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REGISTERED NUMBER: 06976760 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Red Homes Healthcare Limited

Red Homes Healthcare Limited (Registered number: 06976760)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red Homes Healthcare Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: R G Daniel
Mrs T J Hood
Ms H E Daniel
Mrs M J Daniel





REGISTERED OFFICE: 1st Floor
28 Market Place
Grantham
Lincolnshire
NG31 6LR





REGISTERED NUMBER: 06976760 (England and Wales)





ACCOUNTANTS: Hood Parkes & Co
1st Floor
28 Market Place
Grantham
Lincolnshire
NG31 6LR

Red Homes Healthcare Limited (Registered number: 06976760)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 868
Tangible assets 5 305,487 237,874
305,487 238,742

CURRENT ASSETS
Debtors 6 50,240 102,754
Cash at bank and in hand 120,784 92,274
171,024 195,028
CREDITORS
Amounts falling due within one year 7 350,521 397,861
NET CURRENT LIABILITIES (179,497 ) (202,833 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,990

35,909

CREDITORS
Amounts falling due after more than one
year

8

(12,184

)

-

PROVISIONS FOR LIABILITIES (32,796 ) (34,134 )
NET ASSETS 81,010 1,775

CAPITAL AND RESERVES
Called up share capital 202 202
Retained earnings 80,808 1,573
SHAREHOLDERS' FUNDS 81,010 1,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Red Homes Healthcare Limited (Registered number: 06976760)

Balance Sheet - continued
31st December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd September 2024 and were signed on its behalf by:





Ms H E Daniel - Director


Red Homes Healthcare Limited (Registered number: 06976760)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Red Homes Healthcare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Red Homes Healthcare Limited (Registered number: 06976760)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2022 - 68 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 8,679
AMORTISATION
At 1st January 2023 7,811
Amortisation for year 868
At 31st December 2023 8,679
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 868

Red Homes Healthcare Limited (Registered number: 06976760)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st January 2023 96,770 337,849 12,540 447,159
Additions 26,598 84,308 1,198 112,104
Disposals - (42,787 ) (3,440 ) (46,227 )
At 31st December 2023 123,368 379,370 10,298 513,036
DEPRECIATION
At 1st January 2023 - 200,295 8,990 209,285
Charge for year - 31,469 705 32,174
Eliminated on disposal - (31,023 ) (2,887 ) (33,910 )
At 31st December 2023 - 200,741 6,808 207,549
NET BOOK VALUE
At 31st December 2023 123,368 178,629 3,490 305,487
At 31st December 2022 96,770 137,554 3,550 237,874

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,879 97,913
Other debtors 8,361 4,841
50,240 102,754

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 116,311 157,144
Taxation and social security 33,438 30,361
Other creditors 200,772 210,356
350,521 397,861

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 12,184 -

Red Homes Healthcare Limited (Registered number: 06976760)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

9. RELATED PARTY DISCLOSURES

During the year under review the company has paid rent of £1 (2022: £1) to R G Daniel; Director and shareholder of the company for use of freehold property by the company which is owned by him.

The lease is under formal contract terms and has an agreed rental review period of every fifteen years.

Red Homes Healthcare (Grantham) Ltd t/a Red Court

A company owned by the shareholders, of which R G Daniel, M J Daniel, H E Daniel and T J Hood, are Directors.

Red Roofs Midlands Ltd

A company owned by the shareholders, of which R G Daniel, M J Daniel, H E Daniel and T J Hood, are Directors, is owed £11,065 (2022: £31,065) by the company. No date for repayment has been agreed and no interest charged.

Red Homes Properties Ltd

A company owned by the shareholders, of which R G Daniel and H E Daniel are Directors, owes £13 (2022: £13) to the company. No date for repayment has been agreed and no interest charged.

10. ULTIMATE CONTROLLING PARTY

The controlling party is R G Daniel.

11. CONSULTANCY FEES

Included in the costs of Professional Fees are the following Consultancy Fees which are split into:

Mortgage repayments relating to the loans on the buildings - £240,218

Overheads for consultancy - £50,000

Consultancy Fees - £229,782