Company Registration No. 03945478 (England and Wales)
HEALIX HEALTH SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
HEALIX HEALTH SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HEALIX HEALTH SERVICES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,297
43,432
Current assets
Debtors
4
590,757
1,571,232
Cash at bank and in hand
1,771,296
1,458,425
2,362,053
3,029,657
Creditors: amounts falling due within one year
5
(2,444,660)
(3,481,961)
Net current liabilities
(82,607)
(452,304)
Total assets less current liabilities
(73,310)
(408,872)
Provisions for liabilities
(388,985)
(405,883)
Net liabilities
(462,295)
(814,755)
Capital and reserves
Called up share capital
6
4,000
4,000
Profit and loss reserves
(466,295)
(818,755)
Total equity
(462,295)
(814,755)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 August 2020 and are signed on its behalf by:
C E Butcher
Director
Company Registration No. 03945478
HEALIX HEALTH SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Healix Health Services Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Healix House, Esher Green, Esher, Surrey, KT10 8AB.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
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 represents amounts invoiced to third parties, net of VAT and trade discounts in respect of the following sources of income:
Case fee revenue is recognised either in the month the case is opened or in the month that the provider invoices for the case are approved for payment.
Trust administration fee income not at risk is recognised evenly on a monthly basis over the length of the scheme contract.
Trust fee income at risk is recognised monthly; split into income calculated at a given rate per principal member and the balance of risk income. The given rate per principal members is recognised monthly over the length of the scheme from the first month of the contract. The balance of the risk income is recognised monthly after a three month delay, once the scheme's performance has been initially assessed. The scheme's performance and forecast performance is assessed and tracked monthly and any losses are recognised within cost of sales as the scheme matures.
Where member numbers are fixed, Video GP (VGP) revenue is recognised in the first month of the contract and the supplier cost for this service is recognised in the same month as a cost of sale.
Where member numbers fluctuate, VGP revenue is recognised on a month by month basis together with the related supplier cost for this service which is recorded each month too.
Helpline revenue is recognised over the contractual period, either on a fixed fee or volume basis.
1.4
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.
HEALIX HEALTH SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 3 -
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:
Leasehold improvements
Over remaining term of lease
Fixtures and fittings
25% straight line basis
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
.
1.5
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in
nonconvertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in
profit or loss. Derivative financial instruments are initially recorded
a
t cost and thereafter at fair value with
changes recognised in profit or loss.
1.6
Taxation
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.
1.7
Provisions
Provisions are recognised on trust fees at risk when the company has assessed a loss on a scheme that is still ongoing as at the year end when it is probable that the company will be required to settle part of an obligation and a reliable estimate can be made of the amount of the obligation.
The provision takes into account the risks and uncertainties of the obligation.
Where a scheme is assessed and all of the fee will be lost the total income and expenditure on the scheme is bought into account and the loss is recognised.
1.8
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.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
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
d
asset are consumed.
HEALIX HEALTH SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
70
90
3
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2019 and 31 March 2020
90,371
105,336
195,707
Depreciation and impairment
At 1 April 2019
63,408
88,867
152,275
Depreciation charged in the year
19,033
15,102
34,135
At 31 March 2020
82,441
103,969
186,410
Carrying amount
At 31 March 2020
7,930
1,367
9,297
At 31 March 2019
26,963
16,469
43,432
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
425,481
1,492,901
Other debtors
10,740
17,849
Prepayments and accrued income
154,536
60,482
590,757
1,571,232
HEALIX HEALTH SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
148,232
67,677
Taxation and social security
126,204
216,190
Other creditors
475,325
932,703
Accruals and deferred income
1,694,899
2,265,391
2,444,660
3,481,961
The bank holds a fixed and floating charge over all current and future assets of the company.
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
4,000 Ordinary of £1 each
4,000
4,000
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Ria Leadbetter.
The auditor was Richardsons.
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2020
2019
£
£
967,500
247,500