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Registration number: NI605000

Peninsula Care Services (NI) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2023

 

Peninsula Care Services (NI) Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Peninsula Care Services (NI) Ltd

Company Information

Director

Mr Jonathan Cook

Registered office

6-8 Georges Street
Newtownards
Co Down
BT23 7LS

Accountants

Hamilton Morris Waugh
34 Dufferin Avenue
Bangor
Down
BT20 3AA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Peninsula Care Services (NI) Ltd
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Peninsula Care Services (NI) Ltd for the year ended 30 November 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants (ACCA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Peninsula Care Services (NI) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Peninsula Care Services (NI) Ltd and state those matters that we have agreed to state to the Board of Directors of Peninsula Care Services (NI) Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peninsula Care Services (NI) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Peninsula Care Services (NI) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Peninsula Care Services (NI) Ltd. You consider that Peninsula Care Services (NI) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Peninsula Care Services (NI) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hamilton Morris Waugh
Chartered Certified Accountants
34 Dufferin Avenue
Bangor
Down
BT20 3AA

19 August 2024

 

Peninsula Care Services (NI) Ltd

(Registration number: NI605000)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,209,018

971,358

Current assets

 

Debtors

87,153

78,471

Cash at bank and in hand

 

840,551

568,935

 

927,704

647,406

Prepayments and accrued income

 

12,177

12,212

Creditors: Amounts falling due within one year

(245,218)

(121,475)

Net current assets

 

694,663

538,143

Total assets less current liabilities

 

1,903,681

1,509,501

Creditors: Amounts falling due after more than one year

(20,009)

(30,004)

Accruals and deferred income

 

(42,430)

(41,230)

Net assets

 

1,841,242

1,438,267

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

1,841,241

1,438,266

Shareholders' funds

 

1,841,242

1,438,267

 

Peninsula Care Services (NI) Ltd

(Registration number: NI605000)
Abridged Balance Sheet as at 30 November 2023

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 August 2024
 

.........................................
Mr Jonathan Cook
Director

 

Peninsula Care Services (NI) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
6-8 Georges Street
Newtownards
Co Down
BT23 7LS

These financial statements were authorised for issue by the director on 19 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Peninsula Care Services (NI) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

25% straight line

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Peninsula Care Services (NI) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 363 (2022 - 251).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

953,928

44,782

46,129

1,044,839

Additions

244,304

-

-

244,304

Disposals

-

-

(3,500)

(3,500)

At 30 November 2023

1,198,232

44,782

42,629

1,285,643

Depreciation

At 1 December 2022

-

43,705

29,776

73,481

Charge for the year

-

1,077

3,598

4,675

Eliminated on disposal

-

-

(1,531)

(1,531)

At 30 November 2023

-

44,782

31,843

76,625

Carrying amount

At 30 November 2023

1,198,232

-

10,786

1,209,018

At 30 November 2022

953,928

1,077

16,353

971,358

Included within the net book value of land and buildings above is £1,198,232 (2022 - £953,928) in respect of freehold land and buildings.
 

 

Peninsula Care Services (NI) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1