Excellence In Healthcare Limited - Period Ending 2017-07-31
Excellence In Healthcare Limited - Period Ending 2017-07-31
Registration number:
Excellence In Healthcare Limited
for the Year Ended 31 July 2017
Chartered Certified Accountants
Network House
Station Yard
Thame
Oxfordshire
OX9 3UH
Excellence In Healthcare Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Excellence In Healthcare Limited
Company Information
Directors |
Dr Andrew Michael Hopkins Mrs Jill Hopkins |
Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Excellence In Healthcare Limited
for the Year Ended 31 July 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Excellence In Healthcare Limited for the year ended 31 July 2017 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Excellence In Healthcare Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Excellence In Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of Excellence In Healthcare Limited, as a body, in this report in accordance with
the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excellence In Healthcare Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Excellence In Healthcare Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Excellence In Healthcare Limited. You consider that Excellence In Healthcare Limited 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 accounts of Excellence In Healthcare Limited. 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 accounts.
......................................
Chartered Certified Accountants
Station Yard
Thame
Oxfordshire
OX9 3UH
Page 2 |
Excellence In Healthcare Limited
(Registration number: 07304545)
Balance Sheet as at 31 July 2017
Note |
2017 |
2016 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
Excellence In Healthcare Limited
(Registration number: 07304545)
Balance Sheet as at 31 July 2017
Approved and authorised by the
.........................................
Dr Andrew Michael Hopkins
Director
Page 4 |
Excellence In Healthcare Limited
Statement of Changes in Equity for the Year Ended 31 July 2017
Share capital |
Profit and loss account |
Total |
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At 1 August 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 July 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 August 2015 |
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Profit for the year |
- |
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Other comprehensive income |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 July 2016 |
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Page 5 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
UK
The principal place of business is:
Chart Brow
Puddleduck Lane
Toys Hill
Westerham
Kent
TN16 1PY
England
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment, fixtures and fittings |
5 Years straight line method |
Computer equipment |
3 Years straight line method |
Motor vehicles |
25% reducing balance |
Page 6 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Goodwill, being the amount paid in connection with the acquisition of the businesses, is being amortised evenly over the estimated useful life of 10 years. In previous periods the goodwill had an estimated useful life of 20 years.
If the 20 year estimate of goodwill were still in place amortisation in the year would have been £32,752 and the net value of goodwill as at the year end would have been £492,122.
Asset class |
Amortisation method and rate |
Goodwill |
10 Years straight line method (Previously 20 years) |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 7 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 8 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 August 2016 |
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At 31 July 2017 |
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Amortisation |
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At 1 August 2016 |
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Amortisation charge |
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At 31 July 2017 |
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Carrying amount |
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At 31 July 2017 |
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At 31 July 2016 |
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Tangible assets |
Computer equipment |
Motor vehicles |
Equipment, fixtures and fittings |
Total |
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Cost or valuation |
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At 1 August 2016 |
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Additions |
- |
- |
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At 31 July 2017 |
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Depreciation |
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At 1 August 2016 |
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Charge for the year |
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At 31 July 2017 |
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Carrying amount |
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At 31 July 2017 |
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At 31 July 2016 |
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Taxation |
Tax charged/(credited) in the income statement
Page 9 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
2017 |
2016 |
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Current taxation |
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UK corporation tax |
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UK corporation tax adjustment to prior periods |
( |
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50,345 |
43,628 |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
( |
Tax expense in the income statement |
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Deferred tax
Deferred tax assets and liabilities
2017 |
Liability |
Difference between accumulated depreciation and amortisation and capital allowances |
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2016 |
Liability |
Difference between accumulated depreciation and amortisation and capital allowances |
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Debtors |
2017 |
2016 |
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Trade debtors |
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Prepayments |
4,078 |
4,077 |
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Other debtors |
12,390 |
17,672 |
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Director 1 current account (Overdrawn) |
51,386 |
49,559 |
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Creditors |
Page 10 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
Note |
2017 |
2016 |
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Due within one year |
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Bank loans and overdrafts |
- |
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Trade creditors |
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Taxation and social security |
- |
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Other creditors |
- |
17,553 |
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Credit card account |
313 |
592 |
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Corporation tax control |
50,347 |
55,762 |
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Loans and borrowings |
2017 |
2016 |
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Current loans and borrowings |
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Finance lease liabilities |
- |
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Dividends |
Final dividends paid
2017 |
2016 |
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Final dividend paid |
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Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
Transactions with directors |
Page 11 |
Excellence In Healthcare Limited
Notes to the Financial Statements for the Year Ended 31 July 2017
2017 |
At 1 August 2016 |
Advances to directors |
At 31 July 2017 |
Dr Andrew Michael Hopkins |
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Loan to Director, non interest bearing, unsecured and repayable on demand |
49,560 |
|
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49,560 |
1,827 |
51,387 |
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Directors' remuneration
The directors' remuneration for the year was as follows:
2017 |
2016 |
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Remuneration |
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Contributions paid to money purchase schemes |
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46,169 |
56,120 |
Dividends paid to directors |
2017 |
2016 |
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Dr Andrew Michael Hopkins |
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Dividends paid |
97,500 |
83,175 |
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Mrs Jill Hopkins |
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Dividends paid |
97,500 |
83,175 |
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Page 12 |