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2020-12-01
Sage Accounts Production Advanced 2021 - FRS102_2021
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2020-12-01
2021-11-30
04012292
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04012292
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04012292
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04012292
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04012292
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04012292
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04012292
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04012292
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04012292
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04012292
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2020-11-30
04012292
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04012292
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2020-11-30
04012292
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04012292
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2020-11-30
04012292
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2020-12-01
2021-11-30
COMPANY REGISTRATION NUMBER:
04012292
Padgham Care Services Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
Padgham Care Services Limited |
|
Abridged Financial Statements |
|
Year Ended 30 November 2021
Abridged statement of financial position |
1 |
|
|
Notes to the abridged financial statements |
3 |
|
|
Padgham Care Services Limited |
|
Abridged Statement of Financial Position |
|
30 November 2021
Fixed Assets
Tangible assets |
5 |
|
3,157,513 |
3,161,312 |
Investments |
6 |
|
2 |
2 |
|
|
------------ |
------------ |
|
|
3,157,515 |
3,161,314 |
|
|
|
|
|
Current Assets
Debtors |
371,784 |
|
1,021,193 |
Cash at bank and in hand |
480,987 |
|
45,405 |
|
--------- |
|
------------ |
|
852,771 |
|
1,066,598 |
|
|
|
|
Creditors: amounts falling due within one year |
496,468 |
|
212,938 |
|
--------- |
|
------------ |
Net Current Assets |
|
356,303 |
853,660 |
|
|
------------ |
------------ |
Total Assets Less Current Liabilities |
|
3,513,818 |
4,014,974 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
2,991,817 |
3,413,440 |
|
|
|
|
|
Provisions |
|
76,373 |
73,514 |
|
|
------------ |
------------ |
Net Assets |
|
445,628 |
528,020 |
|
|
------------ |
------------ |
|
|
|
|
Capital and Reserves
Called up share capital |
9 |
|
4 |
4 |
Profit and loss account |
|
445,624 |
528,016 |
|
|
--------- |
--------- |
Shareholders Funds |
|
445,628 |
528,020 |
|
|
--------- |
--------- |
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Padgham Care Services Limited |
|
Abridged Statement of Financial Position (continued) |
|
30 November 2021
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 November 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
6 September 2022
, and are signed on behalf of the board by:
Company registration number:
04012292
Padgham Care Services Limited |
|
Notes to the Abridged Financial Statements |
|
Year Ended 30 November 2021
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Padgham Care Services Ltd, 1 Eastway, Eastfield, Scarborough, North Yorkshire, YO11 3LS.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents the sale of services supplied during the year.
Exceptional items
Exceptional items are material and non-recurring items. These are disclosed separately on the face of the income statement to reflect performance in a consistent manner, in line with how the business is managed and measured on a day-to-day basis.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property improvements |
- |
10% straight line |
|
Fixtures and fittings |
- |
15% straight line |
|
Equipment |
- |
33% straight line |
|
|
|
|
There is no charge in respect of depreciation on freehold buildings for the period. In determining the residual value of freehold buildings, the directors have considered the amount they would currently obtain from disposal of the asset if the asset were already of the age and condition expected at the end of its useful life, having regard to the factors mentioned above. As a result, the directors estimate any depreciation charge to be immaterial and as such the depreciation charge is nil for the period.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2020:
3
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 December 2020 and 30 November 2021 |
3,205,176 |
|
------------ |
Depreciation |
|
At 1 December 2020 |
43,864 |
Charge for the year |
3,799 |
|
------------ |
At 30 November 2021 |
47,663 |
|
------------ |
Carrying amount |
|
At 30 November 2021 |
3,157,513 |
|
------------ |
At 30 November 2020 |
3,161,312 |
|
------------ |
|
|
6.
Investments
|
£ |
Cost |
|
At 1 December 2020 and 30 November 2021 |
2 |
|
---- |
Impairment |
|
At 1 December 2020 and 30 November 2021 |
– |
|
---- |
Carrying amount |
|
At 30 November 2021 |
2 |
|
---- |
At 30 November 2020 |
2 |
|
---- |
|
|
7.
Creditors:
amounts falling due after more than one year
Included within creditors amounts falling due after more than one year is an amount of £2,049,671 (2020: £2,684,060) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8.
Securities
The aggregate amount of secured liabilities at the year end amounted to £3,374,590 (2020: £3,485,000).
National Westminster Bank Plc have a fixed and floating charge over the property or undertaking of the company.
9.
Called up share capital
Issued, called up and fully paid
|
2021 |
2020 |
|
No. |
£ |
No. |
£ |
Ordinary A shares shares of £ 0.01 each |
140 |
1 |
140 |
1 |
Ordinary B shares shares of £ 0.01 each |
140 |
1 |
140 |
1 |
Ordinary C shares shares of £ 0.01 each |
40 |
– |
40 |
– |
Ordinary D shares shares of £ 0.01 each |
40 |
– |
40 |
– |
Ordinary E shares shares of £0.01 each |
40 |
– |
40 |
– |
|
---- |
---- |
---- |
---- |
|
400 |
4 |
400 |
4 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Directors' advances, credits and guarantees
During the year, the company made loans to the directors as follows:
|
|
Balance at 1 December 2020 |
Advanced during the year |
Repaid during the year |
Balance at 30 November 2021 |
|
|
£ |
£ |
£ |
£ |
|
Mr M A Padgham |
28,277 |
124,357 |
(153,000) |
(366) |
|
Mr A M Padgham |
25,367 |
242,076 |
(250,270) |
17,173 |
|
|
|
|
|
|
Interest has been charged at an appropriate rate.
11.
Related party transactions
The company has taken advantage of the exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group companies. During the year the company provided and received short term loans from related parties. The balance outstanding due from/(to) related parties at the year end date is as follows:
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Amounts due from entities where hold a controlling interest |
248,160 |
268,160 |
|
Amounts due from other related parties |
70,000 |
675,000 |
|
|
|
|
Outstanding balances with entities are unsecured, interest free and repayable on demand.