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REGISTERED NUMBER: 02969105 (England and Wales)














Unaudited Financial Statements

for the Period 1 October 2022 to 31 December 2023

for

Suitecare Limited

Suitecare Limited (Registered number: 02969105)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Suitecare Limited

Company Information
for the Period 1 October 2022 to 31 December 2023







DIRECTORS: L G Colam
Mrs R A Colam





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





BUSINESS ADDRESS: Wallsend Industrial Estate
Cattedown Road
Cattedown
Plymouth
PL4 0RW





REGISTERED NUMBER: 02969105 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Suitecare Limited (Registered number: 02969105)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,247,309 1,945,870

CURRENT ASSETS
Debtors 5 372,381 591,927
Cash at bank 41,644 66,431
414,025 658,358
CREDITORS
Amounts falling due within one year 6 71,398 46,700
NET CURRENT ASSETS 342,627 611,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,589,936

2,557,528

PROVISIONS FOR LIABILITIES 9,140 9,140
NET ASSETS 2,580,796 2,548,388

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 470,368 470,368
Retained earnings 7 2,110,426 2,078,018
SHAREHOLDERS' FUNDS 2,580,796 2,548,388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Suitecare Limited (Registered number: 02969105)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mrs R A Colam - Director


Suitecare Limited (Registered number: 02969105)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 December 2023

1. STATUTORY INFORMATION

Suitecare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the invoice value of rent and service charges provided inclusive of value added tax during the year.

Bank and other interest is recognised in the period in which it was received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Value added tax
The company is not registered for VAT and all expenditure is therefore stated inclusive of VAT where applicable.

Investment properties
Interest in investment properties is stated at an open market valuation with no depreciation being provided, in accordance with Financial Reporting Standard 102 Section 1A.

Suitecare Limited (Registered number: 02969105)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Going concern
The company's financial statements for the period ended 31 December 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
properties property fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2022 1,902,104 - 51,490 1,953,594
Additions - 284,867 26,591 311,458
At 31 December 2023 1,902,104 284,867 78,081 2,265,052
DEPRECIATION
At 1 October 2022 - - 7,724 7,724
Charge for period - - 10,019 10,019
At 31 December 2023 - - 17,743 17,743
NET BOOK VALUE
At 31 December 2023 1,902,104 284,867 60,338 2,247,309
At 30 September 2022 1,902,104 - 43,766 1,945,870

Cost or valuation at 31 December 2023 is represented by:

Improvements Fixtures
Freehold to and
properties property fittings Totals
£    £    £    £   
Valuation in 2002 638,000 - - 638,000
Valuation in 2006 404,250 - - 404,250
Valuation in 2013 (100,000 ) - - (100,000 )
Valuation in 2015 (464,936 ) - - (464,936 )
Cost 1,424,790 284,867 78,081 1,787,738
1,902,104 284,867 78,081 2,265,052

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,424,790 1,424,790

Suitecare Limited (Registered number: 02969105)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

One of the properties was valued by Vickery Holman on a Market Value basis with an effective valuation date of 16 September 2015.

The director does not consider the value of the all properties at 31 December 2023 to be materially different from that stated in the financial statements..

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 54,221 67,994
Other debtors 198,160 403,933
252,381 471,927

Amounts falling due after more than one year:
Other debtors 120,000 120,000

Aggregate amounts 372,381 591,927

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,543 -
Taxation and social security 14,823 4,870
Other creditors 44,032 41,830
71,398 46,700

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2022 2,078,018 470,368 2,548,386
Profit for the period 87,908 87,908
Dividends (55,500 ) (55,500 )
At 31 December 2023 2,110,426 470,368 2,580,794