Autonomy Plus Limited 10791578 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the provision of residential care for young people with learning disabilities. Digita Accounts Production Advanced 6.30.9574.0 true true 10791578 2022-09-01 2023-08-31 10791578 2023-08-31 10791578 core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 10791578 core:CurrentFinancialInstruments 2023-08-31 10791578 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10791578 core:Non-currentFinancialInstruments 2023-08-31 10791578 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 10791578 core:Goodwill 2023-08-31 10791578 core:FurnitureFittingsToolsEquipment 2023-08-31 10791578 core:LandBuildings 2023-08-31 10791578 core:MotorVehicles 2023-08-31 10791578 bus:SmallEntities 2022-09-01 2023-08-31 10791578 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10791578 bus:FullAccounts 2022-09-01 2023-08-31 10791578 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 10791578 bus:RegisteredOffice 2022-09-01 2023-08-31 10791578 bus:CompanySecretary1 2022-09-01 2023-08-31 10791578 bus:Director2 2022-09-01 2023-08-31 10791578 bus:Director3 2022-09-01 2023-08-31 10791578 bus:Director5 2022-09-01 2023-08-31 10791578 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10791578 core:Goodwill 2022-09-01 2023-08-31 10791578 core:ComputerEquipment 2022-09-01 2023-08-31 10791578 core:FurnitureFittings 2022-09-01 2023-08-31 10791578 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 10791578 core:LandBuildings 2022-09-01 2023-08-31 10791578 core:MotorCars 2022-09-01 2023-08-31 10791578 core:MotorVehicles 2022-09-01 2023-08-31 10791578 countries:EnglandWales 2022-09-01 2023-08-31 10791578 2022-08-31 10791578 core:Goodwill 2022-08-31 10791578 core:FurnitureFittingsToolsEquipment 2022-08-31 10791578 core:LandBuildings 2022-08-31 10791578 core:MotorVehicles 2022-08-31 10791578 2021-09-01 2022-08-31 10791578 2022-08-31 10791578 core:AcceleratedTaxDepreciationDeferredTax 2022-08-31 10791578 core:CurrentFinancialInstruments 2022-08-31 10791578 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 10791578 core:Non-currentFinancialInstruments 2022-08-31 10791578 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 10791578 core:Goodwill 2022-08-31 10791578 core:FurnitureFittingsToolsEquipment 2022-08-31 10791578 core:LandBuildings 2022-08-31 10791578 core:MotorVehicles 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 10791578

Prepared for the registrar

Autonomy Plus Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Autonomy Plus Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Autonomy Plus Limited

Company Information

Directors

A C Dykes

L Jolliffe

N Faulkner-Elliot

Company secretary

M J Kerley

Registered office

67 Roundpond
Melksham
SN12 8EB

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Autonomy Plus Limited

(Registration number: 10791578)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

850

Tangible assets

5

777,581

789,683

 

777,581

790,533

Current assets

 

Debtors

6

276,039

267,164

Cash at bank and in hand

 

35,232

37,056

 

311,271

304,220

Creditors: Amounts falling due within one year

7

(128,870)

(117,365)

Net current assets

 

182,401

186,855

Total assets less current liabilities

 

959,982

977,388

Creditors: Amounts falling due after more than one year

7

(563,461)

(612,932)

Deferred tax liabilities

 

(2,410)

(2,410)

Net assets

 

394,111

362,046

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

394,101

362,036

Shareholders' funds

 

394,111

362,046

For the financial year ending 31 August 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.

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:
 


L Jolliffe
Director

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

 

1

General information

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

The address of its registered office is:
67 Roundpond
Melksham
SN12 8EB
England

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 and after eliminating sales within the company. 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.

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge 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.

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 statement of financial position 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

Freehold property

2% straight line

Fixtures and fittings

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% straight line

Goodwill

Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

 

4

Intangible assets

Goodwill
 £

Cost

At 1 September 2022

51,000

At 31 August 2023

51,000

Amortisation

At 1 September 2022

50,150

Amortisation charge

850

At 31 August 2023

51,000

Carrying amount

At 31 August 2023

-

At 31 August 2022

850

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

 

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 September 2022

823,290

53,212

18,850

895,352

Additions

-

639

6,700

7,339

Disposals

-

(1,837)

-

(1,837)

At 31 August 2023

823,290

52,014

25,550

900,854

Depreciation

At 1 September 2022

56,373

30,446

18,850

105,669

Charge for the year

11,466

5,583

1,117

18,166

Eliminated on disposal

-

(562)

-

(562)

At 31 August 2023

67,839

35,467

19,967

123,273

Carrying amount

At 31 August 2023

755,451

16,547

5,583

777,581

At 31 August 2022

766,916

22,767

-

789,683

 

6

Debtors

Note

2023
 £

2022
 £

Trade debtors

 

14,719

-

Amounts owed by group undertakings

249,233

258,054

Other debtors

 

38

-

Prepayments

 

12,049

9,110

   

276,039

267,164

 

7

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

9

53,284

57,097

Trade creditors

 

17,805

16,176

Social security and other taxes

 

10,699

6,660

Other creditors

 

5,273

4,062

Accrued expenses

 

21,414

18,416

Corporation tax liability

20,395

14,954

 

128,870

117,365

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

563,461

612,932

 

Autonomy Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

 

8

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Capital allowances in excess of depreciation

2,410

2022

Liability
£

Capital allowances in excess of depreciation

2,410

 

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

53,284

57,097

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

563,461

612,932

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Autonomy Care Group Limited, incorporated in England and Wales.