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Registration number: 04381116

Exeter Disability Centre Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2023

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Company Information

Directors

Mrs P Denning

Mr D Denning

Company secretary

Mrs P Denning

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

53,168

70,090

Current assets

 

Stocks

5

262,798

256,631

Debtors

6

54,967

31,758

Cash at bank and in hand

 

114,011

127,703

 

431,776

416,092

Creditors: Amounts falling due within one year

7

(211,526)

(258,172)

Net current assets

 

220,250

157,920

Total assets less current liabilities

 

273,418

228,010

Creditors: Amounts falling due after more than one year

7

(21,673)

(30,541)

Provisions for liabilities

(8,531)

(5,768)

Net assets

 

243,214

191,701

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

242,214

190,701

Total equity

 

243,214

191,701

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Balance Sheet as at 30 April 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 November 2023 and signed on its behalf by:
 

.........................................
Mr D Denning
Director

 

Exeter Disability Centre Limited
(Registration number: 04381116)

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short Leasehold Property Improvements

Straight Line over the period of the lease.

Plant and Machinery

10% Straight Line

Fixtures and Fittings

10% Straight Line

Motor Vehicles

20% Straight Line

Office Equipment

15% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 15).

4

Tangible assets

Freehold land and buildings
£

Fixtures, fittings & equipment
£

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 May 2022

23,629

65,140

157,346

28,854

274,969

Additions

-

3,121

33,842

150

37,113

Disposals

-

-

(110,087)

-

(110,087)

At 30 April 2023

23,629

68,261

81,101

29,004

201,995

Depreciation

At 1 May 2022

15,521

47,515

116,949

24,894

204,879

Charge for the year

945

5,072

15,964

852

22,833

Eliminated on disposal

-

-

(78,885)

-

(78,885)

At 30 April 2023

16,466

52,587

54,028

25,746

148,827

Carrying amount

At 30 April 2023

7,163

15,674

27,073

3,258

53,168

At 30 April 2022

8,108

17,625

40,397

3,960

70,090

5

Stocks

2023
£

2022
£

Other stocks

262,798

256,631

6

Debtors

2023
£

2022
£

Trade debtors

39,683

10,166

Other debtors

7,087

11,234

Prepayments and accrued income

8,197

10,358

Total current trade and other debtors

54,967

31,758

 

Exeter Disability Centre Limited
(Registration number: 04381116)

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

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,809

10,649

Trade creditors

 

104,912

122,245

Taxation and social security

 

28,472

13,535

Other creditors

 

61,044

106,544

Accrued expenses

 

7,289

5,199

 

211,526

258,172

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

21,673

30,541

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,809

10,649

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,673

30,541

 

Exeter Disability Centre Limited
(Registration number: 04381116)

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

9

Related party transactions

Transactions with directors

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mrs P Denning

Interest free loan

-

2,168

(2,168)

-

         
       

 

2022

At 1 May 2021
£

Advances to director
£

Repayments by director
£

At 30 April 2022
£

Mr D Denning

Interest free loan

-

317

(317)

-

         
       

Mrs P Denning

Interest free loan

-

8,357

(8,357)

-