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Registration number: 12120809

Service Plus Home Care Ltd

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 September 2023

 

Service Plus Home Care Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Service Plus Home Care Ltd

(Registration number: 12120809)
Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

56,658

36,585

Current assets

 

Stocks

5

11,405

8,000

Debtors

6

85,068

70,018

Cash at bank and in hand

 

-

21,460

 

96,473

99,478

Creditors: Amounts falling due within one year

7

(101,936)

(90,681)

Net current (liabilities)/assets

 

(5,463)

8,797

Total assets less current liabilities

 

51,195

45,382

Creditors: Amounts falling due after more than one year

7

(55,671)

(26,632)

Provisions for liabilities

(6,643)

(6,643)

Net (liabilities)/assets

 

(11,119)

12,107

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(11,219)

12,007

Shareholders' (deficit)/funds

 

(11,119)

12,107

For the financial year ending 30 September 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 her 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 19 April 2024
 

 

Service Plus Home Care Ltd

(Registration number: 12120809)
Statement of Financial Position as at 30 September 2023

.........................................
Mrs C A Brown
Director

 

Service Plus Home Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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: 153 Grosvenor Road, Aldershot, Hampshire, GU11 3EF. England.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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 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.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Tax

The tax expense for the period comprises 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.

 

Service Plus Home Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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 statement of financial position 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

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

 

Service Plus Home Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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 income statement 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 17 (2022 - 19).

 

Service Plus Home Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

-

63,385

63,385

Additions

1,259

44,820

46,079

Disposals

-

(14,095)

(14,095)

At 30 September 2023

1,259

94,110

95,369

Depreciation

At 1 October 2022

-

26,800

26,800

Charge for the year

315

18,573

18,888

Eliminated on disposal

-

(6,977)

(6,977)

At 30 September 2023

315

38,396

38,711

Carrying amount

At 30 September 2023

944

55,714

56,658

At 30 September 2022

-

36,585

36,585

5

Stocks

2023
£

2022
£

Other inventories

11,405

8,000

6

Debtors

2023
£

2022
£

Trade debtors

39,769

41,918

Other debtors

45,299

-

Accrued income

-

28,100

85,068

70,018

7

Creditors

Creditors: amounts falling due within one year

 

Service Plus Home Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Note

2023
£

2022
£

Bank loans and overdrafts

8

16,641

33,267

Trade creditors

 

56,680

30,650

Taxation and social security

 

25,629

22,421

Accruals and deferred income

 

1,516

2,200

Other creditors

 

1,470

2,143

 

101,936

90,681

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

8

55,671

26,632

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

17,365

26,632

Hire purchase contracts

38,306

-

55,671

26,632

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,077

10,644

Bank overdrafts

1,488

-

Hire purchase contracts

5,076

22,623

16,641

33,267

9

Related party transactions