| REGISTERED NUMBER: |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 SEPTEMBER 2024 |
| FOR |
| HEALTH AND SOCIAL CARE SERVICES LTD |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 SEPTEMBER 2024 |
| FOR |
| HEALTH AND SOCIAL CARE SERVICES LTD |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 5 |
| Report of the Independent Auditors | 7 |
| Profit and Loss account | 10 |
| Other Comprehensive Income | 11 |
| Balance Sheet | 12 |
| Statement of Changes in Equity | 13 |
| Notes to the Financial Statements | 14 |
| HEALTH AND SOCIAL CARE SERVICES LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 10 Jesus Lane |
| Cambridge |
| Cambridgeshire |
| CB5 8BA |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The directors present their strategic report for the year ended 30 September 2024. |
| REVIEW OF BUSINESS |
| During the year under review, the company has remained steadfast in executing the board's strategy of becoming the preferred supplier across the southwest of the UK, while also expanding into new geographic regions to meet the growing demand from NHS Integrated Care Boards. |
| This has been a particularly successful year, enabling us to significantly grow our workforce. We are delighted to welcome our new team members, both from the UK and those recruited internationally, We have also strengthened our leadership team by appointing two dedicated Paediatric Clinical directors and overall increasing the number of Clinical Directors, Nurse Managers, and Nurses. |
| Despite operating in a highly competitive market, our nurse-led approach, rapid mobilisation capabilities, and the flexibility of our dedicated international workforce have allowed us to differentiate ourselves from competitors and secure and service care packages, often at preferential rates. Thanks to the dedication of our mobilisation team, we have been able to respond swiftly, often within 24 hours to calls for help from our care partners, particularly when care packages have failed under other providers' responsibility. As we close the year, we are proud to be managing the largest number of care packages in our history. |
| This growth has resulted in a 27% increase in revenue compared to 2023, though gross margin has remained flat at 42%, primarily due to rising labour costs. While we are mindful of the financial pressures faced by those relying on our services, the commitment and expertise of our team position us well to navigate these challenges without compromising the quality of care we provide. |
| Looking ahead through 2025, the business will face challenges, particularly with the increases in the National Minimum Wage, Employers National Insurance, and visa costs for our internationally recruited staff, as well as the ongoing effects of inflation and the cost of living. These changes are expected to impact both gross and net profit margins in the medium to long term. In light of these rising costs, a review is currently underway by the government, and we anticipate entering formal negotiations with our local government partners once the full impact is clearer. |
| Despite these challenges, we remain confident in our ability to adapt and overcome, particularly with our ability to continue expanding our workforce, both from within the UK and internationally. Given the current political climate and the uncertainty surrounding the future of care provision and funding, we are prepared to meet these challenges head-on. We remain fully committed to meeting the needs of those we are privileged to care for. |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The company is exposed to a range of business and financial risks. The principal risks and how they are managed are described in more detail below: |
| LIQUIDITY RISK |
| The company seeks to manage its financial risk by ensuring sufficient cash resources are available to meet foreseeable needs. |
| CREDIT RISK |
| The company's principal financial assets other than cash are trade debtors. The credit risk associated with these trade debts is managed by the credit control functions and continually monitors the age and size of balances due.Credit risk is further reduced as the company's main customers are NHS Integrated Care Boards. |
| RECRUITMENT AND RETENTION OF STAFF |
| The recruitment and retention of care staff is vital to the success of the company's strategy. The company has experienced some difficulties in recruiting in the UK labour market so has sought to mitigate this risk by obtaining visa permissions from the UK government to recruit staff located overseas. |
| CYBER SECURITY |
| Cyber and data security remain a key risk as technology and third party cloud based applications remain susceptible to the threat of cyber attacks.A data breach or attack could result in operational disruption which could reduce the effectiveness of group IT systems. This in turn could result in the loss of income, financial, customer or employee data resulting in reputational damage. To mitigate these risks the company employes a range of proactive and reactive security controls. |
| COMPLIANCE AND REGULATIONS |
| Legislation and regulation will continue to change and become more onerous, complex and demanding and is therefore considered a risk to the company.The company seeks to mitigate this risk through dedicated staff members responsible for compliance that monitor regulatory developments and advise the company's management as necessary. Regular training is provided to staff across a range of compliance areas. |
| REPUTATION |
| The company must have a reputation for delivering services. Any breach of laws and regulations or care standards, be it perceived or actual could impact the company's reputation, brand and compromise the safety of those in the company's care. This could impact on the company's ability to retain existing care packages as well as win further care packages from NHS Integrated Care Boards as well as the incurring of costs to remedy any regulatory breach. |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FINANCIAL KEY PERFORMANCE INDICATORS |
| 2024 | 2023 |
| Turnover | £17.9M | £14.1M |
| Gross margin | 41.96% | 42.09% |
| Operating profit margin | 25% | 25% |
| Net profit margin before tax | 25% | 26% |
| Total staff costs as % of turnover | 64% | 63% |
| ON BEHALF OF THE BOARD: |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 30 September 2024 will be £ |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
| Other changes in directors holding office are as follows: |
| ENGAGEMENT WITH EMPLOYEES |
| The company's ability to deliver its services are dependant on the quality and commitment of its staff meaning both the retention of existing staff and recruitment of new colleagues is a key component to delivering on the company's growth strategy. |
| The company seeks to invest in the capability of colleagues through formal training programmes and through development opportunities |
| The company seeks to engage through consultation with all staff concerning initiatives and changes that have taken place within the business during the period under review. |
| The company continues to focus on delivering a culture that is open, supportive and transparent and dedicated to the wellbeing of all staff within the company. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| AUDITORS |
| The auditors, Thompson Taraz Rand Audit and Assurance Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HEALTH AND SOCIAL CARE SERVICES LTD |
| Opinion |
| We have audited the financial statements of Health and Social Care Services Ltd (the 'company') for the year ended 30 September 2024 which comprise the Profit and Loss account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HEALTH AND SOCIAL CARE SERVICES LTD |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HEALTH AND SOCIAL CARE SERVICES LTD |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Based on our understanding of the company and its industry, we identified that the principal risks of non compliance with laws and regulations related to the Health and Social Care Act 2008, Care Quality Commission Regulations, Health and Safety Regulations, Employment Regulations including the National Minimum Wage Act, Modern Slavery, UK Visa and Immigration rules and UK Tax legislation. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006. |
| We evaluated directors and managements incentives and opportunities for fraudulent manipulation of the financial statements (including management override of controls) and determined the principal risks were related to the posting of manual journal entries and management bias through application of judgement and assumptions in significant accounting estimates. |
| Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards; For example, the further removed none compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standard would identify it. |
| In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing noncompliance or fraud and cannot be expected to detect non-compliance with all laws and regulations. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditors |
| 10 Jesus Lane |
| Cambridge |
| Cambridgeshire |
| CB5 8BA |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| PROFIT AND LOSS ACCOUNT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| 4,442,476 | 3,478,509 |
| Other operating income |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| 4,534,491 | 3,612,822 |
| Interest payable and similar expenses | 6 | ( |
) | ( |
) |
| PROFIT BEFORE TAXATION |
| Tax on profit | 7 | ( |
) | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| CURRENT ASSETS |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 14 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 15 |
| Retained earnings | 16 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 October 2022 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2023 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2024 |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Health and Social Care Services Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Financial Reporting Standard 102 - reduced disclosure exemptions |
| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
| • | the requirements of Section 7 Statement of Cash Flows. |
| Critical accounting judgements and key sources of estimation uncertainty |
| Useful economic lives of tangible fixed assets: |
| Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilisation and physical condition of the assets. |
| Doubtful debts: |
| The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history. |
| Turnover |
| Turnover is recoginsed in respect of the delivery of critical care services. Revenue is recognised once the right to consideration has been earned which is the fulfilment of care provision for an agreed time period. Revenue invoiced in advanced is recognised as a liability and released to the profit and loss account once the care package has been fulfilled. Where consideration has been earned but not invoiced revenue is accrued to the financial statements for the value of the care provided. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under a finance lease, over the term of the lease, which ever is the shorter. |
| Plant and machinery: | 10% on Cost. |
| Computer equipment | 33% on Cost |
| Office equipment | 25% on Cost |
| Motor vehicles | 25% on Reducing Balance |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all material 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. |
| 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 profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Carers | 295 | 226 |
| Administration | 16 | 21 |
| Managers | 16 | - |
| Directors | 3 | 2 |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 4. | EMPLOYEES AND DIRECTORS - continued |
| 2024 | 2023 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| Auditors' remuneration |
| Auditors' remuneration for non audit work |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Interest paid |
| HMRC Interest |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax |
| Tax on profit |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 7. | TAXATION - continued |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Capital allowances in excess of depreciation | ( |
) | ( |
) |
| Movement in deferred tax | 6,851 | 21,495 |
| Total tax charge | 1,141,258 | 802,004 |
| 8. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Ordinary shares of 10p each |
| Interim |
| 9. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | 213,753 | - |
| Other debtors |
| Prepayments and accrued income |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to participating interests | - | 166,308 |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | - | 1 |
| Accrued expenses |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| Operating lease commitments relates to the rental of commercial property from which the company trades. |
| 13. | SECURED DEBTS |
| Bank loans and overdrafts are secured by fixed and floating charge by way of a debenture overall all assets of the company. |
| 14. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 73,564 | 66,713 |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 14. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2023 |
| Charge to Profit and Loss account during year |
| Rate movement |
| Balance at 30 September 2024 |
| Deferred tax is recognised in respect of the excess of capital allowances over depreciation. |
| 15. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Share capital 4 | 10p | 100 | 100 |
| 16. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 October 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 September 2024 |
| HEALTH AND SOCIAL CARE SERVICES LTD (REGISTERED NUMBER: 09690062) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 17. | RELATED PARTY DISCLOSURES |
| Transactions with the company's parent company: |
| During the year under review the company incurred management fees of £ nil (2023:£90,000) from the company's parent company. |
| The company paid advances of £275,595 (2023:£154,412). Following the declaration of an interim dividend totalling £371,598 the amount owed to the parent company is £191,593 (2023:(£95,589)) and is disclosed within amounts owed by group undertakings within creditors due in less than one year. |
| Transactions with other group entities: |
| The company charged a wholly owned subsidiary of the company's parent company £14,000 (2023:£106,000) in respect of clinical oversight fees. |
| The balance due at the balance sheet date amounted to £nil (2023:£22,652). |
| Transactions with company's that hold a participating interest: |
| A company in which a director holds a particpating interest was reimbursed expenses of £85,872 (2023: £249,160) in relation to travel and overseas staff recruitment expenses. A further £21,840 was charged in connection with the supply of operational support services.The balance payable to this company at the balance sheet date amounted to £nil (2023: £3,914) and is disclosed within trade creditors. |
| The company also paid advances of £419,675 (2023:£26,191) to a company in which a director holds a participating interest. Following the declaration of an interim dividend of £929 per share amounting to £371,599 the amount due at the balance sheet date amounted to £213,754 (2023: £166,309) and is disclosed within amounts owed to particpating interests within debtors due in less than one year. |
| Transactions with key management personal: |
| During the year under review the company was charged rent of £34,800 (2023: £34,800) by a self invested personal pension scheme of which a director is a beneficiary in relation to the rental of commercial premises. |
| The company was charged £160,000 (2023: nil) in respect of overseas staff recruitment fees by a company incorporated in Dubai. This is a company in which two directors each hold a 33% shareholding. A further £56,069 was advanced against future recruitment needs and is held within other debtors. |
| A director charged the company £37,456 (2023: nil) in respect of the supply of accountancy and taxation services. The amount outstanding at the balance sheet is nil (2023: nil). |
| Remuneration paid to key management personal amounted to £432,729. |
| 18. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is the company's parent company Abbott Healthcare Ltd The consolidated financial statements of the group can be obtained directly from the registrar of companies or the group's head office address; 16 Eaton Court, Colmworth Business Park, Eaton Socon, St Neots, Cambridgeshire, PE19 8ER. |