Company Registration No. 06016289 (England and Wales)
Wholistic Medical Centre Ltd
Unaudited accounts
for the year ended 30 April 2024
Wholistic Medical Centre Ltd
Unaudited accounts
Contents
Wholistic Medical Centre Ltd
Company Information
for the year ended 30 April 2024
Company Number
06016289 (England and Wales)
Registered Office
Lower Ground Floor
8 Upper Wimpole Street
London
W1G 6LH
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Wholistic Medical Centre Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
51,167
50,845
Cash at bank and in hand
64,168
78,818
Creditors: amounts falling due within one year
(88,067)
(94,643)
Net current assets
8,555
49,432
Total assets less current liabilities
59,722
100,277
Provisions for liabilities
Deferred tax
(12,023)
(16,212)
Called up share capital
1
1
Profit and loss account
47,698
84,064
Shareholders' funds
47,699
84,065
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 January 2025 and were signed on its behalf by
Dr S Daya
Director
Company Registration No. 06016289
Wholistic Medical Centre Ltd
Notes to the Accounts
for the year ended 30 April 2024
Wholistic Medical Centre Ltd is a private company, limited by shares, registered in England and Wales, registration number 06016289. The registered office is Lower Ground Floor, 8 Upper Wimpole Street, London, W1G 6LH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £.
The following principal accounting policies have been applied:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives, on a reducing balance basis:
Wholistic Medical Centre Ltd
Notes to the Accounts
for the year ended 30 April 2024
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 recognized in the statement of income and retained earnings.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
Wholistic Medical Centre Ltd
Notes to the Accounts
for the year ended 30 April 2024
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 the statement of income and retained earnings 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.
Interest income is recognised in the statement of income and retained earnings using the effective interest method.
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 the statement of income and retained earnings 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.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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.
Wholistic Medical Centre Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
317,930
76,959
17,579
412,468
Additions
13,061
-
2,180
15,241
At 30 April 2024
330,991
76,959
19,759
427,709
At 1 May 2023
274,964
70,411
16,248
361,623
Charge for the year
12,682
1,637
600
14,919
At 30 April 2024
287,646
72,048
16,848
376,542
At 30 April 2024
43,345
4,911
2,911
51,167
At 30 April 2023
42,966
6,548
1,331
50,845
Amounts falling due within one year
Trade debtors
11,033
36,354
Amounts due from group undertakings etc.
2,029
-
Accrued income and prepayments
4,932
14,400
Other debtors
11,892
11,750
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
1,084
Trade creditors
1,008
2,805
Taxes and social security
60,244
68,914
Other creditors
13,877
12,304
Loans from directors
-
603
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Wholistic Medical Centre Ltd
Notes to the Accounts
for the year ended 30 April 2024
9
Operating lease commitments
2024
2023
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
51,500
86,400
Later than one year and not later than five years
239,990
43,200
The Company is controlled by its parent, Sundaya Ltd, a company incorporated in England and Wales. The registered office of the Company is 8 Upper Wimpole Street, London, W1G 6LH.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).