Registration number:
Marren Healthcare Ltd
trading as
for the Year Ended 31 December 2023
Marren Healthcare Ltd
trading as Compare Rehab
Contents
Company Information |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
|
iXBRL Detailed Profit and Loss Account |
Marren Healthcare Ltd
trading as Compare Rehab
Company Information
Directors |
Mr Darren Kelly Rolfe Mr Michael Alfred Garnham |
Registered office |
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Accountants |
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Marren Healthcare Ltd
trading as Compare Rehab
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:
Principal activity
The principal activity of the company is that of referral agent for rehabilitation centres
Going concern
The company is dependent on continuing finance being made available from the directors to enable it to continue operating and to meet its debts as they fall due. The directors believes it is therefore appropriate to prepare the financial statements on a going concern
Small companies provision statement
This report has 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.
This report was approved by the
.........................................
Director
Marren Healthcare Ltd
trading as Compare Rehab
Statement of Directors' Responsibilities
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 apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
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.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Marren Healthcare Ltd
trading as Compare Rehab
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Marren Healthcare Ltd for the year ended 31 December 2023 as set out on pages 5 to 15 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Marren Healthcare Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Marren Healthcare Ltd and state those matters that we have agreed to state to the Board of Directors of Marren Healthcare Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marren Healthcare Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Marren Healthcare Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Marren Healthcare Ltd. You consider that Marren Healthcare Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Marren Healthcare Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
............................................................................
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
Marren Healthcare Ltd
trading as Compare Rehab
Profit and Loss Account for the Year Ended 31 December 2023
Note |
2023 |
2022 |
|
Turnover |
|
|
|
Administrative expenses |
( |
( |
|
Operating loss |
( |
( |
|
Loss before tax |
( |
( |
|
Loss for the financial year |
( |
( |
Marren Healthcare Ltd
trading as Compare Rehab
(Registration number: 13813237)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
(39,822) |
(21,014) |
|
Shareholders' deficit |
(39,722) |
(20,914) |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Marren Healthcare Ltd
trading as Compare Rehab
(Registration number: 13813237)
Balance Sheet as at 31 December 2023 (continued)
The financial statements were approved and authorised for issue by the
......................................... |
Marren Healthcare Ltd
trading as Compare Rehab
Statement of Changes in Equity for the Year Ended 31 December 2023
Share capital |
Retained earnings |
Total |
|
Loss for the year |
- |
( |
( |
New share capital subscribed |
|
- |
|
At 31 December 2022 |
100 |
(21,014) |
(20,914) |
Share capital |
Retained earnings |
Total |
|
At 1 January 2023 |
|
( |
( |
Loss for the year |
- |
( |
( |
At 31 December 2023 |
|
( |
( |
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.
Going concern
The company is dependent on continuing finance being made available from the directors to enable it to continue operating and to meet its debts as they fall due. The directors believes it is therefore appropriate to prepare the financial statements on a going concern
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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.
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 |
Office equipment |
20% straight line |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Website delopment |
Over 5 years |
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.
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
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.
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Financial instruments
Classification
Recognition and measurement
Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Impairment
For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
Staff numbers |
The average monthly number of persons employed by the company (including directors) during the year, was
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
Loss before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Intangible assets |
Website development |
|
Cost |
|
At 1 January 2023 |
|
Additions acquired separately |
|
At 31 December 2023 |
|
Amortisation |
|
At 1 January 2023 |
|
Amortisation charge |
|
At 31 December 2023 |
|
Carrying amount |
|
At 31 December 2023 |
|
At 31 December 2022 |
|
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost |
||
At 1 January 2023 |
|
|
At 31 December 2023 |
|
|
Depreciation |
||
At 1 January 2023 |
|
|
Charge for the year |
|
|
At 31 December 2023 |
|
|
Carrying amount |
||
At 31 December 2023 |
|
|
At 31 December 2022 |
|
|
Debtors |
2023 |
2022 |
|
Prepayments |
|
- |
|
- |
Marren Healthcare Ltd
trading as Compare Rehab
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Trade creditors |
- |
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
- |
|
|
Other creditors |
|
|
|
Directors current account |
47,172 |
44,986 |
|
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Related party transactions |
Summary of transactions with other related parties
At the balance sheet date the company owed £49,915.26 (2022: £45,916) to Steps Together Rehab (Leicester) Limited, a company incorporated in England and Wales and in which the director, Mr Mr Darren Kelly Rolfe is also director and shareholder.
At the balance sheet date the company owed £500 (2022: £Nil) to Lamm Property Holdings limited, a company incorporated in England and Wales and in which the director, Mr Michael Aifred Garnham is also director and shareholder.
Marren Healthcare Ltd
trading as Compare Rehab
iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2023
2023 |
2022 |
|
Turnover/revenue |
|
|
Cost of sales |
||
Opening stock/inventories |
- |
- |
Closing stock/inventories |
- |
- |
Gross profit |
12,516 |
6,562 |
Distribution costs |
||
Administrative expenses |
||
Audit and accountancy other services |
( |
( |
Advertising, promotions and marketing costs |
( |
( |
Rent, rates and services costs |
( |
- |
Depreciation of Fixed assets |
( |
( |
Amortisation of intangible assets |
( |
( |
Consultancy costs |
( |
( |
Travel and subsistence |
( |
( |
Legal and professional costs |
( |
( |
Bank charges |
( |
- |
IT and computing |
( |
( |
Telecommunications |
( |
( |
Subscriptions |
( |
( |
Other operating income |
||
Other items |
||
Loss for the financial year |
( |
( |