Company registration number 07116453 (England and Wales)
GILBODY HEALTH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
GILBODY HEALTH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
GILBODY HEALTH LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
30 April 2025
31 October 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
411,566
Tangible assets
5
-
0
137,691
-
0
549,257
Current assets
Stocks
-
127,681
Debtors
6
49,316
1,992,801
Cash at bank and in hand
-
0
409
49,316
2,120,891
Creditors: amounts falling due within one year
7
(49,310)
(656,413)
Net current assets
6
1,464,478
Total assets less current liabilities
6
2,013,735
Creditors: amounts falling due after more than one year
8
-
0
(873,703)
Provisions for liabilities
-
(32,484)
Net assets
6
1,107,548
Capital and reserves
Called up share capital
9
6
6
Profit and loss reserves
-
0
1,107,542
Total equity
6
1,107,548
GILBODY HEALTH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial period ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
2026-08-31
..............................................
Mr R B Patel
Director
Company registration number 07116453 (England and Wales)
GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Gilbody Health Limited is a private company limited by shares incorporated in England and Wales. The registered office is 118 Belgrave Road, Leicester, England, LE4 5AT.

1.1
Reporting period

The reporting period is from 1st November 2023 to the 3 0th April 2025, which is 1 8 months, this is to bring all related company year ends in line with each other. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable as the prior period is 1 2 month s,

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

During the period the trade and assets of the company were transferred to another group undertaking and the company is expected to remain dormant. The directors consider it appropriate to prepare the financial statements on a going concern basis as the company remains solvent and part of a wider group true

1.4
Revenue

Revenue represents the fair value of consideration received or receivable for goods and services provided in the ordinary course of the company’s operations, net of value added tax and other sales‑related taxes.

The company derives revenue primarily from the dispensing of pharmaceutical products reimbursed by the National Health Service (“NHS”) and from non‑NHS sales, including over‑the‑counter goods and privately dispensed prescriptions.

NHS income

Revenue from NHS prescription activity is recognised in the period in which the related pharmaceutical items are dispensed to patients. Income is measured at the estimated reimbursement value receivable from the NHS, based on prescription submissions made to the NHS Business Services Authority and management’s best estimate of amounts recoverable in respect of services provided up to the reporting date. Any subsequent adjustments arising from NHS pricing reviews or validations are recognised in the period in which they are agreed.

Non‑NHS income

Revenue from non‑NHS sales, including retail sales of over‑the‑counter medicines and privately dispensed prescriptions, is recognised at the point the goods are supplied to the customer, which is when control of the goods transfers.

Where cash is received at the time of sale, revenue is recognised immediately. Where consideration is receivable after supply, revenue is recognised when the goods are delivered and a receivable is established.

GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
20% reducing balance

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
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 current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 7 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider there to be no significant judgements or areas of estimation uncertainty for the current or prior period.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2023
Number
Number
Total
12
23
4
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2023
457,296
Disposals
(457,296)
At 30 April 2025
-
0
Amortisation and impairment
At 1 November 2023
45,730
Amortisation charged for the period
22,865
Disposals
(68,595)
At 30 April 2025
-
0
Carrying amount
At 30 April 2025
-
0
At 31 October 2023
411,566
GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023
197,411
Disposals
(197,411)
At 30 April 2025
-
0
Depreciation and impairment
At 1 November 2023
59,720
Depreciation charged in the period
27,194
Eliminated in respect of disposals
(86,914)
At 30 April 2025
-
0
Carrying amount
At 30 April 2025
-
0
At 31 October 2023
137,691
6
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
578,442
Amounts owed by group undertakings
49,316
-
0
Other debtors
-
0
8,779
49,316
587,221
2025
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
-
0
1,405,580
Total debtors
49,316
1,992,801
GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
7
Creditors: amounts falling due within one year
2025
2023
£
£
Trade creditors
-
0
72,093
Corporation tax
49,310
39,330
Other taxation and social security
-
0
13,704
Other creditors
-
0
531,286
49,310
656,413
8
Creditors: amounts falling due after more than one year
2025
2023
£
£
Amounts owed to group undertakings
-
0
505,530
Other creditors
-
0
368,173
-
0
873,703
9
Called up share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
2
2
2
2
Ordinary B shares of £1 each
4
4
4
4
6
6
6
6

The company has two classes of ordinary shares.

Ordinary shares carry full voting rights, dividend entitlement and to participate in any distribution of capital on a winding up.

Ordinary B shares have no voting rights or to participate in any distribution of capital on a winding up but full dividend rights.

10
Related party transactions

T he company has taken advantage of the exemptions under FRS 102 from disclosing transactions with other wholly owned members of the group.

11
Parent company

By virtue of ownership of issued share capital, Gilbody Holdings, is the parent immediate company.

BMP Holdings (Leicester) Limited is the ultimate parent company.

Based on the shareholding structure and voting rights of BMP Holdings (Leicester) Limited, the directors consider there is no ultimate controlling party.

GILBODY HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 10 -
12
Transfer of trade and assets

During the period, the directors undertook a reorganisation of the group’s operations.

As part of this, the trade and the majority of the assets and liabilities of the company were transferred to a fellow group undertaking, Twigcrest Limited.

The transfer resulted in the disposal of the company’s operating assets, including tangible and intangible fixed assets, and the settlement of its working capital balances.

The consideration for the transfer was satisfied through intercompany balances within the group.

Following the transfer, the company has ceased trading and is expected to remain dormant.

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