Company registration number 05618032 (England and Wales)
SLC CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
SLC CARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SLC CARE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
434,738
561,815
Current assets
Stocks
246,493
302,787
Debtors
5
550,247
446,546
Cash at bank and in hand
429,069
391,841
1,225,809
1,141,174
Creditors: amounts falling due within one year
6
(365,402)
(389,832)
Net current assets
860,407
751,342
Total assets less current liabilities
1,295,145
1,313,157
Provisions for liabilities
(19,655)
(19,655)
Net assets
1,275,490
1,293,502
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
1,275,390
1,293,402
Total equity
1,275,490
1,293,502

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 December 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.

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.

SLC CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 September 2022 and are signed on its behalf by:
Mr P G Spiby
Director
Company Registration No. 05618032
SLC CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information

SLC Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is Healthcare House, High Street, Pentre Broughton, Wrexham, LL11 6AG.

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
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover compromises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.

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
4% on cost
Leasehold land and buildings
4% on cost
Operating Lease assets
33% on cost
Fixtures and fittings
20% on cost
Computers
33% on cost
Motor vehicles
20% on cost
Portacabin
10% 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.

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.

SLC CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.5
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.

 

 

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.

1.6
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.

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.

1.7
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.

1.8
Retirement benefits

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

SLC CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.9
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.

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.

3
Employees

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

2021
2020
Number
Number
Total
44
41
SLC CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Operating Lease assets
Fixtures and fittings
Computers
Motor vehicles
Portacabin
Total
£
£
£
£
£
£
£
£
Cost
At 1 January 2021
417,299
270,654
118,472
44,442
118,367
196,343
-
0
1,165,577
Additions
-
0
-
0
12,775
2,941
774
-
0
17,545
34,035
Disposals
(125,000)
-
0
-
0
-
0
-
0
-
0
-
0
(125,000)
At 31 December 2021
292,299
270,654
131,247
47,383
119,141
196,343
17,545
1,074,612
Depreciation and impairment
At 1 January 2021
110,399
85,095
109,676
43,140
87,841
167,611
-
0
603,762
Depreciation charged in the year
11,692
10,826
8,548
935
11,417
15,939
1,755
61,112
Eliminated in respect of disposals
(25,000)
-
0
-
0
-
0
-
0
-
0
-
0
(25,000)
At 31 December 2021
97,091
95,921
118,224
44,075
99,258
183,550
1,755
639,874
Carrying amount
At 31 December 2021
195,208
174,733
13,023
3,308
19,883
12,793
15,790
434,738
At 31 December 2020
306,900
185,559
8,796
-
30,526
28,731
-
0
561,815
SLC CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
427,151
350,495
Other debtors
123,096
96,051
550,247
446,546
6
Creditors: amounts falling due within one year
2021
2020
£
£
Other borrowings
176,197
183,705
Trade creditors
87,230
91,194
Corporation tax
-
0
36,948
Other taxation and social security
79,310
60,840
Other creditors
12,840
7,545
Accruals and deferred income
9,825
9,600
365,402
389,832
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
8
Related party transactions

Dividends paid to the directors in the year totalled £35,304 (2020 - £92,687).

 

Included within other debtors is a loan for £118,816 to Cloudcair Limited (2020 - £96,051), a company under common ownership and the loan was interest free and repayable on demand.

 

Within creditors is an amount of £176,197 (2020 - £183,705) due to SLC Care Agency Ltd, a company under common ownership. This loan is interest free and repayable on demand.

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