Registered number
05557599
Prime Care (GB) Limited
Filleted Accounts
30 September 2023
Prime Care (GB) Limited
Registered number: 05557599
Balance Sheet
As at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 77,000 96,250
Tangible assets 4 1,257,657 1,287,147
1,334,657 1,383,397
Current assets
Debtors 5 6,265 10,517
Cash at bank and in hand 7,509 11,387
13,774 21,904
Creditors: amounts falling due within one year 6 (1,926,971) (1,597,960)
Net current liabilities (1,913,197) (1,576,056)
Total assets less current liabilities (578,540) (192,659)
Creditors: amounts falling due after more than one year 7 (33,334) (39,216)
Net liabilities (611,874) (231,875)
Capital and reserves
Called up share capital 100 100
Profit and loss account (611,974) (231,975)
Shareholders' funds (611,874) (231,875)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Anjum
Director
Approved by the board on 30 August 2024
Prime Care (GB) Limited
Notes to the Accounts
For the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 48 61
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 385,000
At 30 September 2023 385,000
Amortisation
At 1 October 2022 288,750
Provided during the year 19,250
At 30 September 2023 308,000
Net book value
At 30 September 2023 77,000
At 30 September 2022 96,250
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2022 1,517,085 156,895 1,673,980
At 30 September 2023 1,517,085 156,895 1,673,980
Depreciation
At 1 October 2022 284,744 102,089 386,833
Charge for the year 21,644 7,846 29,490
At 30 September 2023 306,388 109,935 416,323
Net book value
At 30 September 2023 1,210,697 46,960 1,257,657
At 30 September 2022 1,232,341 54,806 1,287,147
5 Debtors 2023 2022
£ £
Trade debtors 6,265 10,517
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,026,898 1,040,942
Trade creditors 431,418 185,525
Taxation and social security costs 211,021 160,127
Other creditors 257,634 211,366
1,926,971 1,597,960
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,334 39,216
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 1,021,016 960,174
Bank loans are secured over the two freehold properties.
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases - 3,758
10 Other information
Prime Care (GB) Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Harold Street
Aspull
Wigan
Lancashire
WN2 1YU
11 Going Concern
The accounts have been prepared on a going concern basis on the assumption that the company will continue to receive support from the existing finance sources.
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