The directors present the strategic report for the year ended 31 December 2025 for Healthpoint Limited and its subsidiaries (the "Healthpoint Group").
Turnover amounted to £21.7m for the year ended 31 December 2025, compared with £21m for the year ended 31 December 2024.
Profit for the period after taxation amounted to £1.490m compared with £1.609m for the previous period.
In December 2024 Healthpoint Ltd acquired The Miles Group. The Miles Group is a syndicated company of sales people, this acquisition is believed to strengthen the sales of the Healthpoint portfolio of products into pharmacies nationwide along with additional opportunities for 3PL services to be offered to their clients. During 2025, The Mile Group was hived up into Healthpoint Limited to create a single company, sharing administrative functions to create a more profitable company.
Financial position
At the Balance Sheet date, shareholders’ funds showed an increase of 32.3% compared with the previous period. The previous period was lower due to dividends paid in the restructure and the strike-off of HP14 and HP16.
Pressure on the cost of goods for resale remains, with excessive container prices, supply chain constraints brought on by the Ukraine war and the continued weakness of £Sterling against the US$ and Euro all contributing to a challenging environment.
During 2025, the UK economy continued to experience a period of subdued growth, with consumer confidence remaining constrained by the cumulative effects of inflationary pressures, higher interest rates and ongoing cost of living challenges. While inflation moderated during the year, household spending behaviours remained cautious, particularly in discretionary retail categories, reflecting continued pressure on real disposable incomes.
In view of this the Directors consider the state of the Healthpoint Group's affairs to be satisfactory given the current economic climate.
We have set out below a number of risk factors that we believe could cause the Healthpoint Group's actual figures to differ materially from expected results. However, other factors could adversely affect the results and so the factors set out below should not be considered to be a complete set of all potential risks and certainties.
Business conditions and the general economy
The profitability of the Healthpoint Group could be adversely affected by a worsening of general economic conditions in the United Kingdom. Factors such as unemployment, interest rates and inflation could significantly affect the retail market. Whilst a short term worsening in economic conditions in the United Kingdom should not significantly adversely impact profitability, a sustained downturn over a number of years would possibly lead to reduced profits.
Liquidity and financing
Liquidity and financing risks relate to the Healthpoint Group's ability to pay for goods and services required to trade on a day-to-day basis. As part of the Dayes Group BV, the Healthpoint Group is included in the Dayes Group BV’s consortium of banks, enabling it to have in place sufficient working capital facilities as required.
Credit risk
The Healthpoint Group trades B2B with recognised creditworthy third parties. It is the Healthpoint Group's policy that all customers who wish to trade on credit terms are subject to credit vetting procedures. In addition, receivable balances are monitored on an ongoing basis with the result that the Healthpoint Group's exposure to bad debts is mitigated. As part of the Dayes Group BV, credit insurance is in place for the majority of its customers and is definitely in place for all the major customers.
The Healthpoint Group trades mainly in GBP and has minimal exposure in other currencies. Some imported products are acquired in US$ and EUR and are subject to currency fluctuations. Wherever possible the Healthpoint Group hedges its trade and uses a third party to provide advice and the most appropriate currency deals. Once the Healthpoint Group migrates to the Dayes Group BV banking consortium the hedging policy will be retained within the Dayes Group BV.
Regulatory compliance risk
The Healthpoint Group is subject to regulatory compliance risk which can arise from a failure to comply fully with laws, regulations or codes applicable. As well as Health & Safety, licensing and fire regulations, part of our business sector is robustly governed by the Medicines and Healthcare Products Regulatory Agency. Non-compliance can lead to fines, enforced suspension from sale of certain products or public reprimand.
Failure of information systems
The Healthpoint Group's business is dependent on the efficient and uninterrupted operation of information technology and computer systems, which are vulnerable to damage or interruption from power loss, telecommunications failure, sabotage, vandalism or similar misconduct. Contingency and recovery plans are in place in order to mitigate the impact of such failures.
Looking to the future the Healthpoint Group is expected to at least maintain its recent financial performance and maintain results from the Miles Group acquisition, but enhanced cross selling opportunities and economies of scale within the Dayes Group BV are expected to improve the performance even further.
On behalf of the board
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors present their annual report and financial statements for the year ended 31 December 2025.
The results for the year are set out on page 9.
No ordinary dividends were paid (2024: £6,002,515). The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
We have audited the financial statements of Healthpoint Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including material accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:
Enquiries with management about any known or suspected instances of non-compliance with laws and regulations and fraud;
Auditing the risk of fraud in revenue, including through the testing of income cut off at the period end and through sales transaction testing to provide comfort that revenue existed and is correctly included in the financial statements;
Reading correspondence and obtaining certification of compliance from required accreditations such as ISO 13485, 98/79/EC, GDP and Whole Distribution Authorisation;
Reviewing the assumptions made on key estimates and judgements; and
Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the parent company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £976,621 (2024 - £1,608,837 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
Healthpoint Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 11 Darwin Court, Blackpool Technology Park, Blackpool, FY2 0JN.
The group consists of Healthpoint Limited and all of its subsidiaries.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
On 30/06/25, the trade and assets of The Miles Group Limited were transferred to Healthpoint Limited. A hybrid accounting approach has been applied as the transaction represented a group reconstruction under common control.
Goodwill was recognised on this transaction to the extent that the consideration paid for the original acquisition of the Miles (Sales Brokers) Limited (the immediate parent company of The Miles Group Limited) exceeded the book value of the net assets acquired, at the original date of acquisition.
The consolidated group financial statements consist of the financial statements of the parent company Healthpoint Limited together with all entities controlled by the parent company (its subsidiaries).
All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
At the time of approving the financial statements, the directors have a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and 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, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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 recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group 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. The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
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.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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, 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.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
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 group after deducting all of its 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 payments 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. Amounts 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.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
The tax expense represents the sum of the tax currently payable and deferred 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 if, and only if, there is 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.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 leased asset are consumed.
In the application of the group’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 following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Management assess whether there are any indicators of impairment for investments at the end of each reporting period. An impairment exists when the carrying value of the investment exceeds its recoverable amount.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
During the year, The Miles Group Limited transferred its trade and certain assets to the Company as part of an internal reorganisation. As a result, The Miles Group Limited no longer carries on a trade and its net assets at the reporting date are minimal. The reorganisation was considered by the Directors to be an impairment indicator of the Company’s investment in the subsidiary, which was previously carried at a cost of £1,400,910. In assessing the recoverable amount of the investment, the Directors exercised judgement in concluding that, following the transfer of the trade and assets, the investment no longer has an underlying recoverable value. Accordingly, the recoverable amount of the investment was determined to be nil.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 2).
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
Motor vehicles additions relate to assets transferred from The Miles Group Limited.
During the year, the trade and assets of The Miles Group Limited were transferred to Healthpoint Limited. As a result of the transfer, goodwill was recognised representing the excess of the cost of investment over the net asset value acquired at the date of acquisition.
Details of the company's subsidiaries at 31 December 2025 are as follows:
Registered office addresses (all UK unless otherwise indicated):
Miles (Sales Brokers) Limited (company registration number 03671627) and The Miles Group Limited (company registration number 01324083) have taken the exemption in Section 479A of the Companies Act 2006 ("the Act") from the requirements in the Act for their individual accounts to be audited. The guarantee given by the company under Section 479A of the Act is disclosed in note 21.
During the year, the trade and assets and liabilities of The Miles Group Limited were transferred to Healthpoint Limited by way of a hive up. Following this transfer, The Miles Group Limited ceased to trade and had no significant assets, liabilities or operations remaining as at the reporting date. It is the intention of the directors to formally dissolve the company in due course.
The investment in The Miles Group Limited has been written down to £nil in these financial statements, reflecting the cessation of its trade and the intention to wind up the entity.
At the year end, provisions for stock amounted to £83,347 (2024: £55,166).
The invoice discounting facility is secured over the book debts of the company.
The following are the major deferred tax liabilities and assets recognised by the group and company:
It is not possible to quantify the amounts expected to reverse over the upcoming twelve months owing to uncertainties over the capital expenditure of the company.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.
The company's obligations under its financing arrangements are secured by a debenture incorporating fixed and floating charges over the assets and undertaking of the company. The fixed charges include the company's intellectual property, trade marks, bank accounts, contractual rights, receivables, insurance proceeds, goodwill and other specified assets. The debenture also contains a floating charge over all present and future assets and undertaking of the company together with a negative pledge. At the balance sheet date, the company had granted security over substantially all of its assets in connection with the group's financing arrangements.
Parent company guarantee
In order for the company's subsidiaries, Miles (Sales Brokers) Limited and The Miles Group Limited, to take the audit exemption in Section 479A of the Companies Act 2006, the company has guaranteed all outstanding liabilities of these subsidiaries at 31 December 2025 until those liabilities are satisfied in full.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Ireland', not to disclose related party transactions with wholly owed members of the group.