Company registration number 04423576 (England and Wales)
APS CARE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
APS CARE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
APS CARE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
340,810
395,903
Tangible assets
4
2,044,534
3,400,927
2,385,344
3,796,830
Current assets
Debtors
5
2,108,273
1,128,922
Cash at bank and in hand
218,722
165,507
2,326,995
1,294,429
Creditors: amounts falling due within one year
6
(466,314)
(591,077)
Net current assets
1,860,681
703,352
Total assets less current liabilities
4,246,025
4,500,182
Creditors: amounts falling due after more than one year
7
(917,163)
(906,851)
Provisions for liabilities
(28,166)
(31,895)
Net assets
3,300,696
3,561,436
Capital and reserves
Called up share capital
6
6
Revaluation reserve
8
936,000
Profit and loss reserves
3,300,690
2,625,430
Total equity
3,300,696
3,561,436
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her 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.
APS CARE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 September 2023
Mrs A Hillier
Director
Company Registration No. 04423576
APS CARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
APS Care Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Union Suite, The Union Building, 51-59 Rose Lane, Norwich, Norfolk, England, NR1 1BY.
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 have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation 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:
Development costs
- useful over 5 years
1.5
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
- 0% straight line
Leasehold improvements
- 0% straight line
Plant and equipment
- 15% reducing balance
Fixtures and fittings
- 15% reducing balance
1.6
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). 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.
APS CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
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
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.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.10
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.
APS CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
127
127
3
Intangible fixed assets
Other
£
Cost
At 1 January 2022
1,389,494
Additions
278,506
At 31 December 2022
1,668,000
Amortisation and impairment
At 1 January 2022
993,590
Amortisation charged for the year
333,600
At 31 December 2022
1,327,190
Carrying amount
At 31 December 2022
340,810
At 31 December 2021
395,903
APS CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
3,233,055
483,358
3,716,413
Additions
585,000
45,819
630,819
Disposals
(1,950,000)
(1,950,000)
At 31 December 2022
1,868,055
529,177
2,397,232
Depreciation and impairment
At 1 January 2022
315,489
315,489
Depreciation charged in the year
37,209
37,209
At 31 December 2022
352,698
352,698
Carrying amount
At 31 December 2022
1,868,055
176,479
2,044,534
At 31 December 2021
3,233,056
167,871
3,400,927
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
239,343
157,951
Other debtors
1,868,930
970,971
2,108,273
1,128,922
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
28,881
53,550
Trade creditors
127,055
28,987
Corporation tax
166,118
182,374
Other taxation and social security
32,121
171,802
Other creditors
112,139
154,364
466,314
591,077
APS CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
519,517
534,851
Other creditors
397,646
372,000
917,163
906,851
8
Revaluation reserve
2022
2021
£
£
At the beginning of the year
936,000
936,000
Other movements
(936,000)
-
At the end of the year
936,000