GNHC Limited - Period Ending 2021-04-30
GNHC Limited - Period Ending 2021-04-30
Registration number:
GNHC Limited
trading as
for the Year Ended 30 April 2021
GNHC Limited
trading as Greenwich Natural Health Centre
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
GNHC Limited
trading as Greenwich Natural Health Centre
Company Information
Director |
Ms Patricia Truman De Reimers |
Registered office |
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Accountants |
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GNHC Limited
trading as Greenwich Natural Health Centre
(Registration number: 03320094)
Balance Sheet as at 30 April 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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( |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
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- |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
300 |
300 |
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Profit and loss account |
(15,936) |
(23,221) |
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Shareholders' deficit |
(15,636) |
(22,921) |
For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
GNHC Limited
trading as Greenwich Natural Health Centre
(Registration number: 03320094)
Balance Sheet as at 30 April 2021
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the Company will be able to meet its debts as they fall due. However, during the year the company made a profit of £7,156 (2020: loss of £24,942), and at the end of the year the company had net liabilities of £15,636 (2020: £22,921). Although there are significant uncertainties, the director believes it is appropriate to prepare the financial statements on a going concern basis, as they believe the business will be financially viable again once trading restrictions as a result of COVID 19 are rescinded.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured and
it is probable that future economic benefits will flow to the entity.
The income from services are recognised when delivered. Where the service is incomplete at the year end, turnover represents the value of service provided to that date based on an appropriate proportion of the total expected consideration at completion.
GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture and fittings |
25% Reducing balance |
Office equipment |
25% Reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
Tax charged/(credited) in the income statement
2021 |
2020 |
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Current taxation |
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UK corporation tax |
- |
( |
Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
( |
Tax receipt in the income statement |
( |
( |
Deferred tax
GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2020 |
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At 30 April 2021 |
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Depreciation |
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At 1 May 2020 |
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Charge for the year |
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At 30 April 2021 |
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Carrying amount |
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At 30 April 2021 |
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At 30 April 2020 |
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Debtors |
2021 |
2020 |
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Other debtors |
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GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
- |
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Directors loan account |
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Taxation and social security |
- |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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- |
Bank overdrafts |
- |
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Related party transactions |
Summary of transactions with other related parties
(the director of the company)
At the balance sheet date the amount due to P Truman De Reimers was £16,700 (2020: £16,700).
GNHC Limited
trading as Greenwich Natural Health Centre
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
COVID 19 |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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300 |
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300 |