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Registered number: 03522826
THE ELMS CARE CENTRE LIMITED
Financial Statements
For the Period 1 November 2022 to 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03522826
31 December 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 35,250 40,500
Tangible Assets 5 1,362,963 1,156,325
Investments 6 1,273,650 882,350
2,671,863 2,079,175
CURRENT ASSETS
Stocks 7 5,000 4,500
Debtors 8 85,548 74,624
Cash at bank and in hand 36,317 108,953
126,865 188,077
Creditors: Amounts Falling Due Within One Year 9 (348,710 ) (338,779 )
NET CURRENT ASSETS (LIABILITIES) (221,845 ) (150,702 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,450,018 1,928,473
Creditors: Amounts Falling Due After More Than One Year 10 (850,534 ) (873,759 )
NET ASSETS 1,599,484 1,054,714
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 203,465 -
Profit and Loss Account 1,395,919 1,054,614
SHAREHOLDERS' FUNDS 1,599,484 1,054,714
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Page 2
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Uday Kalangi
Director
07/03/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
THE ELMS CARE CENTRE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03522826 . The registered office is 108 Grenfell Avenue, Saltash, Cornwall, PL12 4JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Straight Line
Computer Equipment 33% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was:
31 December 2023 31 October 2022
Office and administration 58 51
58 51
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 90,000
As at 31 December 2023 90,000
Amortisation
As at 1 November 2022 49,500
Provided during the period 5,250
As at 31 December 2023 54,750
Net Book Value
As at 31 December 2023 35,250
As at 1 November 2022 40,500
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 November 2022 1,121,535 235,958 15,350 37,294
Additions - 12,453 - 116
Revaluation 203,465 - - -
As at 31 December 2023 1,325,000 248,411 15,350 37,410
Depreciation
As at 1 November 2022 - 211,729 8,602 33,481
Provided during the period - 8,144 1,574 1,596
As at 31 December 2023 - 219,873 10,176 35,077
Net Book Value
As at 31 December 2023 1,325,000 28,538 5,174 2,333
As at 1 November 2022 1,121,535 24,229 6,748 3,813
Computer Equipment Total
£ £
Cost or Valuation
As at 1 November 2022 1,096 1,411,233
Additions 2,863 15,432
Revaluation - 203,465
As at 31 December 2023 3,959 1,630,130
...CONTINUED
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Depreciation
As at 1 November 2022 1,096 254,908
Provided during the period 945 12,259
As at 31 December 2023 2,041 267,167
Net Book Value
As at 31 December 2023 1,918 1,362,963
As at 1 November 2022 - 1,156,325
6. Investments
Unlisted
£
Cost
As at 1 November 2022 882,350
Additions 391,300
As at 31 December 2023 1,273,650
Provision
As at 1 November 2022 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1,273,650
As at 1 November 2022 882,350
The company holds share capital of IHYBRID LIMITED a company incorporated in the England and Wales. The principal activity of the company is, Business and domestic software development.
7. Stocks
31 December 2023 31 October 2022
£ £
Materials 5,000 4,500
8. Debtors
31 December 2023 31 October 2022
£ £
Due within one year
Trade debtors 75,948 36,462
Prepayments and accrued income - 37,037
Other debtors 9,600 1,125
85,548 74,624
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9. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 October 2022
£ £
Trade creditors - 69,646
Bank loans and overdrafts - 1,105
Corporation tax 125,804 68,504
Other taxes and social security 64,616 62,654
Net wages 23,785 23,482
Other creditors - 284
Bank Loan (Current liabilities - creditors < 1 year) 83,283 83,309
Pensions payable 3,804 2,795
Accruals and deferred income 47,418 27,000
348,710 338,779
10. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 October 2022
£ £
Bank loans 850,534 873,759
850,534 873,759
11. Share Capital
31 December 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Revaluation Reserve
£
Surplus on revaluation 203,465
As at 31 December 2023 203,465
13. Related Party Transactions
During the Period dividends of £112,800.27 were paid to "Aplomb Care Ltd".
As at the balance sheet date, the company owed from Aplomb Care Limited loan of £1,000 (2022: £1,000). Uday Kalangi is also the director of the Aplomb Care Limited.
As at the balance sheet date, the company owed from Maiva Corporation Limited loan of £8,600 (2022: Nil). Uday Kalangi is also the director of the Maiva Corporation Limited
14. Ultimate Controlling Party
The company's ultimate controlling party is Aplomb Care Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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