Registered number: 02153641 | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
Prepared By: | ||||||||
Frank Gartland Limited | ||||||||
6 Torland Road | ||||||||
Plymouth | ||||||||
PL3 5TS |
SMS Care Homes Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
G Scargill | ||||||||
REGISTERED OFFICE | ||||||||
Devon | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 02153641 | ||||||||
SOLICITORS | ||||||||
Curtis Solicitors, 87-89 Mutley Plain,Plymouth, Devon, PL4 6 | ||||||||
ACCOUNTANTS | ||||||||
Frank Gartland Limited | ||||||||
6 Torland Road | ||||||||
Plymouth | ||||||||
PL3 5TS |
SMS Care Homes Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/12/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
SMS Care Homes Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
423,699 | 552,433 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 385,769 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Share premium account | 10 | |||||||||
Profit and loss account | 349,063 | 466,760 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
SMS Care Homes Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. | ||||||||
No depreciation is provided on Freehold Land. | ||||||||
Land And Buildings | straight line2% | |||||||
Plant And Machinery | straight line20% | |||||||
Fixtures And Fittings | straight line20% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Goodwill | ||||||||
1e. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
SMS Care Homes Limited | ||||||||
2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/01/2023 | 185,778 | 185,778 | ||
At 31/12/2023 | 185,778 | 185,778 | ||
Depreciation | ||||
At 01/01/2023 | 185,778 | 185,778 | ||
At 31/12/2023 | 185,778 | 185,778 | ||
Net Book Amounts | ||||
At 31/12/2023 | ||||
3. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Plant and | Fixtures | ||||||||
Buildings | Machinery | and Fittings | Total | |||||||
£ | £ | £ | £ | |||||||
Cost | ||||||||||
At 01/01/2023 | 382,738 | 66,126 | 91,766 | 540,630 | ||||||
Additions | 20,422 | 5,132 | - | 25,554 | ||||||
At 31/12/2023 | 403,160 | 71,258 | 91,766 | 566,184 | ||||||
Depreciation | ||||||||||
At 01/01/2023 | 53,363 | 61,722 | 88,224 | 203,309 | ||||||
For the year | 4,718 | 2,791 | 1,594 | 9,103 | ||||||
At 31/12/2023 | 58,081 | 64,513 | 89,818 | 212,412 | ||||||
Net Book Amounts | ||||||||||
At 31/12/2023 | 353,772 | |||||||||
At 31/12/2022 | 337,321 | |||||||||
As regards the Land and buildings shown above the Directors estimate the Freehold Land element to be £167,252 (2022 £146,830). The land is not depreciated. | ||||||||||
4. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
SMS Care Homes Limited | ||||||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 658 | 7,739 | ||||||
Other debtors | 2,235 | 2,733 | ||||||
Prepayments | 16,113 | 15,000 | ||||||
Directors current account-GS | 112,279 | 102,032 | ||||||
Directors current account-SS | 97,595 | 101,998 | ||||||
228,880 | 229,502 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 21,450 | 10,600 | ||||||
VAT | 56,990 | 80,419 | ||||||
PAYE control | 8,329 | 9,262 | ||||||
Credit card | 3,696 | 10,311 | ||||||
Trade creditors | 37,092 | 39,270 | ||||||
Other creditors | 93 | - | ||||||
GS Pension scheme rent | - | 4,000 | ||||||
Accruals | 28,753 | 1,857 | ||||||
Deferred income | 9,965 | 10,945 | ||||||
166,368 | 166,664 | |||||||
7. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 24 | |||||
8. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 10,860 | 5,150 | ||||||
10,860 | 5,150 | |||||||
SMS Care Homes Limited | ||||||||
9. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
4 | 4 | |||||||
4 | 4 | |||||||
10. SHARE PREMIUM ACCOUNT | 2023 | 2022 | ||||
£ | £ | |||||
Share premium account | 251,176 | 251,176 |
11. OTHER FINANCIAL COMMITMENTS | ||||||||
At 31/12/2023 the company was committed to making the following payments under non-cancellable operating leases: | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Operating Leases which expire: | ||||||||
Within one year | 78,684 | 74,313 | ||||||
Within two to five years | 274,124 | 263,420 | ||||||
After 5 years | 145,000 | 205,000 | ||||||
12. CONTROLLING PARTY | ||||||||
Their is no ultimate controlling party. | ||||||||
13. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||