Company registration number 05603926 (England and Wales)
MELITA CARE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MELITA CARE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MELITA CARE LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
19,125
Tangible assets
4
944,709
967,152
944,709
986,277
Current assets
Stocks
550
550
Debtors
5
115,223
104,946
Cash at bank and in hand
157,368
78,770
273,141
184,266
Creditors: amounts falling due within one year
6
(114,295)
(75,681)
Net current assets
158,846
108,585
Total assets less current liabilities
1,103,555
1,094,862
Creditors: amounts falling due after more than one year
7
(203,197)
(224,620)
Provisions for liabilities
(67,576)
(68,686)
Government grants
(5,689)
-
0
Net assets
827,093
801,556
Capital and reserves
Called up share capital
100
100
Revaluation reserve
9
413,028
422,974
Profit and loss reserves
413,965
378,482
Total equity
827,093
801,556

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MELITA CARE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 August 2024 and are signed on its behalf by:
Mr G F Underwood
Miss S L Street
Director
Director
Company registration number 05603926 (England and Wales)
MELITA CARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Melita Care Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Simpkins Edwards LLP, The Summit, Woodwater Park, Pynes Hill, Exeter, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% per annum on cost
Plant and equipment
20% reducing balance basis
Fixtures and fittings
10% reducing balance basis
Motor vehicles
20% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

MELITA CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
41
41
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
382,500
Amortisation and impairment
At 1 April 2023
363,375
Amortisation charged for the year
19,125
At 31 March 2024
382,500
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
19,125
MELITA CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 April 2023
1,075,000
156,824
1,231,824
Additions
-
0
5,785
5,785
At 31 March 2024
1,075,000
162,609
1,237,609
Depreciation and impairment
At 1 April 2023
150,500
114,172
264,672
Depreciation charged in the year
21,500
6,728
28,228
At 31 March 2024
172,000
120,900
292,900
Carrying amount
At 31 March 2024
903,000
41,709
944,709
At 31 March 2023
924,500
42,652
967,152

The directors reviewed the market value of the remaining property as at the balance sheet date and are satisfied that the value shown is a fair value for the property.

MELITA CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Tangible fixed assets
(Continued)
- 6 -

The revaluation surplus is disclosed in note 9.

If the property was measured using the cost model, the carrying amounts would be as follows:

2024
2023
£
£
Cost
577,687
577,687
Accumulated depreciation
(98,304)
(86,750)
Carrying value
479,383
490,937
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
43,877
32,071
Other debtors
71,346
72,875
115,223
104,946
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
21,679
18,239
Trade creditors
26,654
12,895
Taxation and social security
54,041
30,866
Other creditors
11,921
13,681
114,295
75,681

The bank loan is secured upon the trade and assets of the company.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
203,197
224,620

The bank loan is secured upon the trade and assets of the company.

MELITA CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
3,183
4,293
Revaluations
64,393
64,393
67,576
68,686
2024
Movements in the year:
£
Liability at 1 April 2023
68,686
Credit to profit or loss
(1,110)
Liability at 31 March 2024
67,576

The revaluations element of the deferred tax liability set out above represents the potential capital gains tax due should the company sell the freehold land and buildings.

9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
422,974
309,175
Deferred tax on revaluation of tangible assets
-
(64,393)
Transfer to retained earnings
(9,946)
(9,946)
Other movements
-
188,138
At the end of the year
413,028
422,974

The transfer of £9,946 represents the excess depreciation on revaluation.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
56,952
32,801
MELITA CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
11
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two directors
2.25
36,033
420
351
(36,804)
-
36,033
420
351
(36,804)
-

The aforementioned advances are unsecured and repayable on demand.

12
Parent company

On 6 June 2024, Melita Holdings Limited acquired the remaining 51% of the company shares, taking its shareholding to 100%. Melita Care Limited is now a 100% subsidiary of Melita Holdings Limited.

 

Melita Holdings Limited is a company registered in England and Wales. The company registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, EX2 5WS.

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