Company registration number 04827501 (England and Wales)
SEAGRAVE HEALTHCARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SEAGRAVE HEALTHCARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SEAGRAVE HEALTHCARE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,964
9,425
Investments
4
135,675
135,675
140,639
145,100
Current assets
Debtors
5
365,835
298,455
Cash at bank and in hand
1,421,311
1,130,542
1,787,146
1,428,997
Creditors: amounts falling due within one year
6
(289,056)
(223,537)
Net current assets
1,498,090
1,205,460
Net assets
1,638,729
1,350,560
Capital and reserves
Called up share capital
7
10,000
10,000
Profit and loss reserves
8
1,628,729
1,340,560
Total equity
1,638,729
1,350,560
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 October 2024
Professor O A D'Agnone
Director
Company Registration No. 04827501
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Seagrave Healthcare Limited is a private company limited by shares incorporated in England and Wales. The registered office is 25A Eccleston Street, Belgravia, London, United Kingdom, SW1W 9NP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for fees earned provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable only. No provision is made for deferred tax as any sum involved is not material.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 8 (2023 - 8).
2024
2023
Number
Number
Total
8
8
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
65,421
Additions
691
At 31 March 2024
66,112
Depreciation and impairment
At 1 April 2023
55,996
Depreciation charged in the year
5,152
At 31 March 2024
61,148
Carrying amount
At 31 March 2024
4,964
At 31 March 2023
9,425
4
Fixed asset investments
2024
2023
£
£
Investment in subsidiary company
135,675
135,675
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2023 & 31 March 2024
135,675
Carrying amount
At 31 March 2024
135,675
At 31 March 2023
135,675
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
23,342
27,932
Income tax on directors loan
40,134
40,134
Directors loan
285,624
215,530
Prepayments and accrued income
16,735
14,859
365,835
298,455
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
17,215
10,703
Amounts due to group undertakings
109,820
101,026
Corporation tax
151,133
99,939
Other taxation and social security
3,465
6,878
Other creditors and accruals
7,423
4,991
289,056
223,537
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
1,340,560
1,108,953
Profit for the year
448,169
391,607
Dividends
(160,000)
(160,000)
At the end of the year
1,628,729
1,340,560
9
Directors' transactions
At the year end the directors' owed the companny £285,624 (2023: £215,530). The loan was made on an interest free basis.
Dividends totalling £160,000 (2023 - £160,000) were paid in the year in respect of shares held by the company's directors.
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Directors' transactions
(Continued)
- 6 -
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors' Loan Account
-
215,530
249,350
(179,256)
285,624
215,530
249,350
(179,256)
285,624