Pradhan Healthcare Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07185224 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Pradhan Healthcare Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

222,292

242,500

Tangible assets

5

2,090

3,337

224,382

245,837

CURRENT ASSETS

Debtors

6

18,587

27,371

Cash at bank

787,477

702,102

806,064

729,473

CREDITORS

Amounts falling due within one year

7

(41,086

)

(26,892

)

NET CURRENT ASSETS

764,978

702,581

TOTAL ASSETS LESS CURRENT LIABILITIES

989,360

948,418

PROVISIONS FOR LIABILITIES

(397

)

(634

)

NET ASSETS

988,963

947,784

CAPITAL AND RESERVES

Called up share capital

8

102

102

Retained earnings

988,861

947,682

SHAREHOLDERS' FUNDS

988,963

947,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 17 December 2019 and were signed on its behalf by:

Dr N Pradhan - Director

1.	COMPANY INFORMATION

Pradhan Healthcare Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

07185224

Registered office:

49 Peter Street

Manchester

M2 3NG

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company'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.

There have been no critical judgements, estimates and assumptions made in the preparation

of these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible Fixed assets are initially measured at cost and subsequently measured at cost or

valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual

values over their useful lives on the following basis:

Fixtures and Fittings - 25% on cost

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 credited or charged to the profit

or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement

of Income and Retained Earnings, except to the extent that it relates to items recognised in

other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

404,165

AMORTISATION

At 1 April 2018

161,665

Amortisation for year

20,208

At 31 March 2019

181,873

NET BOOK VALUE

At 31 March 2019

222,292

At 31 March 2018

242,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2018

and 31 March 2019

10,782

DEPRECIATION

At 1 April 2018

7,445

Charge for year

1,247

At 31 March 2019

8,692

NET BOOK VALUE

At 31 March 2019

2,090

At 31 March 2018

3,337

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

18,587

20,358

Directors' current accounts

-

7,013

18,587

27,371

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Corporation tax payable

38,329

24,473

PAYE control account

816

786

Directors' current accounts

416

-

Accrued expenses

1,525

1,633

41,086

26,892

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

60

Ordinary A

1

60

60

40

Ordinary B

1

40

40

2

Ordinary C

1

2

2

102

102

Ordinary A Shares confer on the holders the right to vote upon any resolution proposed at

any general meeting of the company. Each share has a right to receive dividends.

Ordinary B Shares do not confer on the holders the right to vote upon any resolution

proposed at any general meeting of the company. Each share has a right to receive

dividends.

Ordinary C Shares have no voting or distribution rights. Each share has a right to dividends

only at the discretion of the A and B shareholders.

The A, B and C shares rank pari passu in terms of capital distribution rights.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 March 2019 and 31 March 2018:

2019

2018

£

£

Dr N Pradhan and Mrs G Pradhan

Balance outstanding at start of year

7,013

(10,724

)

Amounts advanced

783,809

129,012

Amounts repaid

(791,238

)

(111,275

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(416

)

7,013

The loan is repayable on demand and no interest was charged during the year.

10.

CONTROL

The ultimate controlling party is Dr N Pradhan by virtue of his 100% holding of the voting

share capital.