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2023-08-31
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No description of principal activities is disclosed
2022-09-01
Sage Accounts Production 23.0 - FRS102_2023
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08649426
2022-09-01
2023-08-31
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2023-08-31
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2022-08-31
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2023-08-31
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2022-09-01
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2023-08-31
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2023-08-31
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08649426
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2022-08-31
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2022-08-31
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2022-08-31
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2023-08-31
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2022-09-01
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08649426
1
2022-09-01
2023-08-31
Company registration number:
08649426
Umbrella Care (Midlands) Ltd
Unaudited filleted financial statements
31 August 2023
Umbrella Care (Midlands) Ltd
Contents
Statement of financial position
Notes to the financial statements
Umbrella Care (Midlands) Ltd
Statement of financial position
31 August 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
6 |
6,131 |
|
|
|
8,187 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
6,131 |
|
|
|
8,187 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
248,273 |
|
|
|
193,107 |
|
|
Cash at bank and in hand |
|
|
12,298 |
|
|
|
42,170 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
260,571 |
|
|
|
235,277 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
109,399) |
|
|
|
(
91,974) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
151,172 |
|
|
|
143,303 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
157,303 |
|
|
|
151,490 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
25,000) |
|
|
|
(
29,167) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
10 |
|
|
(
1,165) |
|
|
|
(
1,555) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
131,138 |
|
|
|
120,768 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
200 |
|
|
|
200 |
Profit and loss account |
|
|
|
|
130,938 |
|
|
|
120,568 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
131,138 |
|
|
|
120,768 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 August 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.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
30 August 2024
, and are signed on behalf of the board by:
Mrs Elaine Dodd
Director
Company registration number:
08649426
Umbrella Care (Midlands) Ltd
Notes to the financial statements
Year ended 31 August 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 Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are 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:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Computer equipment |
- |
33 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised infinance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
21
(2022:
23
).
5.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
2,056 |
4,875 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment |
Computer equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 September 2022 and 31 August 2023 |
15,207 |
20,229 |
35,436 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 September 2022 |
8,083 |
19,172 |
27,255 |
|
|
|
|
|
Charge for the year |
1,420 |
630 |
2,050 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 August 2023 |
9,503 |
19,802 |
29,305 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 August 2023 |
5,704 |
427 |
6,131 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 August 2022 |
7,124 |
1,057 |
8,181
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
29,700 |
32,491 |
|
Amounts owed by related parties |
|
185,853 |
157,157 |
|
Prepayments and accrued income |
|
32,720 |
3,459 |
|
|
|
_______ |
_______ |
|
|
|
248,273 |
193,107 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
10,000 |
|
Trade creditors |
|
8,580 |
- |
|
Corporation tax |
|
37,145 |
40,666 |
|
Social security and other taxes |
|
3,609 |
13,200 |
|
Director loan account - Mrs E Dodd |
|
3,185 |
1,947 |
|
Director loan account - Miss L Dodd |
|
33,270 |
11,409 |
|
Shareholder loan account - Mr A Dodd Snr |
|
1,880 |
1,380 |
|
Shareholder loan account - Mr A Dodd Jnr |
|
2,600 |
2,600 |
|
Staff pension |
|
550 |
2,192 |
|
Accruals and deferred income |
|
8,580 |
8,580 |
|
|
|
_______ |
_______ |
|
|
|
109,399 |
91,974 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
25,000 |
29,167 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Provisions
|
|
Deferred tax (note 11) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 September 2022 |
1,556 |
1,556 |
|
|
|
|
Additions |
(
391) |
(
391) |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31 August 2023 |
1,165 |
1,165 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Included in provisions (note 10) |
|
1,165 |
1,555 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Related party transactions
Elaine Dodd is a related party by virtue of her directorship of and shareholding in the company.The following transactions took place during the year between Elaine Dodd and the company:Amounts due to the related party as at 1 September 2022 : £1,947Payments to related party : (£40,678)Amounts received from related party : £41,916Amounts due to the related party as at 31 August 2023 : £3,185Laura Dodd is a related party by virtue of her directorship of and shareholding in the company.The following transactions took place during the year between Laura Dodd and the company:Amounts due to the related party as at 1 September 2022 : £11,409Payments to related party : (£37,196)Amounts received from related party : £59,056Amounts due to the related party as at 31 August 2023 : £33,270Alan Dodd Snr is a related party by virtue of her directorship of and shareholding in the company.The following transactions took place during the year between Alan Dodd Snr and the company:Amounts due to the related party as at 1 September 2022 : £1,380Payments to related party : (£4,500)Amounts received from related party : £5,000Amounts due to the related party as at 31 August 2023 : £1,880Alan Dodd Jnr is a related party by virtue of her directorship of and shareholding in the company.The following transactions took place during the year between Alan Dodd Jnr and the company:Amounts due to the related party as at 1 September 2022 : £2,600Payments to related party : (£NIL)Amounts received from related party : £NilAmounts due to the related party as at 31 August 2023 : £2,600Umbrella Care (Midlands) Holdings Limited is considered to be a related party by vitue of holding 100% of the issued ordinary share capital of Umbrella Care (Midlands) Limited. At the balance sheet date the company was owed £185,240 by Umbrella Care (Midlands) Holdings Limited. (2022: £156,544)UCM Properties Limited is considered to be a related party by vitue of common control by the directors. At the balance sheet date the company was owed £613 by UCM Properties Limited. (2022: £613)The loans were unsecured and interest free with no specific repayment terms.
13.
Controlling party
The company is a wholly owned subsidiary of Umbrella Care (Midlands) Holdings Limited, registered office address; 98 Lancaster Road, Newcastle-under-Lyme, Staffordshire, ST5 1DS.