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COMPANY REGISTRATION NUMBER: 10800654
Hampton (Midland Care) Limited
Filleted Financial Statements
For the year ended
31 December 2022
Hampton (Midland Care) Limited
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
146,229
191,705
Current assets
Debtors
6
330,240
374,644
Cash at bank and in hand
71,858
58,017
---------
---------
402,098
432,661
Creditors: amounts falling due within one year
7
1,726,137
1,686,425
------------
------------
Net current liabilities
1,324,039
1,253,764
------------
------------
Total assets less current liabilities
( 1,177,810)
( 1,062,059)
Provisions
30,738
47,926
------------
------------
Net liabilities
( 1,208,548)
( 1,109,985)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,208,648)
( 1,110,085)
------------
------------
Shareholders deficit
( 1,208,548)
( 1,109,985)
------------
------------
These 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 statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
K U S Sehmi
Director
Company registration number: 10800654
Hampton (Midland Care) Limited
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 369 Wellingborough Road, Northampton, NN1 4EU.
2. Statement of compliance
These 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.
Going concern
The company has net liabilities at the statement of financial position date. Support is available by other group companies, who have indicated that they will support the company for the foreseeable future. The directors, having considered the above, continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% straight line
Equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 74 (2021: 40 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2022
18,305
463,795
560
482,660
Additions
24,650
2,875
27,525
--------
---------
-------
---------
At 31 December 2022
18,305
488,445
3,435
510,185
--------
---------
-------
---------
Depreciation
At 1 January 2022
12,013
278,649
293
290,955
Charge for the year
1,573
70,944
484
73,001
--------
---------
-------
---------
At 31 December 2022
13,586
349,593
777
363,956
--------
---------
-------
---------
Carrying amount
At 31 December 2022
4,719
138,852
2,658
146,229
--------
---------
-------
---------
At 31 December 2021
6,292
185,146
267
191,705
--------
---------
-------
---------
6. Debtors
2022
2021
£
£
Trade debtors
65,773
40,781
Amounts owed by group undertakings and undertakings in which the company has a participating interest
144,271
253,284
Other debtors
120,196
80,579
---------
---------
330,240
374,644
---------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
95,085
120,080
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,420,949
1,416,106
Corporation tax
38,610
Social security and other taxes
31,946
33,817
Other creditors
139,547
116,422
------------
------------
1,726,137
1,686,425
------------
------------
Bank loans and overdrafts were secured against the assets to which they relate. During the year the group refinanced and as part of this the bank overdraft was repaid.
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2022
2021
£
£
Not later than 1 year
338,000
338,000
Later than 1 year and not later than 5 years
1,352,000
1,352,000
Later than 5 years
4,997,770
5,335,770
------------
------------
6,687,770
7,025,770
------------
------------
9. Contingencies
The company has provided cross guarantees for certain other group companies.
10. Summary audit opinion
The auditor's report for the year dated 30 September 2023 was unqualified .
The senior statutory auditor was Jonathan Day , for and on behalf of Streets Audit LLP .
11. Related party transactions
Exemption is taken from disclosing group related party transactions as set out in FRS 102 section 1A.
12. Controlling party
The company is a wholly owned subsidiary of Hampton (Midland) Limited, a company registered in England and Wales. The ultimate controlling party is Rochmills (Holdings) Limited, a company registered in England and Wales. Rochmills (Holdings) Limited prepare group consolidated financial statements. The address of the registered office is Burlington House, 369 Wellingborough Road, Northampton, England, NN1 4EU. The ultimate controlling party is J S Sehmi.