Company Registration No. 09202681 (England and Wales)
Cardinal Healthcare Properties Limited
Unaudited accounts
for the period from 1 April 2023 to 30 June 2024
Cardinal Healthcare Properties Limited
Unaudited accounts
Contents
Cardinal Healthcare Properties Limited
Company Information
for the period from 1 April 2023 to 30 June 2024
Directors
A M Fairburn
P A Dorai
Company Number
09202681 (England and Wales)
Registered Office
72a Canterbury Street
Cambridge
CB4 3QF
Accountants
Accountancy Plus & Payroll People Ltd
9 Langley Street
Langley
Norwich
Norfolk
NR14 6DE
Cardinal Healthcare Properties Limited
Statement of financial position
as at 30 June 2024
Investment property
-
856,623
Cash at bank and in hand
251
485,470
Creditors: amounts falling due within one year
(44,658)
(2,217,450)
Net current assets/(liabilities)
456,102
(833,201)
Total assets less current liabilities
456,105
25,153
Creditors: amounts falling due after more than one year
(426,934)
(33,267)
Provisions for liabilities
Net assets/(liabilities)
29,171
(25,214)
Called up share capital
100
100
Fair value reserve
-
53,403
Profit and loss account
29,071
(78,717)
Shareholders' funds
29,171
(25,214)
For the period ending 30 June 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
A M Fairburn
Director
Company Registration No. 09202681
Cardinal Healthcare Properties Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2024
Cardinal Healthcare Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09202681. The registered office is 72a Canterbury Street, Cambridge, CB4 3QF.
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 period, 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.
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reaching balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Cash is represented by cash in hand and deposits with financial institutions repayable within 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 know amounts of cash with insignificant risk of change in value.
Cardinal Healthcare Properties Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2024
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in ordinary shares.
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
Finance costs are charged to the profit or loss over the terms of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeded of the associated capital instrument.
All borrowing costs are recognised in the profit or loss in the in which they are incurred.
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.
Other reserves represents the aggregate cumulative revaluation of the properties. All of which have now been recognised in the profit & loss account in the period following the transfer of the properties.
4
Intangible fixed assets
Other
Cardinal Healthcare Properties Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
2,673
1,225
3,898
Disposals
(3,145)
(2,592)
(5,737)
At 1 April 2023
1,546
624
2,170
Charge for the period
499
615
1,114
On disposals
(2,045)
(1,239)
(3,284)
At 31 March 2023
1,127
601
1,728
Fair value at 1 April 2023
856,623
Transfers from tangible fixed assets
400,843
The company reclassified stock in the period to investment property. All properties were transferred at market value to a fellow group member. The properties were professionally valued by, Fenn Wright in December 2023.
The company reclassified stock in the period to investment property
Amounts falling due within one year
Accrued income and prepayments
498,764
488,763
Cardinal Healthcare Properties Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 June 2024
9
Creditors: amounts falling due within one year
2024
2023
Trade creditors
34,811
1,960
Taxes and social security
8,947
21,045
Loans from directors
-
2,191,436
10
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
393,667
-
Taxes and social security
33,267
33,267
11
Transactions with related parties
The company has taken advantage of the exemption in Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned companies within the group.
The ultimate parent company is Cardinal Healthcare Group Ltd (15570716) . The registered office is 72a Canterbury Street, Cambridge, England, CB4 3QF.
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Average number of employees
During the period the average number of employees was 2 (2023: 2).