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Registration number: 02839925

Tenscare Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Tenscare Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

27,741

32,058

Investments

5

2

2

 

27,743

32,060

Current assets

 

Stocks

6

324,032

336,944

Debtors

7

1,164,612

884,192

Cash at bank and in hand

 

169,476

495,463

 

1,658,120

1,716,599

Creditors: Amounts falling due within one year

8

(842,007)

(821,449)

Net current assets

 

816,113

895,150

Net assets

 

843,856

927,210

Capital and reserves

 

Called up share capital

56

56

Share premium reserve

324,968

324,968

Capital redemption reserve

82

82

Retained earnings

518,750

602,104

Shareholders' funds

 

843,856

927,210

For the financial 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.

Directors' 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 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Tenscare Limited

Statement of Financial Position as at 31 December 2023

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

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

C S K Smith

Director

Company registration number: 02839925

 

Tenscare Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Blenheim Road
Epsom
Surrey
KT19 9BE

The principal activity of the company is that of the supply of medical equipment.

2

Accounting policies

Summary of significant accounting policies

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts on the basis the company and its subsidiary undertakings form a small group..

Going concern

The company had net assets at 31 December 2023 of £843,856, including cash at bank of £169,476.

Having made enquiries the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. The financial statements have therefore been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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 from the sale of goods when the goods are dispatched to customers and the amount of revenue can be reliably measured.

 

Tenscare Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Plant and machinery

25% reducing balance

Furniture, fittings and equipment

25% reducing balance

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.

 

Tenscare Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

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 during the year was 24 (2022 - 28).

 

Tenscare Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 January 2023

129,714

18,744

148,458

Additions

4,930

-

4,930

Disposals

(59,360)

-

(59,360)

At 31 December 2023

75,284

18,744

94,028

Depreciation

At 1 January 2023

100,747

15,653

116,400

Charge for the year

8,474

773

9,247

Eliminated on disposal

(59,360)

-

(59,360)

At 31 December 2023

49,861

16,426

66,287

Carrying amount

At 31 December 2023

25,423

2,318

27,741

At 31 December 2022

28,967

3,091

32,058

5

Investments

2023
£

2022
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 January 2023 and 31 December 2023

2

6

Stocks

2023
£

2022
£

Stock

324,032

336,944

 

Tenscare Limited

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

7

Debtors

2023
£

2022
£

Trade debtors

879,693

663,923

Amounts owed by group undertakings

82,450

1,253

Other debtors

202,469

219,016

1,164,612

884,192

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

629,962

409,200

Taxation and social security

64,900

119,910

Accruals and deferred income

140,779

279,777

Other creditors

6,366

12,562

842,007

821,449

9

COMMITMENTS AND GUARANTEES

Operating leases

The total of future minimum lease payments not reflected in the statement of financial position amounts to £152,860 (2022: £161,071).

10

Transactions with directors

At 31 December 2023 an amount of £33,451 (2022: £68,800) was due from the directors. During the year there were repayments of £36,379 and advances of £870. Interest of £160 (2022 - £490) has been charged at 2% per annum and there are no set terms in place.