Haverstock Healthcare Limited 31/03/2019 iXBRL

Haverstock Healthcare Limited 31/03/2019 iXBRL

CAMDEN HEALTH PARTNERS LIMITED - Company Information

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Company registration number: 06584530
Haverstock Healthcare Limited
Unaudited filleted financial statements
31 March 2019
Haverstock Healthcare Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Haverstock Healthcare Limited
Directors and other information
Directors
Directors Ms E M Sturdy (Resigned 3 May 2018)
Dr J M Sandford (Resigned 3 May 2018)
Lady L Morris (Resigned 15 November 2018)
Dr C Chalmers-Waton
Dr L M Grun (Resigned 2 November 2018)
Dr A J Moghissi (Resigned 12 December 2018)
Dr V Rawal (Resigned 31 March 2019)
Mr D L Williams
Dr T Aslan (Appointed on 1 December 2018)
D Blundell (Appointed on 2 November 2018)
Dr V Dave (Appointed on 11 January 2019)
Dr C Sayer (Chair) (Appointed on 2 November 2018)
R M Tazzini (Appointed on 1 December 2018)
Company number 06584530
Registered office The Lodge
25 Mandela Street
London
NW1 0DU
Accountants Ramsay Brown LLP
Ramsay House
18 Vera Avenue
Grange Park
London
N21 1RA
Client Ref H322
Haverstock Healthcare Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Haverstock Healthcare Limited
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Haverstock Healthcare Limited for the year ended 31 March 2019 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Haverstock 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 financial statements of Haverstock Healthcare Limited and state those matters that we have agreed to state to the board of directors of Haverstock Healthcare Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Haverstock Healthcare Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Haverstock Healthcare Limited 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 loss of Haverstock Healthcare Limited. You consider that Haverstock 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 financial statements of Haverstock 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 financial statements.
..................................................
Ramsay Brown LLP
Ramsay House
18 Vera Avenue
Grange Park
London
N21 1RA
Haverstock Healthcare Limited
Statement of financial position
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 4 5,822 12,254
_______ _______
5,822 12,254
Current assets
Debtors 5 1,615,838 2,218,773
Cash at bank and in hand 828,580 245,801
_______ _______
2,444,418 2,464,574
Creditors: amounts falling due
within one year 6 ( 2,358,609) ( 2,206,691)
_______ _______
Net current assets 85,809 257,883
_______ _______
Total assets less current liabilities 91,631 270,137
Creditors: amounts falling due
after more than one year 7 - ( 11,793)
_______ _______
Net assets 91,631 258,344
_______ _______
Capital and reserves
Called up share capital 8 103,067 177,242
Capital redemption reserve 54,890 -
Capital reserve 19,286 -
Profit and loss account ( 85,612) 81,102
_______ _______
Shareholders funds 91,631 258,344
_______ _______
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2019 , and are signed on behalf of the board by:
.................................................
Dr C Sayer (Chair)
Director
Company registration number: 06584530
Haverstock Healthcare Limited
Statement of changes in equity
Year ended 31 March 2019
Called up share capital Capital redemption reserve Capital reserve Profit and loss account Total
£ £ £ £ £
At 1 April 2017 177,242 - - ( 83,408) 93,834
(Loss)/profit for the year 164,510 164,510
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - 164,510 164,510
_______ _______ _______ _______ _______
At 31 March 2018 and 1 April 2018 177,242 - - 81,102 258,344
(Loss)/profit for the year ( 111,824) ( 111,824)
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - ( 111,824) ( 111,824)
Cancellation of subscribed capital ( 74,175) 54,890 ( 54,890) ( 74,175)
capital Reserve - - 19,286 - 19,286
_______ _______ _______ _______ _______
Total investments by and distributions to owners ( 74,175) 54,890 19,286 ( 54,890) ( 54,889)
_______ _______ _______ _______ _______
At 31 March 2019 103,067 54,890 19,286 ( 85,612) 91,631
_______ _______ _______ _______ _______
Haverstock Healthcare Limited
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Lodge, 25 Mandela Street, London, NW1 0DU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Plant and machinery Office Equipment Furniture & Fittings Equipments Total
£ £ £ £
Cost
At 1 April 2018 and 31 March 2019 20,466 3,969 7,723 32,158
_______ _______ _______ _______
Depreciation
At 1 April 2018 12,997 2,520 4,387 19,904
Charge for the year 4,325 794 1,313 6,432
_______ _______ _______ _______
At 31 March 2019 17,322 3,314 5,700 26,336
_______ _______ _______ _______
Carrying amount
At 31 March 2019 3,144 655 2,023 5,822
_______ _______ _______ _______
At 31 March 2018 7,469 1,449 3,336 12,254
_______ _______ _______ _______
5. Debtors
2019 2018
£ £
Trade debtors 1,311,993 1,983,589
Other debtors 303,845 235,184
_______ _______
1,615,838 2,218,773
_______ _______
6. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 9,987 11,000
Trade creditors 1,447,688 1,319,505
Corporation tax ( 16) 30,209
Social security and other taxes 40,157 42,251
Other creditors 860,793 803,726
_______ _______
2,358,609 2,206,691
_______ _______
7. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts - 11,793
_______ _______
8. Called up share capital
Company has issued 103065 redeemable shares on December 2018 which was re-designated in October 2019.
Company has bought back its own ordinary 74,175 shares during the year.
9. Events after the end of the reporting period
December 2018 the company issued redeemable shares, which were cancelled and re-designated in September 2019.