Applegarth Care Home Limited
Registered number: 07336639
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 45,000 52,500
Tangible assets 4 58,232 67,154
103,232 119,654
Current assets
Debtors 5 514,663 40,685
Cash at bank and in hand 63,548 510,478
578,211 551,163
Creditors: amounts falling due within one year 6 (138,750) (111,513)
Net current assets 439,461 439,650
Net assets 542,693 559,304
Capital and reserves
Called up share capital 4,000 4,000
Profit and loss account 538,693 555,304
Shareholders' funds 542,693 559,304
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H S Surdhar
Director
Approved by the board on 3 June 2024
Applegarth Care Home Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements 15% reducing balance basis
Equipment, fixtures and fittings 15% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 150,000
At 31 March 2024 150,000
Amortisation
At 1 April 2023 97,500
Provided during the year 7,500
At 31 March 2024 105,000
Net book value
At 31 March 2024 45,000
At 31 March 2023 52,500
Goodwill arises on incorporation. Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Improvement costs Equipment, fixtures and fittings Total
£ £ £
Cost
At 1 April 2023 49,010 118,093 167,103
Additions - 1,354 1,354
At 31 March 2024 49,010 119,447 168,457
Depreciation
At 1 April 2023 31,089 68,860 99,949
Charge for the year 2,688 7,588 10,276
At 31 March 2024 33,777 76,448 110,225
Net book value
At 31 March 2024 15,233 42,999 58,232
At 31 March 2023 17,921 49,233 67,154
5 Debtors 2024 2023
£ £
Trade debtors 6,359 19,303
Related party balance - Northcourt Lodge Residential Care Home Limited 500,000 -
Staff loans 8,304 6,890
Acrrued Income and Prepayments - 14,492
514,663 40,685
6 Creditors: amounts falling due within one year 2024 2023
£ £
Directors' current account 89,811 65,011
Other Creditors and Accruals - 1,518
Trade creditors 10,007 6,138
Corporation tax 42,422 37,646
Other taxes and social security costs (7,138) -
Barclay card 1,103 -
Amex card 1,345 -
Other creditors and accruals 1,200 1,200
138,750 111,513
7 Related Party Balance 2024 2023
£ £
Mr and Mrs Surdhar, directors and shareholders of this company are also directors and shareholders of Northcourt Lodge Residential Care Home Limited.
An interest free and unsecured loan from Northcourt Lodge Residential Care Home Limited.
Amount due from Nourthcourt Lodge Residential Care Home Limited. 500,000 -
8 Controlling party
The directors control the company.
9 Other information
Applegarth Care Home Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Huntercombe Lane North
Taplow
Maidenhead
SL6 0LG
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