IRIS Accounts Production v22.1.4.3 10207856 Board of Directors 1.1.21 31.12.21 31.12.21 30.8.22 false true false false false true true true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure102078562020-12-31102078562021-12-31102078562021-01-012021-12-31102078562019-12-31102078562020-01-012020-12-31102078562020-12-3110207856ns16:EnglandWales2021-01-012021-12-3110207856ns15:PoundSterling2021-01-012021-12-3110207856ns11:Director12021-01-012021-12-3110207856ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3110207856ns11:SmallEntities2021-01-012021-12-3110207856ns11:Audited2021-01-012021-12-3110207856ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3110207856ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3110207856ns11:FullAccounts2021-01-012021-12-311020785612021-01-012021-12-3110207856ns11:OrdinaryShareClass12021-01-012021-12-3110207856ns6:CurrentFinancialInstruments2021-12-3110207856ns6:CurrentFinancialInstruments2020-12-3110207856ns6:Non-currentFinancialInstruments2021-12-3110207856ns6:Non-currentFinancialInstruments2020-12-3110207856ns6:ShareCapital2021-12-3110207856ns6:ShareCapital2020-12-3110207856ns6:RetainedEarningsAccumulatedLosses2021-12-3110207856ns6:RetainedEarningsAccumulatedLosses2020-12-3110207856ns11:RegisteredOffice2021-01-012021-12-3110207856ns6:NetGoodwill2021-01-012021-12-3110207856ns6:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3110207856ns6:OwnedOrFreeholdAssetsns6:LandBuildings2021-01-012021-12-3110207856ns6:FurnitureFittings2021-01-012021-12-3110207856ns6:NetGoodwill2020-12-3110207856ns6:NetGoodwill2021-12-3110207856ns6:NetGoodwill2020-12-3110207856ns6:LandBuildings2020-12-3110207856ns6:FurnitureFittings2020-12-3110207856ns6:LandBuildings2021-01-012021-12-3110207856ns6:LandBuildings2021-12-3110207856ns6:FurnitureFittings2021-12-3110207856ns6:LandBuildings2020-12-3110207856ns6:FurnitureFittings2020-12-3110207856ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3110207856ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3110207856ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-12-3110207856ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2020-12-3110207856ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-12-3110207856ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2020-12-3110207856ns6:DeferredTaxation2020-12-3110207856ns6:DeferredTaxation2021-01-012021-12-3110207856ns6:DeferredTaxation2021-12-3110207856ns11:OrdinaryShareClass12021-12-3110207856ns6:RetainedEarningsAccumulatedLosses2020-12-3110207856ns6:RetainedEarningsAccumulatedLosses2021-01-012021-12-311020785612021-01-012021-12-31
REGISTERED NUMBER: 10207856 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHARING OAST LIMITED

CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4 77,337
Tangible assets 6 1,162,763 1,187,885
1,162,767 1,265,222

CURRENT ASSETS
Debtors 7 111,129 112,008
Cash at bank 801,679 485,723
912,808 597,731
CREDITORS
Amounts falling due within one year 8 1,261,617 1,242,485
NET CURRENT LIABILITIES (348,809 ) (644,754 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,958

620,468

CREDITORS
Amounts falling due after more than one
year

9

(143,334

)

(179,999

)

PROVISIONS FOR LIABILITIES 11 (10,843 ) (10,936 )
NET ASSETS 659,781 429,533

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 659,681 429,433
SHAREHOLDERS' FUNDS 659,781 429,533

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:



S Osman - Director


CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Charing Oast Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10207856

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings and equipment - 25% on reducing balance

CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company continues with the support of it's immediate and ultimate parent company Charing Care Limited which will not allow any of it's creditors to suffer as a result of the Directors decision to allow the company to continue to trade under the circumstances.

Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2020 - 31 ) .

CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. AUDITORS' REMUNERATION
2021 2020
£    £   
Fees payable to the Company's auditors for the audit of the Company's
financial statements

5,760

5,520

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 580,000
AMORTISATION
At 1 January 2021 502,663
Amortisation for year 77,333
At 31 December 2021 579,996
NET BOOK VALUE
At 31 December 2021 4
At 31 December 2020 77,337

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and
property equipment Totals
£    £    £   
COST
At 1 January 2021 1,231,692 140,534 1,372,226
Additions - 18,534 18,534
At 31 December 2021 1,231,692 159,068 1,390,760
DEPRECIATION
At 1 January 2021 101,362 82,979 184,341
Charge for year 24,634 19,022 43,656
At 31 December 2021 125,996 102,001 227,997
NET BOOK VALUE
At 31 December 2021 1,105,696 57,067 1,162,763
At 31 December 2020 1,130,330 57,555 1,187,885

CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 7,189 10,174
Amounts owed by connected undertakings 100,000 100,000
Other debtors 3,940 1,834
111,129 112,008

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 10) 40,000 20,001
Trade creditors 11,375 7,177
Amounts owed to group undertakings 1,070,000 1,070,000
Taxation and social security 50,914 61,827
Other creditors 89,328 83,480
1,261,617 1,242,485

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans (see note 10) 143,334 179,999

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 19,989

10. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 40,000 20,001

Amounts falling due between one and two years:
Bank loans - 1-2 years 40,000 40,002

Amounts falling due between two and five years:
Bank loans - 2-5 years 103,334 120,008

CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


10. LOANS - continued
2021 2020
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal - 19,989

The Coronavirus Business Interruption Loan Scheme (CBILS) loan of £183,334 (2020: £200,000) is repayable over the period until 2026. Repayments began 12 months after drawdown of the facility.

The rate of interest payable on the debt is 1.95% per annum over the Bank Base Rate.

Under the Coronavirus Business Interruption Loan Scheme, interest due during the first 12 months after drawdown of the facility was payable by the UK Government.

11. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 10,843 10,936

Deferred
tax
£   
Balance at 1 January 2021 10,936
Provided during year (93 )
Balance at 31 December 2021 10,843

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 January 2021 429,433
Profit for the year 230,248
At 31 December 2021 659,681

CHARING OAST LIMITED (REGISTERED NUMBER: 10207856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)
for and on behalf of Klein Evangelou

15. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2021 2020
£    £   
Amounts owed to Group Undertakings (1,070,000 ) (1,070,000 )
Amounts owed by Connected Undertakings 100,000 -


2021 2020
£    £   
Amounts written off amounts owed by Group Undertakings - 3,530
Management services charged by Group Undertakings 25,656 8,886
Contribution to Self Investment Personal Pension 40,000 -


Related Party Relationship:

Group Undertakings:
Charing Care Limited
Charing Healthcare Limited
Charing Gardens Limited

Connected Undertakings:
CHC Assets Limited

Connected Undertakings
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

Self Investment Personal Pension (SIPP)
The company contributed £20,000 each (2020: £Nil) for the director, S Osman and C E Osman to a self invested personal pension scheme. The annual contributions payable are charged to the profit and loss account.

16. POST BALANCE SHEET EVENTS

COVID-19 and its effects on the business represent a non-adjusting post balance sheet event.

17. CONTROLLING PARTY

The immediate and ultimate parent undertaking is Charing Care Limited, which prepares group financial
statements. The registered office of Charing Care Limited is 368 Forest Road, London, E17 5JF.