Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity44truefalse 11605954 2023-04-01 2024-03-31 11605954 2022-04-01 2023-03-31 11605954 2024-03-31 11605954 2023-03-31 11605954 1 2023-04-01 2024-03-31 11605954 d:Director4 2023-04-01 2024-03-31 11605954 c:Buildings 2023-04-01 2024-03-31 11605954 c:Buildings 2024-03-31 11605954 c:Buildings 2023-03-31 11605954 c:Buildings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11605954 c:Buildings c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 11605954 c:Buildings c:LongLeaseholdAssets 2024-03-31 11605954 c:Buildings c:LongLeaseholdAssets 2023-03-31 11605954 c:Buildings c:LongLeaseholdAssets c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:MotorVehicles 2023-04-01 2024-03-31 11605954 c:MotorVehicles 2024-03-31 11605954 c:MotorVehicles 2023-03-31 11605954 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11605954 c:MotorVehicles c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:FurnitureFittings c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:FurnitureFittings 2023-04-01 2024-03-31 11605954 c:FurnitureFittings 2024-03-31 11605954 c:FurnitureFittings 2023-03-31 11605954 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11605954 c:OfficeEquipment 2023-04-01 2024-03-31 11605954 c:OfficeEquipment 2024-03-31 11605954 c:OfficeEquipment 2023-03-31 11605954 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11605954 c:OfficeEquipment c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11605954 c:OtherPropertyPlantEquipment 2024-03-31 11605954 c:OtherPropertyPlantEquipment 2023-03-31 11605954 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11605954 c:OtherPropertyPlantEquipment c:PriorPeriodErrorIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11605954 c:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 11605954 c:ComputerSoftware 2024-03-31 11605954 c:ComputerSoftware 2023-03-31 11605954 c:ComputerSoftware c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:CurrentFinancialInstruments 2024-03-31 11605954 c:CurrentFinancialInstruments 2023-03-31 11605954 c:Non-currentFinancialInstruments 2024-03-31 11605954 c:Non-currentFinancialInstruments 2023-03-31 11605954 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 11605954 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 11605954 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 11605954 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 11605954 c:ShareCapital 2024-03-31 11605954 c:ShareCapital 2023-03-31 11605954 c:RetainedEarningsAccumulatedLosses 2024-03-31 11605954 c:RetainedEarningsAccumulatedLosses 2023-03-31 11605954 d:FRS102 2023-04-01 2024-03-31 11605954 d:Audited 2023-04-01 2024-03-31 11605954 d:FullAccounts 2023-04-01 2024-03-31 11605954 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11605954 c:WithinOneYear 2024-03-31 11605954 c:WithinOneYear 2023-03-31 11605954 c:BetweenOneFiveYears 2024-03-31 11605954 c:BetweenOneFiveYears 2023-03-31 11605954 c:HirePurchaseContracts c:WithinOneYear 2024-03-31 11605954 c:HirePurchaseContracts c:WithinOneYear 2023-03-31 11605954 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-03-31 11605954 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-03-31 11605954 c:HirePurchaseContracts c:MoreThanFiveYears 2024-03-31 11605954 c:HirePurchaseContracts c:MoreThanFiveYears 2023-03-31 11605954 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11605954 2 2023-04-01 2024-03-31 11605954 4 2023-04-01 2024-03-31 11605954 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2024-03-31 11605954 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2023-03-31 11605954 c:LeasedAssetsHeldAsLessee 2024-03-31 11605954 c:LeasedAssetsHeldAsLessee 2023-03-31 11605954 c:ComputerSoftware c:OwnedIntangibleAssets 2023-04-01 2024-03-31 11605954 e:PoundSterling 2023-04-01 2024-03-31 11605954 c:PriorPeriodErrorIncreaseDecrease 2023-04-01 2024-03-31 11605954 c:PreviouslyStatedAmount 2023-03-31 11605954 c:OfficeEquipment c:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 11605954










NNS LEASING LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
NNS LEASING LIMITED
REGISTERED NUMBER: 11605954

BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
27,837
37,116

Tangible assets
 6 
9,017,815
9,779,597

Investments
 7 
-
80,000

  
9,045,652
9,896,713

Current assets
  

Fixed assets held for sale
 14 
-
4,899,999

Debtors: amounts falling due within one year
 8 
1,436,116
1,291,403

Cash at bank and in hand
  
48,904
777,432

  
1,485,020
6,968,834

Creditors: amounts falling due within one year
 9 
(17,026,755)
(22,931,725)

Net current liabilities
  
 
 
(15,541,735)
 
 
(15,962,891)

Total assets less current liabilities
  
(6,496,083)
(6,066,178)

Creditors: amounts falling due after more than one year
 10 
(1,309,936)
(3,351,542)

Provisions for liabilities
  

Deferred tax
  
(562,119)
-

  
 
 
(562,119)
 
 
-

Net liabilities
  
(8,368,138)
(9,417,720)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(8,368,338)
(9,417,920)

  
(8,368,138)
(9,417,720)


Page 1

 
NNS LEASING LIMITED
REGISTERED NUMBER: 11605954
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N J McGrath
Director

Date: 30 December 2024

The notes on pages 3 to 15 form part of these financial statements.

Page 2

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

NNS Leasing Limited is a private company limited by shares incorporated in England and Wales in the United Kingdom. The address of the registered office is Suite 9, 20 Churchill Square, Kings Hill, West Malling, Kent, England, ME19 4YU. 
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £1. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is in a net liability position at the current and prior year end. This is largely attributable to the early stage of the Company, and as trade continues to increase it is expected to reduce the net liability position. The directors are cognisant of the fact that the Company is an inherent part of the group's overall structure and asset financing arrangements, and the going concern status is assessed in that context. On this basis, the ultimate parent Company has indicated its willingness to provide any required financial support if required to enable the Company to meet its financial obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. 
Therefore, the directors have concluded that there are no material uncertainties in the Company's ability to continue as a going concern, and the financial statements have been prepared on a going concern basis accordingly.

Page 3

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Non-recurring costs

Non-recurring costs are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 5

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
25%
Reducing balance

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Should the Company decide to dispose of any assets before the previously expected date, the assets are impaired to their recoverable amounts and reclassified to current assets held for sale. 

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives at the following rates:

Depreciation is provided on the following basis:

Freehold property
-
1% straight line.
Long-term leasehold property
-
20 years straight line.
Motor vehicles
-
25% reducing balance.
Fixtures and fittings
-
25% reducing balance.
Office equipment
-
25% reducing balance.
Medical equipment
-
10% reducing balance, 25% reducing balance and 12 years straight line.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Page 6

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.18

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Page 7

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
- Useful expected life of assets


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 8

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Computer software

£



Cost


Prior Year Adjustment (note 13)
71,828


At 1 April 2023 (as restated)
71,828



At 31 March 2024

71,828



Amortisation


Prior Year Adjustment
34,712


At 1 April 2023 (as restated)
34,712


Charge for the year on owned assets
9,279



At 31 March 2024

43,991



Net book value



At 31 March 2024
27,837



At 31 March 2023 (as restated)
37,116



Page 9

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Freehold property
Long-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 April 2023 (as previously stated)
2,584,364
3,696,573
8,490
310,683
371,266


Prior Year Adjustment (note 13)
-
-
-
-
(71,828)


At 1 April 2023 (as restated)
2,584,364
3,696,573
8,490
310,683
299,438


Additions
-
-
-
42,738
-


Disposals
-
-
-
-
(2,028)



At 31 March 2024

2,584,364
3,696,573
8,490
353,421
297,410



Depreciation


At 1 April 2023 (as previously stated)
51,448
536,257
4,415
142,213
171,980


Prior Year Adjustment
-
-
-
-
(34,712)


At 1 April 2023 (as restated)
51,448
536,257
4,415
142,213
137,268


Charge for the year on owned assets
25,844
184,829
815
52,990
40,035


Disposals
-
-
-
-
-



At 31 March 2024

77,292
721,086
5,230
195,203
177,303



Net book value



At 31 March 2024
2,507,072
2,975,487
3,260
158,218
120,107



At 31 March 2023 (as restated)
2,532,916
3,160,316
4,075
168,470
162,170
Page 10

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           6.Tangible fixed assets (continued)


Medical equipment
Total

£
£



Cost or valuation


At 1 April 2023 (as previously stated)
4,977,232
11,948,608


Prior Year Adjustment (note 13)
-
(71,828)


At 1 April 2023 (as restated)
4,977,232
11,876,780


Additions
41,188
83,926


Disposals
(147,762)
(149,790)



At 31 March 2024

4,870,658
11,810,916



Depreciation


At 1 April 2023 (as previously stated)
1,225,582
2,131,895


Prior Year Adjustment
-
(34,712)


At 1 April 2023 (as restated)
1,225,582
2,097,183


Charge for the year on owned assets
460,196
764,709


Disposals
(68,791)
(68,791)



At 31 March 2024

1,616,987
2,793,101



Net book value



At 31 March 2024
3,253,671
9,017,815



At 31 March 2023 (as restated)
3,751,650
9,779,597

Page 11

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           6.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Medical Equipment
2,921,444
3,625,276

2,921,444
3,625,276


7.


Fixed asset investments





Investments in associates

£





At 1 April 2023
80,000


Disposals
(80,000)



At 31 March 2024
-




In the year the Company sold its interest in Orpington Endoscopy Solutions Ltd for cash consideration of £100,000 plus deferred cash consideration of £150,000 (shown in note 9 as Other debtors), resulting in a profit of £170,000.  


8.


Debtors

2024
2023
£
£


Trade debtors
-
386,963

Amounts owed by group undertakings
851,997
341,747

Other debtors
150,000
-

Prepayments and accrued income
434,119
562,693

1,436,116
1,291,403


Amounts due from fellow group undertakings are repayable on demand, interest free and unsecured. 

Page 12

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
42,302
804,420

Amounts owed to group undertakings
15,102,037
19,659,636

Other taxation and social security
1,057,595
67,104

Obligations under finance lease and hire purchase contracts
546,093
892,405

Other creditors
9,872
-

Accruals and deferred income
268,856
1,508,160

17,026,755
22,931,725


Amounts due from fellow group undertakings are payable on demand, interest free and unsecured. 


10.


Creditors: Amounts falling due after more than one year

As restated
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
1,309,936
3,351,542

1,309,936
3,351,542


The group of which the Company is a member has banking facilities secured by fixed and floating charges on all assets of the group. The Company participates in an unlimited multilateral guarantee thereby.
Shareholder loans in Healthshare Limited, the parent company are secured by fixed and floating charges on all assets in both the parent company and the Company. 
Obligations under finance lease and hire purchase contracts are secured against the assets to which the contracts relate. 

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
-
106,882

-
106,882



Page 13

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
619,669
1,087,769

Between 1-5 years
1,384,926
3,704,252

Over 5 years
-
125,186

2,004,595
4,917,207


12.


Prior year adjustment

A prior year presentational restatement has occurred show computer software as an intangible fixed asset seperately from other tangible fixed assets within the balance sheet. There are no changes to the net liabilities position. 
Finance costs relating to obligations under finance leases and hire purchase contracts were understated by £210,509 in the prior year. This has been corrected, decreasing the net assets of the company by that amount. 


13.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
398,051
768,001

Later than 1 year and not later than 5 years
99,513
497,564

497,564
1,265,565


14.


Post balance sheet events

On the 1 August 2024, a hire purchase agreement was entered into for the value of £2,400,000 for two new MRI machines to support business growth. 
On the 20 December 2024, 100% of all share classes in Healthshare Limited, the ultimate parent company, were acquired by Crossco (1469) Limited, registered in the United Kingdom, whose registered office address is The Light Box, Quorum Business Park, Benton Lane, Newcastle upon Tyne, NE12 8EU. As of this date and at the date of approval of these accounts, there is no ultimate controlling party. 

Page 14

 
NNS LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

15.


Parent undertaking

The parent of the smallest group for which consolidated financial statements are available is Healthshare Limited, a company registered in England and Wales at Suite 9, 20 Churchill Square, Kings Hill, West Malling, Kent, ME19 4YU.


16.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 30 December 2024 by Duncan Cochrane-Dyet BSc BFP FCA (Senior Statutory Auditor) on behalf of MHA.
MHA is the trading name of Macintyre Hudson LLP, a limited liability partnership incorporated in England and Wales (registered number OC312313)

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