| Ina Health Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Going concern |
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There was a net deficiency of £370,755 at the balance sheet date, however the directors have confirmed continued support for the foreseeable future. |
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The directors having considered the above and after making due enquiries continue to adopt the going concern basis in preparing these accounts which assumes that the company will continue in operation for the foreseeable future. |
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Turnover |
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The turnover represents the total amount receivable by the company for services and facilities provided. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Website costs are being amortised evenly over their estimated useful life of five years. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset evenly over its expected useful life, as follows: |
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Leasehold land and buildings |
Straight line over the lease period. |
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Plant and machinery |
20% on reducing balance. |
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Fixtures, fittings and equipment |
20% on reducing balance. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Bank loans and other financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
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Average number of persons employed by the company |
6 |
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6 |
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| 3 |
Operating loss |
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The operating loss is stated after charging: |
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2024 |
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2023 |
| £ |
£ |
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Depreciation -owned assets |
24,576 |
|
29,391 |
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Website costs amortised |
4,367 |
|
4,505 |
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| 4 |
Intangible fixed assets |
£ |
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Cost |
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At 1 January 2024 |
22,524 |
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At 31 December 2024 |
22,524 |
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Amortisation |
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At 1 January 2024 |
18,156 |
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Provided during the year |
4,367 |
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At 31 December 2024 |
22,523 |
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Net book value |
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At 31 December 2024 |
1 |
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At 31 December 2023 |
4,368 |
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Website costs are written off in equal annual instalments over its estimated economic life of 5 years. |
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| 5 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery |
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Fixtures and fittings |
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Total |
| £ |
£ |
£ |
£ |
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Cost |
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At 1 January 2024 |
80,791 |
|
26,514 |
|
184,475 |
|
291,780 |
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At 31 December 2024 |
80,791 |
|
26,514 |
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184,475 |
|
291,780 |
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Depreciation |
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At 1 January 2024 |
24,676 |
|
16,559 |
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98,643 |
|
139,878 |
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Charge for the year |
5,419 |
|
1,991 |
|
17,166 |
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24,576 |
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At 31 December 2024 |
30,095 |
|
18,550 |
|
115,809 |
|
164,454 |
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Net book value |
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At 31 December 2024 |
50,696 |
|
7,964 |
|
68,666 |
|
127,326 |
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At 31 December 2023 |
56,115 |
|
9,955 |
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85,832 |
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151,902 |
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| 6 |
Debtors |
2024 |
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2023 |
| £ |
£ |
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Trade debtors |
9,600 |
|
22,307 |
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Other debtors |
52,336 |
|
42,538 |
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61,936 |
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64,845 |
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| 7 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
| £ |
£ |
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Bank loans and overdrafts |
5,262 |
|
5,285 |
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Obligations under finance lease and hire purchase contracts |
12,137 |
|
21,996 |
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Trade creditors |
1,536 |
|
1,511 |
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Taxation and social security costs |
2,000 |
|
780 |
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Other creditors |
26,535 |
|
25,862 |
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|
47,470 |
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55,434 |
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| 8 |
Creditors: amounts falling due after one year |
2024 |
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2023 |
| £ |
£ |
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Bank loans |
27,870 |
|
34,120 |
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Obligations under finance lease and hire purchase contracts |
18,550 |
|
30,687 |
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Other creditors |
470,000 |
|
430,000 |
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|
516,420 |
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494,807 |
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Bank loan |
2024 |
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2023 |
| £ |
£ |
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Creditors include: |
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Instalments falling due for payment after more than five years |
5,458 |
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11,609 |
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Bounce bank loan is backed by the British Business Bank on behalf of and with the backing of the Secretary of State for Business, Energy and Industrial Strategy. |
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Hire purchase contracts included under creditors are secured on the assets concerned. |
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| 9 |
Provisions for liabilities |
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2024 |
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2023 |
| £ |
£ |
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Deferred tax |
3,988 |
|
5,308 |
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Balance at 1st January 2024 |
5,308 |
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Provided during the year |
(1,320) |
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3,988 |
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| 10 |
Other financial commitments |
2024 |
|
2023 |
| £ |
£ |
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Total future minimum payments, subject to rent reviews, under non-cancellable operating leases |
|
392,844 |
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434,844 |
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| 11 |
Directors' advances, credits and guarantees |
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Mrs B Patel is a guarantor in respect of the company's leasehold premises and hire purchase contracts. |
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The amount due to Mrs B Patel, shown under creditors repayable after 12 months, amounting to £470,000 is interest free and repayable at the discretion of the company ( 2023- £430,000). |
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| 12 |
Ultimate controlling party |
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The controlling party is Mrs B Patel. |