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Elliots Hill Care Limited

Financial Statements for the Year Ended 30 April 2023






Elliots Hill Care Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: S Clarke
S J Clarke





REGISTERED OFFICE: First Floor (Suite 19b)
Cedar Court
Milford Haven
Pembrokeshire
SA73 3LS





REGISTERED NUMBER: 07068518 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Elliots Hill Care Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elliots Hill Care Limited for the year ended 30 April 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Elliots Hill Care Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elliots Hill Care Limited and state those matters that we have agreed to state to the Board of Directors of Elliots Hill Care Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elliots Hill Care Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Elliots Hill Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elliots Hill Care Limited. You consider that Elliots Hill Care Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elliots Hill Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


8 September 2023

Elliots Hill Care Limited (Registered number: 07068518)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 176,115 182,375
Tangible assets 4 1,145,005 925,471
1,321,120 1,107,846

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 5 1,629,448 808,228
Cash at bank and in hand 236,403 736,205
1,867,851 1,546,433
CREDITORS
Amounts falling due within one year 6 402,045 521,634
NET CURRENT ASSETS 1,465,806 1,024,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,786,926

2,132,645

CREDITORS
Amounts falling due after more than
one year

7

(1,047,276

)

(390,955

)

PROVISIONS FOR DEFERRED TAX (51,100 ) (22,900 )
NET ASSETS 1,688,550 1,718,790

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,688,450 1,718,690
SHAREHOLDERS' FUNDS 1,688,550 1,718,790

Elliots Hill Care Limited (Registered number: 07068518)

Balance Sheet - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by:





S Clarke - Director


Elliots Hill Care Limited (Registered number: 07068518)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the sale of care services, measured as the fair value of consideration received or receivable in the period to which the service is delivered.

Goodwill
Goodwill is being amortised over its estimated useful life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Long leasehold - Over the lease term of 10 years
Plant and machinery - 20% reducing balance
Office equipment - 20% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Elliots Hill Care Limited (Registered number: 07068518)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


1. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs
The company makes employer pension contributions on behalf of the directors and the staff, into their personal pension schemes.

Grant income
Grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 158 (2022 - 171 ) .

Elliots Hill Care Limited (Registered number: 07068518)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 May 2022 420,000 18,639 438,639
Additions - 20,737 20,737
At 30 April 2023 420,000 39,376 459,376
AMORTISATION
At 1 May 2022 252,000 4,264 256,264
Amortisation for year 21,000 5,997 26,997
At 30 April 2023 273,000 10,261 283,261
NET BOOK VALUE
At 30 April 2023 147,000 29,115 176,115
At 30 April 2022 168,000 14,375 182,375

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and Office
property leasehold machinery equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 1,024,823 - 114,274 147,949 1,287,046
Additions 44,931 176,984 - 39,537 261,452
At 30 April 2023 1,069,754 176,984 114,274 187,486 1,548,498
DEPRECIATION
At 1 May 2022 183,304 - 91,214 87,057 361,575
Charge for year 17,192 5,203 4,612 14,911 41,918
At 30 April 2023 200,496 5,203 95,826 101,968 403,493
NET BOOK VALUE
At 30 April 2023 869,258 171,781 18,448 85,518 1,145,005
At 30 April 2022 841,519 - 23,060 60,892 925,471

Elliots Hill Care Limited (Registered number: 07068518)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 335,813 765,292
Amounts owed by group undertakings 585,653 24,480
Other debtors & prepayments 55,084 18,456
976,550 808,228

Amounts falling due after more than one year:
Amounts owed by group undertakings 652,898 -

Aggregate amounts 1,629,448 808,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 119,242 80,085
Trade creditors 39,970 74,206
Taxes & social security costs 234,648 354,549
Other creditors & accruals 8,185 12,794
402,045 521,634

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 1,047,276 390,955

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 123,606 51,838

Elliots Hill Care Limited (Registered number: 07068518)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,166,518 471,040

The bank loans are secured by a fixed and floating charge over the assets of the company.

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total financial commitments of £295,025 (2022 - £52,283).