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Registered number: 07032810
Reliance Care Homes Limited
Financial Statements
For The Year Ended 30 September 2023
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07032810
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 18,800 25,068
Tangible Assets 5 1,385,157 1,415,036
1,403,957 1,440,104
CURRENT ASSETS
Debtors 6 151,429 151,421
Cash at bank and in hand 479,853 378,138
631,282 529,559
Creditors: Amounts Falling Due Within One Year 7 (297,374 ) (255,226 )
NET CURRENT ASSETS (LIABILITIES) 333,908 274,333
TOTAL ASSETS LESS CURRENT LIABILITIES 1,737,865 1,714,437
Creditors: Amounts Falling Due After More Than One Year 8 (613,473 ) (687,805 )
NET ASSETS 1,124,392 1,026,632
CAPITAL AND RESERVES
Called up share capital 9 104 104
Profit and Loss Account 1,124,288 1,026,528
SHAREHOLDERS' FUNDS 1,124,392 1,026,632
Page 1
Page 2
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Dr V R Srinivasan
Director
9th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Reliance Care Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07032810 . The registered office is C/O 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. 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.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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 when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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 2% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 47 (2022: 43)
47 43
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2022 91,608
As at 30 September 2023 91,608
Amortisation
As at 1 October 2022 66,540
Provided during the period 6,268
As at 30 September 2023 72,808
Net Book Value
As at 30 September 2023 18,800
As at 1 October 2022 25,068
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 October 2022 1,619,089 119,978 1,739,067
Additions - 4,320 4,320
As at 30 September 2023 1,619,089 124,298 1,743,387
Depreciation
As at 1 October 2022 244,429 79,602 324,031
Provided during the period 27,495 6,704 34,199
As at 30 September 2023 271,924 86,306 358,230
Net Book Value
As at 30 September 2023 1,347,165 37,992 1,385,157
As at 1 October 2022 1,374,660 40,376 1,415,036
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Amounts owed by participating interests 79,920 79,920
Other debtors 71,509 71,501
151,429 151,421
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 120,509 118,121
Other creditors 24,768 3,975
Taxation and social security 152,097 133,130
297,374 255,226
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 613,473 687,805
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 104 104
Page 5