Company Registration No. 04509942 (England and Wales)
PRIMARY HOMECARE LIMITED
Unaudited accounts
for the year ended 31 March 2023
PRIMARY HOMECARE LIMITED
Unaudited accounts
Contents
PRIMARY HOMECARE LIMITED
Company Information
for the year ended 31 March 2023
Directors
P A Dorai
A M Fairburn
D Fairburn
Company Number
04509942 (England and Wales)
Registered Office
UNIT 5A, LOWER FARM PARK NORWICH ROAD
BARHAM
IPSWICH
SUFFOLK
IP6 0NU
UNITED KINGDOM
PRIMARY HOMECARE LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
29,065
30,787
Cash at bank and in hand
107,256
252,889
Creditors: amounts falling due within one year
(116,161)
(157,988)
Net current assets
90,483
193,139
Net assets
119,548
223,926
Called up share capital
100
100
Profit and loss account
119,448
223,826
Shareholders' funds
119,548
223,926
For the year ending 31 March 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by
P A Dorai
Director
Company Registration No. 04509942
PRIMARY HOMECARE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
PRIMARY HOMECARE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04509942. The registered office is UNIT 5A, LOWER FARM PARK NORWICH ROAD, BARHAM, IPSWICH, SUFFOLK, IP6 0NU, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Operating leases - the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Interest income is recognised in the profit or loss using the effective interest method.
Finance costs are charged to the profit or loss over the terms of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeded of the associated capital instrument.
PRIMARY HOMECARE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable within penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible know amounts of cash with insignificant risk of change in value.
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in ordinary shares.
Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders.
PRIMARY HOMECARE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
1,996
44,308
24,531
40,421
111,256
Additions
-
6,950
-
3,684
10,634
Disposals
-
(2,900)
-
-
(2,900)
At 31 March 2023
1,996
48,358
24,531
44,105
118,990
At 1 April 2022
749
31,066
20,079
28,575
80,469
Charge for the year
312
4,288
1,113
3,885
9,598
On disposals
-
(142)
-
-
(142)
At 31 March 2023
1,061
35,212
21,192
32,460
89,925
At 31 March 2023
935
13,146
3,339
11,645
29,065
At 31 March 2022
1,247
13,242
4,452
11,846
30,787
Amounts falling due within one year
Trade debtors
46,521
31,116
Amounts due from group undertakings etc.
-
5,771
Accrued income and prepayments
44,050
50,372
Other debtors
8,817
10,979
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
7,360
2,516
Taxes and social security
13,035
39,370
Other creditors
4,660
10,154
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently managed fund. The pension cost represents the contributions payable by the Company to the fund and amounted to £16,793 (2022: £25,326). Total contributions totalling £2,602 (2022: £3,516) were payable to the fund at the year end and are included within other creditors.
PRIMARY HOMECARE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
8
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
840
840
Later than one year and not later than five years
1,680
2,520
9
Transactions with related parties
At the year end, the Directors owed the Company £3,137 (2022: £10,551). This is included within other debtors at the reporting date.
10
Average number of employees
During the year the average number of employees was 80 (2022: 110).