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REGISTERED NUMBER: 05689439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TRUST HEALTH LIMITED

TRUST HEALTH LIMITED (REGISTERED NUMBER: 05689439)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TRUST HEALTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mrs S Barr
P Howard
B J Milstead





REGISTERED OFFICE: Park House
North Street
Horsham
West Sussex
RH12 1RN





REGISTERED NUMBER: 05689439 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

TRUST HEALTH LIMITED (REGISTERED NUMBER: 05689439)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 9,433 10,128
Investments 4 138,374 138,374
147,807 148,502

CURRENT ASSETS
Debtors 5 420,763 384,492
Cash at bank and in hand 1,556,963 1,258,113
1,977,726 1,642,605
CREDITORS
Amounts falling due within one year 6 527,916 396,005
NET CURRENT ASSETS 1,449,810 1,246,600
TOTAL ASSETS LESS CURRENT LIABILITIES 1,597,617 1,395,102

PROVISIONS FOR LIABILITIES 8 78,404 44,264
NET ASSETS 1,519,213 1,350,838

CAPITAL AND RESERVES
Called up share capital 9 6,789 6,722
Share premium 561,648 555,045
Retained earnings 950,776 789,071
SHAREHOLDERS' FUNDS 1,519,213 1,350,838

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 28 February 2025 and were signed on its behalf by:





Mrs S Barr - Director


TRUST HEALTH LIMITED (REGISTERED NUMBER: 05689439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. 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.

Preparation of consolidated financial statements
The financial statements contain information about Trust Health Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Share-based payments
The Company has granted share options ('equity-settled share-based payments') to certain employees.

Equity-settled share-based payments are measured at the fair value at the grant date by reference to the fair value of the equity instrument using the Black-Scholes model.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 21 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 15,587 90,742 106,329
Additions - 4,400 4,400
At 31 December 2024 15,587 95,142 110,729
DEPRECIATION
At 1 January 2024 10,535 85,666 96,201
Charge for year 2,305 2,790 5,095
At 31 December 2024 12,840 88,456 101,296
NET BOOK VALUE
At 31 December 2024 2,747 6,686 9,433
At 31 December 2023 5,052 5,076 10,128

TRUST HEALTH LIMITED (REGISTERED NUMBER: 05689439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 138,374
NET BOOK VALUE
At 31 December 2024 138,374
At 31 December 2023 138,374

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 153,725 115,137
Amounts owed by group undertakings 2,672 14,604
Other debtors 4,210 3,310
Prepayments and accrued income 260,156 251,441
420,763 384,492

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 12,373 25,731
Tax 335,777 247,957
Social security and other taxes 45,288 34,780
VAT 89,605 67,986
Other creditors 13,519 4,119
Accruals and deferred income 31,354 15,432
527,916 396,005

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 10,644 37,000
Between one and five years - 10,644
10,644 47,644

8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Accelerated capital allowances 2,358 2,532
Sales rebates 76,046 41,732
78,404 44,264

TRUST HEALTH LIMITED (REGISTERED NUMBER: 05689439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 January 2024 2,532 41,732
Provided during year - 76,046
Credit to Income Statement during year (174 ) -
Utilised during year - (41,732 )
Balance at 31 December 2024 2,358 76,046

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
67,221 Ordinary £0.10 6,789 6,722

667 Ordinary shares of £0.10 each were allotted as fully paid at a premium of £9.90 per share during the year.

TRUST HEALTH LIMITED (REGISTERED NUMBER: 05689439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. SHARE-BASED PAYMENT TRANSACTIONS

The company operates an equity-settled share option scheme for certain employees. Options are granted with vesting conditions linked to the achievement of specific earnings before interest and tax (EBIT) targets for each financial year. Options vest and become exercisable within one month of the company's financial statements being approved.

Even if the EBIT targets for individual years are not met, vested options remain exercisable in subsequent years. The maximum term for options granted under this scheme is ten years from the grant date, after which unexercised options will lapse.

All options are settled through the issuance of equity shares upon exercise.

Options are forfeited if the employee leaves the company before they become entitled to exercise the share options. Should the employee leave the company at any time prior to the sale of the Company then exercised option shares must be sold back to the company at the exercise price.




Share
options


Weighted
average
exercise price
£
Outstanding at 1 January 202466710.00
Granted during the period--
Forfeited during the period--
Exercised during the period(667)10.00
Expired during the period--
Outstanding at 31 December 2024--

Exercisable at 31 December 2024--

The weighted average fair value of options granted in the year was determined using the Black-Scholes option pricing model. The Black-Scholes model is considered to apply the most appropriate valuation method due to the relatively short contractual lives of the options and the requirement to exercise within a short period after the employee becomes entitled to the shares (the "vesting date").

The expected life used in the model has been adjusted, based on management's best estimate, for the effect of non-transferability, exercise restrictions and behavioural considerations.

Non-vesting conditions and market conditions are taken into account when estimating the fair value of the option at grant date. Service conditions and non-market performance conditions are taken into account by adjusting the number of options expected to vest at each reporting date.

The total charge for the period was £Nil (2023: £Nil).