| SA Maddison Holdings Limited |
| Registered number: |
09299899 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
1,075,000 |
|
|
1,075,000 |
|
| Current assets |
| Debtors |
4 |
|
53,726 |
|
|
49,938 |
| Cash at bank and in hand |
|
|
24,249 |
|
|
10,042 |
|
|
|
77,975 |
|
|
59,980 |
|
| Creditors: amounts falling due within one year |
5 |
|
(60,468) |
|
|
(125,371) |
|
| Net current assets/(liabilities) |
|
|
|
17,507 |
|
|
(65,391) |
|
| Total assets less current liabilities |
|
|
|
1,092,507 |
|
|
1,009,609 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(476,924) |
|
|
(535,534) |
|
|
|
| Net assets |
|
|
|
615,583 |
|
|
474,075 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
615,581 |
|
|
474,073 |
|
| Shareholders' funds |
|
|
|
615,583 |
|
|
474,075 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Dr S Bagga |
| Director |
| Approved by the board on 4 July 2022 |
|
| SA Maddison Holdings Limited |
| Notes to the Accounts |
| for the year ended 31 March 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 April 2021 |
1,075,000 |
|
|
At 31 March 2022 |
1,075,000 |
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
459 |
|
- |
|
Other debtors |
53,267 |
|
49,938 |
|
|
|
|
|
|
53,726 |
|
49,938 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
56,046 |
|
74,937 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
48,541 |
|
Taxation and social security costs |
2,934 |
|
405 |
|
Other creditors |
1,488 |
|
1,488 |
|
|
|
|
|
|
60,468 |
|
125,371 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
466,314 |
|
504,606 |
|
Directors loan account |
10,610 |
|
30,928 |
|
|
|
|
|
|
476,924 |
|
535,534 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
|
|
|
2022 |
|
2021 |
| £ |
£ |
|
|
Management fees from subsidiary company |
|
36,000 |
|
36,000 |
|
Dividends received from subsidiary company |
|
173,000 |
|
200,000 |
|
|
|
|
|
|
|
|
| 8 |
Controlling party |
|
|
The company holds 100 % of issued share capital of Bosworth Dental Limited. The subsidiary is incorporated in the U.K. The company has relied on the exemption provisions of section 400 to 401 of CA2006 for small companies. |
|
|
Holdings in the subsidiary |
|
SA Maddison Holdings Limited holds 100% of the 2 Ordinary £1 Shares. |
|
|
Financial information about the holding company |
|
Aggregate Share Capital = £2 |
|
|
| 9 |
Other information |
|
|
SA Maddison Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
41 Station Road |
|
Market Bosworth |
|
Nuneaton |
|
Warwickshire |
|
CV13 0LT |
