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REGISTERED NUMBER: 07653515 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Cordell Health Ltd

Cordell Health Ltd (Registered number: 07653515)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cordell Health Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr R F Cordell
Dr N J Cordell





REGISTERED OFFICE: 13 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH





REGISTERED NUMBER: 07653515 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Cordell Health Ltd (Registered number: 07653515)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 538,712 515,291
Tangible assets 5 127,497 112,500
666,209 627,791

CURRENT ASSETS
Debtors 6 1,769,229 1,523,786
Cash at bank and in hand 111,412 59,010
1,880,641 1,582,796
CREDITORS
Amounts falling due within one year 7 (1,963,999 ) (1,334,969 )
NET CURRENT (LIABILITIES)/ASSETS (83,358 ) 247,827
TOTAL ASSETS LESS CURRENT LIABILITIES 582,851 875,618

CREDITORS
Amounts falling due after more than one year 8 (248,121 ) (426,642 )

PROVISIONS FOR LIABILITIES (26,850 ) (27,269 )
NET ASSETS 307,880 421,707

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 307,877 421,704
307,880 421,707

Cordell Health Ltd (Registered number: 07653515)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





Dr N J Cordell - Director


Cordell Health Ltd (Registered number: 07653515)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Cordell Health Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company's principal estimates affecting the position shown in the accounts relates to the estimated useful life of intangible fixed assets and the recoverability of amounts advanced to companies under common control.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being amounts paid in connection with the acquisition of businesses, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost and 15% on reducing balance
Fixtures and fittings - 15% on cost and 15% on reducing balance
Computer equipment - 15% on cost and 15% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and 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 and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Cordell Health Ltd (Registered number: 07653515)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants received
Grants in respect of capital expenditure are credited to deferred income and are released to profit or loss over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to other income so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2023 - 69 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023 646,993 160,403 807,396
Additions 119,993 - 119,993
At 31 March 2024 766,986 160,403 927,389
AMORTISATION
At 1 April 2023 206,297 85,808 292,105
Charge for year 72,721 23,851 96,572
At 31 March 2024 279,018 109,659 388,677
NET BOOK VALUE
At 31 March 2024 487,968 50,744 538,712
At 31 March 2023 440,696 74,595 515,291

Cordell Health Ltd (Registered number: 07653515)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 178,919
Additions 42,904
At 31 March 2024 221,823
DEPRECIATION
At 1 April 2023 66,419
Charge for year 27,907
At 31 March 2024 94,326
NET BOOK VALUE
At 31 March 2024 127,497
At 31 March 2023 112,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 699,980 653,729
Other debtors 1,069,249 870,057
1,769,229 1,523,786

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 737,929 488,538
Trade creditors 109,346 159,035
Taxation and social security 271,858 149,498
Other creditors 844,866 537,898
1,963,999 1,334,969

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 248,121 426,642

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 44,858 15,619
Between one and five years 120,921 53,550
In more than five years - 66,938
165,779 136,107

Cordell Health Ltd (Registered number: 07653515)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. ULTIMATE CONTROLLING PARTY

There is no single ultimate controlling party.

11. SOCIAL ENTERPRISE UK

As required by Social Enterprise UK, our expenditure is recorded and reported separately to provide evidence that at least half of the profits are reinvested towards our social purpose. With regard to distribution, the majority of profit from the social enterprise is reinvested in our social mission. For the financial year 2023/24, there is distribution of profit to the shareholders of £0 (2023 - £0), with £1,980 (2023 - £1,620) expended on social enterprise activities.