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REGISTERED NUMBER: NI664245 (Northern Ireland)















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: Mr C Leach



REGISTERED OFFICE: C/o Shean Dickson Merrick
38-42 Hill Street
Belfast
BT1 2LB



REGISTERED NUMBER: NI664245 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



SOLICITORS: SDM 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 4 148,786 169,786
Tangible assets 5 230,475 279,912
379,261 449,698

CURRENT ASSETS
Debtors 6 185,446 289,920
Cash at bank and in hand 37,923 37,750
223,369 327,670
CREDITORS
Amounts falling due within one year 7 1,055,092 1,106,792
NET CURRENT LIABILITIES (831,723 ) (779,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(452,462

)

(329,424

)

CREDITORS
Amounts falling due after more than one
year

8

91

37,883
NET LIABILITIES (452,553 ) (367,307 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (452,653 ) (367,407 )
(452,553 ) (367,307 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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


The 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.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





Mr C Leach - Director


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 private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 10% on cost
Plant and machinery - 10% on cost and Straight line over 7 years
Fixtures, fittings & equipment - 20% on cost
Computer equipment - 33% on cost

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 60 (2022 - 59 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 209,997
AMORTISATION
At 1 August 2022 40,211
Charge for year 21,000
At 31 July 2023 61,211
NET BOOK VALUE
At 31 July 2023 148,786
At 31 July 2022 169,786

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 183,628 187,041 370,669
Additions 1,209 1,194 2,403
At 31 July 2023 184,837 188,235 373,072
DEPRECIATION
At 1 August 2022 33,095 57,662 90,757
Charge for year 18,484 33,356 51,840
At 31 July 2023 51,579 91,018 142,597
NET BOOK VALUE
At 31 July 2023 133,258 97,217 230,475
At 31 July 2022 150,533 129,379 279,912

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 117,000 50,659 167,659
DEPRECIATION
At 1 August 2022 23,517 6,821 30,338
Charge for year 9,628 8,821 18,449
At 31 July 2023 33,145 15,642 48,787
NET BOOK VALUE
At 31 July 2023 83,855 35,017 118,872
At 31 July 2022 93,483 43,838 137,321

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 24,101 103,917
Amounts owed by group undertakings 153,458 151,244
Other debtors 7,887 34,759
185,446 289,920

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) 37,791 51,514
Trade creditors 286,462 113,019
Amounts owed to group undertakings 540,387 729,841
Taxation and social security 72,256 125,510
Other creditors 118,196 86,908
1,055,092 1,106,792

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts (see note 9) 91 37,883

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 37,791 51,514
Between one and five years 91 37,883
37,882 89,397

Non-cancellable operating leases
31.7.23 31.7.22
£    £   
Within one year 60,000 60,000
Between one and five years 70,000 130,000
130,000 190,000

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.