Healthcare Holdco Ltd - Limited company accounts 23.2

REGISTERED NUMBER: 08612662 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Healthcare Holdco Ltd

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Dr J S Dhariwal

REGISTERED OFFICE:

Walnut Tree House

Court Lane

Burnham

Slough

Buckinghamshire

SL1 8DN

REGISTERED NUMBER:

08612662 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company to a trading group.

DIRECTOR

Dr J S Dhariwal held office during the whole of the period from 1 April 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Dr J S Dhariwal - Director

19 December 2023

TURNOVER

50,000

83,000

Administrative expenses

773,766

565,112

(723,766

)

(482,112

)

Other operating income

22,985

27,437

OPERATING LOSS

(700,781

)

(454,675

)

Income from shares in group undertakings

80,000

107,200

(620,781

)

(347,475

)

Interest payable and similar expenses

(16,834

)

4

LOSS BEFORE TAXATION

(603,947

)

(347,479

)

Tax on loss

192

-

LOSS FOR THE FINANCIAL YEAR

(604,139

)

(347,479

)

FIXED ASSETS

Tangible assets

4

1,719

3,143

Investments

5

205,054

205,054

206,773

208,197

CURRENT ASSETS

Debtors

6

3,328,004

3,326,327

Cash at bank

65,184

389,205

3,393,188

3,715,532

CREDITORS

Amounts falling due within one year

7

4,703,622

4,423,443

NET CURRENT LIABILITIES

(1,310,434

)

(707,911

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,103,661

)

(499,714

)

PROVISIONS FOR LIABILITIES

9

192

-

NET LIABILITIES

(1,103,853

)

(499,714

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(1,103,953

)

(499,814

)

SHAREHOLDERS' FUNDS

(1,103,853

)

(499,714

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 19 December 2023 and were signed by:

Dr J S Dhariwal - Director

1.	STATUTORY INFORMATION

Healthcare Holdco Ltd 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.

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.

As at the year end, the balance sheet showed net liabilities. The company continues to trade with the support of Dr J S Dhariwal, the director, and that of the group.

Turnover

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

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 reducing balance

Computer equipment

-

Straight line over 3 years

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.

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.

Fixed asset investments

Fixed asset investments are stated at cost less provision for any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

940

6,283

7,223

DEPRECIATION

At 1 April 2022

47

4,033

4,080

Charge for year

179

1,245

1,424

At 31 March 2023

226

5,278

5,504

NET BOOK VALUE

At 31 March 2023

714

1,005

1,719

At 31 March 2022

893

2,250

3,143

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

and 31 March 2023

205,054

NET BOOK VALUE

At 31 March 2023

205,054

At 31 March 2022

205,054

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Amounts owed by group undertakings

2,590,041

2,622,855

Amounts owed by connected groups

19,379

-

Amounts owed by other related parties

718,584

701,472

Other debtors

-

2,000

3,328,004

3,326,327

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

30,663

33,782

Amounts owed to group undertakings

4,024,669

3,846,421

Amounts owed to connected groups

489,606

489,948

Amounts owed to other related parties

905

-

Social security and other taxes

9,125

7,129

Other creditors

25,937

21,901

Directors' current accounts

97,330

-

Accruals and deferred income

25,387

24,262

4,703,622

4,423,443

8.	LEASING AGREEMENTS

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

31.3.23

31.3.22

£

£

Within one year

12,000

12,000

Between one and five years

36,000

48,000

48,000

60,000

9.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

Accelerated capital allowances

192

-

Deferred

tax

£

Unused amounts reversed during year

192

Balance at 31 March 2023

192

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

51

Ordinary

£1

51

51

49

Ordinary B

£1

49

49

100

100

11.	PENSION COMMITMENTS

During the year, the company made contributions to the scheme of £5,498 (2022 - £6,303).

At the year-end, the unpaid pension was £1,114 (2022 - £1,260).

12.	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.

In accordance with FRS 102, s1AC.35, the following are the categories and transactions conducted with, and balances owing to/from, related parties, where those transactions are both material and not conducted under normal market conditions.

Balances reported here are limited to those with related parties that hold a participating interest in the company, related parties in which the company holds a participating interest, and transactions with directors.

Companies in which there is a beneficial interest

Loans owing from related party £399,707 (2022 - £319,707)

Unless otherwise noted, any outstanding balances outstanding are interest free, unsecured and repayable on demand.

Any necessary information to further explain a transaction is detailed here.