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

REGISTERED NUMBER: 03309508 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2020

FOR

BEAUMONT HEALTHCARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G R Ward

REGISTERED OFFICE:

15 Eaton Court

Colmworth Business Park

St Neots

Cambridgeshire

PE19 8ER

REGISTERED NUMBER:

03309508 (England and Wales)

AUDITORS:

Thompson Taraz Rand Audit and Assurance Limited

Chartered Accountants and Statutory Auditors

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

59,806

44,597

CURRENT ASSETS

Debtors

6

1,152,923

1,400,364

Cash at bank and in hand

295,741

28,319

1,448,664

1,428,683

CREDITORS

Amounts falling due within one year

7

(627,633

)

(764,848

)

NET CURRENT ASSETS

821,031

663,835

TOTAL ASSETS LESS CURRENT LIABILITIES

880,837

708,432

PROVISIONS FOR LIABILITIES

10

(10,355

)

(6,558

)

NET ASSETS

870,482

701,874

CAPITAL AND RESERVES

Called up share capital

11

500,100

500,100

Retained earnings

370,382

201,774

SHAREHOLDERS' FUNDS

870,482

701,874

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 August 2021 and were signed by:

G R Ward - Director

1.	STATUTORY INFORMATION

Beaumont 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

As the company provides front line community care services it continued to operate as usual during the lockdown. The company implemented the Government guidelines surrounding safe working practices and provided staff with additional Personal Protective Equipment to minimise risk to staff and therefore the provision of community care services to patients. Despite these challenges the company reported robust results.

The director and senior management team have reviewed forecasts to 30th September 2021 and further considered forecasts for a period of twelve months from the date of approval of these financial statements.

While there has been some additional costs pressures, these have been partly alleviated by the provision of government funding for local authorities and Clinical Commissioning Groups with the additional funding used to ensure local authorities can continue to meet the care needs placed upon them. The company was provided with additional funding of £124,000 to ensure patient needs could continue to be met.

The expectation of the director' remains one of continued revenue growth and profitability as the company is three years into to a ten year contract with Cambridgeshire Local Authority. Forecast demand for care services is expected to remain strong despite the reduction in covid 19 hospital admissions as the NHS look to manage capacity into the autumn months by moving care out into the community as early as is possible.

There are several active tenders for new work in the 2021 financial year that the company is optimistic of winning. Further more the development of the Critical Care service line within the Cambridgeshire area is forecast to grow for the current financial year.

These factors should see the business well placed to trade profitability for the next twelve months and beyond despite the current uncertainties therefore the going concern basis of preparation is considered to be appropriate.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned group companies.

Critical accounting judgements and key sources of estimation uncertainty

Useful economic lives of tangible fixed assets:

Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilisation and physical condition of the assets.

Doubtful debts:

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors, management considers factors including the ageing of the debtor and historical experience regarding payment history.

Turnover

Turnover represents the sale of healthcare services. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. The company is not registered for VAT.

Where a contract for a service spans the year end amounts are recognised based on a suitable stage of completion. Should amounts be paid in advance the sale is deferred to the period in which the service is performed and thus the company achieves the right to remuneration.

Depreciation

Depreciation is provided to write off the cost, less estimated residual values, of all tangible fixed assets evenly over their expected useful lives. It is calculated at the following rates:

Plant and Machinery

10-25% straight line

Motor Vehicles

25% straight line

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received using the performance model.

The grant will therefore be recognised in income when the grant proceeds are received or receivable provided the terms of the grant do not impose future performance related conditions.

If the terms of the grant do impose future performance related conditions, the grant is only recognised in income when the performance related conditions are met.

Any grants that are received before the recognition criteria is met are recognised in the entity's financial statements as a liability.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 taxation

Deferred tax is recognised in respect of material timing differences that have originated but not reversed at the balance sheet date.

Material 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.

Operating lease commitments

Annual rentals under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 131 (2019 - 132 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2019

368,127

Additions

39,576

At 30 September 2020

407,703

DEPRECIATION

At 1 October 2019

323,530

Charge for year

24,367

At 30 September 2020

347,897

NET BOOK VALUE

At 30 September 2020

59,806

At 30 September 2019

44,597

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

117,492

177,279

Amounts owed by group undertakings

896,578

935,373

Other debtors

138,853

287,712

1,152,923

1,400,364

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

38,531

36,349

Taxation and social security

190,922

181,518

Other creditors

398,180

546,981

627,633

764,848

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

77,140

89,041

Between one and five years

4,558

77,467

81,698

166,508

Operating lease commitments include the company's obligations in relation to the rental of its commercial property.

9.	SECURED DEBTS

The assets of the company are secured by way of a fixed charge held via a debenture dated 16th April 2008 over all present freehold and leasehold property, assets and liabilities of the company.

10.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

10,355

6,558

Deferred

tax

£

Balance at 1 October 2019

6,558

Provided during year

3,797

Balance at 30 September 2020

10,355

Deferred tax is recognised in respect of the excess of capital allowances over depreciation.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

500,100

Ordinary share

£1

500,100

500,100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Rand (Senior Statutory Auditor)

for and on behalf of Thompson Taraz Rand Audit and Assurance Limited

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019:

2020

2019

£

£

G R Ward

Balance outstanding at start of year

-

-

Amounts advanced

180,680

-

Amounts repaid

(180,680

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

14.	RELATED PARTY DISCLOSURES