REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
PASANTE HEALTHCARE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
PASANTE HEALTHCARE LIMITED |
PASANTE HEALTHCARE LIMITED (REGISTERED NUMBER: 04409735) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PASANTE HEALTHCARE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
The Old Casino |
28 Fourth Avenue |
Hove |
East Sussex |
BN3 2PJ |
PASANTE HEALTHCARE LIMITED (REGISTERED NUMBER: 04409735) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
PASANTE HEALTHCARE LIMITED (REGISTERED NUMBER: 04409735) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Pasante Healthcare Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in Sterling (£) and rounded to the nearest £1. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group with immaterial transactions. |
Turnover |
Turnover is recognised at the point the goods are dispatched to the customer. Where the goods are packed and allocated to a specific customer ready for collection or delivery and the company has done everything necessary to transfer the risks and rewards of ownership, the revenue is also recognised. It is included in the financial statements net of value added tax. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Improvements to property | over the period of the lease |
Plant and machinery | over a period between 2 and 10 years |
Computer equipment | over a period between 3 and 5 years |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial instruments are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recongnised amounts and there is an intention to settle on a net basis or realise the asset or settle the liability simultaneously. |
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. |
PASANTE HEALTHCARE LIMITED (REGISTERED NUMBER: 04409735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. All assets are depreciated over their estimated useful lives. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 | 395,635 | 92,401 | 20,433 | 508,469 |
5. | STOCKS |
2024 | 2023 |
as restated |
£ | £ |
Stocks |
PASANTE HEALTHCARE LIMITED (REGISTERED NUMBER: 04409735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 115,006 | 80,658 |
Other creditors |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
as restated |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
PASANTE HEALTHCARE LIMITED (REGISTERED NUMBER: 04409735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
10. | RELATED PARTY DISCLOSURES |
During the year, Pasante Healthcare Limited purchased goods from Medical Latex (Dua) SDN BHD, a subsidiary of the parent company (Karex Berhad) who wholly own Pasante Healthcare Limited, with a balance outstanding at the year end to the value of £162,750 (2023: £401,003). All outstanding amounts are interest free and repayable on demand. |
During the year, Pasante Healthcare Limited purchased goods from Karex Industries SDN BHD, a subsidiary of the parent company (Karex Berhad) who wholly own Pasante Healthcare Limited, with a balance outstanding at the year end to the value of £27,562 (2023: £30,978). Pasante Healthcare Limited received commission in relation to introducing new customers to Karex Industries SDN BHD resulting in a year end debtor of £Nil (2023: £9,613). All outstanding amounts are interest free and repayable on demand. |
During the year, Pasante Healthcare Limited purchased goods from Innolatex (Thailand) Limited, a subsidiary of the parent company (Karex Berhad) who wholly own Pasante Healthcare Limited, with a balance outstanding at the year end to the value of £12,670 (2023: £Nil). All outstanding amounts are interest free and repayable on demand. |
During the year, Pasante Healthcare Limited purchased goods from Global Protection Corp, a subsidiary of the parent company (Karex Berhad) who wholly own Pasante Healthcare Limited, with a balance outstanding at the year end to the value of £4,361 (2023: £4,361).Pasante Healthcare Limited also sold good to Global Protection Corp resulting in a year end debtor of £11,223 (2023: £6,845. All outstanding amounts are interest free and repayable on demand. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The Company's immediate parent company is Karex Holdings Sdn Bhd. The Company's ultimate parent undertaking and controlling party is Karex Berhad, a corporation listed in Malaysia. Copies of the group financial statements of Karex Berhad are available on the company website. The registered office for Karex Holdings Sdn Bhd is Lot 594, Persiaran Raja Lumu, Pandamaran Industrial Estate, Port Klang, Selangor Dural Ehsan, 42000. |