Company Registration No. 05754621 (England and Wales)
Justcare Homes Limited
Unaudited accounts
for the year ended 30 November 2023
Justcare Homes Limited
Unaudited accounts
Contents
Justcare Homes Limited
Company Information
for the year ended 30 November 2023
Directors
A J Cain
J A Cain
Company Number
05754621 (England and Wales)
Registered Office
The Beeches
59 High Street
Mansfield Woodhouse
Nottinghamshire
NG19 8BB
England
Justcare Homes Limited
Statement of financial position
as at 30 November 2023
Tangible assets
694,196
691,764
Cash at bank and in hand
9,035
17,811
Creditors: amounts falling due within one year
(313,184)
(528,315)
Net current liabilities
(254,381)
(474,493)
Total assets less current liabilities
439,815
217,271
Creditors: amounts falling due after more than one year
(518,431)
(293,902)
Net liabilities
(78,616)
(76,631)
Called up share capital
15,000
15,000
Profit and loss account
(93,616)
(91,631)
Shareholders' funds
(78,616)
(76,631)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by
A J Cain
Director
Company Registration No. 05754621
Justcare Homes Limited
Notes to the Accounts
for the year ended 30 November 2023
Justcare Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 05754621. The registered office is The Beeches, 59 High Street, Mansfield Woodhouse, Nottinghamshire, NG19 8BB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The balance sheet of the company shows net current liabilities and net liabilities, however the accounts have been prepared on a going concern basis on the understanding that the company's directors will continue to fund it's working capital requirements.
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Goodwill, in relation to the purchase of the business in 2006 has been fully amortised over 7 years, being the estimated useful life of the asset.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost
Computer equipment
33% on cost
Justcare Homes Limited
Notes to the Accounts
for the year ended 30 November 2023
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Justcare Homes Limited
Notes to the Accounts
for the year ended 30 November 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's intangible and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Determine whether leases are entered into by the company as a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 5)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Intangible fixed assets
Goodwill
At 1 December 2022
375,000
At 30 November 2023
375,000
At 1 December 2022
375,000
At 30 November 2023
375,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2022
664,997
46,930
47,073
5,814
764,814
Additions
-
-
10,684
-
10,684
At 30 November 2023
664,997
46,930
57,757
5,814
775,498
At 1 December 2022
-
46,930
21,062
5,058
73,050
Charge for the year
-
-
7,903
349
8,252
At 30 November 2023
-
46,930
28,965
5,407
81,302
At 30 November 2023
664,997
-
28,792
407
694,196
At 30 November 2022
664,997
-
26,011
756
691,764
Justcare Homes Limited
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Trade debtors
9,749
10,875
Accrued income and prepayments
17,519
14,636
Other debtors
22,500
10,500
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
54,444
93,249
Trade creditors
12,261
14,721
Taxes and social security
6,868
10,224
Other creditors
8,279
18,188
Loans from directors
165,500
318,048
Deferred income
17,627
22,577
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
148,431
163,902
Other creditors
370,000
130,000
9
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
2,059
2,059
Later than one year and not later than five years
2,059
4,118
10
Transactions with related parties
As at 30 November 2023 the amount owed to entities with control, joint control or significant influence over the company was £370,000 (2022: £130,000).
11
Average number of employees
During the year the average number of employees was 29 (2022: 28).