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Company No: 09970496 (England and Wales)

VANTAGE (SOUTH) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

VANTAGE (SOUTH) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

VANTAGE (SOUTH) LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
VANTAGE (SOUTH) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Dr E Hickey
Dr J Hickey
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 09970496 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
VANTAGE (SOUTH) LIMITED

BALANCE SHEET

As at 31 January 2024
VANTAGE (SOUTH) LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,193 2,563
3,193 2,563
Current assets
Debtors 4 8,022 52,102
Cash at bank and in hand 166,382 80,155
174,404 132,257
Creditors: amounts falling due within one year 5 ( 62,799) ( 49,132)
Net current assets 111,605 83,125
Total assets less current liabilities 114,798 85,688
Creditors: amounts falling due after more than one year 6 ( 10,667) ( 18,667)
Net assets 104,131 67,021
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 104,031 66,921
Total shareholders' funds 104,131 67,021

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Vantage (South) Limited (registered number: 09970496) were approved and authorised for issue by the Board of Directors on 04 December 2024. They were signed on its behalf by:

Dr J Hickey
Director
Dr E Hickey
Director
VANTAGE (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
VANTAGE (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Vantage (South) Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The principal place of business is Nuffield Hospital, Bournemouth Hospital, 67 Lansdown Road, Bournemouth, BH1 1RW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There is no material departure from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of services to patients. Revenue is recognised when the invoice is raised.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Long term other creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 February 2023 254 5,000 5,254
Additions 0 1,804 1,804
Disposals 0 ( 1,355) ( 1,355)
At 31 January 2024 254 5,449 5,703
Accumulated depreciation
At 01 February 2023 153 2,538 2,691
Charge for the financial year 51 1,123 1,174
Disposals 0 ( 1,355) ( 1,355)
At 31 January 2024 204 2,306 2,510
Net book value
At 31 January 2024 50 3,143 3,193
At 31 January 2023 101 2,462 2,563

4. Debtors

2024 2023
£ £
Trade debtors 845 47,647
Amounts owed by directors 1,929 0
Prepayments 1,258 465
Other debtors 3,990 3,990
8,022 52,102

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 7,999 7,999
Amounts owed to directors 0 354
Accruals 3,800 6,979
Taxation and social security 51,000 33,800
62,799 49,132

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,667 18,667

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 20,907 0

The company entered into an operating lease during the year, monthly payments are obligated for 33 months post the year end.

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by a director 1,929 (354)

Balances due (to)/from directors are repayable on demand and attract no interest.