Company Registration No. 07851084 (England and Wales)
YORKSHIRE HEALTH SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
31 March 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
YORKSHIRE HEALTH SOLUTIONS LIMITED
COMPANY INFORMATION
Directors
Mrs S J Fawcett
Mrs J L Holgate
Company number
07851084
Registered office
The Rainhall Centre
Rainhall Road
Barnoldswick
Lancashire
BB18 5DR
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
YORKSHIRE HEALTH SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
YORKSHIRE HEALTH SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
150,015
116,727
Current assets
Debtors
4
2,701,819
1,066,891
Cash at bank and in hand
3,805
7,491
2,705,624
1,074,382
Creditors: amounts falling due within one year
5
(1,522,347)
(785,172)
Net current assets
1,183,277
289,210
Total assets less current liabilities
1,333,292
405,937
Creditors: amounts falling due after more than one year
6
(43,275)
(120,001)
Provisions for liabilities
(17,203)
(23,556)
Net assets
1,272,814
262,380
Capital and reserves
Called up share capital
160
160
Profit and loss reserves
1,272,654
262,220
Total equity
1,272,814
262,380
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
YORKSHIRE HEALTH SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 December 2023 and are signed on its behalf by:
Mrs S J Fawcett
Mrs J L Holgate
Director
Director
Company Registration No. 07851084
YORKSHIRE HEALTH SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Yorkshire Health Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Rainhall Centre, Rainhall Road, Barnoldswick, Lancashire, BB18 5DR.
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 amounts 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.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
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:
Leasehold improvements
33% on cost
Plant and equipment
25% on reducing balance
Office equipment
15% on reducing balance
Computers
10% on cost
Motor vehicles
25% on cost
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.
1.4
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.
YORKSHIRE HEALTH SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
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.
1.5
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 paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.
2
Employees
The average monthly number of persons employed by the company during the year was:
2023
2022
Number
Number
Total
YORKSHIRE HEALTH SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Office equipment
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2022
11,181
131,150
12,538
17,408
22,980
195,257
Additions
25,800
840
3,911
78,000
108,551
Disposals
(36,012)
(22,980)
(58,992)
At 31 March 2023
11,181
120,938
13,378
21,319
78,000
244,816
Depreciation and impairment
At 1 April 2022
11,181
45,856
8,878
12,615
78,530
Depreciation charged in the year
15,572
633
2,317
18,522
Eliminated in respect of disposals
(2,251)
(2,251)
At 31 March 2023
11,181
59,177
9,511
14,932
94,801
Carrying amount
At 31 March 2023
61,761
3,867
6,387
78,000
150,015
At 31 March 2022
85,294
3,660
4,793
22,980
116,727
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,042,864
613,948
Other debtors
1,658,955
452,943
2,701,819
1,066,891
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,201,005
492,429
Taxation and social security
244,330
61,221
Other creditors
77,012
231,522
1,522,347
785,172
YORKSHIRE HEALTH SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
43,275
120,001
7
Secured debts
Included in creditors are the following secured debts:
Other loans of £103,081 (2022 - £157,272) are secured using personal guarantees given by the directors.
Invoice financing facilities of £217,956 (2022 - £127,336) are secured over the debts to which they relate.
8
Operating lease commitments
Lessee
At the year end the company had total operating lease commitments of £816,845 (2022 - £415,232).
9
Related party transactions
During the year, services of £5,114,843 (2022 - £2,341,565) were purchased from a company owned by the directors. At the reporting date, £1,047,250 (2022 - £258,696) was owed to that company for invoices due under normal trading conditions and £1,133,661 (2022 - £75,080) was due from that company in respect of a loan.
The loan is interest free and there are no fixed repayment terms.