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

REGISTERED NUMBER: 07185224 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2022

for

Pradhan Healthcare Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

161,667

181,875

Tangible assets

5

37,676

49,365

199,343

231,240

CURRENT ASSETS

Debtors

6

250,227

38,816

Investments

7

497,064

-

Cash at bank

316,073

737,959

1,063,364

776,775

CREDITORS

Amounts falling due within one year

8

140,767

40,750

NET CURRENT ASSETS

922,597

736,025

TOTAL ASSETS LESS CURRENT LIABILITIES

1,121,940

967,265

PROVISIONS FOR LIABILITIES

7,158

9,379

NET ASSETS

1,114,782

957,886

CAPITAL AND RESERVES

Called up share capital

9

104

102

Retained earnings

1,114,678

957,784

SHAREHOLDERS' FUNDS

1,114,782

957,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th October 2022 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:

First Floor

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.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

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 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.

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.

Current asset investments

Investments in current assets such as listed share portfolios are measured at their market value. At each reporting date the increase/decrease in fair value is measured immediately in the profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2021

and 31st March 2022

404,165

AMORTISATION

At 1st April 2021

222,290

Amortisation for year

20,208

At 31st March 2022

242,498

NET BOOK VALUE

At 31st March 2022

161,667

At 31st March 2021

181,875

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2021

20,619

50,440

71,059

Additions

2,405

-

2,405

Disposals

(5,026

)

-

(5,026

)

At 31st March 2022

17,998

50,440

68,438

DEPRECIATION

At 1st April 2021

15,389

6,305

21,694

Charge for year

3,060

11,034

14,094

Eliminated on disposal

(5,026

)

-

(5,026

)

At 31st March 2022

13,423

17,339

30,762

NET BOOK VALUE

At 31st March 2022

4,575

33,101

37,676

At 31st March 2021

5,230

44,135

49,365

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

10,158

13,070

S455 recoverable

58,885

6,315

Directors' current accounts

181,184

19,431

250,227

38,816

7.	CURRENT ASSET INVESTMENTS

31.3.22

31.3.21

£

£

Unlisted investments

497,064

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

3,000

3,000

Corporation tax payable

134,653

34,709

Accrued expenses

3,114

3,041

140,767

40,750

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

60

Ordinary A

£1

60

60

40

Ordinary B

£1

40

40

2

Ordinary C

£1

2

2

2

Ordinary D

£1

2

-

(31.3.21 - NIL)

104

102

Allotted and issued:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

2

Ordinary D

£1

2

-

(31.3.21 - NIL)

The following shares were issued during the year for cash at par :

2 Ordinary D shares of £1

Ordinary A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

Ordinary B, C and D Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

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

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2022 and 31st March 2021:

31.3.22

31.3.21

£

£

Dr N Pradhan and Mrs G Pradhan

Balance outstanding at start of year

19,431

83,000

Amounts advanced

330,859

387,539

Amounts repaid

(169,106

)

(451,108

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

181,184

19,431

The loan is repayable on demand and interest at 2.5% was charged during the year.

11.

CONTROL

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