Registered number
06029074
Inglewood Residential Home limited
Filleted Accounts
30 April 2023
Inglewood Residential Home limited
Registered number: 06029074
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 67,347 101,122
Tangible assets 4 682,351 698,124
749,698 799,246
Current assets
Debtors 5 52,039 43,414
Cash at bank and in hand 8,108 12,981
60,147 56,395
Creditors: amounts falling due within one year 6 (58,605) (169,342)
Net current assets/(liabilities) 1,542 (112,947)
Total assets less current liabilities 751,240 686,299
Creditors: amounts falling due after more than one year 7 (335,319) (334,772)
Provisions for liabilities (219) -
Net assets 415,702 351,527
Capital and reserves
Called up share capital 100 100
Profit and loss account 415,602 351,427
Shareholders' funds 415,702 351,527
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.
B Bhandal
Director
Approved by the board on 8 April 2024
Inglewood Residential Home limited
Notes to the Accounts
for the year ended 30 April 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,which excludes customer refunds and trade discounts, represents the invoiced value of services supplied,and is recognised as the relevant services are delivered.Revenue is deferred to the extent it is invoiced in advance of the associated services being delivered.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years straight line
Plant and machinery 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 24 24
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 168,672
At 30 April 2023 168,672
Amortisation
At 1 May 2022 67,550
Provided during the year 33,775
At 30 April 2023 101,325
Net book value
At 30 April 2023 67,347
At 30 April 2022 101,122
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2022 688,432 136,878 825,310
At 30 April 2023 688,432 136,878 825,310
Depreciation
At 1 May 2022 22,030 105,156 127,186
Charge for the year 11,015 4,758 15,773
At 30 April 2023 33,045 109,914 142,959
Net book value
At 30 April 2023 655,387 26,964 682,351
At 30 April 2022 666,402 31,722 698,124
5 Debtors 2023 2022
£ £
Trade debtors 43,470 35,780
Other debtors 8,569 7,634
52,039 43,414
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 12,551
Trade creditors 685 -
Taxation and social security costs 14,418 60,386
Other creditors 43,502 96,405
58,605 169,342
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 335,319 334,772
8 Other information
Inglewood Residential Home limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Cornwell Close
Tipton
West Midlands
DY4 8TU
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