Sanctum Healthcare Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11265019 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

SANCTUM HEALTHCARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr A Raffi

REGISTERED OFFICE:

1, The Blackbox

Beech Lane

Wilmslow

SK9 5ER

REGISTERED NUMBER:

11265019 (England and Wales)

ACCOUNTANTS:

Sedulo Accountants Limited

Chartered Certified Accountants

62-66 Deansgate

Manchester

M3 2EN

FIXED ASSETS

Tangible assets

4

85,746

85,311

Investments

5

37,400

-

123,146

85,311

CURRENT ASSETS

Debtors

6

91,804

17,759

Cash at bank

161,180

297,710

252,984

315,469

CREDITORS

Amounts falling due within one year

7

128,418

225,086

NET CURRENT ASSETS

124,566

90,383

TOTAL ASSETS LESS CURRENT LIABILITIES

247,712

175,694

CREDITORS

Amounts falling due after more than one year

8

(56,252

)

-

PROVISIONS FOR LIABILITIES

(13,897

)

(16,209

)

NET ASSETS

177,563

159,485

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

177,553

159,475

177,563

159,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2022 and were signed by:

Dr A Raffi - Director

1.	STATUTORY INFORMATION

Sanctum Healthcare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

12.5% on cost

Computer equipment

-

33% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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.

Going concern

In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2020

58,147

32,167

90,314

Additions

25,012

-

25,012

At 31 August 2021

83,159

32,167

115,326

DEPRECIATION

At 1 September 2020

1,818

3,185

5,003

Charge for year

13,855

10,722

24,577

At 31 August 2021

15,673

13,907

29,580

NET BOOK VALUE

At 31 August 2021

67,486

18,260

85,746

At 31 August 2020

56,329

28,982

85,311

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

73,000

Revaluations

(35,600

)

At 31 August 2021

37,400

NET BOOK VALUE

At 31 August 2021

37,400

Cost or valuation at 31 August 2021 is represented by:

Other

investments

£

Valuation in 2021

(35,600

)

Cost

73,000

37,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Amounts owed by group undertakings

-

9,750

Other debtors

91,804

8,009

91,804

17,759

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Bank loans and overdrafts

75,002

102,000

Trade creditors

2,826

24,287

Taxation and social security

49,090

47,299

Other creditors

1,500

51,500

128,418

225,086

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.21

31.8.20

£

£

Bank loans

56,252

-

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is an amount owed by the directors of £61,231 (2020: £6,764).

These loans are interest free with no fixed repayment terms.