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Westholme Clinic Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

Registration number: 2686988

 

Westholme Clinic Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Westholme Clinic Limited

(Registration number: 2686988)
Statement of financial position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

853,777

424,697

Current assets

 

Stocks

5

2,855

2,560

Debtors

6

1,520,882

1,335,146

Cash at bank and in hand

 

641,659

442,245

 

2,165,396

1,779,951

Creditors: Amounts falling due within one year

7

(1,141,694)

(783,470)

Net current assets

 

1,023,702

996,481

Total assets less current liabilities

 

1,877,479

1,421,178

Creditors: Amounts falling due after more than one year

7

(24,483)

(19,031)

Provisions for liabilities

(22,519)

(10,777)

Net assets

 

1,830,477

1,391,370

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

1,829,477

1,390,370

Shareholders' funds

 

1,830,477

1,391,370

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................
Mrs M Shoai-Naini
Director

 

Westholme Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
10 Clive Avenue
Goring by Sea
West Sussex
BN12 4SG

These financial statements were authorised for issue by the Board on 27 March 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Westholme Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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

2% straight line

Freehold improvements

4% straight line

Plant and machinery

20% reducing balance

Furniture, fittings and equipment

15% reducing balance

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 income statement 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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Westholme Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 55 (2023 - 43).

 

Westholme Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 July 2023

1,185,468

217,836

247,772

55,590

Additions

439,267

21,923

-

26,000

At 30 June 2024

1,624,735

239,759

247,772

81,590

Depreciation

At 1 July 2023

846,490

176,217

235,703

23,560

Charge for the year

38,130

7,391

2,414

10,174

At 30 June 2024

884,620

183,608

238,117

33,734

Carrying amount

At 30 June 2024

740,115

56,151

9,655

47,856

At 30 June 2023

338,978

41,619

12,069

32,031

Total
£

Cost or valuation

At 1 July 2023

1,706,666

Additions

487,190

At 30 June 2024

2,193,856

Depreciation

At 1 July 2023

1,281,970

Charge for the year

58,109

At 30 June 2024

1,340,079

Carrying amount

At 30 June 2024

853,777

At 30 June 2023

424,697

Included within the net book value of land and buildings above is £740,115 (2023 - £338,978) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

2,855

2,560

 

Westholme Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

475,958

355,791

Amounts owed by related parties

10

319,525

523,322

Other debtors

 

725,399

456,033

   

1,520,882

1,335,146

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

19,917

46,327

Trade creditors

 

11,763

10,703

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

367,549

104,064

Taxation and social security

 

384,516

214,218

Accruals and deferred income

 

52,981

59,118

Other creditors

 

304,968

349,040

 

1,141,694

783,470

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

24,483

19,031

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       
 

Westholme Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,795

19,031

Hire purchase contracts

15,688

-

24,483

19,031

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,327

46,327

Hire purchase contracts

9,590

-

19,917

46,327

10

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Miss S Shoai-Naini

Loan at 2.25% interest per annum

171,084

-

(7,307)

163,777

Mrs M Shoai-Naini

Loan at 2.25% interest per annum

169,137

258,552

-

427,689

2023

At 1 July 2022
£

Repayments by director
£

At 30 June 2023
£

Miss S Shoai-Naini

Loan at 2.25% interest per annum

281,407

(110,323)

171,084

Mrs M Shoai-Naini

Loan at 2.25% interest per annum

291,422

(122,285)

169,137