Somewhere House Limited 05676420 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is the provision of alcohol and drugs rehabilitation for individuals Digita Accounts Production Advanced 6.30.9574.0 true 05676420 2021-04-01 2022-03-31 05676420 2022-03-31 05676420 bus:OrdinaryShareClass1 2022-03-31 05676420 core:CurrentFinancialInstruments 2022-03-31 05676420 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 05676420 core:Non-currentFinancialInstruments 2022-03-31 05676420 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 05676420 core:FurnitureFittingsToolsEquipment 2022-03-31 05676420 core:LandBuildings 2022-03-31 05676420 core:MotorVehicles 2022-03-31 05676420 core:OtherPropertyPlantEquipment 2022-03-31 05676420 bus:SmallEntities 2021-04-01 2022-03-31 05676420 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 05676420 bus:FullAccounts 2021-04-01 2022-03-31 05676420 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 05676420 bus:RegisteredOffice 2021-04-01 2022-03-31 05676420 bus:CompanySecretaryDirector1 2021-04-01 2022-03-31 05676420 bus:Director1 2021-04-01 2022-03-31 05676420 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 05676420 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 05676420 core:ComputerEquipment 2021-04-01 2022-03-31 05676420 core:FurnitureFittings 2021-04-01 2022-03-31 05676420 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 05676420 core:LandBuildings 2021-04-01 2022-03-31 05676420 core:LeaseholdImprovements 2021-04-01 2022-03-31 05676420 core:MotorVehicles 2021-04-01 2022-03-31 05676420 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 05676420 core:PlantMachinery 2021-04-01 2022-03-31 05676420 countries:England 2021-04-01 2022-03-31 05676420 2021-03-31 05676420 core:FurnitureFittingsToolsEquipment 2021-03-31 05676420 core:LandBuildings 2021-03-31 05676420 core:MotorVehicles 2021-03-31 05676420 core:OtherPropertyPlantEquipment 2021-03-31 05676420 2020-04-01 2021-03-31 05676420 2021-03-31 05676420 bus:OrdinaryShareClass1 2021-03-31 05676420 core:CurrentFinancialInstruments 2021-03-31 05676420 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 05676420 core:Non-currentFinancialInstruments 2021-03-31 05676420 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 05676420 core:FurnitureFittingsToolsEquipment 2021-03-31 05676420 core:LandBuildings 2021-03-31 05676420 core:MotorVehicles 2021-03-31 05676420 core:OtherPropertyPlantEquipment 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05676420

Somewhere House Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Somewhere House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Somewhere House Limited

Company Information

Directors

Mr David Clarke

Mrs Angela Elaine Clarke

Company secretary

Mrs Angela Elaine Clarke

Registered office

68 Berrow Road
Burnham-On-Sea
Somerset
TA8 2EZ

Accountants

BJP Finance Ltd
Chartered Accountants
34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL

 

Somewhere House Limited

(Registration number: 05676420)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,004,170

993,580

Current assets

 

Stocks

5

500

500

Debtors

6

108,706

67,530

Cash at bank and in hand

 

98,088

5,928

 

207,294

73,958

Creditors: Amounts falling due within one year

7

(204,667)

(176,239)

Net current assets/(liabilities)

 

2,627

(102,281)

Total assets less current liabilities

 

1,006,797

891,299

Creditors: Amounts falling due after more than one year

7

(267,869)

(341,131)

Provisions for liabilities

(10,311)

(9,375)

Net assets

 

728,617

540,793

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

728,517

540,693

Shareholders' funds

 

728,617

540,793

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 September 2022 and signed on its behalf by:
 

 

Somewhere House Limited

(Registration number: 05676420)
Balance Sheet as at 31 March 2022

.........................................
Mrs Angela Elaine Clarke
Company secretary and director

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
68 Berrow Road
Burnham-On-Sea
Somerset
TA8 2EZ

These financial statements were authorised for issue by the Board on 7 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

33.33% Straight line

Plant & Machinery

25% Reducing balance

Fixtures & Fittings

25% Reducing balance

Motor Vehicles

25% Reducing balance

Freehold Property

No depreciation

Improvements to Property

No depreciation

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2021 - 11).

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

946,224

161,949

45,245

30,813

1,184,231

Additions

-

20,473

7,900

4,662

33,035

Disposals

-

-

(2,500)

-

(2,500)

At 31 March 2022

946,224

182,422

50,645

35,475

1,214,766

Depreciation

At 1 April 2021

-

131,912

36,337

22,402

190,651

Charge for the year

-

14,724

4,119

3,268

22,111

Eliminated on disposal

-

-

(2,166)

-

(2,166)

At 31 March 2022

-

146,636

38,290

25,670

210,596

Carrying amount

At 31 March 2022

946,224

35,786

12,355

9,805

1,004,170

At 31 March 2021

946,224

30,037

8,908

8,411

993,580

Included within the net book value of land and buildings above is £946,224 (2021 - £946,224) in respect of freehold land and buildings.
 

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

5

Stocks

2022
£

2021
£

Other inventories

500

500

6

Debtors

2022
£

2021
£

Trade debtors

95,889

66,001

Prepayments

12,817

1,529

108,706

67,530

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

56,424

102,959

Trade creditors

 

46,580

21,797

Taxation and social security

 

62,388

37,712

Accruals and deferred income

 

29,455

5,260

Other creditors

 

9,820

8,511

 

204,667

176,239

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

267,869

341,131

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

147,868

341,131

Other borrowings

120,001

-

267,869

341,131

2022
£

2021
£

Current loans and borrowings

Bank borrowings

18,920

65,488

Other borrowings

37,504

37,471

56,424

102,959

 

Somewhere House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

10

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £540 (2021 - £540) per ordinary share

 

54,000

 

54,000

         

11

Related party transactions

During the year, the company let properties owned by the Directors for use as move on properties for clients. The total value of rent charged was £24,719 (2021:£28,172).

At the Balance Sheet date, the Directors had made loans to the Company totalling £37,504 (2021: £37,471). The loan is non-interest bearing and repayable on demand to the Directors and as such is disclosed within other borrowings due within one year in the balance sheet.

During the year, the Company received a loan of £120,001 from the father of the Director Mr David Clarke. The loan carries an interest rate of 2% and no fixed repayment date so is disclsoed within creditors due in more than 1 year in the balance sheet.

During the prior accounting period, the Company bought a 58% share in their registered office 68 Berrow Road, Burnham on Sea, Somerset, TA8 2EZ from the Directors. The Company paid a consideration of £377,000 with associated stamp duty and legal fees on completion of £8,854.

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

70,000

69,999

Contributions paid to money purchase schemes

76,600

80,000

146,600

149,999