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Registered number: 07875537
Fairfield Care (West Dorset) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Praddy Financial Consultancy Ltd
Chartered Management Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07875537
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,958,012 3,168,918
3,958,012 3,168,918
CURRENT ASSETS
Debtors 5 171,207 93,387
Cash at bank and in hand 91,329 231,091
262,536 324,478
Creditors: Amounts Falling Due Within One Year 6 (155,702 ) (210,126 )
NET CURRENT ASSETS (LIABILITIES) 106,834 114,352
TOTAL ASSETS LESS CURRENT LIABILITIES 4,064,846 3,283,270
Creditors: Amounts Falling Due After More Than One Year 7 (1,913,468 ) (1,310,345 )
NET ASSETS 2,151,378 1,972,925
CAPITAL AND RESERVES
Called up share capital 8 4 4
Revaluation reserve 1,094,729 1,094,729
Profit and Loss Account 1,056,645 878,192
SHAREHOLDERS' FUNDS 2,151,378 1,972,925
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Clement Sabapathy
Director
26/01/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2. Average Number of Employees
Average number of employees, including directors, during the year was: 40 (2022: 21)
40 21
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 3,156,418 56,797 - 10,030 3,223,245
Additions 717,008 13,905 91,960 - 822,873
As at 31 December 2023 3,873,426 70,702 91,960 10,030 4,046,118
Depreciation
As at 1 January 2023 - 49,722 - 4,605 54,327
Provided during the period - 8,076 22,990 2,713 33,779
As at 31 December 2023 - 57,798 22,990 7,318 88,106
Net Book Value
As at 31 December 2023 3,873,426 12,904 68,970 2,712 3,958,012
As at 1 January 2023 3,156,418 7,075 - 5,425 3,168,918
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
Page 3
Page 4
Cost or valuation as at 31 December 2023 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost 3,873,426 70,702 91,960 10,030 4,046,118
3,873,426 70,702 91,960 10,030 4,046,118
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 154,446 -
Prepayments and accrued income - 77,240
Other debtors 15,025 16,147
Net wages 1,736 -
171,207 93,387
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 30,432 -
Other loans 3,200 -
Corporation tax 111,877 97,108
Other taxes and social security 32,443 22,594
Net wages - 34,369
Other creditors 2,750 36,055
Accruals and deferred income (25,000 ) 20,000
155,702 210,126
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,559,522 881,706
Directors loan account 353,946 428,639
1,913,468 1,310,345
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
9. Dividends
Page 4