Patient Choice Ltd - Accounts to registrar (filleted) - small 18.2
Patient Choice Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2019 |
| for |
| Patient Choice Ltd |
| Patient Choice Ltd (Registered number: 07758016) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Patient Choice Ltd |
| Company Information |
| for the Year Ended 31 December 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Patient Choice Ltd (Registered number: 07758016) |
| Balance Sheet |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Patient Choice Ltd (Registered number: 07758016) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2019 |
| 1. | STATUTORY INFORMATION |
| Patient Choice Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of specialist prescriptions supplied during the period, exclusive of Value Added Tax and trade discounts. |
| Intangible fixed assets and amortisation |
| The original purchase of the business included the Licence to operate as a Dispensing Application Contractor. It is amortised to the Profit and loss account over its estimated economical life, which is assumed to be 25 years. |
| Tangible fixed assets and depreciation |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
| Office & Computer Equipment | 33% straight line |
| Fixtures & Fittings | 20% straight line |
| Stocks |
| Stocks are values at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes direct costs. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Patient Choice Ltd (Registered number: 07758016) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Going concern |
| Although losses were sustained in 2018 and the first part of 2019, performance in the last quarter of 2019 was strong and continues so into 2020. Therefore the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. He continues to believe the going concern basis of accounting is appropriate in preparing the financial statements. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| DAC |
| licence |
| £ |
| COST |
| At 1 January 2019 |
| and 31 December 2019 |
| AMORTISATION |
| At 1 January 2019 |
| Amortisation for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Factored debts | - | 47,729 |
| Other debtors |
| Prepayments and accrued income |
| During the year the company entered into a factoring agreement on the NHS debtors. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Social security and other taxes |
| VAT | 25,440 | 19,161 |
| Other creditors |
| Factoring creditor | - | 47,729 |
| Accruals and deferred income |
| Patient Choice Ltd (Registered number: 07758016) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Loan - Other | 90,000 | 27,432 |
| Directors' loan accounts | 36,980 | 56,285 |
| 9. | OTHER FINANCIAL COMMITMENTS |
| The company had total commitments at the year end of £6,796 (2018:£4,610). |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is N Basil. |