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Company registration number: NI616081
Connected Health Limited
Financial statements
31 December 2024
Connected Health Limited
Contents
Directors and other information
Strategic report
Directors report
Independent auditor's report to the members
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Connected Health Limited
Directors and other information
Directors Douglas Adams
Robin Horner (Resigned 20 November 2024)
Kevin Lagan (Resigned 20 November 2024)
Brian O'Connor (Resigned 20 November 2024)
Robert Notley (Resigned 20 November 2024)
Ryan Williams
Secretary Julie Cordner
Company number NI616081
Registered office 3b Boucher Business Studios
Glenmachan Place
Belfast
BT12 6QH
Auditor Hill Vellacott
Chamber of Commerce House
22 Great Victoria Street
Belfast
BT2 7BA
Bankers Ulster Bank
11 - 16 Donegall Square East
Belfast
BT1 5UB
Connected Health Limited
Strategic report
Year ended 31 December 2024
Business review and position
The principal activity of the company is the provision of domiciliary health care services
The directors are satisfied with the company's performance.
The company operates in a very competitive marketplace and the directors have taken steps to ensure that the company will maintain its competitive strengths and are confident of future results.
Given the nature of the company's activities, the directors are of the opinion that the use of key performance indicators is not necessary for an understanding of the development, performance or position of the company.
Financial risk management objectives and policies
The company has exposure to liquidity risk and customer credit exposure. To a lesser extent the company is exposed to interest rate risk.
The objective of the company in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The company expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations the company will seek additional credit facilities. Given the maturity of the bank loans, the company is in position to meet its commitments and obligations as they come due.
The company borrows from its bankers using either overdrafts or term loans whose tenure depends on the nature of the asset and management's view of the future direction of interest rate.
This report was approved by the board of directors on 22 July 2025 and signed on behalf of the board by:
Douglas Adams
Director
Ryan Williams
Director
Connected Health Limited
Directors report
Year ended 31 December 2024
The directors present their report and the financial statements of the company for the year ended 31 December 2024.
Directors
The directors who served the company during the year were as follows:
Douglas Adams
Robin Horner (Resigned 20 November 2024)
Kevin Lagan (Resigned 20 November 2024)
Brian O'Connor (Resigned 20 November 2024)
Robert Notley (Resigned 20 November 2024)
Ryan Williams
Dividends
The directors do not recommend the payment of a dividend.
Future developments
The directors will continue to develop the business and will seek to take advantage of oppurtunities that arise in the future.
Financial instruments
Details of the financial instruments are provided in the strategic report on page 2.
Directors responsibilities statement
The directors are responsible for preparing the strategic report, directors report 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 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 judgments and accounting estimates that are reasonable and prudent; and
- 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
This report was approved by the board of directors on 22 July 2025 and signed on behalf of the board by:
Douglas Adams Ryan Williams
Director Director
Independent auditor's report to the members of
Connected Health Limited
Year ended 31 December 2024
Opinion
We have audited the financial statements of Connected Health Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, statement of financial position, 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 FRS 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 31 December 2024 and of its loss 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 auditor’s 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements.
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 directors' report. 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 the 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 directors' responsibilities statement, 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 is 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.
Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach was as follows: We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the Companies Act 2006 and compliance with FRS102; and we assessed the risks of material misstatement in respect of fraud with the consideration of the company's own assessment of the risks that irregularities may occur either because of fraud or error; the results of our enquiries of management about their own identification and assessment of the risks of irregularities; any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgment, such as disclosure of adjusting items. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override; we also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act and tax legislation; and in addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included data protection, employment and health and safety regulations. Audit procedures designed to respond to the risks of fraud: We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach. We considered the risk of fraud through transactions outside the normal course of transactions by noting anything that was unusual in nature or size and enquired about such transaction to gain an understanding of their nature; based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud and other irregularities; extent of audit procedures; and we evaluated the selection and application of accounting policies by the company, particularly those related to subjective measurements and complex transactions, that may be indicative of fraudulent financial reporting. 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 auditor’s report.
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 an auditors report 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.
Eoin McMullan (Senior Statutory Auditor)
For and on behalf of
Hill Vellacott
Chartered Accountants
Chamber of Commerce House
22 Great Victoria Street
Belfast
BT2 7BA
22 July 2025
Connected Health Limited
Statement of comprehensive income
Year ended 31 December 2024
2024 2023
Note £ £
Turnover 4 29,133 397,900
Cost of sales ( 58,400) ( 371,465)
_______ _______
Gross (loss)/profit ( 29,267) 26,435
Administrative expenses ( 2,884,025) ( 2,538,968)
Other operating income 5 116,422 73,006
_______ _______
Operating loss 6 ( 2,796,870) ( 2,439,527)
Other interest receivable and similar income 9 ( 60,793) ( 132,163)
Amounts written off investments 10 ( 200,000) -
Interest payable and similar expenses 11 - ( 7,840)
Loss before taxation ( 3,057,663) ( 2,579,530)
Tax on loss 12 - ( 903)
_______ _______
Loss for the financial year ( 3,057,663) ( 2,580,433)
_______ _______
Other comprehensive income - 34,500
_______ _______
Total comprehensive income for the year ( 3,057,663) ( 2,545,933)
_______ _______
All the activities of the company are from continuing operations.
Connected Health Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 13 257,621 221,887
Tangible assets 14 91,209 141,755
Investments 15 5,986,723 6,186,723
_______ _______
6,335,553 6,550,365
Current assets
Debtors 16 138,582 272,144
Cash at bank and in hand 189,919 71,012
_______ _______
328,501 343,156
Creditors: amounts falling due
within one year 17 ( 20,035,820) ( 16,287,554)
_______ _______
Net current liabilities ( 19,707,319) ( 15,944,398)
_______ _______
Total assets less current liabilities ( 13,371,766) ( 9,394,033)
Creditors: amounts falling due
after more than one year 18 - ( 920,070)
_______ _______
Net liabilities ( 13,371,766) ( 10,314,103)
_______ _______
Capital and reserves
Called up share capital 21 1,273 1,273
Share premium account 22 138,364 138,364
Profit and loss account 22 ( 13,511,403) ( 10,453,740)
_______ _______
Shareholders deficit ( 13,371,766) ( 10,314,103)
_______ _______
These financial statements were approved by the board of directors and authorised for issue on 22 July 2025 , and are signed on behalf of the board by:
Douglas Adams Ryan Williams
Director Director
Company registration number: NI616081
Connected Health Limited
Statement of changes in equity
Year ended 31 December 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 January 2023 1,273 138,364 ( 7,907,807) ( 7,768,170)
Loss for the year ( 2,580,433) ( 2,580,433)
Other comprehensive income for the year:
User defined other comprehensive income movement 1 - - 34,500 34,500
_______ _______ _______ _______
Total comprehensive income for the year - - ( 2,545,933) ( 2,545,933)
_______ _______ _______ _______
At 31 December 2023 and 1 January 2024 1,273 138,364 ( 10,453,740) ( 10,314,103)
Loss for the year ( 3,057,663) ( 3,057,663)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 3,057,663) ( 3,057,663)
_______ _______ _______ _______
At 31 December 2024 1,273 138,364 ( 13,511,403) ( 13,371,766)
_______ _______ _______ _______
Connected Health Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Nothern Ireland. The address of the registered office is Connected Health Limited, 3b Boucher Business Studios, Glenmachan Place, Belfast, BT12 6QH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
The company has not prepared a cash flow statement as this will be included in the consolidated financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgementsThere are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.Key sources of estimation uncertaintyAccounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:Impairment of trade debtors is reviewed on an ongoing basis. The company uses estimates based on historical experience and current information in determining the debts for which an impairmentt charge is required.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:
2024 2023
£ £
Rendering of services 29,133 397,900
_______ _______
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income
2024 2023
£ £
Government grant income 116,302 61,006
Other operating income 120 12,000
_______ _______
116,422 73,006
_______ _______
6. Operating loss
Operating loss is stated after charging/(crediting):
2024 2023
£ £
Amortisation of intangible assets 27,854 -
Depreciation of tangible assets 76,983 73,917
Operating lease rentals ( 370) 9,175
Foreign exchange differences 3,267 187
Fees payable for the audit of the financial statements 21,000 21,000
_______ _______
7. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
2024 2023
Administrative staff 35 31
Carers 2 22
_______ _______
37 53
_______ _______
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 1,519,834 1,413,361
Social security costs 168,759 149,474
Other pension costs 122,343 71,565
_______ _______
1,810,936 1,634,400
_______ _______
8. Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
2024 2023
£ £
Remuneration 160,000 110,000
_______ _______
9. Other interest receivable and similar income
2024 2023
£ £
Loans and receivables (60,793) (132,163)
_______ _______
10. Amounts written off investments
2024 2023
£ £
Impairment of investments in associates 200,000 -
_______ _______
11. Interest payable and similar expenses
2024 2023
£ £
Other interest payable and similar expenses - 7,840
_______ _______
12. Tax on loss
Major components of tax expense
2024 2023
£ £
Current tax:
Adjustments in respect of previous periods - 903
_______ _______
Tax on loss - 903
_______ _______
Reconciliation of tax expense
The tax assessed on the loss for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25.00 % (2023: 25.00%).
2024 2023
£ £
Loss before taxation ( 3,057,663) ( 2,579,530)
_______ _______
Loss multiplied by rate of tax ( 764,416) ( 644,883)
Adjustments in respect of prior periods - 903
Effect of expenses not deductible for tax purposes 63,422 -
Effect of capital allowances and depreciation ( 58,732) -
Utilisation of tax losses 759,726 644,883
_______ _______
Tax on loss - 903
_______ _______
13. Intangible assets
Software development Total
£ £
Cost
At 1 January 2024 221,887 221,887
Additions 63,588 63,588
_______ _______
At 31 December 2024 285,475 285,475
_______ _______
Amortisation
At 1 January 2024 - -
Charge for the year 27,854 27,854
_______ _______
At 31 December 2024 27,854 27,854
_______ _______
Carrying amount
At 31 December 2024 257,621 257,621
_______ _______
At 31 December 2023 221,887 221,887
_______ _______
14. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 January 2024 52,619 268,239 320,858
Additions 250 26,187 26,437
_______ _______ _______
At 31 December 2024 52,869 294,426 347,295
_______ _______ _______
Depreciation
At 1 January 2024 25,817 153,286 179,103
Charge for the year 12,591 64,392 76,983
_______ _______ _______
At 31 December 2024 38,408 217,678 256,086
_______ _______ _______
Carrying amount
At 31 December 2024 14,461 76,748 91,209
_______ _______ _______
At 31 December 2023 26,802 114,953 141,755
_______ _______ _______
15. Investments
Shares in group undertakings Total
£ £
Cost
At 1 January 2024 6,186,723 6,186,723
Disposals ( 200,000) ( 200,000)
_______ _______
At 31 December 2024 5,986,723 5,986,723
_______ _______
Impairment
At 1 January 2024 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 5,986,723 5,986,723
_______ _______
At 31 December 2023 6,186,723 6,186,723
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
Connected Health Domiciliary Care Limited 3B Boucher Business Studios, Glenmachan Place, Belfast. Ordinary 100
Home Care Plus Limited Unit 3, First Floor BLock 3, Belgard Road, Tallaght, Dublin 4, DUBLIN, Ireland. Ordinary 100
IBBSOL Limited Unit 3, First Floor BLock 3, Belgard Road, Tallaght, Dublin 4, DUBLIN, Ireland. Ordinary 100
Connected Health (Care NI) Limited Ordinary 100
16. Debtors
2024 2023
£ £
Trade debtors 7,691 16,419
Prepayments and accrued income 89,274 50,127
Other debtors 41,617 205,598
_______ _______
138,582 272,144
_______ _______
17. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 537,226
Trade creditors 48,294 139,798
Amounts owed to group undertakings 19,353,330 15,490,917
Amounts owed to parent company 438,348 -
Accruals and deferred income 81,454 49,788
Corporation tax 1,615 -
Social security and other taxes 54,971 53,343
Other creditors 57,808 16,482
_______ _______
20,035,820 16,287,554
_______ _______
The bank have fixed and floating charge over the assets of the company, there are cross guarantees with all subsiduary companies.
18. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts - 920,070
_______ _______
The bank have fixed and floating charge over the assets of the company, there are cross gaurentees with all subsiduary companies.
19. Employee benefits
The amount recognised in profit or loss in relation to defined contribution plans was £ 122,343 (2023: £ 71,565 ).
20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2024 2023
£ £
Recognised in other operating income:
Government grants recognised directly in income 116,302 61,006
_______ _______
21. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 0.25 each 5,090 1,273 5,090 1,273
_______ _______ _______ _______
22. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
23. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 152,312 112,321
Later than 1 year and not later than 5 years 420,649 72,390
_______ _______
572,961 184,711
_______ _______
24. Limitation of auditors liability
The company has entered into a liability limitaion agreement with the company's auditor which was approved on 03 March 2025. The principal terms of the agreement are that the auditor's liability is limited to a multiple of the audit fee issued and paid for the year, but the mulitple cannot be lessthan such amount as is fair and resonable.
25. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Douglas Adams 14,454 ( 9,668) 4,786
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Douglas Adams - 14,454 14,454
_______ _______ _______
26. Related party transactions
Nightingale Bidco Limited owns 100% of the share capital of Connected Health Limited . At the balance sheet date the company owed £14,863,150 (2023: - £13,031,156) to Connected Health Domiciliary Care Limited.At the balance sheet date the company owed £1,969,302 (2023: - £1,785,073) to Home Care Plus Limited. At the balance sheet date the company owed £2,520,878 (2023: - £674,688) to Connected Health (Care NI) Limited.At the balance sheet date the company owed £438,348 to Nightingale Bidco Limited.
27. Controlling party
The company is 100% controlled by Nightingale Bidco Limited.