.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SPHERE INTEGRATED HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Equipment
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Furniture, fixtures and fittings
-
25%
reducing balance
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
SPHERE INTEGRATED HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

CURRENT AND DEFERRED TAXATION

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SPHERE INTEGRATED HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


TANGIBLE FIXED ASSETS





Equipment and computers
Motor vehicles
Furniture, fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 May 2023
20,847
34,018
5,270
60,135


Additions
261
-
-
261


Disposals
-
(8,250)
-
(8,250)



At 30 April 2024

21,108
25,768
5,270
52,146



DEPRECIATION


At 1 May 2023
18,148
20,356
4,054
42,558


Charge for the year on owned assets
762
2,881
305
3,948


Disposals
-
(4,959)
-
(4,959)



At 30 April 2024

18,910
18,278
4,359
41,547



NET BOOK VALUE



At 30 April 2024
2,198
7,490
911
10,599



At 30 April 2023
2,699
13,662
1,216
17,577


5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Other debtors
44,340
40,503

Prepayments and accrued income
240
240

44,580
40,743


Page 6

 
SPHERE INTEGRATED HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
4,828
4,595

Other loans
31,404
31,446

Trade creditors
296
527

Corporation tax
5,148
4,927

Other taxation and social security
601
817

Obligations under finance lease and hire purchase contracts
212
2,556

Other creditors
14,182
18,582

Accruals and deferred income
3,540
2,597

60,211
66,047


Bank loans represent a Government backed ‘Bounce Back Loan’ which was drawn down in May 2020.  The loan is 100% guaranteed by the government and there were no fees or interest payable in the first 12 months. After this initial 12 month period, interest is charged at a fixed rate of 2.5% per annum.
Obligations under finance lease and hire purchase contracts are secured against the assets concerned.
Other creditors include contributions of £101 (2023 - £101) payable to the Company’s defined contribution pension scheme at the balance sheet date.


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
26,629
31,457

Net obligations under finance leases and hire purchase contracts
-
213

26,629
31,670


Bank loans represent a Government backed ‘Bounce Back Loan’ which was drawn down in May 2020.  The loan is 100% guaranteed by the government and there were no fees or interest payable in the first 12 months. After this initial 12 month period, interest is charged at a fixed rate of 2.5% per annum.
Obligations under finance lease and hire purchase contracts are secured against the assets concerned.

Page 7

 
SPHERE INTEGRATED HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
(2,802)
(3,063)


Charged to profit or loss
163
261



AT END OF YEAR
(2,639)
(2,802)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
2,650
2,813

Other short term timing differences
(11)
(11)

2,639
2,802


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 Ordinary share share of £1.00
1
1


 
Page 8