Registered number
05842342
Premier Care (Plymouth) Limited
trading as New Direction Support
Unaudited Filleted Accounts
31 December 2023
Premier Care (Plymouth) Limited
trading as New Direction Support
Registered number: 05842342
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 424,860 475,698
Investments 4 895,000 776,743
1,319,860 1,252,441
Current assets
Debtors 5 1,159,365 1,142,206
Cash at bank and in hand 936,359 817,722
2,095,724 1,959,928
Creditors: amounts falling due within one year 6 (357,597) (275,527)
Net current assets 1,738,127 1,684,401
Total assets less current liabilities 3,057,987 2,936,842
Creditors: amounts falling due after more than one year 7 (421,273) (447,859)
Provisions for liabilities (51,017) (37,398)
Net assets 2,585,697 2,451,585
Capital and reserves
Called up share capital 1 1
Capital redemption reserve 9 2 2
Profit and loss account 2,585,694 2,451,582
Shareholders' funds 2,585,697 2,451,585
The director is 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 director acknowledges her 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.
Tracey Underwood
Director
Approved by the board on 4 September 2024
Premier Care (Plymouth) Limited
trading as New Direction Support
Notes to the Accounts
for the year ended 31 December 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 is revenue earned from the rendering of services to the company's users.
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 10-50 years straight line
Office equipment over 3 years
Carehome furniture and equipment over 5 years
Motor vehicles 25% reducing balance
Investments
Investments are made up of investment properties measured at fair value. Changes in fair value are included in the profit and loss account. The company has departed from FRS 102's requirement to provide depreciation on land and property in order for the accounts to show a true and fair view. Where investment properties undergo substantial refurbishment work, no fair value adjustments are included until the refurbishment work is complete.
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 160 141
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 437,335 78,348 147,074 662,757
Additions - 10,842 - 10,842
At 31 December 2023 437,335 89,190 147,074 673,599
Depreciation
At 1 January 2023 77,271 73,019 36,769 187,059
Charge for the year 26,109 7,994 27,577 61,680
At 31 December 2023 103,380 81,013 64,346 248,739
Net book value
At 31 December 2023 333,955 8,177 82,728 424,860
At 31 December 2022 360,064 5,329 110,305 475,698
4 Investments
Other
investments
£
Cost
At 1 January 2023 776,743
Additions 41,452
Revaluation 76,805
At 31 December 2023 895,000
Historical cost
At 1 January 2023 755,758
At 31 December 2023 781,838
The carrying value of investment properties is being reviewed annually by the director by reference to their market value. Where appropriate, a revaluation adjustment is being made. A provision for deferred tax has been made to recognise the tax that would need to be paid were the revalued properties to be sold.
5 Debtors 2023 2022
£ £
Trade debtors 19,078 163,371
Other debtors 1,140,287 978,835
1,159,365 1,142,206
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 24,000 24,066
Obligations under finance lease and hire purchase contracts 7,323 5,954
Trade creditors 5,130 3,640
Taxation and social security costs 170,869 132,367
Other creditors 150,275 109,500
357,597 275,527
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 377,758 397,022
Obligations under finance lease and hire purchase contracts 43,515 50,837
421,273 447,859
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 281,758 270,000
Secured bank loans 401,758 477,814
The bank loans are secured by a fixed and floating charge over the assets of the company including the company's investment properties and head office at Roborough.
9 Capital redemption reserve 2023 2022
£ £
At 1 January 2023 2 2
At 31 December 2023 2 2
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Tracey Underwood
Short term loan, interest bearing, repayable on demand 94,749 115,947 - 210,696
94,749 115,947 - 210,696
11 Controlling party
The company is controlled by Tracey Underwood, the company's director, who owns the majority of the company's issued share capital.
12 Other information
Premier Care (Plymouth) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Old Court, Tavistock Road
Roborough
Plymouth
PL6 7BD
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