REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
TAMLAGHT CARE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
TAMLAGHT CARE LTD |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 9 |
TAMLAGHT CARE LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Clarendon Road |
Clarendon Dock |
Belfast |
BT1 3BG |
SOLICITORS: |
38-42 Hill Street |
Belfast |
BT1 2LB |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
BALANCE SHEET |
31 JULY 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
BALANCE SHEET - continued |
31 JULY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | STATUTORY INFORMATION |
Tamlaght Care Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The company business address is 34 Larne Road, Carrickfergus. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the year end the company had net liabilities of £452,553 (2022: £367,307) and made trading losses in the year of £85,246 (2022: £77,927). |
The company is reliant on the continued support of its related party Salus (Tamlaght) Ltd, a company incorporated in Northern Ireland to ensure it can meet its liabilities as they fall due. |
The directors have a reasonable expectation that the support of the related party will be available for at least one year from the date of signing these financial statements. Consequently, the financial statements have been prepared on a going concern basis. The financial statements do not include any adjustments which would result if the support was withdrawn. |
Significant judgements and estimates |
In preparing these financial statements the directors have made the following judgements: |
Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general. |
The directors also consider the carrying value of goodwill and undertake a review for any indicators of impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general. |
In doing so a review of the amortisation and deprecation rates are undertaken to ensure there is sufficient evidence to support these and that the estimates remain reasonable. |
Consideration is also given to the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account are current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
2. | ACCOUNTING POLICIES - continued |
Goodwill |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Fixtures, fittings & equipment | - |
Computer equipment | - |
Financial instruments |
All financial instruments of the company are considered to meet the definition of basic financial instruments. |
- Short term debtors and creditors |
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
- Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Leases in which substantially all the risks and rewards of ownership are transferred by the lessor are classified as finance leases. Property, plant and equipment acquired under finance leases are capitalised at the commencement of the lease at the lower of the fair value of the leased property and the present value of the minimum lease payments and are depreciated over the shorter of the lease term and their useful lives. The capital element of the lease obligation is recorded as a liability and the interest element of the finance lease rentals is charged to the profit and loss account on an annuity basis. Each lease payment is apportioned between the liability and finance charges using the effective interest method. |
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to the profit and loss on a straight-line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
AMORTISATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 | 33,145 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Hire purchase contracts (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
31.7.23 | 31.7.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
31.7.23 | 31.7.22 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
On 17th September 2020 Ortus Secured Finance I Limited registered a charge against the company, charge NI66 4245 0002. This charge contains a fixed and floating charge over all the property or undertaking of the company. |
Ortus Secured Finance I Limited registered a second charge against the company on 17th September 2020, charge NI66 4245 0001. This charge contained a fixed charge over the property at 34 Larne Road, Carrickfergus, County Antrim T38 7D. |
The charges were registered as a result of loans held in a fellow group undertaking. |
TAMLAGHT CARE LTD (REGISTERED NUMBER: NI664245) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
11. | RELATED PARTY DISCLOSURES |
The company rents the property from which it operates from a fellow group undertaking. Rental costs in the period under review amounted to £60,000 (2022: £60,000). |
The company made payments to the group undertaking in the year of £284,243 (2022: £152,643) and the group undertaking paid expenses of £94,789 (2022: £142,972) on behalf of the company. The amount due to the group undertaking at the year end was £540,387 (2022: 729,841). |
During the year the company made payments on behalf of another fellow group undertaking of £1,107 (2022: £358), the balance owed from the fellow group undertaking at the year end was £151,739 (2022: £150,632) |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is C&G (London) Limited. |