Company registration number 06006418 (England and Wales)
BLACKWELL MEDICAL SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
BLACKWELL MEDICAL SERVICES LIMITED
COMPANY INFORMATION
Directors
Daleacre Holdings Limited
Mr I C Mckenzie
Mr J Such
Mr D R Evans
Mrs J A W Evans
Blackwell Holdings Limited
Company number
06006418
Registered office
11 Wilsthorpe Road
Breaston
Derby
Derbyshire
DE72 3EA
Auditor
Xeinadin Audit Ltd
i2 Mansfield, Office Suite 0.3
Hamilton Court
Oakham Business Park
Mansfield
Nottinghamshire
NG18 5FB
BLACKWELL MEDICAL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
BLACKWELL MEDICAL SERVICES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
87,119
90,023
Investment property
5
300,000
300,000
387,119
390,023
Current assets
Stocks
20,748
21,234
Debtors
6
910,916
832,252
Cash at bank and in hand
80,534
72,575
1,012,198
926,061
Creditors: amounts falling due within one year
7
(217,995)
(192,313)
Net current assets
794,203
733,748
Total assets less current liabilities
1,181,322
1,123,771
Creditors: amounts falling due after more than one year
8
(103,049)
(160,763)
Provisions for liabilities
(78,711)
(78,874)
Net assets
999,562
884,134
Capital and reserves
Called up share capital
9
6
6
Revaluation reserve
10
50,920
52,488
Profit and loss reserves
948,636
831,640
Total equity
999,562
884,134
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
Mr D R Evans
Mrs J A W Evans
Director
Director
Company registration number 06006418 (England and Wales)
BLACKWELL MEDICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Blackwell Medical Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Wilsthorpe Road, Breaston, Derby, Derbyshire, DE72 3EA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Related party exemption
The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions within the group.
The ultimate parent undertaking is Daleacre Holdings Limited and the results of the company are incorporated in its group accounts. The company is also incorporated in England and Wales, its registered office is 11 Wilsthorpe Road, Breaston, Derby, DE72 3EA.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% straight line
Fixtures and fittings
15% reducing balance
Computers
25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
BLACKWELL MEDICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving stock where appropriate.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
Debtors and creditors receivable/payable with a year
Debtors and creditors are recorded at transaction price receivable or payable within one year. Any losses arising from impairment are recognised in the profit and loss account within administrative expenses.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. They are subsequently measured at amortised cost using the effective interest rate method, less impairment.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
BLACKWELL MEDICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Investment property valuations
The basis of valuation is shown in the accounting policies and in note 5 below.
Fixed asset investment valuations
The basis of valuation is shown in the accounting policies.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
6
BLACKWELL MEDICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 August 2023 and 31 July 2024
100,000
30,567
18,242
5,799
154,608
Depreciation and impairment
At 1 August 2023
16,000
24,544
18,242
5,799
64,585
Depreciation charged in the year
2,000
904
2,904
At 31 July 2024
18,000
25,448
18,242
5,799
67,489
Carrying amount
At 31 July 2024
82,000
5,119
87,119
At 31 July 2023
84,000
6,023
90,023
Land and buildings with a carrying amount of £82,000 were revalued at 7 August 2019 by W A Barnes LLP, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
The revaluation surplus is disclosed in note 10.
Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £17,710 (2023 - £18,142), being cost £21,598 (2023 - £21,598) and depreciation of £3,888 (2023 - £3,456).
5
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
300,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 7 August 2019 by W A Barnes, LLP, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Investment properties are carried at valuation. If investment properties were measured using the cost model, the carrying amounts would have been approximately £64,793 (2023 - £64,793).
BLACKWELL MEDICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
123,668
94,255
Amounts owed by group undertakings
773,031
725,717
Other debtors
14,217
12,280
910,916
832,252
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
55,626
53,536
Trade creditors
150,169
127,027
Accruals and deferred income
12,200
11,750
217,995
192,313
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
103,049
160,763
The bank loan is secured by a first legal charge over the freehold property and a debenture over the company's assets.
9
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
6
6
10
Revaluation reserve
2024
2023
£
£
At the beginning of the year
52,488
54,056
Depreciation
(1,568)
(1,568)
At the end of the year
50,920
52,488
BLACKWELL MEDICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Russell Eley FCCA
Statutory Auditor:
Xeinadin Audit Ltd
Date of audit report:
29 April 2025
12
Contingent Liability
The company is party to a cross guarantee agreement with HSBC bank with fellow group companies, Blackwell Holdings Ltd, Daleacre Holdings Ltd and Daleacre Healthcare Ltd. The company is potentially liable for £1,355,586 however the directors do not consider that this guarantee will be called upon.
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