REDCROFT CARE HOMES LTD

Company Registration Number:
SC392773 (Scotland)

Unaudited abridged accounts for the year ended 28 February 2023

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

REDCROFT CARE HOMES LTD

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Notes

REDCROFT CARE HOMES LTD

Balance sheet

As at 28 February 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 2,176,742 1,959,073
Total fixed assets: 2,176,742 1,959,073
Current assets
Debtors: 4 0 290,000
Cash at bank and in hand: 548,924 363,339
Total current assets: 548,924 653,339
Creditors: amounts falling due within one year: 5 (342,323) (466,422)
Net current assets (liabilities): 206,601 186,917
Total assets less current liabilities: 2,383,343 2,145,990
Creditors: amounts falling due after more than one year: 6 (646,669) (541,878)
Provision for liabilities: (1,693) (1,985)
Total net assets (liabilities): 1,734,981 1,602,127
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,734,881 1,602,027
Shareholders funds: 1,734,981 1,602,127

The notes form part of these financial statements

REDCROFT CARE HOMES LTD

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 November 2023
and signed on behalf of the board by:

Name: Mr Rajen Mawjee
Status: Director

The notes form part of these financial statements

REDCROFT CARE HOMES LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and servicesprovided in the normal course of business, and is shown net of VAT and other sales related taxes. The fairvalue of consideration takes into account trade discounts, settlement discounts and volume rebates.Revenue from service for the provision of professional services is recognised by reference to the stage ofcompletion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Thestage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staffrates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenueis recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases:Land and buildings Freehold 10% on straight lineFixtures, fittings & equipment 20% on straight lineComputer equipment 25% on straight line

Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value ofnet assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost lessaccumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite usefullife and is amortised on a systematic basis over its expected life, which is 10 years.

REDCROFT CARE HOMES LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

2. Employees

2023 2022
Average number of employees during the period 110 68

REDCROFT CARE HOMES LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible Assets

Total
Cost £
At 01 March 2022 2,019,692
Additions 221,917
At 28 February 2023 2,241,609
Depreciation
At 01 March 2022 60,619
Charge for year 4,248
At 28 February 2023 64,867
Net book value
At 28 February 2023 2,176,742
At 28 February 2022 1,959,073

REDCROFT CARE HOMES LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors

Trade debtors: £NIL (2022: £290,000)

REDCROFT CARE HOMES LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

Bank loans: £97,929 (2022: £112,475)Corporation tax: £55,241 (2022: £33,801)Other taxation and social security: £126,362 (2022: £179,439)Other creditors: £62,791 (2022: £140,707)

REDCROFT CARE HOMES LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts: £646,669 (2022: £541,878)