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Company registration number: 10595798
Eleven Sisters Healthcare Limited
Unaudited filleted financial statements
28 February 2024
Eleven Sisters Healthcare Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Eleven Sisters Healthcare Limited
Directors and other information
Directors
Mrs Esther Erikefe Mensah
Secretary Mensah, Esther Erikefe
Company number 10595798
Registered office Nelson Business Centre
80-82 Nelson Street
Whitechapel, London
London, United Kingdom
E1 2DY
Accountant S O A Associates & Co.
The Link 49 Effra Road
London
SW2 1BZ
United Kingdon
Bankers Metro Bank Plc
One, Southampton Row
London
England
WC1B 5HA
Eleven Sisters Healthcare Limited
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 48,492 54,552
_______ _______
48,492 54,552
Current assets
Debtors 6 824,891 477,107
Cash at bank and in hand 54,137 43,074
_______ _______
879,028 520,181
Creditors: amounts falling due
within one year 7 ( 578,730) ( 232,960)
_______ _______
Net current assets 300,298 287,221
_______ _______
Total assets less current liabilities 348,790 341,773
Creditors: amounts falling due
after more than one year 8 ( 22,492) ( 33,140)
_______ _______
Net assets 326,298 308,633
_______ _______
Capital and reserves
Called up share capital 100 100
Revaluation reserve 16,610 16,610
Profit and loss account 309,588 291,923
_______ _______
Shareholder funds 326,298 308,633
_______ _______
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mrs Esther Erikefe Mensah
Director
Company registration number: 10595798
Eleven Sisters Healthcare Limited
Statement of changes in equity
Year ended 28 February 2024
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 1 March 2022 100 - 238,951 239,051
Profit for the year 52,972 52,972
_______ _______ _______ _______
Total comprehensive income for the year - - 52,972 52,972
User defined investments by and distributions to owners movement 1 - 16,610 - 16,610
_______ _______ _______ _______
Total investments by and distributions to owners - 16,610 - 16,610
_______ _______ _______ _______
At 28 February 2023 and 1 March 2023 100 16,610 291,923 308,633
Profit for the year 17,665 17,665
_______ _______ _______ _______
Total comprehensive income for the year - - 17,665 17,665
_______ _______ _______ _______
At 28 February 2024 100 16,610 309,588 326,298
_______ _______ _______ _______
Eleven Sisters Healthcare Limited
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Nelson Business Centre, 80-82 Nelson Street, Whitechapel, London, London, United Kingdom, E1 2DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 126 (2023: 105 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 1,891,481 1,162,813
_______ _______
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 March 2023 30,522 46,772 77,294
Additions - 2,512 2,512
_______ _______ _______
At 28 February 2024 30,522 49,284 79,806
_______ _______ _______
Depreciation
At 1 March 2023 12,733 10,009 22,742
Charge for the year 4,211 4,361 8,572
_______ _______ _______
At 28 February 2024 16,944 14,370 31,314
_______ _______ _______
Carrying amount
At 28 February 2024 13,578 34,914 48,492
_______ _______ _______
At 28 February 2023 17,789 36,763 54,552
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 824,891 463,747
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 13,360
_______ _______
824,891 477,107
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 113,150 ( 34)
Amounts owed to group undertakings and undertakings in which the company has a participating interest 108,683 -
Corporation tax 31,893 35,044
Social security and other taxes - 1,192
Other creditors 325,004 196,758
_______ _______
578,730 232,960
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 22,492 33,140
_______ _______
9. Directors advances, credits and guarantees
Eleven Sisters Healthcare Limited
The following pages do not form part of the statutory accounts.
Eleven Sisters Healthcare Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Eleven Sisters Healthcare Limited
Year ended 28 February 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
S O A Associates & Co.
The Link 49 Effra Road
London
SW2 1BZ
United Kingdon
31 October 2024