Watlington Health Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 6169712

Watlington Health Limited

Unaudited financial statements

31 March 2025

Watlington Health Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	5	20,250	27,000
Tangible assets	6	13,594	17,433
		-------	-------
		33,844	44,433

Current assets

Stocks		28,203	45,000
Debtors	7	194,226	125,376
Cash at bank and in hand		54,975	134,233
		---------	---------
		277,404	304,609

Creditors: Amounts falling due within one year	8	( 184,543)		( 237,806)
		---------		---------
Net current assets			92,861		66,803
			---------		---------
Total assets less current liabilities			126,705		111,236

Creditors: Amounts falling due after more than one year	9		( 18,741)		( 39,945)

Provisions

Taxation including deferred tax	( 2,580)	( 3,194)
	---------	---------
Net assets	105,384	68,097
	---------	---------

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		105,284	67,997
		---------	-------
Shareholders funds		105,384	68,097
		---------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Watlington Health Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 24 October 2025 , and are signed on behalf of the board by:

Dr A Kant

Director

Company registration number: 6169712

Watlington Health Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Watlington Pharmacy, Rowan Close, Watlington, King's Lynn, PE33 0TU, Norfolk.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

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:

	Pharmacy Licence	-	5% straight line

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 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.

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:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	33% straight line
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 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.

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.

4. Employee numbers

The average number of employees during the year was 14 (2024: 14 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	135,000
	---------
Amortisation
At 1 April 2024	108,000
Charge for the year	6,750
	---------
At 31 March 2025	114,750
	---------
Carrying amount
At 31 March 2025	20,250
	---------
At 31 March 2024	27,000
	---------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	91,643	5,596	9,700	106,939
Additions	–	1,499	–	1,499
	-------	------	------	---------
At 31 March 2025	91,643	7,095	9,700	108,438
	-------	------	------	---------
Depreciation
At 1 April 2024	82,168	4,913	2,425	89,506
Charge for the year	2,369	1,150	1,819	5,338
	-------	------	------	---------
At 31 March 2025	84,537	6,063	4,244	94,844
	-------	------	------	---------
Carrying amount
At 31 March 2025	7,106	1,032	5,456	13,594
	-------	------	------	---------
At 31 March 2024	9,475	683	7,275	17,433
	-------	------	------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	95,912	70,671
Other debtors	98,314	54,705
	---------	---------
	194,226	125,376
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	4,243	7,374
Trade creditors	121,996	158,949
Social security and other taxes	7,800	12,959
Watlington Medical Centre- Loan	42,906	52,168
Other creditors	7,598	6,356
	---------	---------
	184,543	237,806
	---------	---------

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	18,741	39,945
	-------	-------

10. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary Class 1 shares of £ 0.01 each	100	1	100	1
Ordinary Class 2 A shares of £ 0.01 each	10,000	100	10,000	100
Ordinary Class 2 B shares of £ 0.01 each	10,000	100	10,000	100
Ordinary Class 2 C shares of £ 0.01 each	10,000	100	10,000	100
Ordinary Class 2 D shares of £ 0.01 each	10,000	100	10,000	100
Ordinary Class 2 E shares of £0.01 each	10,000	100	10,000	100
Ordinary Class 2 F shares of £0.01 each	49,890	499	49,890	499

Ordinary Class 3 shares of £0.01 each	10	–	10	–
	---------	------	---------	------
	100,000	1,000	100,000	1,000
	---------	------	---------	------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary Class 2 A shares of £ 0.01 each	3,182	32	3,182	32
Ordinary Class 2 B shares of £ 0.01 each	1,818	18	1,818	18
Ordinary Class 2 C shares of £ 0.01 each	2,727	27	2,727	27
Ordinary Class 2 D shares of £ 0.01 each	2,273	23	2,273	23
	-------	----	-------	----
	10,000	100	10,000	100
	-------	----	-------	----

11. Directors' advances, credits and guarantees

The Company made a loan of £50,935 to Dr Nichol during the year ended 31 March 2022, on which interest is being charged at 2.5%. The amount outstanding at the year end date is £23,919 (2024: £48,255). The loan is due to be repaid by March 2027.