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COMPANY REGISTRATION NUMBER: 04512410
Guyatt House Care Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Guyatt House Care Limited
Statement of Financial Position
30 November 2023
2023
2022
(restated)
Note
£
£
£
£
Fixed assets
Tangible assets
5
470,089
290,159
Current assets
Debtors
6
338,648
214,595
Cash at bank and in hand
669,497
468,627
------------
---------
1,008,145
683,222
Creditors: amounts falling due within one year
7
342,456
274,199
------------
---------
Net current assets
665,689
409,023
------------
---------
Total assets less current liabilities
1,135,778
699,182
Creditors: amounts falling due after more than one year
8
103,613
56,858
Provisions
Taxation including deferred tax
6,451
------------
---------
Net assets
1,025,714
642,324
------------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,025,614
642,224
------------
---------
Shareholders funds
1,025,714
642,324
------------
---------
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 income and retained earnings has not been delivered.
For the year ending 30 November 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 .
Guyatt House Care Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 24 August 2024 , and are signed on behalf of the board by:
Mr A C Stocks
Mr R P Stocks
Director
Director
Company registration number: 04512410
Guyatt House Care Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is F3 Stirling House, Cambrideg Innovation Park, Denny End Road, Waterbeach, Cambridgeshire, CB25 9QE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Freehold property
-
2% straight line (land is not depreciated)
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 83 (2022: 91 ).
5. Tangible assets
Freehold property
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2022 (as restated)
128,288
232,180
30,298
390,766
Additions
167,186
127,900
3,820
298,906
Disposals
( 88,990)
( 88,990)
---------
---------
--------
---------
At 30 November 2023
295,474
271,090
34,118
600,682
---------
---------
--------
---------
Depreciation
At 1 December 2022
35,180
44,301
21,126
100,607
Charge for the year
4,552
58,638
2,949
66,139
Disposals
( 36,153)
( 36,153)
---------
---------
--------
---------
At 30 November 2023
39,732
66,786
24,075
130,593
---------
---------
--------
---------
Carrying amount
At 30 November 2023
255,742
204,304
10,043
470,089
---------
---------
--------
---------
At 30 November 2022
93,108
187,879
9,172
290,159
---------
---------
--------
---------
The directors estimate the cost of land included within freehold property above to be £40,000 (2022 - £40,000). Land is not depreciated .
6. Debtors
2023
2022
(restated)
£
£
Trade debtors
24,625
59,991
Other debtors
314,023
154,604
---------
---------
338,648
214,595
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
(restated)
£
£
Bank loans and overdrafts
6,463
6,304
Trade creditors
13
1,144
Social security and other taxes
200,164
84,524
Other creditors
135,816
182,227
---------
---------
342,456
274,199
---------
---------
Included within the liabilities disclosed above under other creditors is an amount of £109,049 (2022: £18,363) for which security over the assets to which the liability relates has been given .
8. Creditors: amounts falling due after more than one year
2023
2022
(restated)
£
£
Bank loans and overdrafts
10,569
17,032
Other creditors
93,044
39,826
---------
--------
103,613
56,858
---------
--------
Included within the liabilities disclosed above under other creditors is an amount of £93,044 (2022: £39,826) for which security over the assets to which the liability relates has been given.
9. Prior period errors
During the year the company revisited its fixed assets and indicated an error which resulted in profits being understated by £25,939. Fixed assets were understated by £124,700 and HP liabilities understated by £98,761. This has been adjusted for as a prior year adjustment.
10. Other financial commitments
The total future minimum lease payments under non-cancellable operating leases is £ 63,576 (2022: £ 2,578 ).
11. Directors' advances, credits and guarantees
During the year the company made advances to and received repayments from a director. Interest has been charged at the official HMRC rate on any overdrawn loan account balances, there are no repayment terms.
2023 2022
£ £
Advances 152,447 71,947
Repayments 53,556 17,955
Balance due from director 181,668 82,777
During the year the company made advances to and received repayments from a director. Interest has been charged at the official HMRC rate on any overdrawn loan account balances, there are no repayment terms.
2023 2022
£ £
Advances 2,384 27,047
Repayments 2,384 27,047