Healthchem (Battersea) Limited - Accounts to registrar (filleted) - small 18.2
Healthchem (Battersea) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2021 |
| for |
| Healthchem (Battersea) Limited |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Healthchem (Battersea) Limited |
| Company Information |
| for the Year Ended 28 February 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 173 Cleveland Street |
| London |
| W1T 6QR |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Balance Sheet |
| 28 February 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| Investment properties | 7 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Merger reserve |
| Retained earnings |
| The director acknowledges his 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. |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Balance Sheet - continued |
| 28 February 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by 06/12/2021 the director and authorised for issue on |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2021 |
| 1. | STATUTORY INFORMATION |
| Healthchem (Battersea) Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
| The financial statements are prepared in sterling, which is the functional currency of the entity. |
| Turnover |
| The turnover shown in the profit and loss account represents prescription services rendered and counter sales during the year, exclusive of Value Added Tax. |
| Tangible fixed assets |
| Long leasehold | - |
| Fixtures and fittings | - |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. |
| Land included in long leasehold property is not depreciated. |
| Investments in subsidiaries and associates |
| Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. |
| Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. |
| Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| Investment properties |
| Investment properties are recognised initially at cost. Investment Properties are annually revalued to fair value. Any gains or losses arising from changes in the fair value are recognised in profit and loss in the year that they arise and no depreciation is provided in respect of investment properties. |
| Investments |
| Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
| Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. |
| Impairment of fixed assets |
| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
| For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2021 |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | and |
| leasehold | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2020 |
| Additions |
| At 28 February 2021 |
| DEPRECIATION |
| At 1 March 2020 |
| Charge for year |
| At 28 February 2021 |
| NET BOOK VALUE |
| At 28 February 2021 |
| At 29 February 2020 |
| The long leasehold property is stated at cost in these financial statements. |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | in |
| undertakings | associate | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2020 | 324,947 |
| Additions | 57,088 |
| At 28 February 2021 | 382,035 |
| NET BOOK VALUE |
| At 28 February 2021 | 382,035 |
| At 29 February 2020 | 324,947 |
| The company holds 100% of the issued share capital of Healthchem Property Ltd, an investment holding company and incorporated in England and Wales. The company also holds 50% of the issued share capital of Ultra Health Ltd, a company operating a retail pharmacy and incorporated in England and Wales. |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2021 |
| 7. | INVESTMENT PROPERTIES |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2020 |
| and 28 February 2021 |
| NET BOOK VALUE |
| At 28 February 2021 |
| At 29 February 2020 |
| The investment properties have been stated at Director's Valuation as at the balance sheet date. |
| The historical cost of the investment properties as at 29 February 21 was £993,813 (2020: £993,813). |
| 8. | DEBTORS |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by related parties | 178,329 | 172,329 |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Amounts owed by related undertakings | 258,080 | 324,349 |
| Aggregate amounts |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Healthchem (Battersea) Limited (Registered number: 04332068) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2021 |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| The bank loans are secured by a first legal charge over the long leasehold properties, investment properties and a debenture over the company's assets. |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 28 February 2021 and 29 February 2020: |
| 2021 | 2020 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| 12. | RELATED PARTY DISCLOSURES |
| The company was under the control of the director throughout the current and previous year. |
| The company has given an interest free loan of £436,409 (2020: £496,678) to a company under common control. |
| The director confirms that there were no other material related party transactions other than those disclosed in these financial statements. |