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Financial Statements for the Year Ended 31 March 2020 |
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DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2020 |
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for |
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DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED |
DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED (REGISTERED NUMBER: 05949077) |
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Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED |
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Company Information |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
& Statutory Auditor |
Third Floor |
126-134 Baker Street |
London |
W1U 6UE |
DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED (REGISTERED NUMBER: 05949077) |
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Balance Sheet |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were authorised for issue by the Board of Directors and authorised for issue on
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DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED (REGISTERED NUMBER: 05949077) |
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Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Dr Batras' Positive Health Clinic (UK) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue Recognition |
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Revenue represents fees charged for medical consultancy services under different plans on non refundable, fixed rates for different contractual periods, net of discounts. Revenue is recognised over the plan period in proportion of the services provided and the income relating to the unexpired contractual plan period is deferred for recognition in the subsequent relevant years and classified as "deferred income" under " Creditors: Accruals and deferred income". |
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Recognition of Medical Consultancy Fees: |
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The Company receives medical consultancy fees from patients upfront which are non - refundable and medical consultancy services are rendered to patients over the span of the consultancy period generally ranging from 12 months up to 36 months. |
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For the purpose of recognition of income from fees for medical consultancy, since the doctors spend significant amount of their time and their skills, knowledge and experience in identifying the patient's issues in the first sitting with the patient and also significant administrative time and resources are applied in the initial registration process; the appropriate amount, out of the total fees charged, as estimated by the management having regard to the above considerations, is recognised as the income in the month in which the patient is registered and the balance amount of fees is accounted on a straight line monthly basis over the remaining period of the individual contract for the repeat visits of the patients. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED (REGISTERED NUMBER: 05949077) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Going concern |
As at 31 March 2020, total liabilities of the company exceeded its total assets by £51,441 (2019: £1,164,866). However, the directors of the company consider that the going concern basis is appropriate in view of the assurance of continuing support, which the company has received from its shareholders. |
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The financial statements have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The Company Directors having made appropriate enquiries consider that adequate resources exist for the Company to continue in operational existence for the foreseeable future and with the continued support of the company's shareholder, the company will be able to meet its liabilities as they fall due for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements. |
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Since the financial year end, there are uncertainties relating to COVID19 pandemic. No provisions have been made in the financial statements in respect of these uncertainties. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2019 |
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Disposals | ( |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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Impairments |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED (REGISTERED NUMBER: 05949077) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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Prepayments |
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Other debtors include £1,918 rent deposit held by the landlord that can be used in the event of a default. |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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VAT | 132 | 1,356 |
Accruals and deferred income |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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The clinics at Wembley and Southall were closed at the end of the year. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary Shares | £1 | 10,100 | 10,100 |
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Ordinary - DVR | £0.06 | 1,281,091 | - |
1,291,191 | 10,100 |
DR BATRAS' POSITIVE HEALTH CLINIC (UK) |
LIMITED (REGISTERED NUMBER: 05949077) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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8. | CALLED UP SHARE CAPITAL - continued |
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During the year, intercompany loans were converted to equity as follows: |
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DVR Equity Shares issued upon
Conversion of Loan to Equity |
No of shares |
Nominal value
of each share |
Total nominal
value |
£ | £ |
Dr. Batra's Positive Health Clinic
Private Limited, India |
12,400,000 |
0.06 |
744,000 |
Dr. Batra's Homeopathic Clinic FZ
LLC, UAE |
8,951,516 |
0.06 |
537,091 |
Total | 21,351,516 | 1,281,091 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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Emphasis of Matter |
In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in the Directors' Report and note 2 to the financial statements concerning the company's ability to continue as a going concern. The company incurred a net loss of £167,666 (2019: 86,649) during the year ended 31 March 2020 and, at that date, the company's current liabilities exceed its total assets by £51,441 (2019: 1,164,866) and it had net current liabilities of £70,217 (2019:1,233,023). These conditions, along with the other matters explained in note 2 to the the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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Included in creditors payable within one year is an amount of £53,944 (2019: £797,118) which is due to the parent company, Dr. Batras' Positive Health Clinic Private Limited. During the year, an interest of £826 was due on balance outstanding to the parent company. |
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Included in creditors payable within one year is £Nil (2019: £437,041) advanced by Dr. Batras' Positive Health Clinic FZLLC Dubai, a company under the common control of the parent company. |
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The outstanding loan from the related party was converted to equity during the year. |
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11. | ULTIMATE CONTROLLING PARTY |
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By virtue of his shareholding in the parent company, Dr Mukesh Batra is considered to be the ultimate controlling party of the company. |
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12. | ULTIMATE PARENT COMPANY |
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The company's parent undertaking which draws up the consolidated financial statements is Dr. Batra's Positive Health Clinic Private Ltd., a company registered in India. |