Company registration number 06918654 (England and Wales)
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 20 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
COMPANY INFORMATION
Directors
A Taylor
(Appointed 20 January 2023)
V Goodhall
(Appointed 20 January 2023)
Company number
06918654
Registered office
C/o Caremark
Bank House
The Paddock
Wilmslow Road
Handforth
SK9 3HQ
Accountants
M J Goldman (Chartered Accountants)
Hollinwood Business Centre
Albert Street
Oldham
Lancashire
OL8 3QL
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
BALANCE SHEET
AS AT
20 JANUARY 2023
20 January 2023
- 1 -
2023
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,350
4,445
Current assets
Debtors
5
44,722
470,402
Cash at bank and in hand
49,030
7,400
93,752
477,802
Creditors: amounts falling due within one year
6
(100,385)
(48,280)
Net current (liabilities)/assets
(6,633)
429,522
Total assets less current liabilities
(2,283)
433,967
Creditors: amounts falling due after more than one year
7
(28,700)
(46,667)
Provisions for liabilities
(826)
(844)
Net (liabilities)/assets
(31,809)
386,456
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
(32,809)
385,456
Total equity
(31,809)
386,456
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 period ended 20 January 2023 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 period 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.
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
BALANCE SHEET (CONTINUED)
AS AT
20 JANUARY 2023
20 January 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 October 2023 and are signed on its behalf by:
A Taylor
Director
Company Registration No. 06918654
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 20 JANUARY 2023
- 3 -
1
Accounting policies
Company information
Mars Cheshire Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Caremark, Bank House, The Paddock, Wilmslow Road, Handforth, SK9 3HQ.
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, expect for modification to a fair value basis where specified in the accounting policies set out below.
1.2
Reporting period
[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]
1.3
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.
Revenue is recognised at the point where domiciliary care services have been provided.
1.4
Intangible fixed assets other than goodwill
Rights acquired under a franchise agreement are capitalised, classified as an asset on the balance sheer and amortised on a straight line basis over their estimated useful; economic life.
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:
Franchise Fee
Over the life of the lease
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:
Office Equipment
15% on straight line method
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.
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 20 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
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.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic Financial assets, which include debtors and cash, together with basic financial liabilities, including creditors, are initially recognised at transaction cost and not amortised as they are either receivable or payable within one year.
Creditors payable after one year constitutes a commercial business loan with a market rate of interest being applied. This is recognised in full.
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.
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.
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 20 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.9
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.
1.10
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.12
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
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2021
Number
Number
Total
26
25
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 20 JANUARY 2023
- 6 -
3
Intangible fixed assets
Franchise Fee
£
Cost
At 30 November 2021 and 20 January 2023
34,825
Amortisation and impairment
At 30 November 2021 and 20 January 2023
34,825
Carrying amount
At 20 January 2023
At 29 November 2021
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 November 2021
9,637
Additions
1,236
At 20 January 2023
10,873
Depreciation and impairment
At 30 November 2021
5,192
Depreciation charged in the period
1,331
At 20 January 2023
6,523
Carrying amount
At 20 January 2023
4,350
At 29 November 2021
4,445
5
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
5,606
15,663
Amounts owed by group undertakings
15,084
450,389
Other debtors
24,032
4,350
44,722
470,402
MARS CHESHIRE LIMITED
TRADING AS CAREMARK (CHESHIRE NORTH EAST)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 20 JANUARY 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2021
£
£
Bank loans
10,000
10,000
Taxation and social security
11,702
31,930
Other creditors
78,683
6,350
100,385
48,280
7
Creditors: amounts falling due after more than one year
2023
2021
£
£
Bank loans and overdrafts
28,700
46,667
8
Called up share capital
2023
2021
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary Shares of £1 each
1,000
1,000
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2021
£
£
3,712
8,486