Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Mrs W K Adams 05/08/2011 30 August 2024 The principal activity of the Company during the financial year was that of the provision of residential care for the
elderly and disabled.
07730131 2023-08-31 07730131 bus:Director1 2023-08-31 07730131 2022-08-31 07730131 core:CurrentFinancialInstruments 2023-08-31 07730131 core:CurrentFinancialInstruments 2022-08-31 07730131 core:Non-currentFinancialInstruments 2023-08-31 07730131 core:Non-currentFinancialInstruments 2022-08-31 07730131 core:ShareCapital 2023-08-31 07730131 core:ShareCapital 2022-08-31 07730131 core:RevaluationReserve 2023-08-31 07730131 core:RevaluationReserve 2022-08-31 07730131 core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31 07730131 core:FurtherSpecificReserve1ComponentTotalEquity 2022-08-31 07730131 core:RetainedEarningsAccumulatedLosses 2023-08-31 07730131 core:RetainedEarningsAccumulatedLosses 2022-08-31 07730131 core:LandBuildings 2022-08-31 07730131 core:Vehicles 2022-08-31 07730131 core:FurnitureFittings 2022-08-31 07730131 core:OfficeEquipment 2022-08-31 07730131 core:LandBuildings 2023-08-31 07730131 core:Vehicles 2023-08-31 07730131 core:FurnitureFittings 2023-08-31 07730131 core:OfficeEquipment 2023-08-31 07730131 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-08-31 07730131 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-08-31 07730131 bus:OrdinaryShareClass1 2023-08-31 07730131 bus:OrdinaryShareClass2 2023-08-31 07730131 2022-09-01 2023-08-31 07730131 bus:FilletedAccounts 2022-09-01 2023-08-31 07730131 bus:SmallEntities 2022-09-01 2023-08-31 07730131 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 07730131 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07730131 bus:Director1 2022-09-01 2023-08-31 07730131 core:Vehicles 2022-09-01 2023-08-31 07730131 core:FurnitureFittings 2022-09-01 2023-08-31 07730131 core:OfficeEquipment 2022-09-01 2023-08-31 07730131 2021-09-01 2022-08-31 07730131 core:LandBuildings 2022-09-01 2023-08-31 07730131 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 07730131 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 07730131 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 07730131 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 07730131 bus:OrdinaryShareClass2 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07730131 (England and Wales)

SUNNYMEADE QUALITY CARE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

SUNNYMEADE QUALITY CARE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

SUNNYMEADE QUALITY CARE LIMITED

BALANCE SHEET

As at 31 August 2023
SUNNYMEADE QUALITY CARE LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,947,080 2,921,833
Investment property 4 616,576 325,000
3,563,656 3,246,833
Current assets
Stocks 2,500 2,500
Debtors 5 245,988 210,022
Cash at bank and in hand 585,183 826,489
833,671 1,039,011
Creditors: amounts falling due within one year 6 ( 135,305) ( 287,815)
Net current assets 698,366 751,196
Total assets less current liabilities 4,262,022 3,998,029
Creditors: amounts falling due after more than one year 7 ( 187,473) ( 219,183)
Provision for liabilities ( 218,636) ( 213,497)
Net assets 3,855,913 3,565,349
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 885,702 885,702
Fair value reserve 39,983 39,983
Profit and loss account 2,930,128 2,639,564
Total shareholders' funds 3,855,913 3,565,349

For the financial 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.

Director's responsibilities:

The financial statements of Sunnymeade Quality Care Limited (registered number: 07730131) were approved and authorised for issue by the Director on 30 August 2024. They were signed on its behalf by:

Mrs W K Adams
Director
SUNNYMEADE QUALITY CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
SUNNYMEADE QUALITY CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sunnymeade Quality Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 323 Tavistock Road, Derriford, Plymouth, PL6 8AE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts. Revenue from services for the provision of care is recognised as and when those services are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land and buildings, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 20 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 47 43

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 September 2022 2,875,000 0 65,981 43,334 2,984,315
Additions 0 28,995 10,450 1,652 41,097
At 31 August 2023 2,875,000 28,995 76,431 44,986 3,025,412
Accumulated depreciation
At 01 September 2022 0 0 37,199 25,283 62,482
Charge for the financial year 0 4,382 5,111 6,357 15,850
At 31 August 2023 0 4,382 42,310 31,640 78,332
Net book value
At 31 August 2023 2,875,000 24,613 34,121 13,346 2,947,080
At 31 August 2022 2,875,000 0 28,782 18,051 2,921,833

4. Investment property

Investment property
£
Valuation
As at 01 September 2022 325,000
Additions 291,576
As at 31 August 2023 616,576

5. Debtors

2023 2022
£ £
Trade debtors 30,143 26,369
Amounts owed by related parties 200,581 178,589
Other debtors 15,264 5,064
245,988 210,022

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 33,227 51,823
Trade creditors 9,341 5,179
Taxation and social security 76,373 168,235
Other creditors 16,364 62,578
135,305 287,815

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 187,473 219,183

The loans are secured against the properties to which they relate.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
90 A ordinary shares of £ 1.00 each 90 90
10 B ordinary shares of £ 1.00 each 10 10
100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Director's loan account 10,633 0

During the year, the Company advanced £68,106 to the director (2022 - £59,054), of which £57,473 was repaid (2022 - 59,054). The balance owed to the Company by the director as at 31 August is £10,633 (2022- £nil)

Interest was charged at the official HMRC rate per annum on this amount, the balance is repayable on demand.