N8 Health Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05270722

N8 Health Limited

Filleted Unaudited Financial Statements

30 October 2024

N8 Health Limited

Statement of Financial Position

30 October 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	8		221,669	208,502

Current assets

Debtors	9	1,941	4,601
Cash at bank and in hand		175,105	190,559
		---------	---------
		177,046	195,160

Creditors: amounts falling due within one year	10	109,877		71,123
		---------		---------
Net current assets			67,169	124,037
			---------	---------
Total assets less current liabilities			288,838	332,539

Creditors: amounts falling due after more than one year	11		67,465	104,799

Provisions

Taxation including deferred tax	12	600	600
		---------	---------
Net assets		220,773	227,140
		---------	---------

Capital and reserves

Called up share capital	14	1	1
Profit and loss account		220,772	227,139
		---------	---------
Shareholders funds		220,773	227,140
		---------	---------

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.

For the year ending 30 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

N8 Health Limited

Statement of Financial Position (continued)

30 October 2024

These financial statements were approved by the board of directors and authorised for issue on 14 November 2025 , and are signed on behalf of the board by:

Dr P A McCrossin
Director

Company registration number: 05270722

N8 Health Limited

Notes to the Financial Statements

Year ended 30 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21a Brand Street, Hitchin, England, SG5 1JE.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

No cash flow statement has been presented for the company.

Revenue recognition

The turnover shown in the profit and loss account represents income receivable during the year.

Taxation

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.

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	-	10% 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:

Fixtures & Fittings	-	10% straight line
Equipment	-	25 % straight line

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.

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 9 (2023: 8 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	16,761	6,982

Deferred tax:

Origination and reversal of timing differences	–	( 1,231)
	--------	-------
Tax on profit	16,761	5,751
	--------	-------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 19 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	89,394	38,923
	--------	--------
Profit on ordinary activities by rate of tax	22,349	7,395
Effect of expenses not deductible for tax purposes	( 3,555)	( 742)
Effect of capital allowances and depreciation	1,157	329
Unused tax losses	( 3,190)	–
Deferred taxation	–	(1,231)
	--------	--------
Tax on profit	16,761	5,751
	--------	--------

6. Dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	79,000	51,000
	--------	--------

7. Intangible assets

	Goodwill
	£
Cost
At 1 November 2023 and 30 October 2024	119,931
	---------
Amortisation
At 1 November 2023 and 30 October 2024	119,931
	---------
Carrying amount
At 30 October 2024	–
	---------
At 31 October 2023	–
	---------

8. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 November 2023	292,947	34,012	326,959
Additions	–	17,634	17,634
	---------	--------	---------
At 30 October 2024	292,947	51,646	344,593
	---------	--------	---------
Depreciation
At 1 November 2023	86,846	31,611	118,457
Charge for the year	2,137	2,330	4,467
	---------	--------	---------
At 30 October 2024	88,983	33,941	122,924
	---------	--------	---------
Carrying amount
At 30 October 2024	203,964	17,705	221,669
	---------	--------	---------
At 31 October 2023	206,101	2,401	208,502
	---------	--------	---------

9. Debtors

	2024	2023
	£	£
Other debtors	1,941	4,601
	-------	-------

10. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	147	–
Trade creditors	1,472	1,080
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9,179	8,999
Corporation tax	16,761	6,982
Social security and other taxes	6,014	5,099
Other creditors	76,304	48,963
	---------	--------
	109,877	71,123
	---------	--------

11. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	67,465	104,799
	--------	---------

12. Provisions

	Deferred tax (note 13)
	£
At 1 November 2023 and 30 October 2024	600
	----

13. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 12)	600	600
	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	600	600
	----	----

14. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

15. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.