Company registration number 02172956 (England and Wales)
THE HELPING HAND COMPANY (LEDBURY) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
THE HELPING HAND COMPANY (LEDBURY) LIMITED
COMPANY INFORMATION
Directors
J T Barratt
(Appointed 6 April 2022)
A J Platt
(Appointed 6 April 2022)
Secretary
Dr P Hasling
Company number
02172956
Registered office
Unit 9
Bromyard Road Trading Estate
Ledbury
Herefordshire
United Kingdom
HR8 1NS
Auditor
Azets Audit Services
Epsilon House
The Square
Gloucester Business Park
Gloucester
United Kingdom
GL3 4AD
THE HELPING HAND COMPANY (LEDBURY) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 27
THE HELPING HAND COMPANY (LEDBURY) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2022
- 1 -
The directors present the strategic report for the year ended 30 June 2022.
Fair review of the business
The entirety of the company's share capital was acquired by the parent company, Sunrise Medical Holdings Limited, on 6 April 2022.
The company is therefore now a member of a group whose mission statement is "to improve people's lives by creating high quality and innovative products and solutions". The group also aims to increase stakeholder value by growing sales revenue and reducing costs. The overall strategy as set by the Board of the ultimate parent company is cascaded down through the group through both global, regional and local management teams.
The principal activity of the company continues to be that of the manufacture and supply of reaching aids for both the daily living and litter clearance markets, and the manufacture and supply of specialist chairs and hoists for the disabled. Future developments are likely to be in similar fields.
The company continues to invest in Research and Development ("R&D"). This continue to result in updates to existing products as well as the development of new ones. The directors
r
egard R&D investment as necessary for the continuing success of the company.
With the continued growth in the ageing population, the industry has further expanded and all sectors in which the company operates have experienced growth during the financial year.
Principal risks and uncertainties
Competition
Competitive pressure globally is a continuing risk for the company, which could result in it losing market share to its competitors. The company manages this risk by heavily investing in R&D activities to maintain product superiority by providing added value services to its customers, having fast response times not only in supplying products but also in handling customer queries and by maintaining strong relationships with customers.
Financial risk management objectives and policies
The company's activities expose it to a number of financial risks, including credit risk and foreign exchange rate risk.
Credit risk
The company's principal financial assets are cash and cash equivalents, and trade and other receivables.
The company's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments, where applicable, is limited because the counterparties are banks or financial institutions with high credit ratings assigned by international credit-rating agencies.
The company has no significant concentration of credit risk with the exposure spread over a large number of customers and counterparties.
Foreign exchange rate risk
There is also exposure to foreign currency exchange rates. The group's treasury function takes out contracts on behalf of the company to cover the forecast foreign exchange requirements and to manage the exchange rate risk at a group level.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 2 -
Key performance indicators
The results are shown in the company's profit and loss account on page 8 of the financial statements. They are summarised below:
Turnover 2022 - £19.0m 2021 as restated - £17.4m
Profit before tax 2022 - £2.7m 2021 as restated - £3.2m
The balance sheet on page 9 of the financial statements shows the company's financial position at the year end in net asset terms is a decrease of £8.2m, or 59%, to £5.7m. This is primarily as a result of a dividend of £10.5m paid to the parent company, Sunrise Medical Holdings Limited, during the year. Adjusting for this dividend, in net asset terms, there would have been an increase of £2.3m.
The company has maintained an acceptable level of service to its customers as expressed by its on-time delivery performance which across all product lines and markets remains consistently above 90%. This is in the upper quartile for the industry.
Other performance indicators
The directors consider that no further performance indicators are necessary or appropriate for an understanding of the development, performance or position of the company.
A J Platt
Director
30 March 2023
THE HELPING HAND COMPANY (LEDBURY) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2022
- 3 -
The directors present their annual report and financial statements for the year ended 30 June 2022.
Principal activities
The principal activity of the company is set out in the Strategic report.
Results and dividends
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £10,500,000. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
G H James
(Resigned 10 October 2022)
H J James
(Resigned 6 April 2022)
S Everest
(Resigned 6 April 2022)
O James
(Resigned 6 April 2022)
J T Barratt
(Appointed 6 April 2022)
A J Platt
(Appointed 6 April 2022)
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure in Strategic report
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report
certain
information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s
auditor
is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s
auditor
is aware of that information.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 4 -
On behalf of the board
A J Platt
Director
30 March 2023
THE HELPING HAND COMPANY (LEDBURY) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF THE HELPING HAND COMPANY (LEDBURY) LIMITED
- 5 -
Opinion
We have audited the financial statements of The Helping Hand Company (Ledbury) Limited (the 'company') for the year ended 30 June 2022 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 30 June 2022 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's
responsibilities for the audit of the
financial statements
section of our report. We are independent of the
company
in accordance with the ethical requirements that are relevant to our audit of the
financial statements
in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit
:
-
the information given in the strategic report and the directors'
r
eport for the financial year for which the financial statements are prepared is consistent with the financial statements
; and
-
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF THE HELPING HAND COMPANY (LEDBURY) LIMITED
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the strategic report or the directors'
r
eport
. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of
remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors'
r
esponsibilities
s
tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of
financial statements
that are free from material misstatement, whether due to fraud or error. In preparing the
financial statements
, the
directors are
responsible for assessing the company
'
s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have
no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the
financial statements
as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with
ISAs (UK)
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements
.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF THE HELPING HAND COMPANY (LEDBURY) LIMITED
- 7 -
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
-
e
nquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
-
r
eviewing minutes of meetings of those charged with governance;
-
a
ssessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
-
r
eviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
and
-
p
erforming audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Mark Handscombe (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
30 March 2023
Chartered Accountants
Statutory Auditor
Epsilon House
The Square
Gloucester Business Park
Gloucester
United Kingdom
GL3 4AD
THE HELPING HAND COMPANY (LEDBURY) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2022
- 8 -
2022
2021
as restated
Notes
£
£
Turnover
3
18,961,224
17,390,660
Cost of sales
(9,254,622)
(7,758,192)
Gross profit
9,706,602
9,632,468
Administrative expenses
(7,315,986)
(6,585,249)
Other operating income
30,935
156,744
Operating profit
5
2,421,551
3,203,963
Interest receivable and similar income
8
897
37,324
Exceptional items
(125,943)
Profit on disposal of interest in Joint Venture
389,830
-
Profit before taxation
2,686,335
3,241,287
Tax on profit
9
(570,963)
(448,030)
Profit for the financial year
2,115,372
2,793,257
The profit and loss account has been prepared on the basis that all operations are continuing operations.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2022
30 June 2022
- 9 -
2022
2021
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
11
460,751
344,529
Tangible assets
12
1,929,398
2,578,354
Investments
13
101
96
2,390,250
2,922,979
Current assets
Stocks
15
1,676,562
1,229,910
Debtors
16
3,888,231
3,248,648
Cash at bank and in hand
914,970
9,107,147
6,479,763
13,585,705
Creditors: amounts falling due within one year
17
(3,038,778)
(2,498,350)
Net current assets
3,440,985
11,087,355
Total assets less current liabilities
5,831,235
14,010,334
Provisions for liabilities
Deferred tax liability
19
384,511
178,982
(384,511)
(178,982)
Net assets
5,446,724
13,831,352
Capital and reserves
Called up share capital
20
9,000
9,000
Capital redemption reserve
21
1,000
1,000
Profit and loss reserves
22
5,436,724
13,821,352
Total equity
5,446,724
13,831,352
The financial statements were approved by the board of directors and authorised for issue on 30 March 2023 and are signed on its behalf by:
A J Platt
Director
Company Registration No. 02172956
THE HELPING HAND COMPANY (LEDBURY) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
As restated for the period ended 30 June 2021:
Balance at 1 July 2020
9,000
1,000
11,143,710
11,153,710
Effect of change in accounting policy
-
104,385
104,385
As restated
9,000
1,000
11,248,095
11,258,095
Year ended 30 June 2021:
Profit and total comprehensive income for the year
-
-
2,793,257
2,793,257
Dividends
10
-
-
(220,000)
(220,000)
Balance at 30 June 2021
9,000
1,000
13,821,352
13,831,352
Year ended 30 June 2022:
Profit and total comprehensive income for the year
-
-
2,115,372
2,115,372
Dividends
10
-
-
(10,500,000)
(10,500,000)
Balance at 30 June 2022
9,000
1,000
5,436,724
5,446,724
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
- 11 -
1
Accounting policies
Company information
The Helping Hand Company (Ledbury) Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 9, Bromyard Road Trading Estate, Ledbury, Herefordshire, United Kingdom, HR8 1NS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
T
he company has
therefore
taken advantage of exemptions from the following disclosure requirements:
-
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
-
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues
: Interest income expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
-
Section 26 ‘Share based Payment’
:
Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements
; and
-
Section 33 ‘Related Party Disclosures’
:
Compensation for key management personnel
.
The company has taken advantage of the exemption under section 40
2
of the
Companies Act 2006 not to prepare consolidated accounts
on the basis that its subsidiaries may be excluded from consolidation as their inclusion, even when taken together, would not be material for the purpose of giving a true and fair view
. The
financial statements
present information about the company as an individual entity and not about its group
.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 12 -
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the
fair
value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents
Over the patent's useful life
Development Costs
33.3% straight line
The amortisation of development costs commences once the developed products and services are brought to market.
1.6
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
1% straight line
Leasehold improvements
10% straight line
Plant and machinery
20%-25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.7
Fixed asset investments
Interests in subsidiaries
and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 13 -
Entities in which the company has a long
-
term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.8
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.9
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.10
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.11
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 14 -
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in
profit
or
loss
, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when
the company
transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 15 -
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts,
are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are
s
ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in
profit
or
loss
in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as
being measured at
fair value th
r
ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations
expire or are discharged or cancelled.
1.12
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.13
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 16 -
1.14
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.15
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.16
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.17
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
1.18
The company has taken advantage of the exemption available under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.
1.19
Exceptional items are those which are separately identified by virtue of their size or nature to allow a full understanding of the underlying performance of the company.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 17 -
1.20
Provisions are recognised when the
company
has a legal or constructive present obligation as a result of a past event, it is probable that the
company
will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.
Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i
s
measured at present value
,
the unwinding of the discount is recognised as a finance cost in
profit
or
loss
in the period
in which
it arises.
2
Change in accounting policy
Following the acquisition of the entire share capital of the company on 6 April 2022 by Sunrise Medical Holdings Limited, the company has changed its accounting policy in respect of recognition of identifiable development expenditure in line with group accounting policies. In accordance with FRS 102 Section 10, the impact of this change in accounting policy has been applied retrospectively to comparative information for prior periods to the earliest date for which it is practicable, as if this accounting policy had always been applied.
The effect on the comparative information disclosed in these financial statements is as follows:
Effect on Profit and loss for the year ended
30 June 2021
|
|
|
Development costs capitalised
|
|
|
|
|
|
Profit/(Loss) for the financial year
|
|
|
Effect on Profit and loss reserves
|
|
|
Opening reserves at 1 July 2020
|
|
|
Opening reserves at 1 July 2021
|
|
|
Effect on balance sheet as at 30 June 2021
|
|
|
Development costs carried forward
|
|
|
Development costs amortisation carried forward
|
|
|
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 18 -
3
Turnover and other revenue
An analysis of the company's turnover is as follows:
2022
2021
£
£
Turnover analysed by class of business
Sale of goods
17,869,416
16,359,300
Sale of services
1,091,808
1,031,360
18,961,224
17,390,660
2022
2021
£
£
Turnover analysed by geographical market
United Kingdom
13,297,722
11,704,108
United States of America
1,343,157
1,177,486
Rest of the World
4,320,345
4,509,066
18,961,224
17,390,660
2022
2021
£
£
Other revenue
Interest income
897
37,324
Grants received
30,935
156,744
4
Exceptional items
Exceptional items of £125,943 relate to professional and related fees incurred in relation to the sale of the company's shares to its parent company, Sunrise Medical Holdings Limited, on 6 April 2022.
5
Operating profit
2022
2021
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(51,389)
88,006
Research and development costs
120,041
123,293
Government grants
(30,935)
(156,744)
Fees payable to the company's auditor for the audit of the company's financial statements
8,500
6,750
Depreciation of owned tangible fixed assets
366,171
438,149
Depreciation of tangible fixed assets held under finance leases
6,511
6,511
Profit on disposal of tangible fixed assets
(60,363)
(31,878)
Amortisation of intangible assets
113,524
84,515
Operating lease charges
511,497
368,665
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 19 -
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Production
113
99
Sales and servicing
58
58
Administration
14
16
Research and development
10
10
Total
195
183
Their aggregate remuneration comprised:
2022
2021
£
£
Wages and salaries
6,106,159
5,537,999
Social security costs
642,678
501,827
Pension costs
332,706
394,442
7,081,543
6,434,268
7
Directors' remuneration
2022
2021
£
£
Remuneration for qualifying services
243,911
220,142
Company pension contributions to defined contribution schemes
80,000
243,911
300,142
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 0 (2021 - 4).
Remuneration disclosed above include the following amounts paid to the highest paid director:
2022
2021
£
£
Remuneration for qualifying services
194,629
141,680
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 20 -
8
Interest receivable and similar income
2022
2021
£
£
Interest income
Interest on bank deposits
897
37,324
9
Taxation
2022
2021
£
£
Current tax
UK corporation tax on profits for the current period
353,148
381,491
Adjustments in respect of prior periods
12,286
Total current tax
365,434
381,491
Deferred tax
Origination and reversal of timing differences
205,529
66,539
Total tax charge
570,963
448,030
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2022
2021
£
£
Profit before taxation
2,686,335
3,241,287
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2021: 19.00%)
510,404
615,845
Tax effect of expenses that are not deductible in determining taxable profit
13,741
11,678
Effect of change in corporation tax rate
92,283
Permanent capital allowances in excess of depreciation
(4,355)
Depreciation on assets not qualifying for tax allowances
3,207
Research and development tax credit
(142,107)
Deferred tax adjustments in respect of prior years
52,555
370
Profit on disposal of tangible assets
(154)
Impact of prior period adjustments
12,286
(40,809)
Gain on joint venture
(74,068)
Profit on sale of non qualifying assets
(31,883)
Taxation charge for the year
570,963
448,030
The main rate of deferred tax changes to 25% from April 2023.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 21 -
10
Dividends
2022
2021
£
£
Interim paid
10,500,000
220,000
11
Intangible fixed assets
Patents
Development Costs
Total
£
£
£
Cost
At 1 July 2021
54,625
577,515
632,140
Additions - internally developed
229,746
229,746
At 30 June 2022
54,625
807,261
861,886
Amortisation and impairment
At 1 July 2021
29,265
258,346
287,611
Amortisation charged for the year
3,682
109,842
113,524
At 30 June 2022
32,947
368,188
401,135
Carrying amount
At 30 June 2022
21,678
439,073
460,751
At 30 June 2021
25,360
319,169
344,529
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 22 -
12
Tangible fixed assets
Land and buildings Freehold
Leasehold improvements
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2021
1,441,603
2,750,620
919,149
5,111,372
Additions
42,979
791,692
67,256
901,927
Disposals
(1,405,919)
(3,600)
(48,129)
(1,457,648)
Transfers
(35,684)
35,684
At 30 June 2022
78,663
3,538,712
938,276
4,555,651
Depreciation and impairment
At 1 July 2021
234,319
1,700,517
598,182
2,533,018
Depreciation charged in the year
13,373
183,895
175,414
372,682
Eliminated in respect of disposals
(234,319)
(3,537)
(41,591)
(279,447)
At 30 June 2022
13,373
1,880,875
732,005
2,626,253
Carrying amount
At 30 June 2022
65,290
1,657,837
206,271
1,929,398
At 30 June 2021
1,207,284
1,050,103
320,967
2,578,354
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £6,511 (2021 - £6,511) for the year.
2022
2021
£
£
Plant and machinery
5,969
12,480
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 23 -
13
Fixed asset investments
2022
2021
Notes
£
£
Investments in subsidiaries
14
101
96
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2021
96
Additions
5
At 30 June 2022
101
Carrying amount
At 30 June 2022
101
At 30 June 2021
96
14
Subsidiaries
Details of the company's subsidiaries at 30 June 2022 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Symmetrikit Engineering Limited
England and Wales
Dormant
Ordinary
100.00
Helping Hand Environmental Limited
England and Wales
Dormant
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Symmetrikit Engineering Limited
100
Helping Hand Environmental Limited
1
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 24 -
15
Stocks
2022
2021
£
£
Raw materials and consumables
1,109,788
895,471
Finished goods and goods for resale
566,774
334,439
1,676,562
1,229,910
Included within inventories are impairment provisions totalling £181,673 (2021: £147,784).
16
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
3,617,312
2,998,779
Amounts owed by undertakings in which the company has a participating interest
93,918
Other debtors
79,627
1,597
Prepayments and accrued income
191,292
154,354
3,888,231
3,248,648
17
Creditors: amounts falling due within one year
2022
2021
Notes
£
£
Obligations under finance leases
18
7,013
Trade creditors
1,051,311
888,572
Corporation tax
153,148
381,491
Other taxation and social security
470,224
382,470
Other creditors
131,464
33,585
Accruals and deferred income
1,232,631
805,219
3,038,778
2,498,350
18
Finance lease obligations
2022
2021
Future minimum lease payments due under finance leases:
£
£
Within one year
7,013
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Amounts due under hire purchase agreements are secured by the assets to which they relate.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 25 -
19
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Liabilities
Liabilities
2022
2021
Balances:
£
£
Accelerated capital allowances
384,511
178,982
2022
Movements in the year:
£
Liability at 1 July 2021
178,982
Charge to profit or loss
113,246
Effect of change in tax rate - profit or loss
92,283
Liability at 30 June 2022
384,511
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
20
Share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
9,000
9,000
9,000
9,000
Ordinary shares rank pari passu and are each entitled to one vote in any circumstance; pari passu to dividend payments or any distribution; and pari passu to participate in a distribution arising from a winding up of the company.
21
Capital redemption reserve
2022
2021
£
£
At the beginning and end of the year
1,000
1,000
The capital redemption reserve reflects the nominal value of own shares purchased and cancelled.
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 26 -
22
Profit and loss reserves
2022
2021
as restated
£
£
At the beginning of the year
13,502,183
11,143,710
Prior year adjustment
319,169
104,385
As restated
13,821,352
11,248,095
Profit for the year
2,115,372
2,793,257
Dividends declared and paid in the year
(10,500,000)
(220,000)
At the end of the year
5,436,724
13,821,352
Retained
earnings includes all current and prior period retained profits and losses.
23
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2022
2021
£
£
Within one year
449,068
34,650
Between two and five years
1,706,297
138,600
In over five years
66,583
77,495
2,221,948
250,745
THE HELPING HAND COMPANY (LEDBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 27 -
24
Related party transactions
Innocare B.V.
At the beginning of the current year, and throughout the prior year, the company owned 50% of the issued share capital of Innocare B.V., a company registered in The Netherlands. This is a joint venture arrangement.
Subsequently, in December 2021, Innocare B.V. purchased the company's 50% holding in its ordinary shares for consideration of €460,000. €368,000 of this initial consideration was paid to the company on the completion date, with a further €92,000 due to the company on the anniversary of the sale. This amount is included in other debtors due in less than one year on the balance sheet and was received in December 2022.
Furthermore, and as part of the Share Purchase Agreement entered into between the two companies, the company will receive twice the EBIT (Earnings before interest and tax) of the joint venture company as calculated with reference to its financial statements for the year ended 31 December 2022. This amount is due to be paid to the company in two equal tranches, the first of which in May 2023, and the second in May 2024 which is to be uplifted for Dutch CPI. As this amount is currently unknown, no adjustment has been made to the company's assets as at the balance sheet date.
During the year, the company sold goods and services to the joint venture company, Innocare B.V. totalling £1,121,760 (2021: £978,207). At year end, Innocare B.V. owed the company £257,260 (2021: £93,918) and this amount was fully settled prior to the approval of these financial statements.
The Helping Hand Company Pension Fund (the "Pension Fund")
On 1 July 2021, the company sold its freehold property to the Pension Fund for consideration of £1,214,000. The beneficiaries at the time of the sale to the Pension Fund included the directors and shareholders of the company at the date the sale took place, Mr G H James, Mrs H J James, Mrs S H Everest and Mr O R James.
Immediately subsequent to this sale, the company entered into a lease of the property from the Pension fund at an annual rental of £336,000 per annum.
Furthermore, the company occupied other property owned by the Pension Fund in both the current and prior year. The total amount payable in rental costs by the company to the Pension fund in the year totalled £511,497
(2021: £234,833).
25
Directors' transactions
Dividends totalling £220,000 were paid in the prior year in respect of shares held by the company's directors as at the previous balance sheet date. No directors received dividends during the current year.
26
Ultimate controlling party
At the balance sheet date, the company's ultimate parent company and controlling party was Cidron Ollopa Investment B.V., a company incorporated in The Netherlands. The company's immediate parent company was Sunrise Medical Holdings Limited, a company incorporated in England and Wales. The parent company of the smallest and largest group to produce consolidated financial statements was Cidron Ollopa Investment B.V.. The registered address for this entity is De Lairessestraat 145a, 1075 HJ, Amsterdam, Netherlands.
2022-06-30
2021-07-01
false
CCH Software
CCH Accounts Production 2022.300
G H James
H J James
S Everest
S Everest
O James
J T Barratt
Dr P Hasling
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