Wild Acres Rest Home Limited
Registered number: 07336663
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 45,000 52,500
Tangible assets 4 169,080 179,162
214,080 231,662
Current assets
Debtors 5 483,262 36,037
Cash at bank and in hand 149,350 430,701
632,612 466,738
Creditors: amounts falling due within one year 6 (121,807) (85,503)
Net current assets 510,805 381,235
Net assets 724,885 612,897
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 723,885 611,897
Shareholders' funds 724,885 612,897
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 4 June 2024
Wild Acres Rest 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:
Premises and Improvements 2% straight line basis
Equipment, fixtures and fittings 15% reducing balance basis
Motor van 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 27
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
Properties and Improvements Equipment, fixtures and fittings Motor van Total
£ £ £ £
Cost
At 1 April 2023 144,648 256,216 5,350 406,214
Additions - - 1,000 1,000
At 31 March 2024 144,648 256,216 6,350 407,214
Depreciation
At 1 April 2023 22,013 201,404 3,635 227,052
Charge for the year 2,453 8,222 407 11,082
At 31 March 2024 24,466 209,626 4,042 238,134
Net book value
At 31 March 2024 120,182 46,590 2,308 169,080
At 31 March 2023 122,635 54,812 1,715 179,162
5 Debtors 2024 2023
£ £
Trade debtors 17,962 10,198
Accrued Income and Prepayments - 16,239
Related Party Balance - Northcourt Lodge Residential Care Home Limited 450,000 -
Other debtors and prepayments 15,300 9,600
483,262 36,037
6 Creditors: amounts falling due within one year 2024 2023
£ £
Directors' current account 16,534 2,863
Mispostings - 1,518
Difference account 467 10,635
Trade creditors 11,364 4,433
Other taxes and social security costs 93,442 62,587
Other creditors and accruals - 3,467
121,807 85,503
7 Related Party Balance 2024 2023
£ £
Northcourt Lodge Residential Care Home Limited
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 to Northcourt Lodge Residential Care Home Limited yet to be reimbursed to the company.
Amount due to and from the related party 450,000 -
8 Controlling party
Mr H S Surdhar controls the company.
9 Other information
Wild Acres Rest Home Limited is a private company limited by shares and incorporated in England. Its registered office is:
440 Finchampstead Road
Finchampstead
Wokingham
RG40 3RD
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