Company registration number:
Peak Home Care Limited
for the Year Ended 31 December 2023
Peak Home Care Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Peak Home Care Limited
Company Information
Directors |
Mr J Cattee Mr T Cattee Mr P Cattee |
Registered office |
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Accountants |
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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.
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Chartered Certified Accountants
St. Helens
Merseyside
WA9 1UA
Peak Home Care Limited
(Registration number: 07666442)
Balance Sheet as at 31 December 2023
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2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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
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Peak Home Care Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
The principal place of business is:
Peak Home Care
Raincliffe House
Brampton
Chesterfield
S40 1DU
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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Amortisation charge |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Peak Home Care Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Fixtures, fittings and equipment |
Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
- |
- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost |
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At 1 January 2023 |
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Impairment |
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At 1 January 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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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
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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- |
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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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 |
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Due after one year |
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Loans and borrowings |
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- |
Creditors include net obligations under finance lease and hire purchase contracts of £105,429 (2022 - £Nil) secured on the assets which they finance.
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 £
Peak Home Care Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Summary of transactions with parent
Summary of transactions with other related parties
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.