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COMPANY REGISTRATION NUMBER: 07742373
Villa Care Ltd
Filleted Unaudited Financial Statements
31 October 2022
Villa Care Ltd
Statement of Financial Position
31 October 2022
2022
2021
Note
£
£
£
Fixed assets
Intangible assets
5
700,000
700,000
Tangible assets
6
1,706,991
1,740,400
------------
------------
2,406,991
2,440,400
Current assets
Debtors
7
213,467
296,454
Cash at bank and in hand
100,543
136,900
---------
---------
314,010
433,354
Creditors: amounts falling due within one year
8
( 117,334)
265,588
---------
---------
Net current assets
431,344
167,766
------------
------------
Total assets less current liabilities
2,838,335
2,608,166
Creditors: amounts falling due after more than one year
9
1,496,316
1,451,297
------------
------------
Net assets
1,342,019
1,156,869
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
1,341,019
1,155,869
------------
------------
Shareholders funds
1,342,019
1,156,869
------------
------------
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.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Villa Care Ltd
Statement of Financial Position (continued)
31 October 2022
These financial statements were approved by the board of directors and authorised for issue on 23 October 2023 , and are signed on behalf of the board by:
Mr H Taylor
Director
Company registration number: 07742373
Villa Care Ltd
Notes to the Financial Statements
Year ended 31 October 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 10 Park Avenue, Roundhay, Leeds,
West Yorkshire, LS8 2JH, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
33% reducing balance
Motor vehicles
-
33% reducing balance
Equipment
-
33 % reducing balance
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 and the performance 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. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 78 (2021: 78 ).
5. Intangible assets
Goodwill
£
Cost
At 1 November 2021 and 31 October 2022
700,000
---------
Amortisation
At 1 November 2021 and 31 October 2022
---------
Carrying amount
At 31 October 2022
700,000
---------
At 31 October 2021
700,000
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Nov 2021
1,694,240
49,343
72,279
14,889
25,329
1,856,080
Disposals
( 14,889)
( 14,889)
------------
--------
--------
--------
--------
------------
At 31 Oct 2022
1,694,240
49,343
72,279
25,329
1,841,191
------------
--------
--------
--------
--------
------------
Depreciation
At 1 Nov 2021
33,730
50,416
14,491
19,365
118,002
Charge for the year
9,010
17,653
4,026
30,689
Disposals
( 14,491)
( 14,491)
------------
--------
--------
--------
--------
------------
At 31 Oct 2022
42,740
68,069
23,391
134,200
------------
--------
--------
--------
--------
------------
Carrying amount
At 31 Oct 2022
1,694,240
6,603
4,210
1,938
1,706,991
------------
--------
--------
--------
--------
------------
At 31 Oct 2021
1,694,240
15,613
21,863
398
5,964
1,738,078
------------
--------
--------
--------
--------
------------
7. Debtors
2022
2021
£
£
Trade debtors
213,467
296,454
---------
---------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
10,740
156,562
Trade creditors
46,104
32,083
Corporation tax
79,430
95,640
Social security and other taxes
113,483
156,319
Other creditors
( 367,091)
( 175,016)
---------
---------
( 117,334)
265,588
---------
---------
9. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
1,489,859
1,444,997
Pension liability
6,457
6,300
------------
------------
1,496,316
1,451,297
------------
------------
10. Related party transactions
The company was under the control of Ms Louise Taylor throughout the current and previous year. Ms Louise Taylor is the managing director and majority shareholder.