COMPANY REGISTRATION NUMBER:
NI058523
|
Kingdom Healthcare Limited |
|
|
Filleted Financial Statements |
|
|
Kingdom Healthcare Limited |
|
|
Statement of Financial Position |
|
31 March 2025
Fixed assets
|
Tangible assets |
6 |
8,043 |
31,848 |
|
|
|
|
Current assets
|
Debtors |
7 |
4,047,301 |
2,547,822 |
|
Cash at bank and in hand |
106,176 |
249,821 |
|
------------ |
------------ |
|
4,153,477 |
2,797,643 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
2,305,691) |
(
930,919) |
|
------------ |
------------ |
|
Net current assets |
1,847,786 |
1,866,724 |
|
------------ |
------------ |
|
Total assets less current liabilities |
1,855,829 |
1,898,572 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
– |
(
2,589) |
|
|
|
|
|
Provisions |
10 |
– |
(
21,121) |
|
------------ |
------------ |
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Net assets |
1,855,829 |
1,874,862 |
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------------ |
------------ |
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|
|
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Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
1,855,729 |
1,874,762 |
|
------------ |
------------ |
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Shareholders funds |
1,855,829 |
1,874,862 |
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------------ |
------------ |
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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.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
27 April 2026
, and are signed on behalf of the board by:
Company registration number:
NI058523
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Kingdom Healthcare Limited |
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Notes to the Financial Statements |
|
Year Ended 31 March 2025
1.
General Information
The company is a private company limited by shares registered in Northern Ireland. The address of the registered office is 32 English Street, Downpatrick, Northern Ireland, BT30 6AB.
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. 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. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - The company assesses the carrying value of amounts due from group companies annually or more frequently if warranted by a change in circumstances. Recoverability is dependent upon assumptions and judgements regarding future cash flows and profit margins. - Determination of whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viabilities and expected future financial performance of the asset. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - Determination of recoverability of trade debts. A specific provision is made against certain debts where in the opinion of the directors there is concern over the recoverability of the debts.
Revenue Recognition Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, being the provision of permanent and temporary staff.
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.
Operating Leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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:
|
Goodwill |
- |
50% 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.
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 |
- |
20% straight line |
|
Motor vehicles |
- |
25% straight line |
|
|
|
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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.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
195
(2024:
190
).
5.
Intangible Assets
|
Goodwill |
|
£ |
|
Cost |
|
|
At 1 April 2024 and 31 March 2025 |
226,069 |
|
--------- |
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Amortisation |
|
|
At 1 April 2024 and 31 March 2025 |
226,069 |
|
--------- |
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Carrying amount |
|
|
At 31 March 2025 |
– |
|
--------- |
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At 31 March 2024 |
– |
|
--------- |
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|
6.
Tangible Assets
|
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 April 2024 |
173,091 |
42,501 |
215,592 |
|
Disposals |
– |
(
7,250) |
(
7,250) |
|
--------- |
-------- |
--------- |
|
At 31 March 2025 |
173,091 |
35,251 |
208,342 |
|
--------- |
-------- |
--------- |
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Depreciation |
|
|
|
|
At 1 April 2024 |
147,365 |
36,379 |
183,744 |
|
Charge for the year |
17,683 |
4,610 |
22,293 |
|
Disposals |
– |
(
5,738) |
(
5,738) |
|
--------- |
-------- |
--------- |
|
At 31 March 2025 |
165,048 |
35,251 |
200,299 |
|
--------- |
-------- |
--------- |
|
Carrying amount |
|
|
|
|
At 31 March 2025 |
8,043 |
– |
8,043 |
|
--------- |
-------- |
--------- |
|
At 31 March 2024 |
25,726 |
6,122 |
31,848 |
|
--------- |
-------- |
--------- |
|
|
|
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Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
Motor vehicles |
|
£ |
|
At 31 March 2025 |
– |
|
---- |
|
At 31 March 2024 |
3,100 |
|
------- |
|
|
7.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
908,976 |
586,017 |
|
Amounts owed by group undertakings |
2,690,414 |
1,731,237 |
|
Other debtors |
447,911 |
230,568 |
|
------------ |
------------ |
|
4,047,301 |
2,547,822 |
|
------------ |
------------ |
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|
|
8.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
45,370 |
29,420 |
|
Amounts owed to group undertakings |
333,143 |
52,074 |
|
Corporation tax |
113,553 |
129,404 |
|
Social security and other taxes |
96,116 |
– |
|
Other creditors |
1,717,509 |
720,021 |
|
------------ |
--------- |
|
2,305,691 |
930,919 |
|
------------ |
--------- |
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The company has given an all asset debenture to Close Brothers Invoice Finance containing fixed and floating charges, dated 3 February 2023. The floating charge covers all the property or undertaking of the company. This charge was satisfied on 8 October 2025.
Included within other creditors is a hire purchase creditor totalling £16,414 (2024: £17,471) that is secured on the asset to which it relates.
9.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Other creditors |
– |
2,589 |
|
---- |
------- |
|
|
|
Included within other creditors is a hire purchase creditor that is secured on the asset to which it relates.
10.
Provisions
|
Deferred tax |
|
£ |
|
At 1 April 2024 |
21,121 |
|
Charge against provision |
(
21,121) |
|
-------- |
|
At 31 March 2025 |
– |
|
-------- |
|
|
11.
Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2025 |
2024 |
|
£ |
£ |
|
Not later than 1 year |
52,587 |
19,380 |
|
Later than 1 year and not later than 5 years |
146,500 |
20,535 |
|
Later than 5 years |
33,600 |
– |
|
--------- |
-------- |
|
232,687 |
39,915 |
|
--------- |
-------- |
|
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12.
Events after the End of the Reporting Period
On 25 September 2025, the company entered into a separate security agreement, in relation to the lending facilities, creating fixed and floating charges over its assets: - a debenture agreement with HSBC UK Bank PLC, acting as security agent, registered with Companies House on 26 September 2025. This floating charge covers all property or undertaking of the company and includes a negative pledge restricting further security creation over the company's assets. This transaction occurred after the reporting date and before the financial statements were authorised for issue, and has not resulted in any adjustments to the financial statements for the current year.
13.
Summary Audit Opinion
The auditor's report dated
27 April 2026
was
unqualified
.
The senior statutory auditor was
Iain Round BSc FCA
, for and on behalf of
Menzies LLP
.
14.
Related Party Transactions
The company is a wholly owned subsidiary of Kingdom Services Group Limited. The company has taken advantage of the exemption in FRS102 Section 33.1A from disclosing transactions or balances with entities which form part of the group.
15.
Controlling Party
The immediate parent company is Kingdom Services Group Limited, a company incorporated in England and Wales and whose registered office is Kingdom House, Ashton Road, Newton Le-Willows, WA12 0HF. The largest and smallest group in which the results of the company are consolidated is that headed by Kingdom Services Group Limited. The consolidated financial statements are available to the public and may be obtained from Companies House. The directors consider the ultimate controlling party to be
T Barton
.