Company Registration No. NI071589 (Northern Ireland)
Malone Healthcare Ltd
Unaudited accounts
for the year ended 31 January 2024
Malone Healthcare Ltd
Unaudited accounts
Contents
Malone Healthcare Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
2,424,429
2,430,572
Debtors
1,190,203
1,208,711
Cash at bank and in hand
797
7,981
Creditors: amounts falling due within one year
(439,858)
(479,912)
Net current assets
759,009
743,932
Total assets less current liabilities
3,183,438
3,174,504
Creditors: amounts falling due after more than one year
(598,801)
(686,116)
Provisions for liabilities
Other provisions
(2,831)
(107,113)
Net assets
2,581,806
2,381,275
Called up share capital
2
2
Profit and loss account
2,581,804
2,381,273
Shareholders' funds
2,581,806
2,381,275
For the year ending 31 January 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 directors acknowledge their 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 of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Kevin McKinney
Director
Company Registration No. NI071589
Malone Healthcare Ltd
Notes to the Accounts
for the year ended 31 January 2024
Malone Healthcare Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI071589. The registered office is 23 Upper Lisburn Road, Finaghy, Belfast, BT10 0GW, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
20% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Malone Healthcare Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
4
Intangible fixed assets
Goodwill
At 1 February 2023
440,000
At 31 January 2024
440,000
At 1 February 2023
440,000
At 31 January 2024
440,000
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
2,400,000
208,841
2,608,841
At 31 January 2024
2,400,000
208,841
2,608,841
At 1 February 2023
-
178,269
178,269
Charge for the year
-
6,143
6,143
At 31 January 2024
-
184,412
184,412
At 31 January 2024
2,400,000
24,429
2,424,429
At 31 January 2023
2,400,000
30,572
2,430,572
Amounts falling due within one year
Trade debtors
62,247
22,886
Amounts due from group undertakings etc.
1,071,402
1,162,269
Accrued income and prepayments
33,454
456
Other debtors
23,100
23,100
Malone Healthcare Ltd
Notes to the Accounts
for the year ended 31 January 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
131,949
129,523
Trade creditors
38,936
49,426
Amounts owed to group undertakings and other participating interests
37,614
22,056
Taxes and social security
120,311
171,559
Other creditors
1,644
80,181
Loans from directors
61,067
(8,651)
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
598,801
686,116
9
Average number of employees
During the year the average number of employees was 28 (2023: 28).