Niagara Therapy (U.K.) Limited - Accounts to registrar (filleted) - small 23.2.5

Niagara Therapy (U.K.) Limited - Accounts to registrar (filleted) - small 23.2.5

NIAGARA THERAPY(U.K.)LIMITED - Company Information

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REGISTERED NUMBER: 00857402 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Niagara Therapy (U.K.) Limited
Niagara Therapy (U.K.) Limited (Registered number: 00857402)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Niagara Therapy (U.K.) Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: P J Ellin
Mrs L Parry





SECRETARY: D R Jones





REGISTERED OFFICE: Unit 1 Colomendy Industrial Estate
Rhyl Road
Denbigh
Denbighshire
Clwyd
LL16 5TS





REGISTERED NUMBER: 00857402 (England and Wales)





AUDITORS: JWR Audit Limited
Statutory Auditor
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ
Page 1
Niagara Therapy (U.K.) Limited (Registered number: 00857402)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 2 2
2 2

CURRENT ASSETS
Debtors 6 32,283 8,526
Cash at bank and in hand 2,870 1,186
35,153 9,712
CREDITORS
Amounts falling due within one year 7 3,118,339 2,930,583
NET CURRENT LIABILITIES (3,083,186 ) (2,920,871 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(3,083,184
)
(2,920,869
)

CAPITAL AND RESERVES
Called up share capital 62,100 62,100
Retained earnings (3,145,284 ) (2,982,969 )
SHAREHOLDERS' FUNDS (3,083,184 ) (2,920,869 )

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 25 September 2023 and were signed on its behalf by:





P J Ellin - Director


The notes form part of these financial statements

Page 2
Niagara Therapy (U.K.) Limited (Registered number: 00857402)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Niagara Therapy (U.K.) 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. 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.

Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

Preparation of consolidated financial statements
The financial statements contain information about Niagara Therapy (U.K.) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, NHC Holdings Limited, .

Turnover
Turnover represents the value of goods sold to customers during the year net of discounts and value added tax. Turnover is recognised upon delivery of goods.

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 - at varying rates on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Page 3 continued...
Niagara Therapy (U.K.) Limited (Registered number: 00857402)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
The company's business activities, together with the factors likely to affect its future development and position, are set out in the Business Review section of the Directors' report in the consolidated financial statements.

The company had net liabilities at the end of the year however it is expected to continue to generate positive cash flows on its own accounts for the foreseeable future. The company participates in the group's centralised treasury arrangements and so shares banking arrangements with its parent and fellow subsidiaries.

The directors, having assessed the responses of the directors of the company's parent NHC Holdings Limited to their enquiries have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the NHC Holdings Limited group to continue as a going concern or its ability to continue with the current banking arrangements.

On the basis of their assessment of the company's financial position and of the enquiries made of the directors of NHC Holdings Limited, the company directors have a reasonable expectation that the company will be able to continue in the operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been used.

The ultimate parent company NHC Holdings Limited has confirmed its intention to support the company in meeting its liabilities as they fall due, and consequently the financial statements have been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 8 ).

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 71,146 1,654 72,800
DEPRECIATION
At 1 January 2022
and 31 December 2022 71,146 1,654 72,800
NET BOOK VALUE
At 31 December 2022 - - -
At 31 December 2021 - - -

Page 4 continued...
Niagara Therapy (U.K.) Limited (Registered number: 00857402)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. FIXED ASSET INVESTMENTS

The company owns 100% of the allotted share capital of Niagara Therapy (UK) Pension Trustees Limited, which is incorporated in England.

The subsidiary's principal activity is that of trustee to NHC Holdings Limited's pension schemes.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 18,289 449
Other debtors 13,994 8,077
32,283 8,526

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 74,943 60,553
Amounts owed to group undertakings 3,021,402 2,851,882
Taxation and social security 1,861 884
Other creditors 20,133 17,264
3,118,339 2,930,583

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

The Report of the Auditors was unqualified.

K S Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited

9. CONTINGENT LIABILITIES

The company has given composite cross guarantees relating to the bank borrowing of certain subsidiary companies. These borrowings amounted to £nil at the year end.

10. RELATED PARTY DISCLOSURES

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 subsidiaries within the group.

NHC Holdings Limited, whose registered office is the same as Niagara Therapy (U.K.) Limited, is the ultimate parent company and draws up consolidated group financial statements of which Niagara Therapy (U.K.) Limited is a member.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors.

Page 5