Registered number
10583479
MILLINGTON SPRINGS CARE CENTRE LTD
Filleted Accounts
31 December 2023
MILLINGTON SPRINGS CARE CENTRE LTD
Registered number: 10583479
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 313,951 313,830
Cash at bank and in hand 18,656 5,035
332,607 318,865
Creditors: amounts falling due within one year 4 (326,581) (434,224)
Net current assets/(liabilities) 6,026 (115,359)
Total assets less current liabilities 6,026 (115,359)
Creditors: amounts falling due after more than one year 5 (758,546) (739,155)
Net liabilities (752,520) (854,514)
Capital and reserves
Called up share capital 100 100
Profit and loss account (752,620) (854,614)
Shareholders' funds (752,520) (854,514)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Bilbinder Rai
Director
Approved by the board on 13 September 2024
MILLINGTON SPRINGS CARE CENTRE LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 37 33
3 Debtors 2023 2022
£ £
Trade debtors (30,216) -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 313,000 300,000
Other debtors 31,167 13,830
313,951 313,830
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,133 10,863
Trade creditors 4,104 24,076
Taxation and social security costs 135,580 154,521
Other creditors 176,764 244,764
326,581 434,224
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,403 23,312
Amounts owed to group undertakings and undertakings in which the company has a participating interest 739,143 715,843
758,546 739,155
6 Other information
MILLINGTON SPRINGS CARE CENTRE LTD is a private company limited by shares and incorporated in England. Its registered office is:
398 Carlton Hill
Carlton
Nottingham
England
NG4 1JA
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