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Company No: 05162136 (England and Wales)

THE HAEMORRHOID CENTRE LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

THE HAEMORRHOID CENTRE LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

THE HAEMORRHOID CENTRE LIMITED

BALANCE SHEET

As at 30 June 2024
THE HAEMORRHOID CENTRE LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 24,535 24,535
Investments 4 59,172 48,670
83,707 73,205
Current assets
Stocks 52,750 52,750
Debtors 5 752,880 1,540
Cash at bank and in hand 905,331 321,303
1,710,961 375,593
Creditors: amounts falling due within one year 6 ( 518,030) ( 39,368)
Net current assets 1,192,931 336,225
Total assets less current liabilities 1,276,638 409,430
Provision for liabilities ( 3,630) ( 1,005)
Net assets 1,273,008 408,425
Capital and reserves
Called-up share capital 7 1 1
Fair value reserve 10,892 3,015
Profit and loss account 1,262,115 405,409
Total shareholder's funds 1,273,008 408,425

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Haemorrhoid Centre Limited (registered number: 05162136) were approved and authorised for issue by the Board of Directors on 21 January 2025. They were signed on its behalf by:

C R Reynolds
Director
THE HAEMORRHOID CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
THE HAEMORRHOID CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

The Haemorrhoid Centre Limited (the Company) 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 Unit B3 Walker Business Park, Three Mile Stone, Truro, TR4 9FB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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.

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

Turnover

Rendering of services

Revenue from a contract to 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 cost incurred and the costs to complete the contract can be measured reliably.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2023 24,535
As at 30 June 2024 24,535

The investment property is included within the financial statements at the directors valuation.

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 48,670 48,670
Movement in fair value 10,502 10,502
At 30 June 2024 59,172 59,172
Carrying value at 30 June 2024 59,172 59,172
Carrying value at 30 June 2023 48,670 48,670

5. Debtors

2024 2023
£ £
Trade debtors 12,081 0
Other debtors 740,799 1,540
752,880 1,540

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,401 2,410
Amounts owed to directors 289 289
Accruals 2,200 2,000
Corporation tax 294,110 29,615
Other taxation and social security 211,030 5,054
518,030 39,368

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary A Share share of £ 1.00 1 1

8. Related party transactions

Other related party transactions

2024 2023
£ £
Interest free loan to Island View Capital Limited, repayable on demand 625,000 0
Intercompany Loan - C J Medical 69,725 0