REGISTERED NUMBER: |
OAKHAVEN CARE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
OAKHAVEN CARE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OAKHAVEN CARE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Highland House |
Mayflower Close |
Chandler's Ford |
Eastleigh |
Hampshire |
SO53 4AR |
BANKERS: |
102 High Street |
Lymington |
Hampshire |
SO41 9ZP |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
BALANCE SHEET - continued |
31 MARCH 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Oakhaven Care Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. |
The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. |
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
Turnover |
Turnover represents net invoiced sales, exclusive of VAT, and is attributable to the principal activity of the company. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Distribution of profits |
The company has a policy of paying gift aid of an amount up to the taxable profits each year to The Oakhaven Trust, its ultimate parent undertaking. In line with recent guidance following FRED 68, the Company treats this donation as a distribution of reserves if it is paid pre year end. The Board are responsible for formally agreeing to the total amount to be distributed each year. |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial assets |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Financial liabilities |
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Equity instruments |
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
Going concern |
At the balance sheet date, the company has accumulated reserves of £73,998 (2022: £261,870). While the directors expect the company to remain profitable in the future, the parent company, The Oakhaven Trust, has indicated that it will provide financial support to the company should the need arise. The directors are therefore confident of the ability to settle liabilities as they fall due and confident that it is appropriate to prepare the financial statements on a going concern basis. |
Coronavirus Job Retention Scheme |
The accrual model has been used to recognise the grant on a systematic basis over the periods in which the related staff costs are incurred. |
Business Support Grant Funds |
The accrual model has been used to recognise the grant when it is received or becomes receivable, as there are no future related costs or performance conditions. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
OAKHAVEN CARE LIMITED (REGISTERED NUMBER: 08409572) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | ULTIMATE CONTROLLING PARTY |
The Oakhaven Trust, a registered charity (number 900215) and company limited by guarantee (number 2435177), is the ultimate parent, for which consolidated accounts including Oakhaven Care Limited are prepared. These accounts are available from its registered office, Pennington Chase, Lower Pennington Lane, Lymington, Hampshire, SO41 8ZZ. |