Foxglove Supported Living Limited 09596301 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is provision of supported living services Digita Accounts Production Advanced 6.30.9574.0 true true 09596301 2023-04-01 2024-03-31 09596301 2024-03-31 09596301 bus:Director2 1 2024-03-31 09596301 bus:OrdinaryShareClass1 2024-03-31 09596301 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 09596301 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 09596301 core:CurrentFinancialInstruments 2024-03-31 09596301 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09596301 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09596301 core:FurnitureFittingsToolsEquipment 2024-03-31 09596301 core:MotorVehicles 2024-03-31 09596301 bus:SmallEntities 2023-04-01 2024-03-31 09596301 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09596301 bus:FilletedAccounts 2023-04-01 2024-03-31 09596301 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09596301 bus:RegisteredOffice 2023-04-01 2024-03-31 09596301 bus:Director2 2023-04-01 2024-03-31 09596301 bus:Director2 1 2023-04-01 2024-03-31 09596301 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09596301 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09596301 bus:Agent1 2023-04-01 2024-03-31 09596301 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09596301 core:MotorVehicles 2023-04-01 2024-03-31 09596301 core:OfficeEquipment 2023-04-01 2024-03-31 09596301 countries:AllCountries 2023-04-01 2024-03-31 09596301 bus:Director2 1 2023-03-31 09596301 2022-04-01 2023-03-31 09596301 2023-03-31 09596301 bus:Director2 1 2023-03-31 09596301 bus:OrdinaryShareClass1 2023-03-31 09596301 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 09596301 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 09596301 core:CurrentFinancialInstruments 2023-03-31 09596301 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09596301 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09596301 bus:Director2 1 2022-04-01 2023-03-31 09596301 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09596301

Foxglove Supported Living Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Foxglove Supported Living Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Foxglove Supported Living Limited

Company Information

Director

J Leigh-Thompson

Registered office

96-98 Church Street
Hull
HU7 4TD

Bankers

The Co-Operative Bank
22 Alfred Gelder Street
Hull
HU1 2BS

 

Foxglove Supported Living Limited

(Registration number: 09596301)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,789

-

Current assets

 

Debtors

5

322,461

322,339

Cash at bank and in hand

 

215,239

88,021

 

537,700

410,360

Creditors: Amounts falling due within one year

6

(99,731)

(86,320)

Net current assets

 

437,969

324,040

Total assets less current liabilities

 

488,758

324,040

Creditors: Amounts falling due after more than one year

6

(39,935)

-

Provisions for liabilities

(12,697)

-

Net assets

 

436,126

324,040

Capital and reserves

 

Called up share capital

7

100

50

Capital redemption reserve

50

50

Retained earnings

435,976

323,940

Shareholders' funds

 

436,126

324,040

For the financial year ending 31 March 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 14 August 2024
 

.........................................
J Leigh-Thompson
Director

 

Foxglove Supported Living Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
96-98 Church Street
Hull
HU7 4TD

These financial statements were authorised for issue by the director on 14 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Foxglove Supported Living Limited

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

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

Motor Vehicles

20% Reducing balance

Office Equipment

15% 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.

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.

Leases

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.

 

Foxglove Supported Living Limited

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

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 70 (2023 - 52).

 

Foxglove Supported Living Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,950

55,317

57,267

At 31 March 2024

1,950

55,317

57,267

Depreciation

Charge for the year

24

6,454

6,478

At 31 March 2024

24

6,454

6,478

Carrying amount

At 31 March 2024

1,926

48,863

50,789

5

Debtors

Current

2024
£

2023
£

Trade debtors

117,603

54,710

Prepayments

-

87,677

Other debtors

204,858

179,952

 

322,461

322,339

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,500

-

Trade creditors

 

4,687

17,902

Taxation and social security

 

76,504

60,150

Accruals and deferred income

 

4,400

4,000

Other creditors

 

6,640

4,268

 

99,731

86,320

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £7,500 (2023 - £-).

 

Foxglove Supported Living Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

39,935

-

2024
£

2023
£

Due after more than five years

-

-

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £39,935 (2023 - £-).

The hire purchase contracts are secured against the assets they fund.

The aggregate amount of secured liabilities totals £47,435 (2023 - £-).

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

39,935

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,500

-

9

Related party transactions

Transactions with the Director

2024

At 1 April 2023
£

Advances to Director
£

Repayments by Director
£

At 31 March 2024
£

J Leigh-Thompson

Directors Loan

52,988

15,676

(6,312)

62,352

 

Foxglove Supported Living Limited

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

2023

At 1 April 2022
£

Advances to Director
£

Repayments by Director
£

At 31 March 2023
£

J Leigh-Thompson

Directors Loan

14

61,286

(8,312)

52,988