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Company registration number: 12309147
Umbrella Care (Midlands) Holdings Ltd
Unaudited filleted financial statements
31 August 2023
Umbrella Care (Midlands) Holdings Ltd
Contents
Statement of financial position
Notes to the financial statements
Umbrella Care (Midlands) Holdings Ltd
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 348,766 310,046
Investments 6 152,969 152,969
_______ _______
501,735 463,015
Current assets
Debtors 7 3 3
_______ _______
3 3
Creditors: amounts falling due
within one year 8 ( 250,197) ( 221,501)
_______ _______
Net current liabilities ( 250,194) ( 221,498)
_______ _______
Total assets less current liabilities 251,541 241,517
Creditors: amounts falling due
after more than one year 9 ( 145,030) ( 145,030)
_______ _______
Net assets 106,511 96,487
_______ _______
Capital and reserves
Called up share capital 100 100
Share premium account 76,434 76,434
Profit and loss account 29,977 19,953
_______ _______
Shareholders funds 106,511 96,487
_______ _______
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: 12309147
Umbrella Care (Midlands) Holdings 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.
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.
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:
Freehold property - No depreciation
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2022: 0).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 September 2022 310,046 310,046
Additions 38,720 38,720
_______ _______
At 31 August 2023 348,766 348,766
_______ _______
Depreciation
At 1 September 2022 and 31 August 2023 - -
_______ _______
Carrying amount
At 31 August 2023 348,766 348,766
_______ _______
At 31 August 2022 310,046 310,046
_______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 September 2022 and 31 August 2023 152,969 152,969
_______ _______
Impairment
At 1 September 2022 and 31 August 2023 - -
_______ _______
Carrying amount
At 31 August 2023 152,969 152,969
_______ _______
At 31 August 2022 152,969 152,969
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
Umbrella Care (Midlands) Ltd 15a - 17a Getliffe's Yard, Derby Street, Leek, Staffordshire, ST13 5AJ Ordinary 100
UCM Properties Ltd Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS Ordinary 100
The results and capital and reserves for the period of the trading companies are as follows:
Capital and Profit/(loss)
reserves for the
period
2023 2022 2023 2022
£ £ £ £
Subsidiary undertakings
Umbrella Care (Midlands) Ltd 130,938 120,768 80,370 58,293
UCM Properties Ltd (513) (513) - -
7. Debtors
2023 2022
£ £
Called up share capital not paid 3 3
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to related parties 185,340 156,644
Director loan account - Mrs E Dodd 64,857 64,857
_______ _______
250,197 221,501
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 145,030 145,030
_______ _______
10. 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 : £64,857Payments to related party : (£Nil)Amounts received from related party : £NilAmounts due to the related party as at 31 August 2023 : £64,857Umbrella Care (Midlands) Limited is considered to be a related party by virtue of being a wholly owned subsidiary of Umbrella Care (Midlands) Holdings Limited. At the balance sheet date the company owed Umbrella Care (Midlands) Limited £185,240. (2022: 156,544)UCM Properties Limited is considered to be a related party by virtue of being a wholly owned subsidiary of Umbrella Care (Midlands) Holdings Limited. At the balance sheet date the company owed UCM Properties Limited £100. (2022: 100)