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REGISTERED NUMBER: SC294416 (Scotland)










BAINS HEALTHCARE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)






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


BAINS HEALTHCARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr R S Bains
Ms H Bains





REGISTERED OFFICE: Flat 4/1
351 Glasgow Harbour Terraces
Glasgow
G11 6DJ





REGISTERED NUMBER: SC294416 (Scotland)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 38,089 46,035
Tangible assets 5 421,673 376,634
Investments 6 38,050 38,050
497,812 460,719

CURRENT ASSETS
Stocks 3,300 3,358
Debtors 7 1,469,422 684,465
Cash at bank and in hand 854,685 1,237,646
2,327,407 1,925,469
CREDITORS
Amounts falling due within one year 8 (354,280 ) (159,233 )
NET CURRENT ASSETS 1,973,127 1,766,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,470,939

2,226,955

CREDITORS
Amounts falling due after more than one
year

9

(451,401

)

(536,076

)

PROVISIONS FOR LIABILITIES (63,993 ) (17,223 )
NET ASSETS 1,955,545 1,673,656

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,955,445 1,673,556
SHAREHOLDERS' FUNDS 1,955,545 1,673,656

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.

BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





Dr R S Bains - Director


BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)

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

1. STATUTORY INFORMATION

Bains Healthcare Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty 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.

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 reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 158,928
AMORTISATION
At 1 April 2023 112,893
Amortisation for year 7,946
At 31 March 2024 120,839
NET BOOK VALUE
At 31 March 2024 38,089
At 31 March 2023 46,035

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 148,175 341,422 105,765 33,763 629,125
Additions - 93,256 - - 93,256
At 31 March 2024 148,175 434,678 105,765 33,763 722,381
DEPRECIATION
At 1 April 2023 - 132,416 88,345 31,730 252,491
Charge for year - 45,096 2,613 508 48,217
At 31 March 2024 - 177,512 90,958 32,238 300,708
NET BOOK VALUE
At 31 March 2024 148,175 257,166 14,807 1,525 421,673
At 31 March 2023 148,175 209,006 17,420 2,033 376,634

BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 38,050
NET BOOK VALUE
At 31 March 2024 38,050
At 31 March 2023 38,050

7. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 134,533 109,384
Other debtors 365,955 375,955
500,488 485,339

Amounts falling due after more than one year:
Trade debtors 818,462 199,126
Other debtors 150,472 -
968,934 199,126

Aggregate amounts 1,469,422 684,465

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 112,763 80,126
Taxation and social security 116,213 71,536
Other creditors 125,304 7,571
354,280 159,233

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 449,145 531,420
Hire purchase contracts 2,256 4,656
451,401 536,076

BAINS HEALTHCARE LIMITED (REGISTERED NUMBER: SC294416)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Funding circle loan 139,024 195,511
Natwest- Business Term Loan 310,121 335,909
449,145 531,420

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within the other creditors , the amount owed to directors is £115,704 (2023 £377).The loans are interest free and with no fixed date of repayment.

11. RELATED PARTY DISCLOSURES

The rent for the use of the business premises was paid to the director, Mr R S Bains on normal commercial terms. The amount for the period was £6,000 (2023: £12,000).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Dr R S Bains.