1 August 2022 v2023.25.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0truexbrli:purexbrli:sharesiso4217:GBP111441512022-08-012023-07-31111441512023-07-31111441512022-07-3111144151core:WithinOneYear2023-07-3111144151core:WithinOneYear2022-07-3111144151core:AfterOneYear2023-07-3111144151core:AfterOneYear2022-07-3111144151core:ShareCapital2023-07-3111144151core:ShareCapital2022-07-3111144151core:RevaluationReserve2023-07-3111144151core:RevaluationReserve2022-07-3111144151core:RetainedEarningsAccumulatedLosses2023-07-3111144151core:RetainedEarningsAccumulatedLosses2022-07-3111144151bus:Director12022-08-012023-07-3111144151bus:RegisteredOffice2022-08-012023-07-31111441512021-08-012022-07-3111144151core:LandBuildings2022-08-0111144151core:PlantMachinery2022-08-01111441512022-08-0111144151core:PlantMachinery2022-08-012023-07-3111144151core:LandBuildings2023-07-3111144151core:PlantMachinery2023-07-3111144151core:LandBuildings2022-07-3111144151core:PlantMachinery2022-07-311114415112022-08-012023-07-3111144151countries:EnglandWales2022-08-012023-07-3111144151bus:AuditExemptWithAccountantsReport2022-08-012023-07-3111144151bus:PrivateLimitedCompanyLtd2022-08-012023-07-3111144151bus:SmallEntities2022-08-012023-07-3111144151bus:FullAccounts2022-08-012023-07-31
Company registration number:
11144151
Isle Of Wight Homecare Ltd
Unaudited Filleted Financial Statements for the year ended
31 July 2023
Isle Of Wight Homecare Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Isle Of Wight Homecare Ltd
Year ended
31 July 2023
As described on the statement of financial position, the Board of Directors of
Isle Of Wight Homecare Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 July 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Atkinson Accounts
Egerton House
55 Hoole Road
Chester
CH2 3NJ
United Kingdom
Isle Of Wight Homecare Ltd
Statement of Financial Position
31 July 2023
20232022
Note££
Fixed assets    
Tangible assets 5
688,694
 
664,012
 
Current assets    
Stocks
1,150
 
1,150
 
Debtors 6
59,120
 
58,052
 
Cash at bank and in hand
(9,690
)
25,191
 
50,580
 
84,393
 
Creditors: amounts falling due within one year 7
(52,578
)
(72,621
)
Net current (liabilities)/assets
(1,998
)
11,772
 
Total assets less current liabilities 686,696   675,784  
Creditors: amounts falling due after more than one year 8
(407,338
)
(454,481
)
Provisions for liabilities
(47,500
)
(47,500
)
Net assets
231,858
 
173,803
 
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
202,500
 
202,500
 
Profit and loss account
29,258
 
(28,797
)
Shareholders funds
231,858
 
173,803
 
For the year ending
31 July 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
1 November 2023
, and are signed on behalf of the board by:
A Huddleston
Director
Company registration number:
11144151
Isle Of Wight Homecare Ltd
Notes to the Financial Statements
Year ended
31 July 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Egerton House
,
55 Hoole Road
,
Chester
,
CH2 3NJ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

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 in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2022:
35
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 August 2022
620,000
 
67,344
 
687,344
 
Additions -  
35,606
 
35,606
 
At
31 July 2023
620,000
 
102,950
 
722,950
 
Depreciation      
At
1 August 2022
-  
23,332
 
23,332
 
Charge -  
10,924
 
10,924
 
At
31 July 2023
-  
34,256
 
34,256
 
Carrying amount      
At
31 July 2023
620,000
 
68,694
 
688,694
 
At 31 July 2022
620,000
 
44,012
 
664,012
 

6 Debtors

20232022
££
Trade debtors
45,000
 
45,000
 
Other debtors
14,120
 
13,052
 
59,120
 
58,052
 

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
17,418
 
20,306
 
Other creditors
35,160
 
52,315
 
52,578
 
72,621
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
417,450
 
464,224
 
Other creditors
(10,112
)
(9,743
)
407,338
 
454,481