261 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 52,327 15,697 5,232 20,929 31,398 36,630 xbrli:pure xbrli:shares iso4217:GBP 11637799 2022-11-01 2023-10-31 11637799 2023-10-31 11637799 2022-10-31 11637799 2021-11-01 2022-10-31 11637799 2022-10-31 11637799 2021-10-31 11637799 core:NetGoodwill 2022-11-01 2023-10-31 11637799 core:MotorVehicles 2022-11-01 2023-10-31 11637799 bus:Director1 2022-11-01 2023-10-31 11637799 core:NetGoodwill 2022-10-31 11637799 core:NetGoodwill 2023-10-31 11637799 core:MotorVehicles 2022-10-31 11637799 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 11637799 core:MotorVehicles 2023-10-31 11637799 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11637799 core:WithinOneYear 2023-10-31 11637799 core:WithinOneYear 2022-10-31 11637799 core:AfterOneYear 2023-10-31 11637799 core:AfterOneYear 2022-10-31 11637799 core:ShareCapital 2023-10-31 11637799 core:ShareCapital 2022-10-31 11637799 core:RetainedEarningsAccumulatedLosses 2023-10-31 11637799 core:RetainedEarningsAccumulatedLosses 2022-10-31 11637799 core:NetGoodwill 2022-10-31 11637799 core:MotorVehicles 2022-10-31 11637799 bus:Director1 2022-10-31 11637799 bus:Director1 2023-10-31 11637799 bus:Director1 2021-10-31 11637799 bus:Director1 2022-10-31 11637799 bus:Director1 2021-11-01 2022-10-31 11637799 bus:SmallEntities 2022-11-01 2023-10-31 11637799 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11637799 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11637799 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11637799 bus:FullAccounts 2022-11-01 2023-10-31 11637799 core:OfficeEquipment 2022-11-01 2023-10-31 11637799 core:OfficeEquipment 2022-10-31 11637799 core:OfficeEquipment 2023-10-31
COMPANY REGISTRATION NUMBER: 11637799
ANNICARE NORTH LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2023
ANNICARE NORTH LTD
STATEMENT OF FINANCIAL POSITION
31 October 2023
2023
2022
Note
£
£
FIXED ASSETS
Intangible assets
5
31,398
36,630
Tangible assets
6
365,456
75,400
---------
---------
396,854
112,030
CURRENT ASSETS
Debtors
7
527,231
663,544
Cash at bank and in hand
144,756
251,150
---------
---------
671,987
914,694
CREDITORS: amounts falling due within one year
8
757,615
861,224
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 85,628)
53,470
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
311,226
165,500
CREDITORS: amounts falling due after more than one year
9
19,908
29,923
---------
---------
NET ASSETS
291,318
135,577
---------
---------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
291,317
135,576
---------
---------
SHAREHOLDERS FUNDS
291,318
135,577
---------
---------
These 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 statement of income and retained earnings 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.
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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ANNICARE NORTH LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
Mrs A S Nash
Director
Company registration number: 11637799
ANNICARE NORTH LTD
NOTES TO THE 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 22a The Forum, North Hykeham, Lincoln, LN6 8HW.
2. STATEMENT OF COMPLIANCE
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 261 (2022: 324 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
52,327
--------
Amortisation
At 1 November 2022
15,697
Charge for the year
5,232
--------
At 31 October 2023
20,929
--------
Carrying amount
At 31 October 2023
31,398
--------
At 31 October 2022
36,630
--------
6. TANGIBLE ASSETS
Freehold property
Motor vehicles
Equipment
Total
£
£
£
£
Cost or valuation
At 1 November 2022
41,833
73,343
115,176
Additions
155,420
47,995
54,860
258,275
Revaluations
69,580
69,580
---------
--------
---------
---------
At 31 October 2023
225,000
89,828
128,203
443,031
---------
--------
---------
---------
Depreciation
At 1 November 2022
16,699
23,077
39,776
Charge for the year
18,282
19,517
37,799
---------
--------
---------
---------
At 31 October 2023
34,981
42,594
77,575
---------
--------
---------
---------
Carrying amount
At 31 October 2023
225,000
54,847
85,609
365,456
---------
--------
---------
---------
At 31 October 2022
25,134
50,266
75,400
---------
--------
---------
---------
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. An independent market valuation of the property valued it at £225,000 at the year end.
7. DEBTORS
2023
2022
£
£
Trade debtors
389,224
553,246
Amounts owed by group undertakings and undertakings in which the company has a participating interest
47,786
110,298
Other debtors
90,221
---------
---------
527,231
663,544
---------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,015
9,768
Corporation tax
23,890
56,021
Social security and other taxes
136,797
171,396
Bibby Factoring
348,732
343,296
Other creditors
238,181
280,743
---------
---------
757,615
861,224
---------
---------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,908
29,923
--------
--------
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs A S Nash
( 1,086)
305
( 781)
-------
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs A S Nash
( 26,063)
24,977
( 1,086)
--------
--------
-------