Excellence In Healthcare Limited - Period Ending 2018-07-31
Excellence In Healthcare Limited - Period Ending 2018-07-31
Registration number:
Excellence In Healthcare Limited
for the Year Ended 31 July 2018
Network House
Station Yard
Thame
Oxfordshire
OX9 3UH
Excellence In Healthcare Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Excellence In Healthcare Limited
Company Information
Directors |
Dr Andrew Michael Hopkins Mrs Jill Hopkins |
Registered office |
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Accountants |
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Page 1 |
Excellence In Healthcare Limited
(Registration number: 07304545)
Balance Sheet as at 31 July 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Excellence In Healthcare Limited
(Registration number: 07304545)
Balance Sheet as at 31 July 2018
Approved and authorised by the
.........................................
Director
Page 3 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
UK
The principal place of business is:
Chart Brow
Puddleduck Lane
Toys Hill
Westerham
Kent
TN16 1PY
England
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover
Turnover represents dental fees receivable.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 4 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2018
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment, fixtures and fittings |
5 Years straight line method |
Computer equipment |
3 Years straight line method |
Motor vehicles |
25% reducing balance |
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Goodwill, being the amount paid in connection with the acquisition of the businesses, is being amortised evenly over the estimated useful life of 10 years. In previous periods the goodwill had an estimated useful life of 20 years.
If the 20 year estimate of goodwill were still in place amortisation in the year would have been £32,752 and the net value of goodwill as at the year end would have been £492,122.
Asset class |
Amortisation method and rate |
Goodwill |
10 Years straight line method (Previously 20 years) |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Page 5 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2018
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2018
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 August 2017 |
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At 31 July 2018 |
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Amortisation |
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At 1 August 2017 |
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Amortisation charge |
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At 31 July 2018 |
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Carrying amount |
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At 31 July 2018 |
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At 31 July 2017 |
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Tangible assets |
Computer equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 August 2017 |
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Additions |
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Disposals |
- |
( |
- |
( |
At 31 July 2018 |
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Depreciation |
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At 1 August 2017 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
( |
At 31 July 2018 |
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Carrying amount |
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At 31 July 2018 |
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At 31 July 2017 |
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Page 7 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2018
Debtors |
2018 |
2017 |
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Trade debtors |
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Prepayments |
4,077 |
4,078 |
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Other debtors |
14,547 |
12,390 |
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Director 1 current account (Overdrawn) |
162,605 |
51,386 |
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Page 8 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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- |
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Trade creditors |
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Credit card account |
145 |
313 |
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Corporation tax control |
54,440 |
50,347 |
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Due after one year |
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Loans and borrowings |
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- |
Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Finance lease liabilities |
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- |
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Page 9 |