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Registration number: 11412587

Bax Healthcare Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Bax Healthcare Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Bax Healthcare Ltd

(Registration number: 11412587)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

52,000

65,000

Tangible assets

5

1,499

2,059

 

53,499

67,059

Current assets

 

Debtors

6

40,316

36,503

Cash at bank and in hand

 

6,862

6,770

 

47,178

43,273

Creditors: Amounts falling due within one year

7

(22,128)

(21,545)

Net current assets

 

25,050

21,728

Total assets less current liabilities

 

78,549

88,787

Creditors: Amounts falling due after more than one year

7

(77,967)

(88,167)

Provisions for liabilities

(285)

(391)

Net assets

 

297

229

Capital and reserves

 

Called up share capital

100

100

Retained earnings

197

129

Shareholders' funds

 

297

229

 

Bax Healthcare Ltd

(Registration number: 11412587)
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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 April 2025
 

.........................................
Mr P Baxter
Director

 

Bax Healthcare Ltd

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:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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.

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

 

Bax Healthcare Ltd

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

Tax

The tax expense for the period comprises current tax.

The current 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.

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

Fixtures, fittings and equipment

20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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:

Asset class

Amortisation method and rate

Goodwill

Straight line basis over 10 years

 

Bax Healthcare Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Bax Healthcare Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

130,000

130,000

At 31 December 2024

130,000

130,000

Amortisation

At 1 January 2024

65,000

65,000

Amortisation charge

13,000

13,000

At 31 December 2024

78,000

78,000

Carrying amount

At 31 December 2024

52,000

52,000

At 31 December 2023

65,000

65,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

4,299

4,299

Additions

323

323

At 31 December 2024

4,622

4,622

Depreciation

At 1 January 2024

2,240

2,240

Charge for the year

883

883

At 31 December 2024

3,123

3,123

Carrying amount

At 31 December 2024

1,499

1,499

At 31 December 2023

2,059

2,059

 

Bax Healthcare Ltd

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

6

Debtors

Current

2024
£

2023
£

Other debtors

40,316

36,503

 

40,316

36,503

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

12,001

12,001

Trade creditors

 

-

150

Taxation and social security

 

1,027

378

Other creditors

 

9,100

9,016

 

22,128

21,545

Current loans and borrowings

2024
£

2023
£

Other borrowings

12,001

12,001

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

77,967

88,167

 

Bax Healthcare Ltd

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

77,967

88,167

Current loans and borrowings

2024
£

2023
£

Other borrowings

12,001

12,001

Included in other borrowings is a loan amounting to £27,466 (2023: £32,486) which is secured by guarantee of the UK Government under BBLS.