Structural Healthcare Limited - Period Ending 2018-12-31

Registration number: 04820462

Structural Healthcare Limited

Unaudited Financial Statements

for the Year Ended 31 December 2018

Structural Healthcare Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 7

Structural Healthcare Limited

(Registration number: 04820462)
Statement of Financial Position as at 31 December 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	852	1,064
Current assets
Debtors	5	69,033	4,358
Cash at bank and in hand		38	7
		69,071	4,365
Creditors: Amounts falling due within one year	6	(39,582)	(50,080)
Net current assets/(liabilities)		29,489	(45,715)
Net assets/(liabilities)		30,341	(44,651)
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		29,341	(45,651)
Shareholders' funds		30,341	(44,651)

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 1

Structural Healthcare Limited

(Registration number: 04820462)
Statement of Financial Position as at 31 December 2018

For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 Income Statement has been taken.

Approved and authorised by the Board on 27 September 2019 and signed on its behalf by:
 

.........................................

Mr S C Davis
Director

.........................................

Mr G Jones
Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

Structural Healthcare Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 2
Sherdley Road Industrial Estate
Wharton Street
St Helens
Lancashire
WA9 5AA

These financial statements were authorised for issue by the Board on 27 September 2019.

2	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 comply with FRS 102 Section 1A for small entities.

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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:

Page 3

Structural Healthcare Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 
 

Page 4

Structural Healthcare Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

3	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2018	440,000	440,000
At 31 December 2018	440,000	440,000
Amortisation
At 1 January 2018	440,000	440,000
At 31 December 2018	440,000	440,000
Carrying amount
At 31 December 2018	-	-

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2017 - £Nil).
 

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Structural Healthcare Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2018	8,130	8,130
At 31 December 2018	8,130	8,130
Depreciation
At 1 January 2018	7,066	7,066
Charge for the year	212	212
At 31 December 2018	7,278	7,278
Carrying amount
At 31 December 2018	852	852
At 31 December 2017	1,064	1,064

5

Debtors

	Note	2018 £	2017 £
Trade debtors		68,733	4,358
Amounts owed by group undertakings and undertakings in which the company has a participating interest		300	-
		69,033	4,358

6

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Trade creditors		-	620
Amounts owed to group undertakings and undertakings in which the company has a participating interest		26,089	43,563
Taxation and social security		12,243	1,316
Other creditors		1,250	4,581
		39,582	50,080

Page 6

Structural Healthcare Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

7	Parent and ultimate parent undertaking

The company's immediate parent is C-Probe Group Limited, incorporated in England and Wales. The registered office is Unit 2 Sherdley Road Industrial Estate, Wharton Street, St Helens, Lancashire, WA9 5AA.

 

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