Healthcare House Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05771934 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Healthcare House Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Timothy James Lockett

Frances Lockett

Beverley Jane Lockett

REGISTERED OFFICE:

70-72 Kirkgate Silsden

Keighley

West Yorkshire

BD20 0PA

REGISTERED NUMBER:

05771934 (England and Wales)

ACCOUNTANTS:

Marshall Krysko Limited

70-72 Kirkgate

Silsden

West Yorkshire

BD20 0PA

FIXED ASSETS

Tangible assets

4

627

-

Investment property

5

2,900,000

2,500,000

2,900,627

2,500,000

CURRENT ASSETS

Stocks

52,632

-

Debtors

6

332,402

477,502

Cash at bank

41,835

33,313

426,869

510,815

CREDITORS

Amounts falling due within one year

7

397,301

297,735

NET CURRENT ASSETS

29,568

213,080

TOTAL ASSETS LESS CURRENT LIABILITIES

2,930,195

2,713,080

PROVISIONS FOR LIABILITIES

187,845

28,500

NET ASSETS

2,742,350

2,684,580

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Share premium

558,571

558,571

Retained earnings

2,163,779

2,106,009

2,742,350

2,684,580

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 14 December 2022 and were signed on its behalf by:

Timothy James Lockett - Director

1.	STATUTORY INFORMATION

Healthcare House 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.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rental of investment property is recognised in the period to which the rental services are provided and in accordance with lease agreements.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

833

At 31 March 2022

833

DEPRECIATION

Charge for year

206

At 31 March 2022

206

NET BOOK VALUE

At 31 March 2022

627

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

2,500,000

Revaluations

400,000

At 31 March 2022

2,900,000

NET BOOK VALUE

At 31 March 2022

2,900,000

At 31 March 2021

2,500,000

Freehold investment property is included at the revalued amount of £2,900,000 based on a Directors valuation and a letter from Holroyd Miller, Chartered Valuation Surveyors on 22 April 2022, at an open market value subject to existing leases. The historic cost of the property is £1,739,201.

The company values its land and buildings at an open market value subject to existing leases. These are reviewed on a regular basis for reasonableness.

In the opinion of the directors, the fair value of the freehold investment property at 31 March 2022 does not materially differ from the valuation.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

15,000

1,047

Other debtors

317,402

476,455

332,402

477,502

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

18,255

1,033

Taxation and social security

11,056

32,136

Other creditors

367,990

264,566

397,301

297,735

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount of £364,095 (2021 - £254,535) owed to Timothy Lockett. The balance is interest free and payable on demand.