21st Century Healthcare Limited 31/03/2020 iXBRL

21st Century Healthcare Limited 31/03/2020 iXBRL

21ST CENTURY HEALTHCARE LIMITED - Company Information

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Company Registration Number: 08003559
21ST CENTURY HEALTHCARE LIMITED
Unaudited Filleted Financial Statements
31 March 2020
21ST CENTURY HEALTHCARE LIMITED
Contents
Balance Sheet
Statement Of Changes In Equity
Notes To The Financial Statements
21ST CENTURY HEALTHCARE LIMITED
Balance Sheet
31 March 2020
2020 2019
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Current assets
Debtors 6 6,820 24,552
Cash at bank and in hand 369,954 247,506
_______ _______
376,774 272,058
Creditors: amounts falling due
within one year 7 ( 32,053) ( 32,536)
_______ _______
Net current assets 344,721 239,522
_______ _______
Net assets 344,721 239,522
_______ _______
Capital and reserves
Called up share capital 8 102 102
Profit and loss account 344,619 239,420
_______ _______
Shareholders funds 344,721 239,522
_______ _______
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 December 2020 , and are signed on behalf of the board by:
...................................
Dr R Nannapaneni
Director
Company Registration Number: 08003559
21ST CENTURY HEALTHCARE LIMITED
Statement Of Changes In Equity
Year Ended 31 March 2020
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2018 100 158,677 158,777
Total comprehensive income for the year
Profit for the year 86,743 86,743
Total investments by and distributions to owners
Issue of shares 2 2
Dividends paid and payable ( 6,000) ( 6,000)
_______ _______ _______
At 31 March 2019 and 1 April 2019 102 239,420 239,522
Total comprehensive income for the year
Profit for the year 111,199 111,199
Total investments by and distributions to owners
Dividends paid and payable ( 6,000) ( 6,000)
_______ _______ _______
At 31 March 2020 102 344,619 344,721
_______ _______ _______
21ST CENTURY HEALTHCARE LIMITED
Notes To The Financial Statements
Year Ended 31 March 2020
1. General information
The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is 21st Century Healthcare, CHP, Clifton House, Four Elms Road, Cardiff, Wales, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference. However, at 31 March 2020 there were no timing differences extant requiring provision.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applicable to the company are classed as basic, as defined in the Accounting Standard, and as such are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2019 and 31 March 2020 50,000
_______
Amortisation
At 1 April 2019 and 31 March 2020 50,000
_______
Carrying amount
At 31 March 2020 -
_______
At 31 March 2019 -
_______
6. Debtors
2020 2019
£ £
Trade debtors 5,272 2,950
Other debtors 1,548 21,602
_______ _______
6,820 24,552
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Corporation tax 26,253 20,370
Director loan accounts - 5,761
Other creditors 5,800 6,405
_______ _______
32,053 32,536
_______ _______
8. Called up share capital
Issued, called up and fully paid
2020 2019
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
Ordinary A shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
102 102 102 102
_______ _______ _______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2020
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Dr R Nannapaneni ( 5,761) ( 3,638) 10,000 601
_______ _______ _______ _______
2019
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Dr R Nannapaneni ( 5,508) ( 6,305) 6,052 ( 5,761)
_______ _______ _______ _______
10. Controlling party
The company is controlled by its director, Dr R Nannapaneni and his associates, who hold all of the share capital currently in issue.