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REGISTERED NUMBER: SC421618 (Scotland)















SALVEAS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






SALVEAS LIMITED (REGISTERED NUMBER: SC421618)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SALVEAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: R S Brand
C Boothby
T G M Cormack
K Patrick
E A Preston
K M Stephens
S J Reddie





REGISTERED OFFICE: F5, Buchan House
Carnegie Campus, Enterprise Way
Dunfermline
Fife
KY11 8PL





REGISTERED NUMBER: SC421618 (Scotland)





AUDITORS: Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

SALVEAS LIMITED (REGISTERED NUMBER: SC421618)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 4 236,492 -
Tangible assets 5 47,188 58,064
283,680 58,064

CURRENT ASSETS
Debtors 6 937,098 1,992,778
Cash at bank 609,080 1,270,802
1,546,178 3,263,580
CREDITORS
Amounts falling due within one year 7 204,453 808,686
NET CURRENT ASSETS 1,341,725 2,454,894
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,625,405

2,512,958

PROVISIONS FOR LIABILITIES 68,844 12,830
NET ASSETS 1,556,561 2,500,128

CAPITAL AND RESERVES
Called up share capital 12,505 12,505
Other reserves 2,500 2,500
Retained earnings 1,541,556 2,485,123
1,556,561 2,500,128

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by:





R S Brand - Director


SALVEAS LIMITED (REGISTERED NUMBER: SC421618)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. COMPANY INFORMATION

Salveas Limited is a private company, limited by shares, incorporated in Scotland. The registered office address is F5, Buchan House, Carnegie Campus, Enterprise Way, Dunfermline, Fife, Scotland, KY11 8PL. The company's registered number is SC421618.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

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

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Research and development

The directors use their judgement to determine when the research phase ends and the development
phase begins.

Other key sources of estimation uncertainty

Intangible fixed assets

The directors estimate the useful life and residual values of intangible fixed assets based on their
knowledge of the market and the remaining life of the asset.

Turnover
Turnover represents sales during the year adjusted for accrued and deferred income where applicable. Turnover is exempt from value added tax.

Turnover is recognised on the provision of medical services.

Intangible fixed assets
Software development costs recognised represent the capital expenditure on the development of the entity's projects. No amortisation is provided on the development costs as the asset was not available for use as at the balance sheet date. Amortisation will be provided when the asset is available for use.

SALVEAS LIMITED (REGISTERED NUMBER: SC421618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold improvements- 25% reducing balance
Fixtures and fittings- 25% reducing balance
Plant and machinery- 33% reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Income and Retained Earnings.

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating lease commitments
Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the period of the lease.

Research and development
Expenditure on research is written off in the year in which it is incurred. Expenditure on the development of software is capitalised once the following has been demonstrated:

-The technical feasibility of completing the intangible asset so that it will be available for use or sale;
-The intention to complete the intangible asset and use or sell it;
-The ability to use or sell the intangible asset;
-How the intangible asset will generate probable future economic benefits;
-The availability of adequate technical, financial and other resources to complete the development and to
use or sell the intangible asset; and
-The ability to measure reliably the expenditure attributable to the intangible asset during its development.

SALVEAS LIMITED (REGISTERED NUMBER: SC421618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Statement of Income and Retained Earnings in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 51 ) .

4. INTANGIBLE FIXED ASSETS
Software
development
costs
£
COST
Additions 236,492
At 30 September 2024 236,492
NET BOOK VALUE
At 30 September 2024 236,492

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings Totals
£ £ £ £
COST
At 1 October 2023 14,311 92,004 45,020 151,335
Additions 4,488 2,292 - 6,780
At 30 September 2024 18,799 94,296 45,020 158,115
DEPRECIATION
At 1 October 2023 6,209 70,758 16,304 93,271
Charge for year 2,680 6,533 8,443 17,656
At 30 September 2024 8,889 77,291 24,747 110,927
NET BOOK VALUE
At 30 September 2024 9,910 17,005 20,273 47,188
At 30 September 2023 8,102 21,246 28,716 58,064

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 594,187 1,714,784
Other debtors 2,000 2,842
Corporation tax 312,183 106,585
Prepayments and accrued income 28,728 168,567
937,098 1,992,778

SALVEAS LIMITED (REGISTERED NUMBER: SC421618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 59,621 348,902
Social security and other taxes 30,297 67,354
Other creditors 114,535 392,430
204,453 808,686

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 29,461 29,461
Between one and five years 12,275 41,736
41,736 71,197

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Richards ACA FCCA (Senior Statutory Auditor)
for and on behalf of Rothmans Audit LLP

10. CONTINGENT LIABILITIES

The company has a cross guarantee with its group company, PHL Group Finance Limited, in favour of TC Loans Limited to guarantee its loan. The total indebtedness at the balance sheet date is £13,000,000 (2023: £13,000,000).

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE PARENT AND CONTROLLING PARTY

The immediate parent company is Partnering Health Limited, a company registered in England & Wales. The ultimate parent company is PHL Group Holdco Limited, a company registered in England & Wales.

The smallest group in which the results of the company are consolidated is that headed by Partnering Health Limited. The largest group in which the results of the company are consolidated is that headed by PHL Group Holdco Limited. Both of these group accounts are available to the public and may be obtained from the Registrar of Companies.

The directors do not consider there to be an ultimate controlling party.