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REGISTERED NUMBER: 13666585 (England and Wales)















Financial Statements for the Year Ended 31st March 2024

for

Verve Healthcare Limited

Verve Healthcare Limited (Registered number: 13666585)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Verve Healthcare Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: S J Pink
C John
K Westcott





REGISTERED OFFICE: Hanover House
76 Coombe Road
Kingston upon Thames
KT2 7AZ





REGISTERED NUMBER: 13666585 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

Verve Healthcare Limited (Registered number: 13666585)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 73,346 88,995

CURRENT ASSETS
Debtors 5 105,844 143,973
Cash at bank and in hand 24,258 9,015
130,102 152,988
CREDITORS
Amounts falling due within one year 6 1,426,501 609,588
NET CURRENT LIABILITIES (1,296,399 ) (456,600 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,223,053

)

(367,605

)

CAPITAL AND RESERVES
Called up share capital 7 89 85
Retained earnings (1,223,142 ) (367,690 )
SHAREHOLDERS' FUNDS (1,223,053 ) (367,605 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Verve Healthcare Limited (Registered number: 13666585)

Balance Sheet - continued
31st March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2024 and were signed on its behalf by:




S J Pink - Director



K Westcott - Director


Verve Healthcare Limited (Registered number: 13666585)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Verve 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.

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.

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 three years.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Verve Healthcare Limited (Registered number: 13666585)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued

Going concern
The company has not yet achieved a level of sales commensurate to costs incurred in providing the infrastructure needed to supply the services envisaged.

The directors, having assessed the responses of the directors of the company's parent, South East London Doctors Co operative Limited, to their enquiries concerning the lack of breakthrough sales, have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company's parent to fund continued support and their commitment to do so. They thus continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023 88,995
Additions 6,800
At 31st March 2024 95,795
AMORTISATION
Charge for year 22,449
At 31st March 2024 22,449
NET BOOK VALUE
At 31st March 2024 73,346
At 31st March 2023 88,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73 -
Other debtors and prepayments 105,771 143,973
105,844 143,973

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,690 84,780
Other creditors and accruals 1,394,811 524,808
1,426,501 609,588

Verve Healthcare Limited (Registered number: 13666585)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 A Shares £1 75 75
10 B Shares £1 10 10
4 Ordinary Growth £1 4 -
89 85

4 Ordinary Growth shares of £1 each were allotted and fully paid for cash at par during the year.

8. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.