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Filleted
Registration number: 05294079

Tilmala Healthcare Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Tilmala Healthcare Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Tilmala Healthcare Limited

Company Information

Directors

Mr David Ifor Lewis

Mr William Sion Lewis

Mr Steffan Rhys Lewis

Registered office

1 North Road
Aberaeron
Dyfed
SA46 0JD

 

Tilmala Healthcare Limited

(Registration number: 05294079)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

106,128

98,436

Current assets

 

Debtors

5

141,881

309,678

Creditors: Amounts falling due within one year

6

(173,411)

(93,724)

Net current (liabilities)/assets

 

(31,530)

215,954

Total assets less current liabilities

 

74,598

314,390

Provisions for liabilities

(26,532)

(12,109)

Net assets

 

48,066

302,281

Capital and reserves

 

Called up share capital

7

3,000

3,000

Retained earnings

45,066

299,281

Shareholders' funds

 

48,066

302,281

For the financial year ending 31 August 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................
Mr Steffan Rhys Lewis
Director

   
     
 

Tilmala Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
1 North Road
Aberaeron
Dyfed
SA46 0JD

The principal place of business is:
Plas Gwyn
Llanrhystud
SY23 5BY

These financial statements were authorised for issue by the Board on 30 May 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.

 

Tilmala Healthcare Limited

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

Tax

The tax expense for the period comprises current and deferred 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.

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

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

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.

 

Tilmala Healthcare Limited

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

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.

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.

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 20 (2023 - 18).

 

Tilmala Healthcare Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

124,192

12,353

136,545

Additions

43,751

-

43,751

At 31 August 2024

167,943

12,353

180,296

Depreciation

At 1 September 2023

35,638

2,471

38,109

Charge for the year

33,589

2,470

36,059

At 31 August 2024

69,227

4,941

74,168

Carrying amount

At 31 August 2024

98,716

7,412

106,128

At 31 August 2023

88,554

9,882

98,436

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

27,674

Amounts owed by related parties

8

135,370

271,682

Prepayments

 

1,511

1,545

Other debtors

 

5,000

8,777

   

141,881

309,678

 

Tilmala Healthcare Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

19,762

19,994

Taxation and social security

 

13,539

5,774

Outstanding defined contribution pension costs

 

1,176

1,056

Other creditors

 

4,341

5,922

Corporation tax liability

 

134,593

60,978

 

173,411

93,724

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2,000

2,000

2,000

2,000

Ordinary A Shares of £9.43 each

106

1,000

106

1,000

2,106

3,000

2,106

3,000

8

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Repayments by director
£

At 31 August 2024
£

Mr David Ifor Lewis

Mr DI Lewis

8,778

(8,778)

-

 

Tilmala Healthcare Limited

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

2023

At 1 September 2022
£

Advances to director
£

At 31 August 2023
£

Mr David Ifor Lewis

Mr DI Lewis

-

8,778

8,778

9

Parent and ultimate parent undertaking

The parent company, Tycoch Villa Ltd acquired the entire share capital of the company on 17 December 2021.

 The company's immediate parent is Tycoch Villa, incorporated in Wales.