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Company registration number: 05845380
Rebba Care Limited
Unaudited financial statements
For the year ended
31 October 2023
Rebba Care Limited
Contents
Statement of financial position
Notes to the financial statements
Rebba Care Limited
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 3 104,000 117,000
Tangible assets 4 1,414,715 1,181,810
________ ________
1,518,715 1,298,810
Current assets
Stocks 250 250
Debtors 5 374,178 269,391
Cash at bank and in hand 19,388 124,643
________ ________
393,816 394,284
Creditors: amounts falling due
within one year 6 ( 264,572) ( 224,094)
________ ________
Net current assets 129,244 170,190
________ ________
Total assets less current liabilities 1,647,959 1,469,000
Creditors: amounts falling due
after more than one year 7 ( 671,759) ( 629,301)
________ ________
Net assets 976,200 839,699
________ ________
Capital and reserves
Called up share capital 2 2
Profit and loss account 976,198 839,697
________ ________
Shareholders funds 976,200 839,699
________ ________
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr R W Reeve
Director
Company registration number: 05845380
Rebba Care Limited
Notes to the financial statements
Year ended 31 October 2023
1. Accounting policies
Company information
The company is a private company limited by shares, registered in England and Wales, registration number 05845380 . The address of the registered office is The Croft, Upper Denbigh Road, St Asaph, Denbighshire, LL17 0RW.
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
FHL furnishings - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2022: 28 ).
3. Intangible assets
Goodwill Total
£ £
Cost
At 1 November 2022 and 31 October 2023 260,000 260,000
________ ________
Amortisation
At 1 November 2022 143,000 143,000
Charge for the year 13,000 13,000
________ ________
At 31 October 2023 156,000 156,000
________ ________
Carrying amount
At 31 October 2023 104,000 104,000
________ ________
At 31 October 2022 117,000 117,000
________ ________
4. Tangible assets
Land and buildings FHL land and buildings FHL furnishings Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £ £
Cost
At 1 November 2022 648,082 389,094 51,259 276,709 26,720 1,391,864
Additions - 245,184 8,331 4,779 - 258,294
________ ________ ________ ________ ________ ________
At 31 October 2023 648,082 634,278 59,590 281,488 26,720 1,650,158
________ ________ ________ ________ ________ ________
Depreciation
At 1 November 2022 - - 7,688 192,926 9,440 210,054
Charge for the year - - 7,785 13,284 4,320 25,389
________ ________ ________ ________ ________ ________
At 31 October 2023 - - 15,473 206,210 13,760 235,443
________ ________ ________ ________ ________ ________
Carrying amount
At 31 October 2023 648,082 634,278 44,117 75,278 12,960 1,414,715
________ ________ ________ ________ ________ ________
At 31 October 2022 648,082 389,094 43,571 83,783 17,280 1,181,810
________ ________ ________ ________ ________ ________
5. Debtors
2023 2022
£ £
Other debtors 374,178 269,391
________ ________
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 91,189 62,694
Taxation and social security 142,729 65,000
Other creditors 30,654 96,400
________ ________
264,572 224,094
________ ________
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 665,199 629,301
Other creditors 6,560 -
________ ________
671,759 629,301
________ ________
8. Directors advances, credits and guarantees
During the year the company made advances to Mr R Reeve & Mrs E Reeve, directors, totalling £114, 354 (2022 - £164,373). Repayments of £51,638 were made by 31 October 2023 and so the balance outstanding at the year end, 31 October 2023, was £309,388 (2022 - £246,672). Where applicable interest has been charged at the approved HMRC rate of 2% until April 2023 and 2. 25% thereafter. All loans are repayable on demand.