Registered number
10549906
THE GABLES CARE HOME LTD
Filleted Accounts
31 July 2023
THE GABLES CARE HOME LTD
Registered number: 10549906
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 182,000 195,000
Current assets
Debtors 5 113,773 109,622
Cash at bank and in hand 24,767 9,519
138,540 119,141
Creditors: amounts falling due within one year 6 (28,072) (17,405)
Net current assets 110,468 101,736
Total assets less current liabilities 292,468 296,736
Creditors: amounts falling due after more than one year 7 (28,797) (38,465)
Net assets 263,671 258,271
Capital and reserves
Called up share capital 1 1
Profit and loss account 263,670 258,270
Shareholders' funds 263,671 258,271
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.
Mrs S Manzoor
Director
Approved by the board on 27 January 2024
THE GABLES CARE HOME LTD
Notes to the Accounts
for the year ended 31 July 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 19 19
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 260,000
At 31 July 2023 260,000
Amortisation
At 1 August 2022 65,000
Provided during the year 13,000
At 31 July 2023 78,000
Net book value
At 31 July 2023 182,000
At 31 July 2022 195,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 4,378
At 31 July 2023 4,378
Depreciation
At 1 August 2022 4,378
At 31 July 2023 4,378
Net book value
At 31 July 2023 -
5 Debtors 2023 2022
£ £
Other debtors 113,773 109,622
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 28,072 17,405
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,797 38,465
8 Other information
THE GABLES CARE HOME LTD is a private company limited by shares and incorporated in England. Its registered office is:
651a Mauldeth Road West
Chorlton
Manchester
M21 7SA
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