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Unaudited Financial Statements for the Year Ended 28 February 2022 |
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Simple Online Healthcare Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2022 |
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for |
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Simple Online Healthcare Limited |
Simple Online Healthcare Limited (Registered number: SC498329) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Simple Online Healthcare Limited |
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Company Information |
for the Year Ended 28 February 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Simple Online Healthcare Limited (Registered number: SC498329) |
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Balance Sheet |
28 February 2022 |
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28.2.22 | 28.2.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Simple Online Healthcare Limited (Registered number: SC498329) |
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Balance Sheet - continued |
28 February 2022 |
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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 approved by the Board of Directors and authorised for issue on
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Simple Online Healthcare Limited (Registered number: SC498329) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Simple Online Healthcare Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Changes in accounting policies |
Goodwill amortisation is amortised over a useful life of 10 years (2021 - 20 years). As a result, amortisation expense has increased by £8,500. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill in connection with a business acquisition is being amortised on a straight line basis over an estimated useful life of 10 years. |
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Tangible fixed assets |
Tangible fixed cost assets are measured at cost, net of depreciation and any impairment losses. |
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Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Simple Online Healthcare Limited (Registered number: SC498329) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
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 |
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. |
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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. |
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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. |
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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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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. |
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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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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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Simple Online Healthcare Limited (Registered number: SC498329) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 March 2021 |
and 28 February 2022 |
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AMORTISATION |
At 1 March 2021 |
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Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
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COST |
At 1 March 2021 |
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Additions |
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At 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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Simple Online Healthcare Limited (Registered number: SC498329) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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5. | PROPERTY, PLANT AND EQUIPMENT - continued |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2021 |
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Additions |
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At 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Simple Online Healthcare Limited (Registered number: SC498329) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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8. | RELATED PARTY DISCLOSURES |
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Amounts due from Group undertakings includes amounts owed by 2UP Healthcare Ltd, £118,253 (2021-£118,253), and Simple Online Healthcare PYT Limited £36,000 (£36,000). Both are wholly owned subsidiaries of the parent company Simple Online Holdings Limited. Additionally, in FY21, there was an amount due from Mount Street (Aberdeen) Limited (2021- £255,904cr , 2022 - nil) which was disposed of during the year (but remains a related party through common control). Also trade debtors includes balance of £93,341 due from Simple Online Healthcare PYT Limited and trade creditors includes balance of £2,200 due to 2UP property Limited. |
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Also included in amounts due from Group undertakings is a balance due from the parent company Simple Online Holdings Limited of £91,963, 2020 - £694,555). |
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Simple online Holdings Limited has control over Simple Online Healthcare Limited. Simple online Healthcare Limited's registered office address is 77 Dunn Street, Glasgow, Scotland, G40 3PA. |
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9. | ULTIMATE CONTROLLING PARTY |
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Simple Online Healthcare Limited is a wholly owned subsidiary of the parent company Simple Online Holdings Limited. |