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Registration number: 05591785

Skolak Healthcare Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Skolak Healthcare Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

Skolak Healthcare Limited

(Registration number: 05591785)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

455,143

476,313

Current assets

 

Debtors

6

1,069,808

433,634

Cash at bank and in hand

 

380,362

838,302

 

1,450,170

1,271,936

Creditors: Amounts falling due within one year

7

(943,124)

(891,277)

Net current assets

 

507,046

380,659

Total assets less current liabilities

 

962,189

856,972

Creditors: Amounts falling due after more than one year

7

(272,890)

(358,843)

Net assets

 

689,299

498,129

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

689,199

498,029

Shareholders' funds

 

689,299

498,129

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 15 April 2025 and signed on its behalf by:
 

.........................................
Mr S Ogungbola
Director

 

Skolak Healthcare Limited

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:
Castle House
Castle Street
Tyldesley
Manchester
M29 8EG

The principal place of business is:
Beechill Nursing Home
25 Smedley Lane
Cheetham Hill
Manchester
M8 8XB

These financial statements were authorised for issue by the Board on 15 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.

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 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.

 

Skolak Healthcare Limited

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

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

Long leasehold property

2.5% per annum straight line basis

Fixtures and fittings

15% per annum straight line basis

Equipment

5% & 15% per annum straight line basis

Plant and machinery

5% & 15% per annum straight line basis

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goowill is amortised over its useful life.

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

Over 15 years straight line basis

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Skolak Healthcare Limited

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

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 75 (2023 - 125).

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 January 2024

60,000

60,000

At 31 December 2024

60,000

60,000

Amortisation

At 1 January 2024

60,000

60,000

At 31 December 2024

60,000

60,000

Net book value

At 31 December 2024

-

-

At 31 December 2023

-

-

 

Skolak Healthcare Limited

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

5

Tangible assets

Long leasehold property
£

Fixtures, fittings and equipment
£

Plant and machinery
£

Total
£

Cost

At 1 January 2024

846,780

28,212

64,997

939,989

At 31 December 2024

846,780

28,212

64,997

939,989

Depreciation

At 1 January 2024

370,467

28,212

64,997

463,676

Charge for the year

21,170

-

-

21,170

At 31 December 2024

391,637

28,212

64,997

484,846

Net book value

At 31 December 2024

455,143

-

-

455,143

At 31 December 2023

476,313

-

-

476,313

6

Debtors

2024
£

2023
£

Other debtors

1,049,164

407,441

Prepayments

2,879

14,865

Accrued income

17,765

11,328

1,069,808

433,634

 

Skolak Healthcare Limited

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

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

91,480

99,622

Trade creditors

 

162,700

146,462

Taxation and social security

 

134,758

92,284

Accruals and deferred income

 

469,785

413,822

Other creditors

 

84,401

139,087

 

943,124

891,277

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

272,890

358,843

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

1,000

100

1,000

100

       
 

Skolak Healthcare Limited

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

9

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

At 31 December 2024
£

Loans to director

-

549,467

549,467

Summary of transactions with entities with joint control or significant interest

Skolak Properties Limited
 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

407,441

407,441

Advanced

92,257

92,257

At end of period

499,698

499,698

2023

Other related parties
£

Total
£

At start of period

256,392

256,392

Advanced

151,049

151,049

At end of period

407,441

407,441

 

Skolak Healthcare Limited

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

272,890

358,843

Current loans and borrowings

2024
£

2023
£

Bank borrowings

91,480

98,987

Other borrowings

-

635

91,480

99,622