ACCOUNTS - Final Accounts

BOWBURN HEALTHCARE LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-30false0true2021-03-17false0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13273865 2021-03-16 13273865 2021-03-17 2022-06-30 13273865 2020-03-17 2021-03-16 13273865 2022-06-30 13273865 c:Director2 2021-03-17 2022-06-30 13273865 d:CurrentFinancialInstruments 2022-06-30 13273865 d:Non-currentFinancialInstruments 2022-06-30 13273865 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 13273865 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 13273865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 13273865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 13273865 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-06-30 13273865 d:ShareCapital 2022-06-30 13273865 d:RetainedEarningsAccumulatedLosses 2022-06-30 13273865 c:OrdinaryShareClass1 2021-03-17 2022-06-30 13273865 c:OrdinaryShareClass1 2022-06-30 13273865 c:OrdinaryShareClass2 2021-03-17 2022-06-30 13273865 c:OrdinaryShareClass2 2022-06-30 13273865 c:FRS102 2021-03-17 2022-06-30 13273865 c:AuditExempt-NoAccountantsReport 2021-03-17 2022-06-30 13273865 c:FullAccounts 2021-03-17 2022-06-30 13273865 c:PrivateLimitedCompanyLtd 2021-03-17 2022-06-30 13273865 6 2021-03-17 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13273865

BOWBURN HEALTHCARE LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2022

BOWBURN HEALTHCARE LTD

REGISTERED NUMBER: 13273865

BALANCE SHEET

AS AT 30 JUNE 2022

		2022
Note		£

Fixed assets
Investments	4		1,513,185
			1,513,185
Current assets
Debtors: amounts falling due within one year	5	12,175
Cash at bank and in hand	6	2,217
		14,392
Creditors: amounts falling due within one year	7	(1,257,066)
Net current (liabilities)/assets			(1,242,674)
Total assets less current liabilities			270,511
Creditors: amounts falling due after more than one year	8		(288,550)

Net (liabilities)/assets			(18,039)

Capital and reserves
Called up share capital	10	200
Profit and loss account		(18,239)
		(18,039)

Page 1

BOWBURN HEALTHCARE LTD

REGISTERED NUMBER: 13273865

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 March 2023.

Mr K A Simpson

Director

The notes on pages 3 to 8 form part of these financial statements.

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BOWBURN HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

1.	General information

Bowburn Healthcare Ltd is a private company limited by shares incorporated in England and Wales, registration number 13273865. The registered office is Lakeside House, Kingfisher Way, Stockton-On-Tees, TS18 3NB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Going concern

At the year end the company reported net liabilities of £18,039. However, liabilities include £904,785 owed to associated and group undertakings. The directors of the company have indicated their willingness to finance any shortages in the company's day to day finances and for such an arrangement continue for a period of not less than one year from the date the financial statements were approved.
The company meets its day to day working capital requirements through shareholder and external borrowings.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existance for a period of at least 12 months from the date of signing these financial statements. The company therefore has adopted the going concern basis in preparing its finacial statements.

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BOWBURN HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

BOWBURN HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

Employees

	The Company has no employees other than the directors, who did not receive any remuneration.
	The average monthly number of employees, including directors, during the period was 0.

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	1,513,185
	At 30 June 2022	1,513,185

Debtors

					2022
					£


	Other debtors	355
	Prepayments and accrued income	11,820
		12,175

6.	Cash and cash equivalents
		2022
		£

	Cash at bank and in hand	2,217
		2,217

Page 5

BOWBURN HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

7.	Creditors: Amounts falling due within one year
		2022
		£

	Bank loans	349,601
	Trade creditors	930
	Amounts owed to group undertakings	400,035
	Amounts owed to associates	504,750
	Accruals and deferred income	1,750
		1,257,066

	The following liabilities were secured:
					2022
					£


	Bank loans	349,601
		349,601

Details of security provided:

Bank loans are secured by a fixed and floating charge against the assets of the company.

8.	Creditors: Amounts falling due after more than one year
		2022
		£

	Bank loans	288,550
		288,550

	The following liabilities were secured:
					2022
					£


	Bank loans	288,550
		288,550

Details of security provided:

Bank loans are secured by a fixed and floating charge against the assets of the company.

Page 6

BOWBURN HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

9.	Loans
	Analysis of the maturity of loans is given below:
		2022
		£

	Amounts falling due within one year
	Bank loans	349,601
		349,601
	Amounts falling due 1-2 years
	Bank loans	31,937
		31,937
	Amounts falling due 2-5 years
	Bank loans	102,005
		102,005
	Amounts falling due after more than 5 years
	Bank loans	154,608
		154,608
		638,151

10.	Share capital
		2022
		£

		Allotted, called up and fully paid

		1,100 A Shares shares of £0.10 each	110
		900 B Shares shares of £0.10 each	90

			200

On incorporation 1,100 A shares or £0.10 each together with 900 B shares of £0.10 each were issued and allotted.

Page 7

BOWBURN HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

11.

Related party transactions

During the period, the company accrued management charges totalling £11,821 to a subsidiary undertaking.
Included within amounts owed to group undertakings is an amount of £400,035 due to The Bowburn Pharmacy Company Limited.
Included within amounts owed to associates is an amount of £504,750 due to Knightingales Limited. Mr D G Jarvis, Mr K A Simpson and Mrs A J Simpson are directors and shareholders of Knightingales Limited.

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