14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 7,482 236 7,718 xbrli:pure xbrli:shares iso4217:GBP 5469828 2023-06-01 2024-05-31 5469828 2024-05-31 5469828 2023-05-31 5469828 2022-06-01 2023-05-31 5469828 2023-05-31 5469828 2022-05-31 5469828 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 5469828 core:PlantMachinery 2023-06-01 2024-05-31 5469828 core:MotorVehicles 2023-06-01 2024-05-31 5469828 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 5469828 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 5469828 bus:OrdinaryShareClass3 2023-06-01 2024-05-31 5469828 bus:OrdinaryShareClass4 2023-06-01 2024-05-31 5469828 bus:Director1 2023-06-01 2024-05-31 5469828 bus:Director2 2023-06-01 2024-05-31 5469828 bus:Director3 2023-06-01 2024-05-31 5469828 bus:Director4 2023-06-01 2024-05-31 5469828 core:LandBuildings 2023-05-31 5469828 core:PlantMachinery 2023-05-31 5469828 core:MotorVehicles 2023-05-31 5469828 core:LandBuildings 2024-05-31 5469828 core:PlantMachinery 2024-05-31 5469828 core:MotorVehicles 2024-05-31 5469828 core:DeferredTaxation 2023-06-01 2024-05-31 5469828 core:LandBuildings 2023-06-01 2024-05-31 5469828 core:WithinOneYear 2024-05-31 5469828 core:WithinOneYear 2023-05-31 5469828 core:AfterOneYear 2024-05-31 5469828 core:AfterOneYear 2023-05-31 5469828 core:UKTax 2023-06-01 2024-05-31 5469828 core:UKTax 2022-06-01 2023-05-31 5469828 core:ShareCapital 2024-05-31 5469828 core:ShareCapital 2023-05-31 5469828 core:RetainedEarningsAccumulatedLosses 2024-05-31 5469828 core:RetainedEarningsAccumulatedLosses 2023-05-31 5469828 core:AcceleratedTaxDepreciationDeferredTax 2024-05-31 5469828 core:AcceleratedTaxDepreciationDeferredTax 2023-05-31 5469828 core:LandBuildings 2023-05-31 5469828 core:PlantMachinery 2023-05-31 5469828 core:MotorVehicles 2023-05-31 5469828 core:DeferredTaxation 2023-05-31 5469828 core:DeferredTaxation 2024-05-31 5469828 bus:SmallEntities 2023-06-01 2024-05-31 5469828 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 5469828 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 5469828 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 5469828 bus:FullAccounts 2023-06-01 2024-05-31 5469828 bus:OrdinaryShareClass1 2024-05-31 5469828 bus:OrdinaryShareClass1 2023-05-31 5469828 bus:OrdinaryShareClass2 2024-05-31 5469828 bus:OrdinaryShareClass2 2023-05-31 5469828 bus:OrdinaryShareClass3 2024-05-31 5469828 bus:OrdinaryShareClass3 2023-05-31 5469828 bus:OrdinaryShareClass4 2024-05-31 5469828 bus:OrdinaryShareClass4 2023-05-31 5469828 bus:AllOrdinaryShares 2024-05-31 5469828 bus:AllOrdinaryShares 2023-05-31
COMPANY REGISTRATION NUMBER: 5469828
West Wales Care Limited
Filleted Unaudited Financial Statements
31 May 2024
West Wales Care Limited
Financial Statements
Year ended 31 May 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
West Wales Care Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
715,689
739,781
Current assets
Debtors
7
36,945
12,931
Cash at bank and in hand
42,338
62,913
--------
--------
79,283
75,844
Creditors: amounts falling due within one year
8
( 118,359)
( 110,078)
---------
---------
Net current liabilities
( 39,076)
( 34,234)
---------
---------
Total assets less current liabilities
676,613
705,547
Creditors: amounts falling due after more than one year
9
( 332,620)
( 419,458)
Provisions
Taxation including deferred tax
10
( 7,718)
( 7,482)
---------
---------
Net assets
336,275
278,607
---------
---------
Capital and reserves
Called up share capital
12
40
40
Profit and loss account
336,235
278,567
---------
---------
Shareholders funds
336,275
278,607
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
West Wales Care Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 16 July 2024 , and are signed on behalf of the board by:
Mrs S Kimpson
Mrs J Anderson
Director
Director
Mr F Bryce
Mr PM Collings
Director
Director
Company registration number: 5469828
West Wales Care Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 67 Pill Road, Milford Haven, Pembrokeshire, SA73 2NP, Wales.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the forseeable future. For this reason, the directors continue to adopt the going concern basis of accounts in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 17 ).
5. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
64,508
56,250
Deferred tax:
Origination and reversal of timing differences
236
( 208)
--------
--------
Tax on profit
64,744
56,042
--------
--------
6. Tangible assets
Freehold Property
Plant & Machinery
Motor Vehicles
Total
£
£
£
£
Cost
At 1 June 2023
755,500
195,891
10,600
961,991
Additions
2,668
2,668
---------
---------
--------
---------
At 31 May 2024
755,500
198,559
10,600
964,659
---------
---------
--------
---------
Depreciation
At 1 June 2023
59,649
154,200
8,361
222,210
Charge for the year
15,110
11,090
560
26,760
---------
---------
--------
---------
At 31 May 2024
74,759
165,290
8,921
248,970
---------
---------
--------
---------
Carrying amount
At 31 May 2024
680,741
33,269
1,679
715,689
---------
---------
--------
---------
At 31 May 2023
695,851
41,691
2,239
739,781
---------
---------
--------
---------
7. Debtors
2024
2023
£
£
Other debtors
36,945
12,931
--------
--------
Other debtors include an amount of £nil (2023 - £nil) falling due after more than one year.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts (secured)
32,274
32,680
Trade creditors
3,706
9,559
Corporation tax
64,914
56,571
Social security and other taxes
6,635
5,065
Other creditors
10,830
6,203
---------
---------
118,359
110,078
---------
---------
HSBC Bank PLC holds a fixed and floating charge over the assets of the company.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts (secured)
332,620
419,458
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £231,926 (2023: £306,850) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Provisions
Deferred tax (note 11)
£
At 1 June 2023
7,482
Additions
236
-------
At 31 May 2024
7,718
-------
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 10)
7,718
7,482
-------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
7,718
7,482
-------
-------
12. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
10
10
10
10
Ordinary 'B' shares of £ 1 each
10
10
10
10
Ordinary 'C' shares of £ 1 each
10
10
10
10
Ordinary 'D' shares of £ 1 each
10
10
10
10
----
----
----
----
40
40
40
40
----
----
----
----
13. Related party transactions
During the year the company paid dividends of £112,000 (2023 - £170,000) to the shareholders.