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Registration number: 08987490

Seagry Care Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Seagry Care Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Seagry Care Limited

Company Information

Director

Mr Stephen John Clarke

Registered office

93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

Accountants

Matthews Hanton Limited
Chartered Certified Accountants
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

Seagry Care Limited

(Registration number: 08987490)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

86,539

94,289

Tangible assets

5

462,957

474,501

 

549,496

568,790

Current assets

 

Debtors

6

9,666

6,910

Cash at bank and in hand

 

534,818

576,849

 

544,484

583,759

Creditors: Amounts falling due within one year

7

(215,435)

(288,253)

Net current assets

 

329,049

295,506

Total assets less current liabilities

 

878,545

864,296

Creditors: Amounts falling due after more than one year

7

(278,587)

(298,380)

Provisions for liabilities

(22,535)

(15,192)

Net assets

 

577,423

550,724

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

577,422

550,723

Shareholders' funds

 

577,423

550,724

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 March 2024
 

 

Seagry Care Limited

(Registration number: 08987490)
Balance Sheet as at 31 August 2023

.........................................
Mr Stephen John Clarke
Director

 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW
England

These financial statements were authorised for issue by the director on 27 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% Straight Line

Furniture and fittings

20% Straight Line

Office Equipment

10% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% Straight Line

Patents

Nil (purchased at minimal value)

 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2022 - 23).

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 September 2022

155,000

3

155,003

At 31 August 2023

155,000

3

155,003

Amortisation

At 1 September 2022

60,714

-

60,714

Amortisation charge

7,750

-

7,750

At 31 August 2023

68,464

-

68,464

Carrying amount

At 31 August 2023

86,536

3

86,539

At 31 August 2022

94,286

3

94,289

 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

540,705

64,567

605,272

At 31 August 2023

540,705

64,567

605,272

Depreciation

At 1 September 2022

71,753

59,018

130,771

Charge for the year

9,600

1,944

11,544

At 31 August 2023

81,353

60,962

142,315

Carrying amount

At 31 August 2023

459,352

3,605

462,957

At 31 August 2022

468,952

5,549

474,501

Included within the net book value of land and buildings above is £459,352 (2022 - £468,952) in respect of freehold land and buildings.
 

6

Debtors

Current

2023
£

2022
£

Trade debtors

9,666

6,910

 

9,666

6,910

 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

20,949

22,105

Trade creditors

 

1,827

19,512

Taxation and social security

 

32,867

35,938

Accruals and deferred income

 

2,100

1,100

Other creditors

 

157,692

209,598

 

215,435

288,253

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £20,949 (2022 - £22,105).
The loan is secured against the freehold land and buildings held by the company.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

278,587

298,380

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £278,587 (2022 - £298,380).
The loan is secured against the freehold land and buildings held by the company.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £28,380.00 (2022 - £28,380.00) per ordinary share

 

24,490

 

28,380

         
 

Seagry Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

11,000

9,698

11

Parent and ultimate parent undertaking

The ultimate controlling party is S Clarke.