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COMPANY REGISTRATION NUMBER: 02485867
Intacare Limited
Filleted Unaudited Abridged Financial Statements
31 March 2023
Intacare Limited
Abridged Financial Statements
Year Ended 31 March 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Intacare Limited
Abridged Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
1,599,308
1,616,274
Current Assets
Stocks
500
500
Debtors
2,608,700
2,100,140
Cash at bank and in hand
648,510
1,366,529
------------
------------
3,257,710
3,467,169
Creditors: amounts falling due within one year
288,729
394,945
------------
------------
Net Current Assets
2,968,981
3,072,224
------------
------------
Total Assets Less Current Liabilities
4,568,289
4,688,498
Creditors: amounts falling due after more than one year
191,211
Provisions
2,902
1,228
------------
------------
Net Assets
4,565,387
4,496,059
------------
------------
Capital and Reserves
Called up share capital
7
200
200
Profit and loss account
4,565,187
4,495,859
------------
------------
Shareholders Funds
4,565,387
4,496,059
------------
------------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Intacare Limited
Abridged Statement of Financial Position (continued)
31 March 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
Mr V Buldawoo
Director
Company registration number: 02485867
Intacare Limited
Notes to the Abridged Financial Statements
Year Ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Springwell Barn, 43 Barnwell Lane, Cromford, Matlock, DE4 3QY.
2. Statement of compliance
These abridged 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business.
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 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:
Freehold property
-
2% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government and local authority 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.
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 abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 104 (2022: 103 ).
5. Tangible assets
£
Cost
At 1 April 2022
2,494,509
Additions
41,922
------------
At 31 March 2023
2,536,431
------------
Depreciation
At 1 April 2022
878,235
Charge for the year
58,888
------------
At 31 March 2023
937,123
------------
Carrying amount
At 31 March 2023
1,599,308
------------
At 31 March 2022
1,616,274
------------
6. Secured liabilities
The aggregate amount of secured liabilities, secured on the assets of the company at the year end were £NIL (2022: £266,690).
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
200
200
200
200
----
----
----
----
8. Related party transactions
The company has taken advantage of exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group members. During the period the company provided and received short term loans from related parties. The balance outstanding due to and from related parties at the period end are as follows:
2023 2022
£ £
Amounts owed from entites holding a controlling interest 2,541,706 2,023,768
Outstanding balances with entities are unsecured, interest free and repayable on demand.
9. Controlling party
The company is a wholly owned subsidiary of Bellrose Care Limited , a company incorporated and registered in England and Wales. The registered office address is Springwell Barn, 43 Barnwell Lane, Cromford, Matlock, DE4 3QY and copy accounts can be found at Companies House.