Company Registration No. 00402658 (England and Wales)
SALLIS HEALTHCARE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
SALLIS HEALTHCARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
SALLIS HEALTHCARE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2021
30 September 2021
- 1 -
2021
2020
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
106,776
117,477
Current assets
Stocks
360,295
382,538
Debtors
5
372,112
337,983
Cash at bank and in hand
51,083
253
783,490
720,774
Creditors: amounts falling due within one year
6
(324,585)
(321,140)
Net current assets
458,905
399,634
Total assets less current liabilities
565,681
517,111
Creditors: amounts falling due after more than one year
7
(33,131)
(43,847)
Provisions for liabilities
(11,609)
(13,185)
Net assets
520,941
460,079
Capital and reserves
Called up share capital
8
101,000
100,000
Profit and loss reserves
419,941
360,079
Total equity
520,941
460,079
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 30 September 2021 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.
T
he 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.
SALLIS HEALTHCARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2021
30 September 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 December 2021 and are signed on its behalf by:
Mr P R Sallis
Director
Company Registration No. 00402658
SALLIS HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 3 -
1
Accounting policies
Company information
Sallis Healthcare Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Vernon Works, Waterford Street, Basford, Nottingham, NG6 0DH.
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
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.
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.
1.3
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:
Land and buildings Freehold
2% straight line
Plant and machinery
15% reducing balance and 10% reducing balance
Fixtures, fittings & equipment
25% reducing balance
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
Borrowing costs related to fixed assets
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
SALLIS HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 4 -
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
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.
1.6
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.
1.7
Financial instruments
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.
1.8
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.
1.9
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.
SALLIS HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 5 -
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.
1.10
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.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
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.
1.13
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
SALLIS HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
42
46
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
£
Cost
At 1 October 2020
114,414
1,661,797
174,467
1,950,678
Additions
1,170
1,170
At 30 September 2021
114,414
1,662,967
174,467
1,951,848
Depreciation and impairment
At 1 October 2020
74,993
1,585,764
172,444
1,833,201
Depreciation charged in the year
849
10,160
862
11,871
At 30 September 2021
75,842
1,595,924
173,306
1,845,072
Carrying amount
At 30 September 2021
38,572
67,043
1,161
106,776
At 30 September 2020
39,421
76,033
2,023
117,477
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
345,912
314,081
Other debtors
26,200
23,902
372,112
337,983
SALLIS HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 7 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
11,365
37,890
Trade creditors
145,883
132,252
Taxation and social security
86,165
70,030
Other creditors
81,172
80,968
324,585
321,140
Other creditors include £50,000 owed to PR Sallis, a director of this company. No Interest has been paid on this loan.
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
29,837
40,000
Other creditors
3,294
3,847
33,131
43,847
8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
21,000
20,000
21,000
20,000
2021
2020
2021
2020
Preference share capital
Number
Number
£
£
Issued and fully paid
4.2% non redeemable cumulative 1st preference shares of £1 each
20,000
20,000
20,000
20,000
5.6% non redeemable cumulative 2nd preference shares of £1 each
60,000
60,000
60,000
60,000
80,000
80,000
80,000
80,000
Preference shares classified as equity
80,000
80,000
Total equity share capital
101,000
100,000
SALLIS HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 8 -
9
Prior period adjustment
A prior year adjustment has been made, causing the 2020 figures to be restated. This adjustment was required due to a bounce back loan being incorrectly recorded as grant income.
Changes to the balance sheet
As previously reported
Adjustment
As restated at 30 Sep 2020
£
£
£
Creditors due after one year
Loans and overdrafts
-
(40,000)
(40,000)
Capital and reserves
Profit and loss reserves
400,079
(40,000)
360,079
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 September 2020
£
£
£
Other operating income
92,935
(40,000)
52,935
Profit for the financial period
41,521
(40,000)
1,521
Reconciliation of changes in equity
1 October
30 September
2019
2020
£
£
Adjustments to prior year
Prior year adjustment
-
(40,000)
Equity as previously reported
502,358
500,079
Equity as adjusted
502,358
460,079
Analysis of the effect upon equity
Profit and loss reserves
-
(40,000)
Reconciliation of changes in profit for the previous financial period
2020
£
Adjustments to prior year
Prior year adjustment
(40,000)
Profit as previously reported
41,521
Profit as adjusted
1,521
2021-09-30
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false
20 December 2021
CCH Software
CCH Accounts Production 2022.100
No description of principal activity
Mr R Sallis
Mr P R Sallis
Mr R J Sallis
Mr D A Pendlebury
Ms T Herrod
Mr D A Pendlebury
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