Health Provision Limited - Filleted accounts

Registered number

06433199

Health Provision Limited

Filleted Accounts

31 March 2025

Health Provision Limited
Registered number:		06433199
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		592,667			635,000
Tangible assets	4		23,502			22,499
			616,169			657,499

Current assets
Stocks		64,116			81,642
Debtors	5	332,268			215,546
Cash at bank and in hand		128,066			45,132
		524,450			342,320

Creditors: amounts falling due within one year	6	(694,497)			(666,274)

Net current liabilities			(170,047)			(323,954)

Total assets less current liabilities			446,122			333,545

Creditors: amounts falling due after more than one year	7		(296,951)			(312,225)

Provisions for liabilities			(5,876)			-

Net assets			143,295			21,320

Capital and reserves
Called up share capital			90			90
Profit and loss account			143,205			21,230

Shareholders' funds			143,295			21,320

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




S Peart
Director
Approved by the board on 25 June 2025

Health Provision Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Medical and office equipment	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and are subsequently measured at amortised cost determined using Bank of England UK base interest rate plus 2%.

	Taxation
	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		11		11


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 April 2024				635,000
	At 31 March 2025				635,000

	Amortisation
	Provided during the year				42,333
	At 31 March 2025				42,333

	Net book value
	At 31 March 2025				592,667
	At 31 March 2024				635,000

	Goodwill is to be written off in equal annual instalments over its estimated economic life of 15 years starting on 1 April 2024, the economic life has been aligned to the loan term.


4	Tangible fixed assets
					Medical and office equipment
£
	Cost
	At 1 April 2024				28,460
	Additions				8,837
	At 31 March 2025				37,297

	Depreciation
	At 1 April 2024				5,961
	Charge for the year				7,834
	At 31 March 2025				13,795

	Net book value
	At 31 March 2025				23,502
	At 31 March 2024				22,499


5	Debtors		2025		2024
£				£

	Trade debtors		246,724		134,543
	Other debtors		85,544		81,003
			332,268		215,546


6	Creditors: amounts falling due within one year		2025		2024
£				£

	Bank loans and overdrafts		40,898		42,626
	Trade creditors		214,894		192,968
	Taxation and social security costs		59,169		2,641
	Other creditors		379,536		428,039
			694,497		666,274


7	Creditors: amounts falling due after one year		2025		2024
£				£

	Bank loans		296,951		312,225


8	Loans		2025		2024
£				£
	Creditors include:
	Instalments falling due for payment after more than five years		141,719		-


	Secured bank loans		354,851		-

	The bank loan is secured with a personal guarantee by the shareholders.


9	Related party transactions

	During the year dividends were paid to the shareholding directors of £nil (2024: £nil).

	The balance owed to the directors was £281,687 (2024: £283,545) at the year end.


10	Controlling party

	The company is wholly controlled by the directors.


11	Other information

	Health Provision Limited is a private company limited by shares and incorporated in England. Its registered office is:
	31 Abbey Road
	Grimsby
	N E Lincolnshire
	DN32 0HQ

	Its trading address is:
	Pilgrim Primary Care Centre
	Pelham Road
	Immingham
	N E Lincolnshire
	DN40 1JW