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Registration number: 07341143

Cavenagh Health Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Cavenagh Health Limited
(Registration number: 07341143)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Cavenagh Health Limited
(Registration number: 07341143)

Company Information

Directors

N Ross

S Murtagh

Registered office

Unit 2 Fordham House
Fordham
Cambridgeshire
CB7 5LL

Registered number

07341143

 

Cavenagh Health Limited
(Registration number: 07341143)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Intangible assets

4

96,000

108,000

Tangible Assets

5

26,259

30,228

Investments

6

17,902

-

 

140,161

138,228

Current assets

 

Debtors

7

172,276

40,279

Cash at bank and in hand

 

325,759

509,645

 

498,035

549,924

Creditors: Amounts falling due within one year

8

(220,908)

(232,238)

Net current assets

 

277,127

317,686

Total assets less current liabilities

 

417,288

455,914

Creditors: Amounts falling due after more than one year

8

(5,000)

(40,999)

Net assets

 

412,288

414,915

Capital and Reserves

 

Called up share capital

201

201

Retained Earnings

412,087

414,714

Shareholders' funds

 

412,288

414,915

 

Cavenagh Health Limited
(Registration number: 07341143)

Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 16 April 2025 and signed on its behalf by:
 

.........................................
S Murtagh
Director

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Unit 2 Fordham House
Fordham
Cambridgeshire
CB7 5LL
England

These financial statements were authorised for issue by the Board on 16 April 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

Tangible Assets

Tangible Assets are stated in the balance sheet 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

Motor Vehicles

20% Reducing Balance

Office equipment

20% Reducing Balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class

Amortisation method and rate

Intangible assets

10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares, including wholly owned subsidiaries, which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 profit and loss account 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 balance sheet as a finance lease obligation.

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

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 9).

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Intangible assets
£

Total
£

Cost

At 1 January 2024

120,000

120,000

At 31 December 2024

120,000

120,000

Amortisation

At 1 January 2024

12,000

12,000

Amortisation charge

12,000

12,000

At 31 December 2024

24,000

24,000

Carrying amount

At 31 December 2024

96,000

96,000

At 31 December 2023

108,000

108,000

5

Tangible Assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost

At 1 January 2024

839

47,090

47,929

Additions

2,338

-

2,338

At 31 December 2024

3,177

47,090

50,267

Depreciation

At 1 January 2024

246

17,455

17,701

Charge for the year

380

5,927

6,307

At 31 December 2024

626

23,382

24,008

Carrying amount

At 31 December 2024

2,551

23,708

26,259

At 31 December 2023

593

29,635

30,228

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

17,902

-

Subsidiaries

£

Cost or valuation

Additions

17,902

Carrying amount

At 31 December 2024

17,902

On 6th November 2024, Cavenagh Health GmbH was registered in Switzerland under registration CHE-457.423.191. The company's share capital is CHF 20,000.

This company is 100% owned by Cavenagh Health Limited.

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

2024
£

2023
£

Trade Debtors

87,603

24,741

Prepayments

4,494

7,951

Other debtors

80,179

7,587

 

172,276

40,279

Other debtors includes £57,147 (2023 - £nil) due from Cavenagh Health GmbH, a company which is 100% owned by Cavenagh Health Limited.

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

35,999

17,215

Trade creditors

 

26,204

51,761

Taxation and social security

 

155,463

161,882

Accruals and deferred income

 

3,242

1,380

 

220,908

232,238

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,000

40,999

 

Cavenagh Health Limited
(Registration number: 07341143)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

25,999

7,215

35,999

17,215


 

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

15,000

Hire purchase contracts

-

25,999

5,000

40,999