Registered number
02576521
Resicare Limited
Report and Accounts
30 May 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Resicare Limited
Registered number: 02576521
Balance Sheet
as at 30 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 145,743 171,951
Investments 5 2 2
145,746 171,954
Current assets
Stocks 7,615 6,630
Debtors 6 1,126,157 1,041,688
Cash at bank and in hand 15,736 11,817
1,149,508 1,060,135
Creditors: amounts falling due within one year 7 (499,747) (459,541)
Net current assets 649,761 600,594
Total assets less current liabilities 795,507 772,548
Creditors: amounts falling due after more than one year 8 (271,772) (483,091)
Provisions for liabilities (1,672) (4,925)
Net assets 522,063 284,532
Capital and reserves
Called up share capital 100 100
Profit and loss account 521,963 284,432
Shareholders' funds 522,063 284,532
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Metcalfe
Director
Approved by the board on 8 August 2023
Resicare Limited
Notes to the Accounts
for the year ended 30 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 31 May 2022 25,250
At 30 May 2023 25,250
Amortisation
At 31 May 2022 25,249
At 30 May 2023 25,249
Net book value
At 30 May 2023 1
At 30 May 2022 1
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 31 May 2022 867,537 3,200 870,737
At 30 May 2023 867,537 3,200 870,737
Depreciation
At 31 May 2022 695,586 3,200 698,786
Charge for the year 26,208 - 26,208
At 30 May 2023 721,794 3,200 724,994
Net book value
At 30 May 2023 145,743 - 145,743
At 30 May 2022 171,951 - 171,951
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 31 May 2022 2
At 30 May 2023 2
The company holds 20% or more of the share capital of the following companies:
Company Shares held %
Class Holding
Dignity Homes Limited Ordinary 100
Resipyaroll Limited Ordinary 100
6 Debtors 2023 2022
£ £
Trade debtors 525,115 364,058
Amounts owed by group undertakings and undertakings in which the company has a participating interest 591,843 665,982
Other debtors 9,199 11,648
1,126,157 1,041,688
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,307 -
Trade creditors 124,886 173,738
Amounts owed to group undertakings and undertakings in which the company has a participating interest 78,922 42,798
Corporation tax 132,883 63,681
Other creditors 161,749 179,324
499,747 459,541
8 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 76,679
Other creditors 271,772 406,412
271,772 483,091
9 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
10 Controlling party
The ultimate holding company is UK Caring Retirement Homes Ltd, a company registered in the UK.
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