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Registered number: 06425530
The Haven Residential Care Home Limited
Unaudited Financial Statements
For the Period 1 November 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06425530
31 March 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 4,324 4,612
4,324 4,612
CURRENT ASSETS
Debtors 6 83,740 66,588
Cash at bank and in hand 26,822 14,250
110,562 80,838
Creditors: Amounts Falling Due Within One Year 7 (57,949 ) (48,031 )
NET CURRENT ASSETS (LIABILITIES) 52,613 32,807
TOTAL ASSETS LESS CURRENT LIABILITIES 56,937 37,419
PROVISIONS FOR LIABILITIES
Deferred Taxation (745 ) (876 )
NET ASSETS 56,192 36,543
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 56,092 36,443
SHAREHOLDERS' FUNDS 56,192 36,543
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Joyce Sihwa
Director
19th August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Haven Residential Care Home Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06425530 . The registered office is Chalice House, Bromley Road, Elmstead, Colchester, Essex, CO7 7BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Fixtures & Fittings 15% Reducing balance
Computer Equipment 15% Reducing balance
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 9 (2023: 12)
9 12
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4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 75,000
As at 31 March 2024 75,000
Amortisation
As at 1 November 2023 75,000
As at 31 March 2024 75,000
Net Book Value
As at 31 March 2024 -
As at 1 November 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 1,242 29,117 150 30,509
As at 31 March 2024 1,242 29,117 150 30,509
Depreciation
As at 1 November 2023 499 25,249 149 25,897
Provided during the period 46 242 - 288
As at 31 March 2024 545 25,491 149 26,185
Net Book Value
As at 31 March 2024 697 3,626 1 4,324
As at 1 November 2023 743 3,868 1 4,612
6. Debtors
31 March 2024 31 October 2023
£ £
Due within one year
Other debtors 83,740 66,588
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7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 October 2023
£ £
Trade creditors (2 ) (2 )
Amounts owed to group undertakings 23,237 24,137
Other creditors 1,580 1,162
Taxation and social security 33,134 22,734
57,949 48,031
8. Share Capital
31 March 2024 31 October 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Ms Joyce Sihwa 49,702 13,424 - - 63,127
The above loan is unsecured and repayable on demand. Interest has been charged on the loan to the director at the HMRC offiicial rate of interest.
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