Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 1,734,891 | 1,734,891 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand | 5 |
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| 1,439,199 | 1,435,375 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 1,365,105 | 1,365,105 | ||
| Total assets less current liabilities | 3,099,996 | 3,099,996 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Share premium account |
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| Profit and loss account | (
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of The Horizons Clinic Africa Limited (registered number:
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Professor James N'Dow
Director |
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.
The Horizons Clinic Africa Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 13 Queen's Road, Aberdeen, AB15 4YL, United Kingdom.
The financial statements have been prepared under the historical cost convention, 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the Company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
| 2025 | |
| £ | |
| Cost | |
| At 30 July 2024 |
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| At 29 July 2025 |
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| Carrying value at 29 July 2025 |
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| Carrying value at 29 July 2024 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 29.07.2025 |
Ownership 29.07.2024 |
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Gambia | Provision of hospital and medical facilities |
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The capital and reserves and the profit of the subsidiary undertaking was as follows:
| Capital and reserves at 2024 |
Profit for the year ended 2024 |
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| £ | £ | |
| The Horizons Clinic (Gambia) Limited | 10,111,912 | 0 |
On 3 July 2023 it was agreed that the Company would subscribe for shares in The Horizons Clinic (Gambia) Limited in satisfaction of the existing loan. The Company now holds 75.08% of the equity shares in The Horizons Clinic (Gambia) Limited, which gives it significant influence over the financial and operating policies of the subsidiary. The capital and reserves and profit figures disclosed above have been taken from the latest finalised accounts for the year ended 31 December 2024 and have been translated using the exchange rate applicable at 31 December 2024.
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by own subsidiaries |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Cash at bank and in hand |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 50,000 | 50,000 | ||
| Allotted, called-up and not yet paid | |||
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Contingent liabilities
| 2025 | 2024 | ||
| £ | £ | ||
| Total contingent liabilities |
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Transactions with entities in which the entity itself has a participating interest
| 2025 | 2024 | ||
| £ | £ | ||
| Expenses on behalf of the subsidiary | 4,256 | 14,830 | |
| Loan converted into shares in the subsidiary | 0 | (1,732,911) | |
| Amount owed by subsidiary | 19,086 | 14,830 |
Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to a director | 7,392 | 7,392 |
This loan is repayable on demand and interest free.