HealthHarmonie Limited - Period Ending 2021-03-31
HealthHarmonie Limited - Period Ending 2021-03-31
Registration number:
for the
Year Ended
HealthHarmonie Limited
Contents
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Company Information |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
HealthHarmonie Limited
Company Information
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Directors |
M C Corridan Dr P M Crowe A Jackman Dr J A Jordan |
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Company secretary |
M C Corridan |
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Registered office |
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Auditors |
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HealthHarmonie Limited
Directors' Report for the Year Ended 31 March 2021
The directors present their report and the financial statements for the year ended 31 March 2021.
Directors of the compan
The directors who held office during the year were as follows:
M C Corridan
Dr P M Crowe
A Jackman
Dr J A Jordan
Business and strategic review
Trading
As a healthcare provider, the company was significantly impacted by COVID-19 during the year. Contract revenue is wholly dependent on activity levels and, as the NHS diverted its resources to the COVID-19 response in March 2020, the volume of community-based services which the company delivers significantly reduced. A number of factors contributed to this reduction: routine referrals from GPs reduced, access to GP surgeries and other medical locations where clinics are operated was restricted, some elective procedures were suspended by the NHS and the demographic of patients meant that many were reluctant to travel to attend appointments. Revenue for April and May 2020 was at less than 50% of pre-COVID-19 levels.
The company reacted quickly to maintain patient services and protect the business. Where possible consultations were moved to virtual appointments and clinical operating procedures were changed to protect patients and staff. As a result of the reduced activity levels, over 100 staff members were placed on furlough and claims made under the Coronavirus Job Retention Scheme. Overheads were reviewed and arrangements made with key suppliers to reduce overhead costs.
During the period of reduced activity, the company took the opportunity to focus on a number of IT projects to ready the business for a return to more normal activity levels.
Activity levels steadily increased from June 2020 and by October 2020 the majority of staff had returned from furlough and activities were at near pre-COVID-19 levels. A second national lockdown hit activity in November and December 2020, although the impact was not as pronounced as in the first lockdown. The early months of 2021 saw a return to growth and in March 2021 the revenues were higher than pre-pandemic levels.
Patient appointments reduced by 8% to 125,527 (2020: 137,007) and turnover decreased by 16% to £10,036,000 (2020: £11,958,000). Gross margin remained stable at 43.4% (2020: 43.2%) reflecting rapid responses to the changing environment during the year. Overheads decreased by 2.2% to £4,815,000 (2020: £4,927,000) and the company received support from the Coronavirus Job Retention Scheme of £511,000 during the year.
Despite the difficult trading conditions, EBITDA was a profit of £320,000 or 3.2% of sales (2020: £497,000 or 4.2% of sales) reflecting costs of investment in new IT systems and capabilities that will not bear fruit until the next financial year. After depreciation and interest costs, the pre-tax profit was £36,000 (2020: £217,000). The taxation charge for the year was £7,000 (2020: £50,000).
No dividends were paid (2020: £nil) and the retained profit for the year of £29,000 (2020: £167,000) was transferred to reserves.
HealthHarmonie Limited
Directors' Report for the Year Ended 31 March 2021
Cash flow and net cash
The company continued to invest in capital expenditure to service new contracts secured, spending £538,000 in the year (2020: £132,000). Hire purchase finance was used to fund some capex.
Working capital was well managed: as a result, cash balances increased to £1,379,000 (2020: £1,183,000).
A £50,000 Business Bounceback Loan was drawn in the year which is repayable over 5 years.
Long term loans from shareholders remained at £97,000. These loans continue to be non-interest bearing and not repayable except on a sale of the Company or the Company achieving a defined level of retained profits. The Directors therefore regard them as long-term funding to all intents equivalent to equity capital.
Outlook for the current year
Revenues have now returned to pre-pandemic levels, although we are still experiencing operational inefficiencies with higher rates of patients not attending clinics and COVID protocols. Demand for the company’s core services is unchanged by the virus and a backlog of patients has built up who require treatment. In addition, the NHS is increasingly looking for private sector support to reduce the inflated waiting lists created by the pandemic and the company has secured several new contracts since the year end and has a very strong pipeline of other opportunities.
The directors believe that, with normalized demand, new contracts and improving operational efficiency from the roll out of new IT systems, the current year will see a significant growth in revenues, underlying EBITDA and cash generation.
Disclosure of information to the auditors
Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
Hazlewoods LLP have expressed their willingness to continue in office.
Small companies provision statement
This report has 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.
Approved by the
Director
HealthHarmonie Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
HealthHarmonie Limited
Independent Auditor's Report to the Members of HealthHarmonie Limited
Opinion
We have audited the financial statements of HealthHarmonie Limited (the 'company') for the year ended 31 March 2021, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2021 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
HealthHarmonie Limited
Independent Auditor's Report to the Members of HealthHarmonie Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Directors' Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
• | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
HealthHarmonie Limited
Independent Auditor's Report to the Members of HealthHarmonie Limited
Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the
financial statements may not be detected, even though the audit is properly planned and performed in
accordance with the ISA's (UK).
In identifying and assessing risks of material mis-statement in respect of fraud, including irregularities and
non-compliance with laws and regulations, our procedures included the following:
• We obtained an understanding of the legal and regulatory frameworks applicable to the company financial
statements or that had a fundamental effect on the company's operations. We determined that the most
significant laws and regulations included UK GAAP, UK Companies Act 2006 and taxation laws.
• We understood how the company is complying with those legal and regulatory frameworks by making inquiries
of management and those responsible for legal and compliance procedures.
• We assessed the susceptibility of the company's financial statements to material misstatement, including how
fraud might occur.
Audit procedures performedby the engagement team included:
• Identifying and assessing the design effectiveness of controls management has in place to prevent and detect
fraud;
• Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process. Detailed analysis of journals posted
through the accounting system during the year to 31 March 2021 has been undertaken;
• Detailed analysis of all material bank transactions during the year to 31 March 2021 and obtaining
corroborating evidence for any irregular or unusual transactions idenitifed outside of the ordinary course of
business
• Understanding the controls in place to prevent and detect fraud. Reliance was not placed on controls for the
entirety of the audit, instead taking a substantive testing approach, however controls were in place to prevent
fraud, and they appeared to be working effectively;
• Challenging assumptions and judgements made by management in its significant accounting estimates.
A further description of our responsibilities is available on the Financial Reporting Council’s website at:
www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Windsor House
Bayshill Road
GL50 3AT
HealthHarmonie Limited
Profit and Loss Account for the Year Ended 31 March 2021
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Note |
2021 |
2020 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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- |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar charges |
( |
( |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no other comprehensive income for the year.
HealthHarmonie Limited
(Registration number: 04724733)
Balance Sheet as at 31 March 2021
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Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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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 |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Deferred tax liabilities |
(120,689) |
(62,389) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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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.
Approved and authorised by the
Director
Director
HealthHarmonie Limited
Statement of Changes in Equity for the Year Ended 31 March 2021
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2020 |
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Profit for the year |
- |
- |
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At 31 March 2021 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2019 |
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Profit for the year |
- |
- |
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At 31 March 2020 |
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HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Group accounts not prepared
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognized in the financial statements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 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 current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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, over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Medical, office and IT equipment |
25% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.
HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was as follows:
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2021 |
2020 |
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Average number of employees |
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2021 |
2020 |
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Coronavirus Job Retention Scheme grant income receivable |
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- |
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Operating profit |
Arrived at after charging:
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2021 |
2020 |
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Depreciation expense |
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Taxation |
Tax charged/(credited) in the profit and loss account
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2021 |
2020 |
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Current taxation |
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UK corporation tax |
( |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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( |
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Tax expense in the profit and loss account |
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Deferred tax |
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2021 |
2020
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Difference between accumulated depreciation and capital allowances |
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HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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Tangible assets |
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Leasehold improvements |
Medical, office and IT equipment |
Total |
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Cost |
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At 1 April 2020 |
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Additions |
- |
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Disposals |
- |
( |
( |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
( |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Investments |
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2021 |
2020 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost and carrying amount |
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At 1 April 2020 and at 31 March 2021 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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Ordinary |
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England and Wales |
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The principal activity of Healthharmonie Projects Limited is that of a dormant company.
HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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Debtors |
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2021 |
2020 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Creditors |
|
Note |
2021 |
2020 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Other creditors |
- |
|
|
|
Accrued expenses |
|
|
|
|
Corporation tax liability |
- |
58,366 |
|
|
Deferred income |
- |
|
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
|
Shareholder's loans |
97,119 |
97,119 |
|
|
364,083 |
227,732 |
|
Loans and borrowings |
|
2021 |
2020 |
|
|
Current loans and borrowings |
||
|
Bank loan |
|
- |
|
HP and finance lease liabilities |
|
|
|
Other borrowings |
|
|
|
|
|
|
|
2021 |
2020 |
|
|
Non-current loans and borrowings |
||
|
Bank Loan |
|
- |
|
HP and finance lease liabilities |
|
|
|
Other borrowings |
- |
|
|
|
|
|
HealthHarmonie Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2021 |
2020 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
|
Financial commitments, guarantees and contingencies |
The company had capital commitments at the 31 March 2021 of £53,658 in relation to the purchase of medical equiment.
|
Related party transactions |
Loans from related parties
|
Shareholders |
|
|
At start and end of period |
|
The loans are interest free and there are no set repayments terms.
|
Parent and ultimate parent undertaking |
The company is controlled by no individual or connected party. No one individual or connected party owns more than 50% of the share capital.