REGISTERED NUMBER: 15422910 (England and Wales)

Unaudited Financial Statements

for the Period 18 January 2024 to 31 March 2025

for

WG Healthcare Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

5

319,584

Tangible assets

6

22,761

342,345

Current assets

Stocks

35,000

Debtors

7

74,502

Cash at bank and in hand

83,759

193,261

Creditors

Amounts falling due within one year

8

(252,190

)

Net current liabilities

(58,929

)

Total assets less current liabilities

283,416

Creditors

Amounts falling due after more than one year

9

(258,978

)

Provisions for liabilities

(5,690

)

Net assets

18,748

Capital and reserves

Called up share capital

100

Retained earnings

18,648

18,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 14 October 2025 and were signed by:

Mrs Y M Wooi - Director

1.	Statutory information

WG Healthcare Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

15422910

Registered office:

25 Gloucester Road

Bishopston

Bristol

BS7 8AA

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting 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.

Turnover

Turnover from shop sales is recognised at the point at which the goods are provided.

Income from the supply of prescriptions are recognised by reference to the items paid in the NHS monthly dispensing forms.

Where applicable, amounts are included net of value added tax, refunds and other sales discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and equipment

-

15% p.a. reducing balance

Fixtures and fittings

-

15% p.a. reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

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 are 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. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the period 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 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 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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

The average number of employees during the period was 6 .

5.	Intangible fixed assets

Other

intangible

Goodwill

assets

Totals

£

£

£

Cost

Additions

330,000

10,000

340,000

At 31 March 2025

330,000

10,000

340,000

Amortisation

Amortisation for period

19,250

1,166

20,416

At 31 March 2025

19,250

1,166

20,416

Net book value

At 31 March 2025

310,750

8,834

319,584

6.	Tangible fixed assets

Fixtures

Plant and

and

equipment

fittings

Totals

£

£

£

Cost

Additions

4,936

20,000

24,936

At 31 March 2025

4,936

20,000

24,936

Depreciation

Charge for period

425

1,750

2,175

At 31 March 2025

425

1,750

2,175

Net book value

At 31 March 2025

4,511

18,250

22,761

7.

Debtors: amounts falling due within one year

£

Trade debtors

59,984

VAT

12,578

Prepayments

1,940

74,502

8.

Creditors: amounts falling due within one year

£

Bank loans and overdrafts

10,908

Trade creditors

78,971

Tax

7,900

Social security and other taxes

1,903

Other creditors

173

Shareholder loan

22,443

Directors' current accounts

126,392

Accrued expenses

3,500

252,190

9.

Creditors: amounts falling due after more than one year

£

Bank loans - 1-2 years

11,563

Bank loans - 2-5 years

40,217

Bank loans more 5 yr by instal

207,198

258,978

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

207,198

10.	Secured debts

The following secured debts are included within creditors:

£

Bank loans

269,886

The loan is secured by debenture and a fixed and floating charge over the property 25, Gloucester Road, Bristol. The loan is also secured by director's guarantee and by assignment over a personal life policy of the director.

The director has written a letter of postponement regarding the director's loan account for £90,000.