Advance Health Care UK Limited - Period Ending 2021-01-31

Advance Health Care UK Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

Advance Health Care UK Limited

Company Information

Directors

J Thorburn-Muirhead N Goodban L G Krige

Registered office

Cardinal House Abbeyfield Court Abbeyfield Road Nottingham NG7 2SZ

Auditors

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Advance Health Care UK Limited

(Registration number: 06512954)
Balance Sheet as at 31 January 2021

	Note	2021  £	Unaudited 2020 £
Fixed assets
Tangible assets	4	5,933	3,753
Current assets
Stocks	5	14,500	-
Debtors	6	701,892	530,860
Cash at bank and in hand		393,435	32,354
		1,109,827	563,214
Creditors: Amounts falling due within one year	7	(453,829)	(181,501)
Net current assets		655,998	381,713
Total assets less current liabilities		661,931	385,466
Deferred tax liabilities		-	(1,369)
Net assets		661,931	384,097
Capital and reserves
Called up share capital	8	4	4
Capital redemption reserve		2	2
Profit and loss account		661,925	384,091
Total equity		661,931	384,097

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.

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 Board on 27 October 2021 and signed on its behalf by:
 

 

L G Krige
Director

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cardinal House
Abbeyfield Court
Abbeyfield Road
Nottingham
NG7 2SZ

2

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.

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 and after eliminating sales within the company. 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.

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 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:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Computer equipment	Straight line over 3 years

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 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2021

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2021

Financial instruments (continued)

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

	2021  No.	Unaudited 2020  No.
Average number of employees	351	307

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2021

4

Tangible assets

	Furniture, fittings and equipment  £
Cost
At 1 February 2020	25,533
Additions	3,949
At 31 January 2021	29,482
Depreciation
At 1 February 2020	21,780
Charge for the year	1,769
At 31 January 2021	23,549
Carrying amount
At 31 January 2021	5,933
At 31 January 2020	3,753

5

Stocks

	2021  £	Unaudited 2020  £
Raw materials and consumables	14,500	-

6

Debtors

	2021  £	Unaudited 2020  £
Trade debtors	317,205	507,591
Amounts owed by parent undertaking	21,410	-
Other debtors	353,423	750
Overdrawn directors loan account	-	19,404
Prepayments	5,197	3,115
Deferred tax assets	4,657	-
	701,892	530,860

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2021

7

Creditors

	2021  £	Unaudited 2020  £
Due within one year
Trade creditors	56	6,865
Social security and other taxes	102,219	48,999
Outstanding defined contribution pension costs	30,444	17,471
Other creditors	57,048	34,489
Accrued expenses	69,166	6,000
Corporation tax liability	145,138	67,677
Deferred income	49,758	-
	453,829	181,501

8

Share capital

Allotted, called up and fully paid shares

	2021		Unaudited 2020
	No.	£	No.	£
Ordinary shares of £0.01 each	400	4	400	4

9

Obligations under lease and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

	2021 £	Unaudited 2020 £
Not later than one year	809	2,426
Later than one year and not later than five years	-	809
	809	3,235

Operating leases

The total of future minimum lease payments is as follows:

	2021 £	Unaudited 2020 £
Not later than one year	15,000	15,000
Later than one year and not later than five years	1,250	16,250
	16,250	31,250

The amount of non-cancellable operating lease payments recognised as an expense during the year was £22,214 (2020 - £23,425).

Advance Health Care UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2021

10

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £140,568 (2020 - £45,266).

Contributions totalling £30,444 (2020 - £17,471) were payable to the scheme at the end of the year and are included in creditors.

11

Related party transactions

At the year end, the directors of the company had overdrawn loan accounts of £nil (2020 - £19,404).

At the year end, the company's parent undertaking owed £21,400 (2020 - £nil).

The members of key management are considered to be the directors of the company. Directors remuneration for the year is £18,900 (2020 - £23,750).

12

Parent and ultimate controlling undertaking

The company's immediate parent and ultimate controlling party is City and County Healthcare Group Limited, incorporated in England and Wales.

13

Disclosure under Section 444(5B) CA 2006 relating to the independent auditor's report

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. Accordingly, the Independent Auditors’ Report has also been omitted.

The Independent Auditor's Report was unqualified. The corresponding figures for the year ended 31 January 2020 shown in the financial statements are derived from the financial statements prepared for that period that were not audited. The name of the Senior Statutory Auditor who signed the audit report on 28 October 2021 was Simon Worsley, who signed for and on behalf of Hazlewoods LLP.