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COMPANY REGISTRATION NUMBER: 04430064
Property Care (Complete Maintenance) Limited
Filleted Unaudited Abridged Financial Statements
31 October 2023
Property Care (Complete Maintenance) Limited
Balance Sheet
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
160,001
155,958
Current assets
Stocks
17,800
9,000
Debtors
363,688
366,163
Cash at bank and in hand
194,779
218,931
---------
---------
576,267
594,094
Creditors: amounts falling due within one year
295,110
242,707
---------
---------
Net current assets
281,157
351,387
---------
---------
Total assets less current liabilities
441,158
507,345
Creditors: amounts falling due after more than one year
253,751
285,106
---------
---------
Net assets
187,407
222,239
---------
---------
Capital and reserves
Called up share capital
8
8
Profit and loss account
187,399
222,231
---------
---------
Shareholders funds
187,407
222,239
---------
---------
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the year ending 31 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 abridged financial statements for the year 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the balance sheet for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Property Care (Complete Maintenance) Limited
Balance Sheet (continued)
31 October 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 17 January 2024 , and are signed on behalf of the board by:
Mr D Hare
Mr N D Clinkard
Director
Director
Mr C Kerr
Director
Company registration number: 04430064
Property Care (Complete Maintenance) Limited
Notes to the Abridged Financial Statements
Year ended 31 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 120 Brize Norton Road, Minster Lovell, Oxfordshire, OX29 0SQ.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year, exclusive of Value Added Tax.
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:
Goodwill
-
10% 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:
Leasehold property improvements
-
33% straight line
Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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 stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
The company operates a defined contribution pension scheme for the directors and some employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 8 ).
5. Intangible assets
£
Cost
At 1 November 2022 and 31 October 2023
90,000
--------
Amortisation
At 1 November 2022 and 31 October 2023
90,000
--------
Carrying amount
At 31 October 2023
--------
At 31 October 2022
--------
6. Tangible assets
£
Cost
At 1 November 2022
544,983
Additions
55,858
Disposals
( 39,061)
---------
At 31 October 2023
561,780
---------
Depreciation
At 1 November 2022
389,025
Charge for the year
49,584
Disposals
( 36,830)
---------
At 31 October 2023
401,779
---------
Carrying amount
At 31 October 2023
160,001
---------
At 31 October 2022
155,958
---------
7. Controlling party
The directors consider the immediate and ultimate parent company to be Property Care Holdings Ltd, a company registered in England and Wales.