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 2021

for

Pradhan Healthcare Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

181,875

202,083

Tangible assets

5

49,365

7,489

231,240

209,572

CURRENT ASSETS

Debtors

6

38,816

96,327

Cash at bank

737,959

741,411

776,775

837,738

CREDITORS

Amounts falling due within one year

7

40,750

53,676

NET CURRENT ASSETS

736,025

784,062

TOTAL ASSETS LESS CURRENT LIABILITIES

967,265

993,634

PROVISIONS FOR LIABILITIES

9,379

1,423

NET ASSETS

957,886

992,211

CAPITAL AND RESERVES

Called up share capital

8

102

102

Retained earnings

957,784

992,109

SHAREHOLDERS' FUNDS

957,886

992,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st October 2021 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.

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.

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings - 25% on cost

Motor Vehicles - 25% reducing balance

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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2020

and 31st March 2021

404,165

AMORTISATION

At 1st April 2020

202,082

Amortisation for year

20,208

At 31st March 2021

222,290

NET BOOK VALUE

At 31st March 2021

181,875

At 31st March 2020

202,083

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2020

19,441

-

19,441

Additions

1,178

50,440

51,618

At 31st March 2021

20,619

50,440

71,059

DEPRECIATION

At 1st April 2020

11,952

-

11,952

Charge for year

3,437

6,305

9,742

At 31st March 2021

15,389

6,305

21,694

NET BOOK VALUE

At 31st March 2021

5,230

44,135

49,365

At 31st March 2020

7,489

-

7,489

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

13,070

13,327

S455 recoverable

6,315

-

Directors' current accounts

19,431

83,000

38,816

96,327

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

3,000

9,723

Corporation tax payable

34,709

40,839

Accrued expenses

3,041

3,114

40,750

53,676

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

60

Ordinary A

1

60

60

40

Ordinary B

1

40

40

2

Ordinary C

1

2

2

102

102

Ordinary A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. Each share has a right to receive dividends.

Ordinary B Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. Each share has a right to receive dividends.

Ordinary C Shares have no voting or distribution rights. Each share has a right to dividends only at the discretion of the A and B shareholders.

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

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2021 and 31st March 2020:

31.3.21

31.3.20

£

£

Dr N Pradhan and Mrs G Pradhan

Balance outstanding at start of year

83,000

(416

)

Amounts advanced

387,539

239,929

Amounts repaid

(451,108

)

(156,513

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,431

83,000

The loan is repayable on demand and no interest was charged during the year.

10.

CONTROL

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