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REGISTERED NUMBER: 10842062 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

2SK CARE HOMES LTD

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


2SK CARE HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: S J Wiles
M G Wiles





REGISTERED OFFICE: 4 Office Village
Forder Way
Cygnet Park
Peterborough
PE7 8GX





REGISTERED NUMBER: 10842062 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,346 26,469
Tangible assets 5 87,389 122,206
108,735 148,675

CURRENT ASSETS
Debtors 6 5,509 2,912
Cash at bank and in hand 93,171 24,599
98,680 27,511
CREDITORS
Amounts falling due within one year 7 150,112 147,767
NET CURRENT LIABILITIES (51,432 ) (120,256 )
TOTAL ASSETS LESS CURRENT LIABILITIES 57,303 28,419

PROVISIONS FOR LIABILITIES 9 13,827 20,137
NET ASSETS 43,476 8,282

CAPITAL AND RESERVES
Called up share capital 10 130 130
Retained earnings 11 43,346 8,152
SHAREHOLDERS' FUNDS 43,476 8,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:





M G Wiles - Director


2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

2SK Care Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Equipment - 20% on cost

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. 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.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 27 ) .

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 51,231
AMORTISATION
At 1 December 2022 24,762
Amortisation for year 5,123
At 30 November 2023 29,885
NET BOOK VALUE
At 30 November 2023 21,346
At 30 November 2022 26,469

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1 December 2022 273,160 23,652 296,812
Additions 5,673 9,995 15,668
Disposals (1,886 ) (4,832 ) (6,718 )
At 30 November 2023 276,947 28,815 305,762
DEPRECIATION
At 1 December 2022 163,129 11,477 174,606
Charge for year 41,542 5,492 47,034
Eliminated on disposal (327 ) (2,940 ) (3,267 )
At 30 November 2023 204,344 14,029 218,373
NET BOOK VALUE
At 30 November 2023 72,603 14,786 87,389
At 30 November 2022 110,031 12,175 122,206

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,509 2,912

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 90,667 117,867
Trade creditors 34 -
Corporation tax 49,725 4,018
Social security and other taxes 6,226 4,447
Other creditors - 800
Pension - 309
Directors' current accounts 520 17,554
Accrued expenses 2,940 2,772
150,112 147,767

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 90,667 117,867

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 13,827 20,137

Deferred
tax
£   
Balance at 1 December 2022 20,137
Provided during year (6,310 )
Balance at 30 November 2023 13,827

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary GBP1 Shares £1 100 100
10 A Ordinary GBP1 Shares £1 10 10
10 B Ordinary GBP1 Shares £1 10 10
10 C Ordinary GBP1 Shares £1 10 10
130 130

2SK CARE HOMES LTD (REGISTERED NUMBER: 10842062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


11. RESERVES
Retained
earnings
£   

At 1 December 2022 8,152
Profit for the year 173,681
Dividends (138,487 )
At 30 November 2023 43,346

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end, the company owed the director £520(2022 £17,554). This loan is unsecured, interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £108,460 (2022 - £4,000) were paid to the directors .

14. ULTIMATE CONTROLLING PARTY

The controlling party is Martin Wiles and Samantha Wiles.