GNA Healthcare Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC490818 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

GNA Healthcare Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Ali

Mr A Ramzan

Dr A Ali

Mr R Lal

Mr U Rehman

REGISTERED OFFICE:

364A Dumbarton Road

Glasgow

G11 6RZ

REGISTERED NUMBER:

SC490818 (Scotland)

ACCOUNTANTS:

Burgoyne Carey

Chartered Accountants

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

FIXED ASSETS

Intangible assets

4

87,350

131,025

Tangible assets

5

311,110

311,508

398,460

442,533

CURRENT ASSETS

Stocks

6

45,000

40,000

Debtors

7

970,918

933,291

Cash at bank and in hand

120,736

102,253

1,136,654

1,075,544

CREDITORS

Amounts falling due within one year

8

(205,862

)

(302,529

)

NET CURRENT ASSETS

930,792

773,015

TOTAL ASSETS LESS CURRENT LIABILITIES

1,329,252

1,215,548

CREDITORS

Amounts falling due after more than one year

9

(162,126

)

(166,707

)

NET ASSETS

1,167,126

1,048,841

CAPITAL AND RESERVES

Called up share capital

24

24

Retained earnings

1,167,102

1,048,817

SHAREHOLDERS' FUNDS

1,167,126

1,048,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2023 and were signed on its behalf by:

Mr A Ramzan - Director

Mr G Ali - Director

1.	STATUTORY INFORMATION

GNA Healthcare Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2021

and 30 November 2022

436,750

AMORTISATION

At 1 December 2021

305,725

Amortisation for year

43,675

At 30 November 2022

349,400

NET BOOK VALUE

At 30 November 2022

87,350

At 30 November 2021

131,025

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2021

and 30 November 2022

311,110

21,261

3,439

335,810

DEPRECIATION

At 1 December 2021

-

20,863

3,439

24,302

Charge for year

-

398

-

398

At 30 November 2022

-

21,261

3,439

24,700

NET BOOK VALUE

At 30 November 2022

311,110

-

-

311,110

At 30 November 2021

311,110

398

-

311,508

6.

STOCKS

2022

2021

£

£

Stocks

45,000

40,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

92,212

71,683

Amounts owed by group undertakings

470,000

-

Amounts owed by associates

398,000

675,550

Other debtors

-

148,000

VAT

10,706

38,058

970,918

933,291

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

8,000

18,568

Trade creditors

109,371

108,999

Amounts owed to group undertakings

-

130,000

Tax

38,084

40,857

Social security and other taxes

3,737

880

Pension

-

225

Other creditors

26,000

-

Accrued expenses

20,670

3,000

205,862

302,529

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

8,800

19,273

Bank loans - 2-5 years

29,200

62,026

Bank loans more than

five years

124,126

85,408

162,126

166,707

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than

five years

124,126

85,408

124,126

85,408

10.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

170,126

185,275

Unity Trust plc has a charge over the premises at 7-9 Kilmarnock Road and has a Floating Charge over the whole assets of the company.

11.	RELATED PARTY DISCLOSURES

The company has advanced £470,000 to Primepharma Ltd which is the controlling party.

The company has advanced £398,000 to companies which are under the control of the directors.

The controlling party is Primepharma Ltd.