Abbreviated Company Accounts - HEALTHMATIC LIMITED

HEALTHMATIC LIMITED - Company Information

02065014 HEALTHMATIC LIMITED 2016-04-30 false 2015-05-01 2016-04-30 true 02065014 2015-05-01 2016-04-30 02065014 2016-04-30 02065014 2015-04-30 02065014 uk-gaap-cd-bus:Director1 2015-05-01 2016-04-30 02065014 uk-gaap-cd-bus:Director2 2015-05-01 2016-04-30 uk-gaap-cd-bus:Director3 2015-05-01 2016-04-30 uk-gaap-cd-bus:Director3 2016-04-30 uk-gaap-cd-bus:Director3 2015-04-30 uk-gaap-cd-bus:Director4 2015-05-01 2016-04-30 uk-gaap-cd-bus:Director4 2016-04-30 uk-gaap-cd-bus:Director4 2015-04-30 iso4217:GBP shares

Registered Number 02065014

HEALTHMATIC LIMITED

Abbreviated Accounts

30 April 2016

HEALTHMATIC LIMITED Registered Number 02065014

Abbreviated Balance Sheet as at 30 April 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,465,813	1,581,465
		1,465,813	1,581,465
Current assets
Stocks		465,900	724,100
Debtors		1,089,841	1,131,381
Cash at bank and in hand		110,536	803
		1,666,277	1,856,284
Creditors: amounts falling due within one year		(2,052,288)	(2,222,731)
Net current assets (liabilities)		(386,011)	(366,447)
Total assets less current liabilities		1,079,802	1,215,018
Creditors: amounts falling due after more than one year		(301,993)	(401,502)
Provisions for liabilities		(92,420)	(126,768)
Total net assets (liabilities)		685,389	686,748
Capital and reserves
Called up share capital		53,919	53,919
Share premium account		96,205	96,205
Profit and loss account		535,265	536,624
Shareholders' funds		685,389	686,748

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 25 January 2017

And signed on their behalf by:
PF Dibben, Director

HEALTHMATIC LIMITED Registered Number 02065014

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The Financial Statements have been prepared according to the historical cost convention, prevailing Accounting Standards, the terms of the Companies Act 2006, and the "Financial Reporting Standard for Smaller Entities (effective January 2015)"

Turnover policy
Turnover is the amount receivable for goods and services provided during the year. It excludes Value Added Tax and trade discounts

Tangible assets depreciation policy
Fixed Assets are stated at cost less accumulated Depreciation. Depreciation is provided to write off the net cost of each asset evenly over the term of its useful life. The rates used are:

Equipment leased to Customers - over the term of the lease
Motor Vehicles - 25% a year of cost
Office Equipment - 15% a year of cost

Other accounting policies
Stocks and Work in Progress

Stocks and Work in Progress are valued at the lower of cost (including attributable overheads) or net realisable value. All Stocks are of Raw Materials and Consumables.

Hire Purchase and Leases

Assets acquired under Hire Purchase, Lease Purchase, and Finance Lease agreements are included in Fixed Assets at their cash equivalent purchase price and depreciated according to the Company's usual depreciation policies. The interest element in rental obligations is charged in the profit and loss account over the period of lease in proportion to the capital repayments outstanding. Payments under operating leases are charged against revenue as the expenditure is incurred.

Foreign Exchange

Trading transactions in foreign currencies are recorded at the exchange rate on the day of the transaction unless forward exchange cover exists when the contracted rate is used. All exchange differences are taken in the profit and loss account.

Maintenance Contracts

The Company's turnover includes charges for the sale of maintenance contracts. These contracts commit the Company to provide service and maintenance cover for equipment which it has sold and installed. Charges under such contracts are taken as income as they arise but provisions are made for the estimated cost of fulfilling contractual obligations and these provisions are included as a liability within "Accrued Charges and Deferred Income".

Deferred Tax

The Company's policy is to provide for deferred tax in full by the liability method at rates currently in force. Tax is deferred because the tax relief obtained from capital allowances exceeds depreciation charged against the cost of relevant fixed assets.

Pension Costs

The Company operates a defined contribution scheme for the benefit of some employees.. Contributions are due and are charged to revenue as related wages and salaries are due.

Group Accounts

Healthmatic Limited is a holding company because it owns the entire issued share capital of Healthmatic Limited, a company registered in the Republic of Ireland, which is therefore its subsidiary undertaking. However these Accounts present information about Healthmatic Limited only as an individual undertaking and not about its group. The Directors' understanding is that group accounts are not required because the Group qualifies as a small group.

Cash Flow Statement

The Company has not published a cash flow statement. It has chosen to take advantage of the exemption afforded by Financial Reporting Standard No. 1 on the grounds that it is a small company.

2Tangible fixed assets

	£
Cost
At 1 May 2015	2,905,178
Additions	140,577
Disposals	(166,613)
Revaluations	-
Transfers	-
At 30 April 2016	2,879,142
Depreciation
At 1 May 2015	1,323,713
Charge for the year	228,413
On disposals	(138,797)
At 30 April 2016	1,413,329
Net book values
At 30 April 2016	1,465,813
At 30 April 2015	1,581,465

On 30 April 2016 assets with a net book value of £497,653 (2015 - £538,744) were held under hire purchase contracts. The year's depreciation charge for these assets was £84,151 (2015 - £97,876).

3Transactions with directors

Name of director receiving advance or credit:	PF Dibben
Description of the transaction:	Current Account
Balance at 1 May 2015:	-
Advances or credits made:	£ 225,000
Advances or credits repaid:	-
Balance at 30 April 2016:	£ 225,000

Name of director receiving advance or credit:	PGF Dibben
Description of the transaction:	Current Account
Balance at 1 May 2015:	-
Advances or credits made:	£ 15,000
Advances or credits repaid:	-
Balance at 30 April 2016:	£ 15,000

PGF Dibben is a controlling director of and has beneficial and family interests that together control Hampshire Workspace Ltd which has charged this Company £12,000 for consultancy services provided during the year.

PF Dibben has family interests in Susannah Dibben and Associates Ltd which has charged £90,000 for consultancy services provided during the year.

Some directors of the Company are also shareholders and received dividend payments during the year. PF Dibben received £31,125, PGF Dibben Received £5,366 and RMH Berry received £11,200.

Loans from Directors are interest free and repayable on demand. On 30 April 2016, £225,000 was owing to PF Dibben and £15,000 to PGF Dibben.