HM Healthcare Ltd. - Period Ending 2018-10-31
HM Healthcare Ltd. - Period Ending 2018-10-31
Registration number:
HM Healthcare Ltd.
for the Year Ended 31 October 2018
Chartered Certified Accountant
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW
HM Healthcare Ltd.
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
HM Healthcare Ltd.
Company Information
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Directors |
Dr Hugh Martin Mrs Anne Martin |
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Company secretary |
Dr Hugh Martin |
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Registered office |
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Accountants |
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Page 1 |
HM Healthcare Ltd.
Strategic Report for the Year Ended 31 October 2018
The directors present their strategic report for the year ended 31 October 2018.
Principal activity
The principal activity of the company is NHS General Practitioner
Approved by the
.........................................
Company secretary and director
.........................................
Director
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Page 2 |
HM Healthcare Ltd.
Directors' Report for the Year Ended 31 October 2018
The directors present their report and the financial statements for the year ended 31 October 2018.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the
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Company secretary and director
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Director
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Page 3 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
HM Healthcare Ltd.
for the Year Ended 31 October 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HM Healthcare Ltd. for the year ended 31 October 2018 as set out on pages 5 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of HM Healthcare Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of HM Healthcare Ltd. and state those matters that we have agreed to state to the Board of Directors of HM Healthcare Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HM Healthcare Ltd. and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that HM Healthcare Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of HM Healthcare Ltd.. You consider that HM Healthcare Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of HM Healthcare Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountant
Wilbury Way
Hitchin
Herts
SG4 0TW
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Page 4 |
HM Healthcare Ltd.
Profit and Loss Account for the Year Ended 31 October 2018
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Note |
2018 |
2017 |
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Turnover |
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Administrative expenses |
( |
( |
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Operating profit |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
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Page 5 |
HM Healthcare Ltd.
(Registration number: 09256424)
Balance Sheet as at 31 October 2018
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Note |
2018 |
2017 |
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Current assets |
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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 assets/(liabilities) |
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( |
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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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( |
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Total equity |
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( |
For the financial year ending 31 October 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
.........................................
Company secretary and director
.........................................
Director
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Page 6 |
HM Healthcare Ltd.
Statement of Changes in Equity for the Year Ended 31 October 2018
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Share capital |
Profit and loss account |
Total |
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At 1 November 2017 |
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( |
( |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 October 2018 |
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Share capital |
Profit and loss account |
Total |
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At 1 November 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 October 2017 |
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( |
( |
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Page 7 |
HM Healthcare Ltd.
Notes to the Financial Statements for the Year Ended 31 October 2018
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current 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.
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Page 8 |
HM Healthcare Ltd.
Notes to the Financial Statements for the Year Ended 31 October 2018
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Revenue |
The analysis of the company's revenue for the year from continuing operations is as follows:
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2018 |
2017 |
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Sale of goods |
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Rendering of services |
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Operating profit |
Arrived at after charging/(crediting)
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2018 |
2017 |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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Page 9 |
HM Healthcare Ltd.
Notes to the Financial Statements for the Year Ended 31 October 2018
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2018 |
2017 |
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Wages and salaries |
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Other employee expense |
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2018 |
2017 |
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Administration and support |
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Directors' remuneration |
The directors' remuneration for the year was as follows:
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2018 |
2017 |
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Remuneration |
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Taxation |
Tax charged/(credited) in the income statement
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2018 |
2017 |
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Current taxation |
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UK corporation tax |
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Cash and cash equivalents |
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2018 |
2017 |
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Cash at bank |
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Creditors |
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Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Amounts due to related parties |
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Other payables |
- |
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Income tax liability |
3,792 |
3,268 |
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Share capital |
Allotted, called up and fully paid shares
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Page 10 |
HM Healthcare Ltd.
Notes to the Financial Statements for the Year Ended 31 October 2018
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2018 |
2017 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Dividends |
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2018 |
2017 |
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£ |
£ |
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Interim dividend of £ |
14,000 |
16,000 |
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Page 11 |
HM Healthcare Ltd.
Detailed Profit and Loss Account for the Year Ended 31 October 2018
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2018 |
2017 |
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Turnover (analysed below) |
34,989 |
31,733 |
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Gross profit (%) |
100% |
100% |
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Administrative expenses |
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Employment costs (analysed below) |
(8,807) |
(8,529) |
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Establishment costs (analysed below) |
(210) |
(260) |
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General administrative expenses (analysed below) |
(5,952) |
(6,052) |
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Finance charges (analysed below) |
(60) |
(55) |
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(15,029) |
(14,896) |
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Operating profit |
19,960 |
16,837 |
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Profit before tax |
19,960 |
16,837 |
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Page 12 |
HM Healthcare Ltd.
Detailed Profit and Loss Account for the Year Ended 31 October 2018
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2018 |
2017 |
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Turnover |
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Herts Urgent Care |
4,190 |
21,433 |
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Grange Street Surgery |
30,799 |
10,300 |
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34,989 |
31,733 |
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Employment costs |
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Directors remuneration |
(8,424) |
(8,164) |
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Staff training |
(383) |
(365) |
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(8,807) |
(8,529) |
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Establishment costs |
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Use of home as office |
(210) |
(260) |
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General administrative expenses |
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Telephone |
(410) |
(488) |
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Computer software and maintenance costs |
(168) |
(144) |
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Printing, postage and stationery |
(371) |
(360) |
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Motor expenses |
(1,165) |
(1,170) |
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Travel and subsistence |
(500) |
(492) |
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Accountancy fees |
(870) |
(1,086) |
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Professional indemnity insurance |
(2,468) |
(2,312) |
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(5,952) |
(6,052) |
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Finance charges |
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Bank charges |
(60) |
(55) |
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Page 13 |