COMPANY REGISTRATION NUMBER:
13803283
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2025
Current assets
|
Debtors |
5 |
231,500 |
|
403,763 |
|
Cash at bank and in hand |
1,027,380 |
|
854,763 |
|
------------ |
|
------------ |
|
1,258,880 |
|
1,258,526 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
1,231,921 |
|
1,242,770 |
|
------------ |
|
------------ |
|
Net current assets |
|
26,959 |
15,756 |
|
|
-------- |
-------- |
|
Total assets less current liabilities |
|
26,959 |
15,756 |
|
|
-------- |
-------- |
|
Net assets |
|
26,959 |
15,756 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
60 |
60 |
|
Profit and loss account |
|
26,899 |
15,696 |
|
|
-------- |
-------- |
|
Shareholders funds |
|
26,959 |
15,756 |
|
|
-------- |
-------- |
|
|
|
|
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 income statement 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
1 December 2025
, and are signed on behalf of the board by:
|
Dr A Vilathgamuwa |
|
Director |
|
Company registration number:
13803283
|
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 & Wales. The address of the registered office is 5-7 Parsons Green, London, SW6 4UL, England.
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.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
25
(2024:
21
).
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
217,004 |
376,124 |
|
Other debtors |
14,496 |
27,639 |
|
--------- |
--------- |
|
231,500 |
403,763 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
66,080 |
193,484 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
376,141 |
369,299 |
|
Corporation tax |
2,627 |
2,893 |
|
Social security and other taxes |
31,183 |
30,576 |
|
Other creditors |
755,890 |
646,518 |
|
------------ |
------------ |
|
1,231,921 |
1,242,770 |
|
------------ |
------------ |
|
|
|
Included in Other Creditors is £375,928 relating to funds held on behalf of clients, with the following breakdown: - H&F HCP 21-22 - £109,791 - H&F HCP 22-23 - £194,000 - H&F Place Partnership Funds - £44,368 - NWL ICB Community Engagement - £27,769 The funds are held by the company on the client's request. The lodgements are restricted to fund partnership work and are not available for PCN business or programmes.
7.
Related party transactions
The Company acts as Principal in a Cost Sharing Group with South Fulham PCN. The transactions are dealt with on a matching cost recovery basis. The Company also acts as Agent for South Fulham PCN in circumstances where the PCN has the Beneficial Interest in those transactions. At the Balance Sheet Date the Company was holding Funds of £376,141 which beneficially belong to South Fulham PCN.