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Registered Number: 06412797
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 October 2023

for

TERRANCE HOUSE CARE LIMITED

You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

31 October 2023



....................................................
Broughton & Co. Limited
9 Second Avenue
Worthing
West Sussex
BN14 9NX
25 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 4 126,995    156,020 
Tangible fixed assets 5 1,828,430    1,767,605 
1,955,425    1,923,625 
Current assets      
Debtors 604,272    542,988 
Cash at bank and in hand 1,326,150    1,505,019 
1,930,422    2,048,007 
Creditors: amount falling due within one year (493,703)   (513,100)
Net current assets 1,436,719    1,534,907 
 
Total assets less current liabilities 3,392,144    3,458,532 
Creditors: amount falling due after more than one year (235,298)   (587,659)
Provisions for liabilities (42,425)   (20,708)
Net assets 3,114,421    2,850,165 
 

Capital and reserves
     
Called up share capital 6 2    2 
Reserves 7 60,080    60,080 
Profit and loss account 3,054,339    2,790,083 
Shareholders' funds 3,114,421    2,850,165 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 21 July 2024 and were signed by:


-------------------------------
Suat Yilmaz
Director
2
General Information
Terrance House Care Limited is a private company, limited by shares, registered in England and Wales, registration number 06412797, registration address 29 Hoades Wood Road, Sturry, Canterbury, Kent, CT2 0LY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of care services supplied by the company.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 53 (2022 : 53).
3.

Indebtedness

Repayable between one and five years £104,802 (2022: £279,565)
Repayable in five years or more £200,347 (2022: £308,529)


The bank loan, the aggregate total of which amounts to £269,439 (2022: £355,060), is repayable in annual instalments of £86,400 (2022: £97,400) commencing May 2012.



4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 580,500    580,500 
Additions  
Disposals  
At 31 October 2023 580,500    580,500 
Amortisation
At 01 November 2022 424,480    424,480 
Charge for year 29,025    29,025 
On disposals  
At 31 October 2023 453,505    453,505 
Net book values
At 31 October 2023 126,995    126,995 
At 31 October 2022 156,020    156,020 


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 November 2022 1,908,648    33,940    461,835    2,404,423 
Additions 23,184    24,138    84,524    131,846 
Disposals      
At 31 October 2023 1,931,832    58,078    546,359    2,536,269 
Depreciation
At 01 November 2022 270,247    20,134    346,437    636,818 
Charge for year 21,553    9,485    39,983    71,021 
On disposals      
At 31 October 2023 291,800    29,619    386,420    707,839 
Net book values
Closing balance as at 31 October 2023 1,640,032    28,459    159,939    1,828,430 
Opening balance as at 01 November 2022 1,638,401    13,806    115,398    1,767,605 


6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Ordinary shares of £1.00 each  
 

7.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Bedstone Limited(12,709)(50,602)
Grenham Bay Care Limited(21,598)(80,923)
Minara Properties Limited(17,081)(18,483)(1,335)(1,111)
Belgrave Living Limited363,534 338,733 
Director pension contributions(46,000)(50,000)



During the year the company paid rent of £8,400 (2022: £6,300) and corporate costs of £8,681 (2022: £12,183) to Minara Properties Limited, a company in which Mr S Yilmaz, together with members of his close family, is materially interested as a shareholder. The transactions were made on a normal trading basis.

During the year the company paid £46,000 (2022: £50,000) towards director pensions which is included within staff pension costs.
3