Enhance Healthcare Adam House Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC487965 (Scotland)

Unaudited Financial Statements

for the Year Ended

31 December 2022

for

ENHANCE HEALTHCARE ADAM HOUSE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

P G Mcniven

M Singh

REGISTERED OFFICE:

Barncluith Business Centre

Townhead Street

Hamilton

ML3 7DP

REGISTERED NUMBER:

SC487965 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

BANKERS:

The Royal Bank of Scotland

339 Byres Road

Glasgow

G12 8QP

FIXED ASSETS

Intangible assets

4

6,983

7,569

Tangible assets

5

50,536

67,992

57,519

75,561

CURRENT ASSETS

Debtors

6

1,944,265

2,017,625

Cash at bank and in hand

2,130,739

1,115,727

4,075,004

3,133,352

CREDITORS

Amounts falling due within one year

7

(1,218,439

)

(1,129,687

)

NET CURRENT ASSETS

2,856,565

2,003,665

TOTAL ASSETS LESS CURRENT LIABILITIES

2,914,084

2,079,226

PROVISIONS FOR LIABILITIES

(7,064

)

(8,415

)

NET ASSETS

2,907,020

2,070,811

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,907,018

2,070,809

SHAREHOLDERS' FUNDS

2,907,020

2,070,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 25 September 2023 and were signed on its behalf by:

M Singh - Director

1.	STATUTORY INFORMATION

Enhance Healthcare Adam House 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

50% on cost and 25% on cost

Fixtures and fittings

-

20% on cost

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2021 - 54 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

11,720

AMORTISATION

At 1 January 2022

4,151

Charge for year

586

At 31 December 2022

4,737

NET BOOK VALUE

At 31 December 2022

6,983

At 31 December 2021

7,569

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2022

14,058

85,670

29,903

898

130,529

Additions

-

12,506

-

-

12,506

At 31 December 2022

14,058

98,176

29,903

898

143,035

DEPRECIATION

At 1 January 2022

10,415

31,574

20,423

125

62,537

Charge for year

3,061

20,621

5,981

299

29,962

At 31 December 2022

13,476

52,195

26,404

424

92,499

NET BOOK VALUE

At 31 December 2022

582

45,981

3,499

474

50,536

At 31 December 2021

3,643

54,096

9,480

773

67,992

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 January 2022

and 31 December 2022

29,903

DEPRECIATION

At 1 January 2022

20,423

Charge for year

5,981

At 31 December 2022

26,404

NET BOOK VALUE

At 31 December 2022

3,499

At 31 December 2021

9,480

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

69,548

33,657

Other debtors

377,132

638,140

Inter-company loans

1,246,994

1,091,994

Prepayments and accrued income

250,591

253,834

1,944,265

2,017,625

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Inter-company loans

811,779

808,614

Trade creditors

64,341

31,085

Tax

200,698

172,337

Social security and other taxes

21,993

23,044

Other creditors

47,556

34,038

Accrued expenses

72,072

60,569

1,218,439

1,129,687

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

440,000

440,000

Between one and five years

1,760,000

1,760,000

In more than five years

12,760,000

13,200,000

14,960,000

15,400,000

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Enhance Healthcare Adam House Ltd for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Enhance Healthcare Adam House Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Enhance Healthcare Adam House Ltd and state those matters that we have agreed to state to the Board of Directors of Enhance Healthcare Adam House Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Enhance Healthcare Adam House Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Enhance Healthcare Adam House Ltd. You consider that Enhance Healthcare Adam House Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Enhance Healthcare Adam House Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

25 September 2023