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Company No: 04735263 (England and Wales)

# HEALTHCARE SOUTH WEST LTD

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

HEALTHCARE SOUTH WEST LTD

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

HEALTHCARE SOUTH WEST LTD

## BALANCE SHEET

As at 30 April 2025
HEALTHCARE SOUTH WEST LTD

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 922,834 |  | 952,509
Investment property | 5 | 1,300,000 |  | 1,300,000
Investments | 6 | 191,898 |  | 191,898
|  | 2,414,732 |  | 2,444,407
Current assets |  |  |  |
Debtors | 7 | 56,217 |  | 40,249
Cash at bank and in hand |  | 47,200 |  | 25,484
|  | 103,417 |  | 65,733
Creditors: amounts falling due within one year | 8 | ( 712,689) |  | ( 737,050)
Net current liabilities |  | (609,272) |  | (671,317)
Total assets less current liabilities |  | 1,805,460 |  | 1,773,090
Creditors: amounts falling due after more than one year | 9 | ( 32,292) |  | ( 120,478)
Net assets |  | 1,773,168 |  | 1,652,612
Capital and reserves |  |  |  |
Called-up share capital |  | 1,000 |  | 1,000
Profit and loss account |  | 1,772,168 |  | 1,651,612
Total shareholders' funds |  | 1,773,168 |  | 1,652,612

For the financial year ending 30 April 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 financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Healthcare South West Ltd (registered number: 04735263) were approved and authorised for issue by the Board of Directors on 20 January 2026. They were signed on its behalf by:

Dr F V Gardner Director |

HEALTHCARE SOUTH WEST LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
HEALTHCARE SOUTH WEST LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Healthcare South West Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 60 Staplegrove Road, Taunton, TA1 1DJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales-related taxes. The fair value of consideration takes into account trade discounts and settlement discounts. Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other debtors or creditors in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 4 years straight line

###### Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 40 years straight line
Plant and machinery etc. | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 4

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 May 2024 | 120,000 |  | 120,000
At 30 April 2025 | 120,000 |  | 120,000
Accumulated amortisation |  |  |
At 01 May 2024 | 120,000 |  | 120,000
At 30 April 2025 | 120,000 |  | 120,000
Net book value |  |  |
At 30 April 2025 | 0 |  | 0
At 30 April 2024 | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 May 2024 | 1,408,892 |  | 76,399 |  | 1,485,291
Additions | 0 |  | 871 |  | 871
Disposals | 0 |  | ( 12,113) |  | ( 12,113)
At 30 April 2025 | 1,408,892 |  | 65,157 |  | 1,474,049
Accumulated depreciation |  |  |  |  |
At 01 May 2024 | 458,147 |  | 74,635 |  | 532,782
Charge for the financial year | 29,375 |  | 1,171 |  | 30,546
Disposals | 0 |  | ( 12,113) |  | ( 12,113)
At 30 April 2025 | 487,522 |  | 63,693 |  | 551,215
Net book value |  |  |  |  |
At 30 April 2025 | 921,370 |  | 1,464 |  | 922,834
At 30 April 2024 | 950,745 |  | 1,764 |  | 952,509

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 May 2024 | 1,300,000
As at 30 April 2025 | 1,300,000

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £1,300,000 (2024 - £1,300,000).

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 1,496,897 |  | 1,496,897

#### 6. Fixed asset investments

| Investments in associates |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 May 2024 | 191,898 |  | 191,898
At 30 April 2025 | 191,898 |  | 191,898
Carrying value at 30 April 2025 | 191,898 |  | 191,898
Carrying value at 30 April 2024 | 191,898 |  | 191,898

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 30.04.2025 | Ownership 30.04.2024
Orchard House Family Assessment Centre Limited | 60 Staplegrove Road, Taunton, TA1 1D | Provision of family assessments | Ordinary | 50.00% | 50.00%

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 28,837 |  | 30,163
Deferred tax asset | 3,904 |  | 4,341
Other debtors | 23,476 |  | 5,745
| 56,217 |  | 40,249

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 84,408 |  | 76,798
Trade creditors | 10,019 |  | 914
Amounts owed to associates | 465,479 |  | 554,377
Taxation and social security | 55,790 |  | 35,957
Other creditors | 96,993 |  | 69,004
| 712,689 |  | 737,050

Bank borrowings are secured by way of a fixed and floating charge over the company's assets.

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 32,292 |  | 120,478