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REGISTERED NUMBER: 04409735 (England and Wales)















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: M K Goh
L K Goh





SECRETARY: M K Goh





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 04409735 (England and Wales)





AUDITORS: Galloways Accounting (Audit) Limited
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 4 448,008 508,468

CURRENT ASSETS
Stocks 5 1,750,715 1,576,858
Debtors 6 1,311,259 1,095,515
Cash at bank and in hand 810,008 453,909
3,871,982 3,126,282
CREDITORS
Amounts falling due within one year 7 2,259,863 1,788,998
NET CURRENT ASSETS 1,612,119 1,337,284
TOTAL ASSETS LESS CURRENT LIABILITIES 2,060,127 1,845,752

PROVISIONS FOR LIABILITIES 55,872 32,902
NET ASSETS 2,004,255 1,812,850

CAPITAL AND RESERVES
Called up share capital 253 253
Retained earnings 2,004,002 1,812,597
SHAREHOLDERS' FUNDS 2,004,255 1,812,850

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 2 October 2024 and were signed on its behalf by:





M K Goh - Director


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 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.

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 propertyover the period of the lease
Plant and machineryover a period between 2 and 10 years
Computer equipmentover 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 45 (2023 - 40 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 July 2023 709,817 386,250 120,985 1,217,052
Additions 20,246 13,900 19,111 53,257
Disposals - - (920 ) (920 )
At 30 June 2024 730,063 400,150 139,176 1,269,389
DEPRECIATION
At 1 July 2023 314,182 293,849 100,552 708,583
Charge for year 74,572 28,123 11,023 113,718
Eliminated on disposal - - (920 ) (920 )
At 30 June 2024 388,754 321,972 110,655 821,381
NET BOOK VALUE
At 30 June 2024 341,309 78,178 28,521 448,008
At 30 June 2023 395,635 92,401 20,433 508,469

5. STOCKS
2024 2023
as restated
£    £   
Stocks 1,750,715 1,576,858

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 1,086,000 832,986
Other debtors 36,444 99,410
Prepayments 188,815 163,119
1,311,259 1,095,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 359,190 377,921
Amounts owed to group undertakings 207,343 436,342
Tax 77,491 53,867
Social security and other taxes 42,163 35,783
VAT 115,006 80,658
Other creditors 646,752 472,166
Accrued expenses 811,918 332,261
2,259,863 1,788,998

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
as restated
£    £   
Within one year 218,011 218,011
Between one and five years 817,541 872,044
In more than five years - 163,508
1,035,552 1,253,563

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christian Heeger FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting (Audit) Limited

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 Karex Berhad.

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.