Healthcare@Oak Tree Limited - Period Ending 2019-03-31

Registration number: 09078136

Prepared for the registrar

Healthcare@Oak Tree Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2019

Healthcare@Oak Tree Limited

(Registration number: 09078136)
Balance Sheet as at 31 March 2019

	Note	2019  £	2018  £
Current assets
Debtors	4	29,090	560
Cash at bank and in hand		24,818	54,959
		53,908	55,519
Creditors: Amounts falling due within one year	5	(47,380)	(54,655)
Net assets		6,528	864
Capital and reserves
Called up share capital		26	29
Capital redemption reserve		5	2
Profit and loss account		6,497	833
Total equity		6,528	864

For the financial 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 accounts for the year in question in accordance with section 476; and
•	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.

Approved and authorised by the Board on 8 December 2019 and signed on its behalf by:
 

 

Dr J P Davies

Director

The notes on pages 2 to 4 form an integral part of these financial statements.
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Healthcare@Oak Tree Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oak Tree Surgery
Whitethorn Drive
Brackla
Bridgend
Mid Glamorgan
CF31 2PQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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Healthcare@Oak Tree Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

	2019  No.	2018  No.
Average number of employees	9	7

4

Debtors

	2019  £	2018  £
Trade debtors	29,090	560

5

Creditors

Creditors: amounts falling due within one year

	Note	2019  £	2018  £
Due within one year
Loans and borrowings	6	15,771	25,059
Accrued expenses		2,800	2,718
Corporation tax liability		24,809	26,878
Deferred income		4,000	-
		47,380	54,655

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Healthcare@Oak Tree Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

6

Loans and borrowings

	2019 £	2018 £
Current loans and borrowings
Oak Tree Surgery	15,771	25,059

7

Related party transactions

At the period end the company owed £15,771 (2018 - £25,059) to Oak Tree Surgery, a partnership of which the directors are all partners, for expenses paid for by the surgery on behalf of the company. The loan is interest free with no fixed repayment terms.

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