Company Registration No. 02870656 (England and Wales)
COMPLEAT CARE (UK) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
PAGES FOR FILING WITH REGISTRAR
COMPLEAT CARE (UK) LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
COMPLEAT CARE (UK) LTD
BALANCE SHEET
AS AT
31 JANUARY 2022
31 January 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
9,408
10,752
Tangible assets
4
997,082
966,054
1,006,490
976,806
Current assets
Stocks
1,295
960
Debtors
5
364,201
321,073
Cash at bank and in hand
104,148
195,412
469,644
517,445
Creditors: amounts falling due within one year
6
(67,449)
(113,269)
Net current assets
402,195
404,176
Total assets less current liabilities
1,408,685
1,380,982
Provisions for liabilities
(52,230)
(47,417)
Net assets
1,356,455
1,333,565
Capital and reserves
Called up share capital
133,823
133,823
Revaluation reserve
390,678
345,653
Profit and loss reserves
831,954
854,089
Total equity
1,356,455
1,333,565

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 January 2022 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.

COMPLEAT CARE (UK) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2022
31 January 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 August 2022 and are signed on its behalf by:
Mr M Sisodiya
Director
Company Registration No. 02870656
COMPLEAT CARE (UK) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2022
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 February 2020
133,823
184,017
793,540
1,111,380
Year ended 31 January 2021:
Profit for the year
-
-
120,050
120,050
Other comprehensive income:
Revaluation of tangible fixed assets
-
167,135
-
167,135
Total comprehensive income for the year
-
0
167,135
120,050
287,185
Dividends
-
-
(65,000)
(65,000)
Transfers
-
(5,499)
5,499
-
Balance at 31 January 2021
133,823
345,653
854,089
1,333,565
Year ended 31 January 2022:
Profit for the year
-
-
36,533
36,533
Other comprehensive income:
Revaluation of tangible fixed assets
-
51,357
-
51,357
Total comprehensive income for the year
-
0
51,357
36,533
87,890
Dividends
-
-
(65,000)
(65,000)
Transfers
-
(6,332)
6,332
-
Balance at 31 January 2022
133,823
390,678
831,954
1,356,455
COMPLEAT CARE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
- 4 -
1
Accounting policies
Company information

Compleat Care (UK) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Ihlee Close, Paston, Peterborough, PE4 6BE.

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, modified to include freehold 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.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

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.

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:

Freehold land and buildings
2% straight line / 0% on land element
Plant and equipment
15% 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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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).

1.6
Stocks

Stocks are stated at the lower of cost and net realisable value.

COMPLEAT CARE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 5 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

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.

Basic financial assets

Basic financial assets, which include debtors , cash and bank balances and loans to fellow group companies, 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.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, 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.

1.9
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.

1.10
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.

COMPLEAT CARE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 6 -
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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Government grants

Government grants are recognised at the fair value of the asset received 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.

1.14
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
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
84
108
COMPLEAT CARE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 7 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2021 and 31 January 2022
13,440
Amortisation and impairment
At 1 February 2021
2,688
Amortisation charged for the year
1,344
At 31 January 2022
4,032
Carrying amount
At 31 January 2022
9,408
At 31 January 2021
10,752
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost or valuation
At 1 February 2021
1,027,135
239,271
1,266,406
Additions
-
0
6,840
6,840
Revaluation
51,357
-
0
51,357
At 31 January 2022
1,078,492
246,111
1,324,603
Depreciation and impairment
At 1 February 2021
120,609
179,743
300,352
Depreciation charged in the year
14,307
12,862
27,169
At 31 January 2022
134,916
192,605
327,521
Carrying amount
At 31 January 2022
943,576
53,506
997,082
At 31 January 2021
906,526
59,528
966,054

Land and buildings with a carrying amount of £943,576 were revalued at 31 January 2022 by the directors of the company on the basis of market value. The valuation was based on recent market transactions on arm's length terms for similar properties.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

COMPLEAT CARE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
4
Tangible fixed assets
(Continued)
- 8 -
Freehold
2022
2021
£
£
Cost
664,540
664,540
Accumulated depreciation
(111,643)
(103,668)
Carrying value
552,897
560,872
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
48,583
79,854
Amounts owed by group undertakings
295,595
222,432
Prepayments and accrued income
20,023
18,787
364,201
321,073
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
25,771
27,664
Corporation tax
14,296
31,454
Other taxation and social security
9,861
12,908
Other creditors
9,513
9,194
Accruals and deferred income
8,008
32,049
67,449
113,269
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Management charges
Rental expense
2022
2021
2022
2021
£
£
£
£
Entities with control, joint control or significant influence over the company
25,000
25,000
16,531
16,531
COMPLEAT CARE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
7
Related party transactions
(Continued)
- 9 -

The following amounts were outstanding at the reporting end date:

2022
2021
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
295,595
222,432
8
Parent company

The company is a subsidiary of Siscare Ltd. The registered office of the parent is 4 Ihlee Close, Paston, Peterborough, PE4 6BE.

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