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COMPANY REGISTRATION NUMBER: 09446114
DES Healthcare Limited
Filleted Unaudited Abridged Financial Statements
30 June 2024
DES Healthcare Limited
Abridged Financial Statements
Year Ended 30 June 2024
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 6
DES Healthcare Limited
Abridged Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed Assets
Intangible assets
5
20,000
40,000
Tangible assets
6
1,575,847
1,545,172
------------
------------
1,595,847
1,585,172
Current Assets
Debtors
290,624
110,810
Cash at bank and in hand
191,367
309,780
---------
---------
481,991
420,590
Creditors: amounts falling due within one year
272,911
240,592
---------
---------
Net Current Assets
209,080
179,998
------------
------------
Total Assets Less Current Liabilities
1,804,927
1,765,170
Creditors: amounts falling due after more than one year
374,569
562,275
Provisions
Taxation including deferred tax
91,367
107,468
------------
------------
Net Assets
1,338,991
1,095,427
------------
------------
Capital and Reserves
Called up share capital
8
100
100
Profit and loss account
1,338,891
1,095,327
------------
------------
Shareholders Funds
1,338,991
1,095,427
------------
------------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
DES Healthcare Limited
Abridged Statement of Financial Position (continued)
30 June 2024
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Dr E Stephens
Director
Company registration number: 09446114
DES Healthcare Limited
Notes to the Abridged Financial Statements
Year Ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England. The registered office is 91 - 97 Saltergate, Chesterfield, Derbyshire, S40 1LA. The trading address of the company is The Old Vicarage, South Park, Lincoln, LN5 8EW.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents residents' fees earned during the year.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures & fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Freehold property is not depreciated on the grounds that the depreciation charge and accumulated depreciation would be immaterial. This is due to the company having a policy and practice of regular maintenance and repair, resulting in a high residual value. Maintenance and repair charges are recognised in the profit and loss account.
Impairment of fixed assets
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.
Government grants
Government and local authority grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of the grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 47 (2023: 41 ).
5. Intangible assets
£
Cost
At 1 July 2023 and 30 June 2024
200,000
---------
Amortisation
At 1 July 2023
160,000
Charge for the year
20,000
---------
At 30 June 2024
180,000
---------
Carrying amount
At 30 June 2024
20,000
---------
At 30 June 2023
40,000
---------
6. Tangible assets
£
Cost
At 1 July 2023
1,723,944
Additions
56,046
------------
At 30 June 2024
1,779,990
------------
Depreciation
At 1 July 2023
178,772
Charge for the year
25,371
------------
At 30 June 2024
204,143
------------
Carrying amount
At 30 June 2024
1,575,847
------------
At 30 June 2023
1,545,172
------------
7. Secured liabilities
The bank loan is secured against the company's assets.
The aggregate amount of secured liabilities at the year end amounted to £352,012 (2023: £537,218).
Included within creditors: amounts falling due after more than one year is an amount of £197,647 (2023: £351,113) for the company in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Related party transactions
During the year the company provided loans to related parties. The balances at 30 June 2024 were as follows:
2024 2023
£ £
Amounts owed by entities under common control 112,241
Outstanding balances from related parties are unsecured, interest free and repayable on demand.