Registration number:
Companion Care (Aintree) Limited
for the Period from 31 March 2023 to 28 March 2024
Companion Care (Aintree) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Companion Care (Aintree) Limited
Company Information
Directors |
Companion Care (Services) Limited E Cortese |
Company secretary |
Companion Care (Services) Limited |
Registered office |
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Companion Care (Aintree) Limited
(Registration number: 07450327)
Balance Sheet as at 28 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
120 |
120 |
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Retained earnings |
(217,413) |
(288,635) |
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Shareholders' deficit |
(217,293) |
(288,515) |
For the financial period ending 28 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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.
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Companion Care (Aintree) Limited
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
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 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 financial statements have been prepared using the historical cost convention.
Accounts are prepared on a 52 week period (2023: 52 week period) resulting in a fluctuating year end between the 25th and 31st March.
Going concern
The directors have considered the factors that impact the company’s future development, performance, cash flows and financial position along with the company’s current liquidity in forming their opinion on the going concern basis. Notwithstanding net current liabilities of £138,228 as at 28 March 2024 the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue recognition
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers in the UK.
Turnover is recognised at point of sale except for turnover derived from care plans, which is recognised on an apportioned basis relative to delivery of the service.
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.
Companion Care (Aintree) Limited
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
3 - 10 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
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.
Stocks
Stocks stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related turnover is recognised.
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.
Companion Care (Aintree) Limited
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
2 |
Accounting policies (continued) |
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Defined contribution pension obligation
The company operates a defined contribution pension scheme.
Contributions to the pension scheme are charged to profit or loss in the period to which they relate.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Companion Care (Aintree) Limited
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
Tangible assets |
Furniture, fittings and equipment |
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Cost or valuation |
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At 31 March 2023 |
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Additions |
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Disposals |
( |
At 28 March 2024 |
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Depreciation |
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At 31 March 2023 |
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Charge for the period |
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Eliminated on disposal |
( |
At 28 March 2024 |
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Carrying amount |
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At 28 March 2024 |
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At 30 March 2023 |
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Included within the above are fixed assets held under finance leases with a NBV of £599 (2023: £1,199).
Stocks |
2024 |
2023 |
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Other inventories |
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Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Companion Care (Aintree) Limited
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to related parties |
- |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Finance lease liabilities |
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Loans from related parties |
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Current loans and borrowings
2024 |
2023 |
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Bank overdrafts |
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Finance lease liabilities |
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Loans from related parties |
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Companion Care (Aintree) Limited
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
8 |
Loans and borrowings (continued) |
Other borrowings
The operating loan is denominated in GBP with a nominal interest rate of 0%. The carrying amount at period end is £25,612 (2023 - £61,781). The operating loan is repayable within 3 months if requested. |
The loan from Companion Care (Services) Limited is denominated in GBP with a nominal interest rate of 2.75% above the Bank of England base rate. The carrying amount at period end is £60,000 (2023 - £60,000). |
The Partner loan is denominated in GBP with a nominal interest rate of 1.75% above the Bank of England base rate. The carrying amount at period end is £30,000 (2023 - £30,000). There was no set date for the repayment of loans due to the Directors and Companion Care (Services) Limited.
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
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Not later than one year |
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The practice occupies space within a Pets at Home store under a licence to occupy agreement. As this is a rolling agreement, the company is committed to an annual payment, which is included in the table above. The payments made reflect the operating lease commitments as held at the Pets at Home branch in which the practice is situated.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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'A' Ordinary of £1 each |
60 |
60 |
60 |
60 |
'B' Ordinary of £1 each |
60 |
60 |
60 |
60 |
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A shares and B shares constitute separate classes of shares. A shareholders are entitled to receive dividends as declared from time to time. They are also entitled to one vote per share at general meetings of the company and rank below unsecured creditors in the event of a winding up. B shareholders have no entitlement to dividends. They are entitled to one vote per share at general meetings of the company and, in the event of a winding up, rank above A shareholders however are only entitled to receive any outstanding liabilities, they are not entitled to any further distribution of capital.