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Registered number: 13273865










BOWBURN HEALTHCARE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
BOWBURN HEALTHCARE LTD
REGISTERED NUMBER: 13273865

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,513,185
1,513,185

  
1,513,185
1,513,185

Current assets
  

Debtors: amounts falling due within one year
 5 
9,371
614

Cash at bank and in hand
 6 
2,227
7,693

  
11,598
8,307

Creditors: amounts falling due within one year
 7 
(1,299,917)
(1,262,938)

Net current liabilities
  
 
 
(1,288,319)
 
 
(1,254,631)

Total assets less current liabilities
  
224,866
258,554

Creditors: amounts falling due after more than one year
 8 
(223,700)
(256,613)

  

Net assets
  
1,166
1,941


Capital and reserves
  

Called up share capital 
 10 
204
204

Profit and loss account
  
962
1,737

  
1,166
1,941


Page 1

 
BOWBURN HEALTHCARE LTD
REGISTERED NUMBER: 13273865
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 March 2025.




Mr K A Simpson
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
BOWBURN HEALTHCARE LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
200
(18,239)
(18,039)



Profit for the year
-
80,412
80,412

Dividends: Equity capital
-
(60,436)
(60,436)

Shares issued during the year
4
-
4



At 1 July 2023
204
1,737
1,941



Profit for the year
-
113,406
113,406

Dividends: Equity capital
-
(114,181)
(114,181)


At 30 June 2024
204
962
1,166


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Bowburn Healthcare Ltd is a private company limited by shares incorporated in England and Wales, registration number 13273865. The registered office is Lakeside House, Kingfisher Way, Stockton-On-Tees, TS18 3NB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

At the year end the company reported net assets of £1,166. However, liabilities include £1,263,715 owed to associated and group undertakings. The directors of the company have indicated their willingness to finance any shortages in the company's day to day finances and for such an arrangement continue for a period of not less than one year from the date the financial statements were approved.
The company meets its day to day working capital requirements through shareholder and external borrowings.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore has adopted the going concern basis in preparing its financial statements.

Page 4

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term 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 proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

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.

Page 5

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without 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 to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
1,513,185



At 30 June 2024
1,513,185




Page 6

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
7,200
-

Other debtors
2,171
614

9,371
614



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,227
7,693

2,227
7,693



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,913
31,937

Amounts owed to group undertakings
448,035
414,035

Amounts owed to associates
815,680
815,680

Corporation tax
62
-

Accruals and deferred income
3,227
1,286

1,299,917
1,262,938


The following liabilities were secured:

2024
2023
£
£



Bank loans
32,913
31,937

32,913
31,937

Bank loans are secured by a fixed and floating charge against the assets of the company.

Page 7

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
223,700
256,613

223,700
256,613


The following liabilities were secured:

2024
2023
£
£



Bank loans
223,700
256,613

223,700
256,613

Details of security provided:

Bank loans are secured by a fixed and floating charge against the assets of the company.

Page 8

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
32,913
31,937


32,913
31,937

Amounts falling due 1-2 years

Bank loans
33,994
32,913


33,994
32,913

Amounts falling due 2-5 years

Bank loans
108,128
104,986


108,128
104,986

Amounts falling due after more than 5 years

Bank loans
81,578
118,715

81,578
118,715

256,613
288,551



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,100 (2023 - 1,100) Ordinary A Shares shares of £0.10 each
110
110
900 (2023 - 900) Ordinary B Shares shares of £0.10 each
90
90
20 (2023 - 20) Ordinary C Shares shares of £0.10 each
2
2
20 (2023 - 20) Ordinary D Shares shares of £0.10 each
2
2

204

204


Page 9

 
BOWBURN HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Related party transactions

During the period, the company received management charge income totalling £11,000 (2023 - £12,179) from its subsidiary undertaking.
Included within amounts owed to group undertakings is an amount of £448,035 (2023 - £414,035) due to The Bowburn Pharmacy Company Limited.
Included within amounts owed to associates is an amount of £815,680 (2023 - £815,680) due to Knightingales Limited. Mr D G Jarvis, Mr K A Simpson and Mrs A J Simpson are directors and shareholders of Knightingales Limited.

 
Page 10