IRIS Accounts Production v24.1.0.578 06816791 Board of Directors 1.10.22 30.9.23 30.9.23 true false true true false false true false Ordinary 1.00000 A Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh068167912022-09-30068167912023-09-30068167912022-10-012023-09-30068167912021-09-30068167912021-10-012022-09-30068167912022-09-3006816791ns15:EnglandWales2022-10-012023-09-3006816791ns14:PoundSterling2022-10-012023-09-3006816791ns10:Director12022-10-012023-09-3006816791ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3006816791ns10:FRS1022022-10-012023-09-3006816791ns10:Audited2022-10-012023-09-3006816791ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-10-012023-09-3006816791ns10:LargeMedium-sizedCompaniesRegimeForAccounts2022-10-012023-09-3006816791ns10:FullAccounts2022-10-012023-09-3006816791ns10:OrdinaryShareClass12022-10-012023-09-3006816791ns10:OrdinaryShareClass22022-10-012023-09-3006816791ns10:Director22022-10-012023-09-3006816791ns10:Director32022-10-012023-09-3006816791ns10:CompanySecretary12022-10-012023-09-3006816791ns10:RegisteredOffice2022-10-012023-09-3006816791ns10:Director52022-10-012023-09-3006816791ns10:Director42022-10-012023-09-3006816791ns5:CurrentFinancialInstruments2023-09-3006816791ns5:CurrentFinancialInstruments2022-09-3006816791ns5:ShareCapital2023-09-3006816791ns5:ShareCapital2022-09-3006816791ns5:RetainedEarningsAccumulatedLosses2023-09-3006816791ns5:RetainedEarningsAccumulatedLosses2022-09-3006816791ns5:ShareCapital2021-09-3006816791ns5:RetainedEarningsAccumulatedLosses2021-09-3006816791ns5:RetainedEarningsAccumulatedLosses2021-10-012022-09-3006816791ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-300681679112022-10-012023-09-300681679112021-10-012022-09-300681679122022-10-012023-09-300681679122021-10-012022-09-3006816791ns5:ComputerEquipment2022-10-012023-09-3006816791ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-10-012023-09-3006816791ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2021-10-012022-09-3006816791ns5:OwnedAssets2022-10-012023-09-3006816791ns5:OwnedAssets2021-10-012022-09-3006816791ns10:OrdinaryShareClass12021-10-012022-09-3006816791ns5:ComputerEquipment2022-09-3006816791ns5:ComputerEquipment2023-09-3006816791ns5:ComputerEquipment2022-09-3006816791ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3006816791ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3006816791ns5:CurrentFinancialInstruments2022-10-012023-09-3006816791ns5:WithinOneYear2023-09-3006816791ns5:WithinOneYear2022-09-3006816791ns5:BetweenOneFiveYears2023-09-3006816791ns5:BetweenOneFiveYears2022-09-3006816791ns5:AllPeriods2023-09-3006816791ns5:AllPeriods2022-09-3006816791ns5:Secured2023-09-3006816791ns5:Secured2022-09-3006816791ns10:OrdinaryShareClass12023-09-3006816791ns10:OrdinaryShareClass22023-09-3006816791ns5:RetainedEarningsAccumulatedLosses2022-09-30
REGISTERED NUMBER: 06816791 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 September 2023

for

Plan B Healthcare Limited

Plan B Healthcare Limited (Registered number: 06816791)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


Plan B Healthcare Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: C Coyle
N Poturicich
P Groves





SECRETARY: C Coyle





REGISTERED OFFICE: Hygeia House
66-68 College Road
Harrow
Middlesex
HA1 1BE





REGISTERED NUMBER: 06816791 (England and Wales)





AUDITORS: Evolve Accounting and Tax Solutions Limited
Statutory Auditors
2nd Floor Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN

Plan B Healthcare Limited (Registered number: 06816791)

Strategic Report
for the Year Ended 30 September 2023

The directors present their strategic report for the year ended 30 September 2023.

The Board aims to present a balanced and comprehensive review of the development and performance of the Company's business during the period and its position at the period end. The review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties that the Company faces.

PRINCIPAL ACTIVITY
The principal activity of Plan B Healthcare Limited ('the Company') during the year continued to be staff recruitment and related activities.during the year continued to be staff recruitment and related activities. The Company has built a reputation on its ability to fill critical skill gaps with experienced contractors and temporary staffing solutions within strict time frames.

REVIEW OF BUSINESS
The Board considers that Plan B Healthcare Limited has had a successful period of trading, showing an increase in turnover along with satisfactory gross profit and profitability figures.

The Board monitors the Company's performance through the use of a variety of measurements, both financial and non-financial in order to maintain effective control over the business. The most important of these are known as key performance indicators (KPIs).

The main financial KPIs that the Company monitors are turnover, gross profit and gross margin % and these are set out below.


2023 2022 2021

Turnover £6.8 million £4.2 million £3.2 million

Turnover movement £2.6 million £943,000 (£291,000 )

Gross profit margin 21.87% 21.1% 27.4%

Profit before tax 6.58% 4.1% 10.7%

The turnover of the Company increased by 64% year on year, amounting to £6,868,995 (2022: increased by 29% to £4,179,360).


Plan B Healthcare Limited (Registered number: 06816791)

Strategic Report
for the Year Ended 30 September 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The board takes a conservative approach to risk and financial stability leaving investment in the business to allow the business to expand and grow.

The Company operates on government frameworks and private agreements with clients. Failure to meet the standards set could jeopardise the revenues of the business. Compliance is high on the Company's agenda.

The Company's maximum exposure to credit risk in relation to financial assets is represented by trade and other receivables.

The Company's policy on liquidity risk is to ensure that sufficient cash is available to fund ongoing operations. The Company principally funds its operations through a combination of retained earnings and invoice finance facilities to ensure it has adequate funds to meet future working capital requirements. The invoice finance facilities provide the flexibility to support the company through any significant changes in business size if needed. The board is confident these facilities provide adequate finance for future growth.

The Company has policies in place to mitigate the potential impact of these financial risks including, but not limited to the following:

Where appropriate, credit checks are made prior to the appointment of a new customer, and these are reviewed on a periodic basis together with ongoing checks in respect of existing customers. Weekly reviews of the debtor ledger are carried out with the finance and sales teams and action initiated, as appropriate, to collect any overdue amounts, thus ensuring that the Company's strong liquidity position is sustained.

Clients remain resolute to reduce their agency spend, and these change factors represent an ongoing risk to spend on agency. However, the continuing shortage of healthcare professionals worldwide represents an increasing demand on the Company.

The company is strategically positioned to meet this challenge. The directors are confident that the continued development and growth of our workforce solutions offered by the Company will continue to meet the demands of their clients.

SECTION 172(1) STATEMENT
As a Board we take seriously our roles and responsibilities and as such we have regular monthly board meetings where we discuss all areas of the business. The Board focuses on the strategic direction of the Company in order to maximise our return on capital to ensure the long-term ability of the Company to provide the best services to our clients, maintain a well reimbursed workforce with the potential to hire extra staff if growth materialises, and support our local community by hiring locally where possible.

We review all our support functions to ensure all suppliers are paid promptly and that we get the best value for money possible. We provide temporary workers to key sectors in the economy and over the last year our supply of teachers and nurses was very key to supporting the wider community. At all times we ensure every decision made is for the greater good of all our stakeholders at various levels and try to create the very best business enterprise which delivers rewards to all involved.

ON BEHALF OF THE BOARD:





P Groves - Director


21 October 2024

Plan B Healthcare Limited (Registered number: 06816791)

Report of the Directors
for the Year Ended 30 September 2023

The directors present their report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of labour supply to the healthcare sector.

DIVIDENDS
No interim dividends were paid during the year ended 30 September 2023.

The directors recommend final dividends per share as follows:

Ordinary £1 shares £4.18
A Ordinary £1 shares NIL

The total distribution of dividends for the year ended 30 September 2023 will be £ 209,042 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.

C Coyle
N Poturicich

Other changes in directors holding office are as follows:

C Walsh - resigned 3 November 2022
P Groves - appointed 1 December 2022

Ms A Coyle ceased to be a director after 30 September 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Plan B Healthcare Limited (Registered number: 06816791)

Report of the Directors
for the Year Ended 30 September 2023


AUDITORS
The auditors, Evolve Accounting and Tax Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P Groves - Director


21 October 2024

Report of the Independent Auditors to the Members of
Plan B Healthcare Limited

Opinion
We have audited the financial statements of Plan B Healthcare Limited (the 'company') for the year ended 30 September 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Plan B Healthcare Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Plan B Healthcare Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and responding to risks of material misstatement due to fraud

To identify risks of material misstatement due to fraud ('fraud risks') we assessed events and conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud.

Our risk assessment procedures included:

- Enquiring of directors and inspection of policy documentation at the company's high level policies and procedures to prevent and detect fraud including the company's channel for whistle blowing as well as whether they have knowledge of any actual or alleged fraud.
- Reading board minutes
- Considering remuneration incentive schemes and performance targets
- Using analytical procedures to identify any unusual or unexpected relationships

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, and taking into account possible pressures to meet profit targets, we performed procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries.

We did not identify any additional fraud risks.

We performed procedures including identifying journal entries and other adjustments to test based on risk criteria and comparing the identified entries to supporting documentation. These included unusual journals posted to cash and borrowing accounts.

Identifying and responding to risks of material misstatement due to non compliance with laws and regulations.

We identified areas of laws and regulations that could be reasonably expected to have a material effect on the financial statements from more general commercial sector experience and through discussion with the directors and other management (as required by auditing standards) and from inspection of the company's regulatory and legal correspondence and discussed with the directors and other management for policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations throughout our audit team and remained alert to any indications of noncompliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

The company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related parties legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the company is subject to many other laws and regulations, we did not identify any others where the consequences of non compliance alone could have a material effect on amounts or disclosures in their financial statements.

Report of the Independent Auditors to the Members of
Plan B Healthcare Limited


Context of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we may have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing noncompliance or fraud and cannot be expected to detect noncompliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul O'Rourke FCA (Senior Statutory Auditor)
for and on behalf of Evolve Accounting and Tax Solutions Limited
Statutory Auditors
2nd Floor Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN

21 October 2024


Evolve Accounting and Tax Solutions Limited

Plan B Healthcare Limited (Registered number: 06816791)

Income Statement
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   

TURNOVER 6,868,995 4,179,360

Cost of sales 5,366,791 3,297,384
GROSS PROFIT 1,502,204 881,976

Administrative expenses 1,065,509 714,675
436,695 167,301

Other operating income 3 13,426 6,388
OPERATING PROFIT 5 450,121 173,689

Interest receivable and similar income 1,988 28
PROFIT BEFORE TAXATION 452,109 173,717

Tax on profit 6 102,991 33,966
PROFIT FOR THE FINANCIAL YEAR 349,118 139,751

Plan B Healthcare Limited (Registered number: 06816791)

Other Comprehensive Income
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   

PROFIT FOR THE YEAR 349,118 139,751


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

349,118

139,751

Plan B Healthcare Limited (Registered number: 06816791)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 - 7,383

CURRENT ASSETS
Debtors 9 564,940 573,883
Prepayments and accrued income 31,974 46,559
Cash at bank 125,177 126,471
722,091 746,913
CREDITORS
Amounts falling due within one year 10 529,617 701,898
NET CURRENT ASSETS 192,474 45,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

192,474

52,398

CAPITAL AND RESERVES
Called up share capital 14 50,034 50,034
Retained earnings 15 142,440 2,364
SHAREHOLDERS' FUNDS 192,474 52,398

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





P Groves - Director


Plan B Healthcare Limited (Registered number: 06816791)

Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2021 50,034 5,000 55,034

Changes in equity
Dividends - (142,387 ) (142,387 )
Total comprehensive income - 139,751 139,751
Balance at 30 September 2022 50,034 2,364 52,398

Changes in equity
Dividends - (209,042 ) (209,042 )
Total comprehensive income - 349,118 349,118
Balance at 30 September 2023 50,034 142,440 192,474

Plan B Healthcare Limited (Registered number: 06816791)

Cash Flow Statement
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 696,350 70,950
Tax paid (116,680 ) (66,063 )
Net cash from operating activities 579,670 4,887

Cash flows from investing activities
Interest received 1,988 28
Net cash from investing activities 1,988 28

Cash flows from financing activities
Increase in other loans received - 385,006
Increase in group company creditor 449 350
Other loans repaid in the year (374,359 ) -
Equity dividends paid (209,042 ) (142,387 )
Net cash from financing activities (582,952 ) 242,969

(Decrease)/increase in cash and cash equivalents (1,294 ) 247,884
Cash and cash equivalents at beginning of
year

2

126,471

(121,413

)

Cash and cash equivalents at end of year 2 125,177 126,471

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Cash Flow Statement
for the Year Ended 30 September 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.9.23 30.9.22
£    £   
Profit before taxation 452,109 173,717
Depreciation charges 7,383 2,460
Finance income (1,988 ) (28 )
457,504 176,149
Decrease/(increase) in trade and other debtors 23,528 (205,082 )
Increase in trade and other creditors 215,318 99,883
Cash generated from operations 696,350 70,950

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 125,177 126,471
Year ended 30 September 2022
30.9.22 1.10.21
£    £   
Cash and cash equivalents 126,471 103,587
Bank overdrafts - (225,000 )
126,471 (121,413 )


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.10.22 Cash flow At 30.9.23
£    £    £   
Net cash
Cash at bank 126,471 (1,294 ) 125,177
126,471 (1,294 ) 125,177
Debt
Debts falling due within 1 year (385,006 ) 374,359 (10,647 )
(385,006 ) 374,359 (10,647 )
Total (258,535 ) 373,065 114,530

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Plan B 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has the ongoing support of its holding company and other group companies and has continued to be profitable since the year end. The directors believe that the company is able to meet its working capital requirements for a period of at least one year from the approval of these accounts. they therefore consider the company to be a going concern and have prepared accounts on this basis.

Turnover
Turnover comprises the invoiced value of services supplied by the company, net of vat and trade discounts. All revenue is recognised in the Financial Statements as soon as the service has been supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction cost. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Taxation
Current tax, including UK Corporation tax is provided at amounts expected to be paid using the tax rates and laws enacted by the Balance Sheet date.

Deferred tax is only provided for when material. The Directors have decided that deferred tax is not material this year, as was the case last year.

Invoice discounting
The company uses an invoice discounting service. As and when loans are drawn down, these amounts are secured on the trade debtors. Discounting charges and interest are charged to the profit and loss account to reflect the cost of borrowing.

3. OTHER OPERATING INCOME
30.9.23 30.9.22
£    £   
R & D Tax Relief 13,426 6,388

4. EMPLOYEES AND DIRECTORS
30.9.23 30.9.22
£    £   
Wages and salaries 706,659 447,614
Social security costs 54,894 32,051
761,553 479,665

The average number of employees during the year was as follows:
30.9.23 30.9.22

Office administration 2 1
Sales and marketing 6 8
8 9

30.9.23 30.9.22
£    £   
Directors' remuneration 75,625 37,569

5. OPERATING PROFIT

The operating profit is stated after charging:

30.9.23 30.9.22
£    £   
Hire of plant and machinery 3,113 4,912
Depreciation - owned assets 7,383 2,460
Auditors' remuneration 5,000 9,000

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.23 30.9.22
£    £   
Current tax:
UK corporation tax 102,991 33,966
Tax on profit 102,991 33,966

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.23 30.9.22
£    £   
Profit before tax 452,109 173,717
Profit multiplied by the standard rate of corporation tax in the UK of 22%
(2022 - 19%)

99,464

33,006

Effects of:
Expenses not deductible for tax purposes 2,020 657
Depreciation in excess of capital allowances 1,507 303
Total tax charge 102,991 33,966

The rate of corporation tax was changed from 19% to 25% from 1st April 2023. For the year ended 30 September 2023, the weighted average rate of corporation tax was 22%.

7. DIVIDENDS
30.9.23 30.9.22
£    £   
Ordinary shares of £1 each
Final 209,042 142,387

8. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2022
and 30 September 2023 40,224
DEPRECIATION
At 1 October 2022 32,841
Charge for year 7,383
At 30 September 2023 40,224
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 7,383

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 555,491 566,212
Other debtors 9,449 7,671
564,940 573,883

See note 16 regarding related party debtors included in Amounts owed by group undertakings.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other loans (see note 11) 10,647 385,006
Trade creditors 12,079 13,321
Amounts owed to group undertakings 449 -
Tax 20,277 33,966
Social security and other taxes 128,650 81,732
Other creditors 338,940 148,218
Accruals and deferred income 18,575 39,655
529,617 701,898

See note 16 regarding related party creditors included in Other creditors.

11. LOANS

An analysis of the maturity of loans is given below:

30.9.23 30.9.22
£    £   
Amounts falling due within one year or on demand:
Other loans 10,647 385,006

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Within one year 37,872 -
Between one and five years 5,112 88,386
42,984 88,386

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

13. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank overdraft 10,647 -
Invoice discounting - 385,006
10,647 385,006

There is a fixed and floating charge over the assets of the company in favour of RBS Invoice Finance Limited dated 30 November 2021.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
50,000 Ordinary £1 50,000 50,000
34 A Ordinary £1 34 34
50,034 50,034

The holders of the A Ordinary shares hold no voting or dividend rights. The right to any other distribution is subject to the proceeds reaching a minimum value.

15. RESERVES
Retained
earnings
£   

At 1 October 2022 2,364
Profit for the year 349,118
Dividends (209,042 )
At 30 September 2023 142,440

Plan B Healthcare Limited (Registered number: 06816791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

16. RELATED PARTY DISCLOSURES

C. Coyle, N. Poturicich, Ms. A. Coyle and P. Groves are also directors of Mayday Healthcare Limited, Direct Healthcare 24 Limited and Platinum Solutions Group Limited.

C. Coyle, Ms. A. Coyle and P Groves are also Directors of Coyle Personnel Limited, Panther Software Limited and Signal Software Limited.

Related party creditor figures within creditors represent amounts owed by the company re expenses paid on their behalf as follows:

Group undertakings 2023 2022
£    £   

Platinum Solutions Group Limited 78 -
Direct Healthcare 24 Limited 371

449 -

Related party creditor figures within Other creditors represent amounts owing in respect of expenses paid on the company's behalf as follows:

Related undertakings 2023 2022
£    £   

Coyle Personnel Limited 57,600 18,342
Mayday Healthcare Limited 122,022 9,235
Panther Software Limited 926 53
Signal Software Limited 56 -

180,604 27,630


These amounts relate to expenses paid on behalf of the companies and have been repaid.

No trading has taken place between Plan B Healthcare Limited and any related party.

Plan B Healthcare Limited is owned 100% by Tapa Holdings Limited, Tapa Holdings Limited received dividends during the year from Plan B Healthcare Limited. Copies of the accounts of the holding company, Tapa Holdings Limited can be obtained from its registered office of 124 City Road, London EC1V 2NX. Tapa Holdings Limited is controlled by K. Coyle.