IRIS Accounts Production v24.3.0.553 05110087 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051100872023-03-31051100872024-03-31051100872023-04-012024-03-31051100872022-03-31051100872022-04-012023-03-31051100872023-03-3105110087ns15:EnglandWales2023-04-012024-03-3105110087ns14:PoundSterling2023-04-012024-03-3105110087ns10:Director12023-04-012024-03-3105110087ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105110087ns10:SmallEntities2023-04-012024-03-3105110087ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105110087ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105110087ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105110087ns10:FullAccounts2023-04-012024-03-310511008712023-04-012024-03-3105110087ns10:OrdinaryShareClass12023-04-012024-03-3105110087ns10:Director22023-04-012024-03-3105110087ns10:CompanySecretary12023-04-012024-03-3105110087ns10:RegisteredOffice2023-04-012024-03-3105110087ns5:CurrentFinancialInstruments2024-03-3105110087ns5:CurrentFinancialInstruments2023-03-3105110087ns5:Non-currentFinancialInstruments2024-03-3105110087ns5:Non-currentFinancialInstruments2023-03-3105110087ns5:ShareCapital2024-03-3105110087ns5:ShareCapital2023-03-3105110087ns5:RetainedEarningsAccumulatedLosses2024-03-3105110087ns5:RetainedEarningsAccumulatedLosses2023-03-310511008712023-04-012024-03-3105110087ns5:NetGoodwill2023-04-012024-03-3105110087ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105110087ns5:NetGoodwill2023-03-3105110087ns5:IntangibleAssetsOtherThanGoodwill2023-03-3105110087ns5:NetGoodwill2024-03-3105110087ns5:IntangibleAssetsOtherThanGoodwill2024-03-3105110087ns5:NetGoodwill2023-03-3105110087ns5:IntangibleAssetsOtherThanGoodwill2023-03-3105110087ns5:PlantMachinery2023-03-3105110087ns5:PlantMachinery2023-04-012024-03-3105110087ns5:PlantMachinery2024-03-3105110087ns5:PlantMachinery2023-03-3105110087ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3105110087ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3105110087ns5:Non-currentFinancialInstruments2023-04-012024-03-3105110087ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3105110087ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-03-3105110087ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3105110087ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3105110087ns5:HirePurchaseContracts2024-03-3105110087ns5:HirePurchaseContracts2023-03-3105110087ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 05110087 (England and Wales)















PROSPECT HEALTH LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSPECT HEALTH LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: L J Skinner
L Fordham





SECRETARY: L J Skinner





REGISTERED OFFICE: 2 Victoria Avenue
Harrogate
HG1 1EL





REGISTERED NUMBER: 05110087 (England and Wales)





ACCOUNTANTS: DSC
Chartered Accountants
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT

PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 216,813 181,221
216,813 181,221

CURRENT ASSETS
Debtors 6 1,185,736 822,921
Cash at bank 325,967 360,185
1,511,703 1,183,106
CREDITORS
Amounts falling due within one year 7 525,574 683,069
NET CURRENT ASSETS 986,129 500,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,942

681,258

CREDITORS
Amounts falling due after more than one
year

8

(149,490

)

(110,978

)

PROVISIONS FOR LIABILITIES (54,203 ) -
NET ASSETS 999,249 570,280

CAPITAL AND RESERVES
Called up share capital 10 605 605
Retained earnings 998,644 569,675
SHAREHOLDERS' FUNDS 999,249 570,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

BALANCE SHEET - continued
31 MARCH 2024


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 18 December 2024 and were signed on its behalf by:





L J Skinner - Director


PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Prospect Health Ltd 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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only
that period, or in the period of the revision and future periods where the revision affects both current
and future periods.
Management do not believe there to be any critical accounting estimates or judgments required in the
preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When cash inflows are deferred and represent a financing arrangement, the fair value of the
consideration is the present value of the future receipts. The difference between the fair value of the
consideration and the nominal amount received is recognised as interest income.

Goodwill
Goodwill arising on the acquisition of trade and assets represents the excess of the fair value of the
consideration over the fair value of the identifiable assets and liabilities acquired. It is initially
recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and
accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a
systematic basis over its expected life, which is 5 years.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently
measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the
acquisition date where it is probable that the expected future economic benefits that are attributable
to the asset will flow to the entity and the fair value of the asset can be measured reliably; the
intangible asset arises from contractual or other legal rights; and the intangible asset is separable from
the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives on the following bases:

Intellectual property3 years straight line

PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net
of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives on the following bases:

Fixture, fittings & equipment12.75% straight line
Computer equipment25% straight line
Motor vehicles15%-40% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks
and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the
date of inception and the present value of the minimum lease payments. The related liability is included
in the statement of financial position as a finance lease obligation. Lease payments are treated as
consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a
constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or
loss on a straight line basis over the term of the relevant lease except where another more systematic
basis is more representative of the time pattern in which economic benefits from the leases asset are
consumed.

Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall
due.

PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 886,402 56,299 942,701
AMORTISATION
At 1 April 2023
and 31 March 2024 886,402 56,299 942,701
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 451,241
Additions 87,580
At 31 March 2024 538,821
DEPRECIATION
At 1 April 2023 270,020
Charge for year 51,988
At 31 March 2024 322,008
NET BOOK VALUE
At 31 March 2024 216,813
At 31 March 2023 181,221

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 634,969 496,908
Amounts owed by group undertakings 491,351 285,058
Other debtors 59,416 40,955
1,185,736 822,921

PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 35,190 11,581
Trade creditors 48,588 45,585
Amounts owed to group undertakings 168,003 168,003
Taxation and social security 232,681 273,397
Other creditors 31,112 174,503
525,574 683,069

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,862 20,682
Hire purchase contracts (see note 9) 138,628 90,296
149,490 110,978

Included within total Hire Purchase are finance lease liabilities totalling £173,818. These liabilities are
secured against tangible fixed assets with a net book value of £163,448.

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 35,190 11,581
Between one and five years 138,628 90,296
173,818 101,877

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60,450 Ordinary 0.01 605 605

11. RELATED PARTY DISCLOSURES

During the year the company repaid £39,376 (2023: £609) in respect of money loaned from the
directors. This therefore leaves total loans owed from the directors, at the year end of £1,499 (2023:
£42,920 owed to directors). The loan is made to the company interest free and the amount due within one year is repayable upon demand.

At 31 March 2024 the company owed £168,003 (2023: £168,003) to Prospect Health Holdings Ltd and
the company was owed £416,460 (2023: £285,058) from Global Talent Partners Ltd and 74,891 (2023: £nil) from Prospect Business Sales Limited.

PROSPECT HEALTH LTD (REGISTERED NUMBER: 05110087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. ULTIMATE CONTROLLING PARTY

The company is owned by Global Talent Partners Ltd. The registered office is 2 Victoria Avenue,
Harrogate, North Yorkshire, HG1 1EL.