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Company registration number: 07666442

Peak Home Care Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Peak Home Care Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 10

 

Peak Home Care Limited

Company Information

Directors

Mr J Cattee

Mr T Cattee

Mr P Cattee

Registered office

11 Manchester Road
Walkden
Manchester
M28 3NS

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Peak Home Care Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Peak Home Care Limited for the year ended 31 December 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Peak Home Care 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 Peak Home Care Limited and state those matters that we have agreed to state to the Board of Directors of Peak Home Care Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peak Home Care Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Peak Home Care 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 loss of Peak Home Care Limited. You consider that Peak Home Care 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 Peak Home Care 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.

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

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

19 September 2024

 

Peak Home Care Limited

(Registration number: 07666442)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

88,878

118,504

Tangible assets

5

118,536

7,680

Investments

6

1

1

 

207,415

126,185

Current assets

 

Debtors

7

696,540

732,836

Cash at bank and in hand

 

99,425

86,491

 

795,965

819,327

Creditors: Amounts falling due within one year

8

(200,262)

(131,526)

Net current assets

 

595,703

687,801

Total assets less current liabilities

 

803,118

813,986

Creditors: Amounts falling due after more than one year

8

(105,429)

-

Provisions for liabilities

(2,527)

(923)

Net assets

 

695,162

813,063

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

694,162

812,063

Shareholders' funds

 

695,162

813,063

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.

 

Peak Home Care Limited

(Registration number: 07666442)
Balance Sheet as at 31 December 2023

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

.........................................
Mr J Cattee
Director

   
     
 

Peak Home Care Limited

Notes to the 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 & Wales.

The address of its registered office is:
11 Manchester Road
Walkden
Manchester
M28 3NS
England

The principal place of business is:
Peak Home Care
Raincliffe House
Brampton
Chesterfield
S40 1DU

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 are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company was, at the end of the year a wholly-owned subsidiary of another company incorporated in the EEA and in accordance with Section 400 of the Companies Act 2006, is not required to produce, and has not published, consolidated accounts.

Revenue recognition

Turnover comprises the fair value of the sale of goods and services. Sales of goods and services are recognised when the goods and services have been delivered to the customer.

Government grants

Government grants are accounted for using the accruals model under FRS102. Government grants, in respect of the Coronavirus Job Retention Scheme, are included in the period to which the grant relates.

 

Peak Home Care Limited

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

Taxation

The tax expense for the period comprises current and deferred tax.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

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

All tangible assets are initially recorded at cost.

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 assets as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings and Equipment

25% reducing balance & 10% straight line

Motor Vehicles

25% reducing balance

Computer Equipment

25% straight line

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful life up to a maximum of 10 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

Amortisation

The amortisation is revised prospectively, to reflect new estimates, if there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset. Amortisation is calculated so as to write off the cost of an asset, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Amortisation

10% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

 

Peak Home Care Limited

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

Leases

Rentals applicable to operating leases where substantially all of the risks and rewards of ownership are retained by the lessor are are classified as operating leases. Payments made under operating leases are charged to proft and loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2022 - 51).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

296,260

296,260

At 31 December 2023

296,260

296,260

Amortisation

At 1 January 2023

177,756

177,756

Amortisation charge

29,626

29,626

At 31 December 2023

207,382

207,382

Carrying amount

At 31 December 2023

88,878

88,878

At 31 December 2022

118,504

118,504

 

Peak Home Care Limited

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

5

Tangible assets

Fixtures, fittings and equipment
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

38,614

16,208

4,200

59,022

Additions

-

-

151,288

151,288

At 31 December 2023

38,614

16,208

155,488

210,310

Depreciation

At 1 January 2023

36,531

12,973

1,838

51,342

Charge for the year

521

1,498

38,413

40,432

At 31 December 2023

37,052

14,471

40,251

91,774

Carrying amount

At 31 December 2023

1,562

1,737

115,237

118,536

At 31 December 2022

2,083

3,235

2,362

7,680

6

Investments

2023
£

2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost

At 1 January 2023

178,549

Impairment

At 1 January 2023

178,548

Carrying amount

At 31 December 2023

1

At 31 December 2022

1

The above represents the investment in Pegasus Care Limited, a company that is dormant.

 

Peak Home Care Limited

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

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

34,380

82,565

Amounts owed by group undertakings

10

629,814

629,814

Other debtors

 

32,346

20,457

 

696,540

732,836

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

9,062

-

Trade creditors

10,999

3,971

Taxation and social security

10,220

17,796

Accruals and deferred income

99,981

59,759

Other creditors

70,000

50,000

200,262

131,526

Creditors include net obligations under finance lease and hire purchase contracts of £9,062 (2022 - £Nil) secured on the assets which they finance.

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

105,429

-

Creditors include net obligations under finance lease and hire purchase contracts of £105,429 (2022 - £Nil) secured on the assets which they finance.

9

Commitments under operating leases

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £33,750 (2022 - £Nil). This represents total commitments under non-cancellable leases.

 

Peak Home Care Limited

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

10

Related party transactions

Summary of transactions with parent

At the balance sheet date the amount due from the parent company was £629,814 (2022 - £629,814).
 

Summary of transactions with other related parties

At the year end the company owed P & A J Cattee (Wholesale) Ltd and PCT Healthcare Ltd £30,000 and £40,000, respectively. Mr J Cattee and Mr P Cattee are materially interesed in both companies. (2022 - £30,000 and £20,000 respectively).
 

11

Controlling party

The company is a wholly owned subsidiary of TJA Care Limited. The registered office of TJA Care Limited is 11 Manchester Road, Walkden, Manchester, M28 3NS.