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Registration number: 13173653

Prepared for the registrar

Concert Healthcare No 2 Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 March 2023 to 31 May 2024

 

Concert Healthcare No 2 Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Concert Healthcare No 2 Ltd

Company Information

Director

S Coombes

Registered office

Strawberry Fields Hub
Euxton Lane
Chorley
Lancashire
PR7 1PS

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Concert Healthcare No 2 Ltd

(Registration number: 13173653)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,441,857

8,177,578

Current assets

 

Debtors

5

3,875

220,019

Cash at bank and in hand

 

80,954

212,294

 

84,829

432,313

Creditors: Amounts falling due within one year

6

(2,460,499)

(2,644,125)

Net current liabilities

 

(2,375,670)

(2,211,812)

Total assets less current liabilities

 

8,066,187

5,965,766

Creditors: Amounts falling due after more than one year

6

(9,690,569)

(6,247,623)

Net liabilities

 

(1,624,382)

(281,857)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(1,624,482)

(281,957)

Shareholders' deficit

 

(1,624,382)

(281,857)

For the financial period ending 31 May 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 accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 February 2025
 


S Coombes
Director

 

Concert Healthcare No 2 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 May 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Strawberry Fields Hub
Euxton Lane
Chorley
Lancashire
PR7 1PS
England

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

50 years straight line

Furniture, fittings and equipment

1 - 4 years straight line

 

Concert Healthcare No 2 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Concert Healthcare No 2 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 May 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
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 profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Concert Healthcare No 2 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 May 2024

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was as follows:

Freehold land and buildings includes land of £1,169,564 (2023 - £1,169,564) which is not depreciated.

 

5

Debtors

31 May 2024
 £

28 February 2023
 £

Trade debtors

-

-

Other debtors

3,875

220,019

 

3,875

220,019

 

Concert Healthcare No 2 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 May 2024

 

6

Creditors

31 May 2024
 £

28 February 2023
 £

Due within one year

Trade creditors

110,253

-

Amounts due to related parties

2,341,412

2,641,625

Accrued expenses

8,834

2,500

2,460,499

2,644,125

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

9,690,569

6,247,623

 

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

9,690,569

6,247,623

Bank borrowings are secured and are wholly repayable within 5 years.

 

8

Parent and ultimate parent undertaking

The ultimate controlling party is S Coombes.

 

9

Disclosure under Section 444 (5B) CA 2006

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. These accounts are unaudited.