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Registration number: 08219265

Safe Harbour Homecare Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Safe Harbour Homecare Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Safe Harbour Homecare Limited

Company Information

Director

J Barry

Registered office

3 Park House
Park Road
Petersfield
Hampshire
GU32 3DL

Accountants

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Safe Harbour Homecare Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Safe Harbour Homecare Limited for the year ended 31 May 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Safe Harbour Homecare Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Safe Harbour Homecare Limited and state those matters that we have agreed to state to the Board of Directors of Safe Harbour Homecare Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Safe Harbour Homecare Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Safe Harbour Homecare Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Safe Harbour Homecare Limited. You consider that Safe Harbour Homecare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Safe Harbour Homecare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

27 August 2024

 

Safe Harbour Homecare Limited

(Registration number: 08219265)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,563

102

Current assets

 

Debtors

6

401,473

447,874

Cash at bank and in hand

 

581,093

317,834

 

982,566

765,708

Creditors: Amounts falling due within one year

7

(212,008)

(115,286)

Net current assets

 

770,558

650,422

Total assets less current liabilities

 

772,121

650,524

Creditors: Amounts falling due after more than one year

7

(10,580)

(21,354)

Net assets

 

761,541

629,170

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

761,441

629,070

Shareholders' funds

 

761,541

629,170

For the financial 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.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2024
 

.........................................
J Barry
Director

 

Safe Harbour Homecare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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:
3 Park House
Park Road
Petersfield
Hampshire
GU32 3DL

These financial statements were authorised for issue by the director on 27 August 2024.

2

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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.

Tax

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

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.

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:

 

Safe Harbour Homecare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Fixtures and Fittings

25% Straight Line

Motor Vehicles

25% Straight Line

Office Equipment

33% Straight Line

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.

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.

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.

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.

 

Safe Harbour Homecare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 34 (2023 - 32).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

871

901

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

5,359

13,495

18,854

Additions

2,332

-

2,332

At 31 May 2024

7,691

13,495

21,186

Depreciation

At 1 June 2023

5,257

13,495

18,752

Charge for the year

871

-

871

At 31 May 2024

6,128

13,495

19,623

Carrying amount

At 31 May 2024

1,563

-

1,563

At 31 May 2023

102

-

102

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

11,058

20,961

Amounts owed by related parties

10

107,280

97,786

Other debtors

 

283,135

329,127

   

401,473

447,874

 

Safe Harbour Homecare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,469

10,054

Trade creditors

 

676

429

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

99,226

-

Taxation and social security

 

51,508

21,318

Accruals and deferred income

 

44,546

42,553

Other creditors

 

5,583

40,932

 

212,008

115,286

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

10,580

21,354

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,580

21,354

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,469

10,054

 

Safe Harbour Homecare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

10

Related party transactions

Transactions with the director

2024

At 1 June 2023
£

At 31 May 2024
£

J Barry

Balance owing (to)/from director

140,790

140,790

2023

At 1 June 2022
£

At 31 May 2023
£

J Barry

Balance owing (to)/from director

140,790

140,790

Summary of transactions with other related parties


Safe Harbour Homecare Limited is 100% owned and controlled by Platinum Care Solutions Group Limited. The balance owing from the parent company at the year-end is £107,210 (2023: £93,210).

The balance owed to Safe Harbour Homecare Limited at the year end from companies under common ownership is:
Acre Care Limited £70 (2023: £0)

The balance owed from Safe Harbour Homecare Limited at the year end from companies under common ownership is:
Platinum Care Solutions Limited £99,226 (2023: -£4,574.72).