58 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 540 720 1,260 56 133 189 1,071 484 xbrli:pure xbrli:shares iso4217:GBP 04550126 2022-11-01 2023-10-29 04550126 2023-10-29 04550126 2022-10-31 04550126 2021-10-30 2022-10-31 04550126 2022-10-31 04550126 2021-10-29 04550126 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-10-29 04550126 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-29 04550126 core:PlantMachinery 2022-11-01 2023-10-29 04550126 core:FurnitureFittings 2022-11-01 2023-10-29 04550126 bus:Director3 2022-11-01 2023-10-29 04550126 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 04550126 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-29 04550126 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 04550126 core:LandBuildings core:ShortLeaseholdAssets 2022-10-31 04550126 core:PlantMachinery 2022-10-31 04550126 core:FurnitureFittings 2022-10-31 04550126 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-29 04550126 core:LandBuildings core:ShortLeaseholdAssets 2023-10-29 04550126 core:PlantMachinery 2023-10-29 04550126 core:FurnitureFittings 2023-10-29 04550126 core:WithinOneYear 2023-10-29 04550126 core:WithinOneYear 2022-10-31 04550126 core:ShareCapital 2023-10-29 04550126 core:ShareCapital 2022-10-31 04550126 core:RetainedEarningsAccumulatedLosses 2023-10-29 04550126 core:RetainedEarningsAccumulatedLosses 2022-10-31 04550126 core:BetweenOneFiveYears 2023-10-29 04550126 core:BetweenOneFiveYears 2022-10-31 04550126 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 04550126 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 04550126 core:LandBuildings core:ShortLeaseholdAssets 2022-10-31 04550126 core:PlantMachinery 2022-10-31 04550126 core:FurnitureFittings 2022-10-31 04550126 bus:SmallEntities 2022-11-01 2023-10-29 04550126 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-29 04550126 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-29 04550126 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-29 04550126 bus:FullAccounts 2022-11-01 2023-10-29 04550126 core:OfficeEquipment 2022-11-01 2023-10-29 04550126 core:OfficeEquipment 2022-10-31 04550126 core:OfficeEquipment 2023-10-29
COMPANY REGISTRATION NUMBER: 04550126
HMT Care Ltd
Filleted Unaudited Financial Statements
29 October 2023
HMT Care Ltd
Statement of Financial Position
29 October 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
1,071
484
Tangible assets
6
1,592,694
1,616,977
------------
------------
1,593,765
1,617,461
Current assets
Debtors
7
390,615
375,399
Cash at bank and in hand
1,001,778
716,060
------------
------------
1,392,393
1,091,459
Creditors: amounts falling due within one year
8
254,237
206,705
------------
------------
Net current assets
1,138,156
884,754
------------
------------
Total assets less current liabilities
2,731,921
2,502,215
Provisions
Taxation including deferred tax
10,166
19,810
Other provisions
10,000
5,000
--------
--------
20,166
24,810
------------
------------
Net assets
2,711,755
2,477,405
------------
------------
Capital and reserves
Called up share capital
200
200
Profit and loss account
2,711,555
2,477,205
------------
------------
Shareholders funds
2,711,755
2,477,405
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HMT Care Ltd
Statement of Financial Position (continued)
29 October 2023
These financial statements were approved by the board of directors and authorised for issue on 7 February 2024 , and are signed on behalf of the board by:
Mr PW Glenister
Director
Company registration number: 04550126
HMT Care Ltd
Notes to the Financial Statements
Period ended 29 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48 Albany Drive, Herne Bay, Kent, CT6 8PX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
5% straight line
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including tranction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 58 (2022: 56 ).
5. Intangible assets
Development costs
£
Cost
At 1 November 2022
540
Additions
720
-------
At 29 October 2023
1,260
-------
Amortisation
At 1 November 2022
56
Charge for the period
133
-------
At 29 October 2023
189
-------
Carrying amount
At 29 October 2023
1,071
-------
At 31 October 2022
484
-------
6. Tangible assets
Freehold property
Investment property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Nov 2022
1,884,630
368,964
31,131
129,864
8,898
2,423,487
Additions
4,324
464
27,913
32,701
------------
---------
--------
---------
--------
------------
At 29 Oct 2023
1,888,954
368,964
31,131
130,328
36,811
2,456,188
------------
---------
--------
---------
--------
------------
Depreciation
At 1 Nov 2022
682,270
23,348
97,841
3,051
806,510
Charge for the period
37,373
7,775
6,996
4,840
56,984
------------
---------
--------
---------
--------
------------
At 29 Oct 2023
719,643
31,123
104,837
7,891
863,494
------------
---------
--------
---------
--------
------------
Carrying amount
At 29 Oct 2023
1,169,311
368,964
8
25,491
28,920
1,592,694
------------
---------
--------
---------
--------
------------
At 31 Oct 2022
1,202,360
368,964
7,783
32,023
5,847
1,616,977
------------
---------
--------
---------
--------
------------
Included in tangible assets is investment property which is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
7. Debtors
2023
2022
£
£
Trade debtors
132,914
119,991
Other debtors
257,701
255,408
---------
---------
390,615
375,399
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
17,717
17,857
Corporation tax
88,131
59,983
Social security and other taxes
25,739
20,403
Other creditors
122,650
108,462
---------
---------
254,237
206,705
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
1,584
1,584
Later than 1 year and not later than 5 years
3,168
4,752
-------
-------
4,752
6,336
-------
-------
10. Related party transactions
Included in other debtors is a loan of £245,277 (2022: £243,444) to J&J Kare Limited, a company in which L Ironside has a controlling interest. Interest has been charged on this loan amounting to £13,976 (2022: £12,143)