Matrix Primary Healthcare Ltd - Accounts to registrar (filleted) - small 18.2
Matrix Primary Healthcare Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
| FOR |
| MATRIX PRIMARY HEALTHCARE LTD |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MATRIX PRIMARY HEALTHCARE LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Cedargrove |
| Hagley |
| Stourbridge |
| West Midlands |
| DY9 0DR |
| BANKERS: |
| 293 High Street |
| West Bromwich |
| West Midlands |
| B70 8NA |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| BALANCE SHEET |
| 31 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 14 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 15 |
| Retained earnings | 16 |
| SHAREHOLDERS' FUNDS |
| 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. |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| BALANCE SHEET - continued |
| 31 MARCH 2018 |
| 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 on its behalf by: |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Matrix Primary Healthcare Ltd is a |
| 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 |
| Changes in accounting policies |
| During the year the directors re-assessed the useful economic life of goodwill in light of recent funding |
| reductions by the NHS.Taking these reductions into account and the impact on profits the directors feel |
| the remaining economic life of goodwill should be re-assessed to five years with effect from 1 April |
| 2017. As a result the remaining carrying value of goodwill at the start of the financial year is amortised |
| over five years. |
| 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 |
| Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 |
| 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 |
| Freehold property | - |
| Improvements to property | - |
| Fixtures, fittings & equipment | - |
| Motor vehicles | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at 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. |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| AMORTISATION |
| At 1 April 2017 |
| Amortisation for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures, |
| Freehold | to | fittings | Motor |
| property | property | & equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Registered office: England |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 7. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 1,371 | 107 |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans (see note 11) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 2,002,957 | 1,547,957 |
| 11. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 11. | LOANS - continued |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 2,002,957 | 1,547,957 |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| In more than five years |
| 13. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| 14. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 23,824 | 39,662 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2017 |
| Credited during the year | (15,838 | ) |
| Balance at 31 March 2018 |
| 15. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| MATRIX PRIMARY HEALTHCARE LTD (REGISTERED NUMBER: 06144506) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 16. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2017 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 March 2018 |
| 17. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At 31 March 2018, there was a loan from Mr P Hargun of £1,309 (2017: £Nil). This unsecured loan is |
| interest free and repayable on demand. |
| At 31 March 2018, there was a loan from Mr A Singh of £62 (2017: £107). This unsecured loan is |
| interest free and repayable on demand. |
| 18. | RELATED PARTY DISCLOSURES |
| At 31 March 2018, there was a loan to Roma Pharmacy Limited of £537 (2017: £Nil), a company in |
| which Mr P Hargun and Mr A Singh are directors. Roma Pharmacy Limited is a wholly owned |
| subsidiary of Matrix Primary Healthcare Limited. This unsecured loan is interest free and repayable on |
| demand. |