Registered number
04905065
Redholme Memory Care Ltd
Unaudited Filleted Accounts
31 December 2023
Redholme Memory Care Ltd
Registered number: 04905065
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 129,394 182,731
Current assets
Debtors 5 273,504 233,051
Cash at bank and in hand 239,481 289,476
512,985 522,527
Creditors: amounts falling due within one year 6 (77,104) (92,286)
Net current assets 435,881 430,241
Total assets less current liabilities 565,275 612,972
Creditors: amounts falling due after more than one year 7 (15,833) (24,931)
Net assets 549,442 588,041
Capital and reserves
Called up share capital 1,002 1,002
Profit and loss account 548,440 587,039
Shareholders' funds 549,442 588,041
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.
Mrs A McCann
Director
Approved by the board on 24 September 2024
Redholme Memory Care 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property improvements over 15 years
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 25% reducing balance
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.
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 59 51
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 643,045
At 31 December 2023 643,045
Amortisation
At 1 January 2023 643,045
At 31 December 2023 643,045
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Improvements to Leasehold Property Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 294,075 242,298 81,283 617,656
Disposals - - (28,616) (28,616)
At 31 December 2023 294,075 242,298 52,667 589,040
Depreciation
At 1 January 2023 144,385 231,975 58,565 434,925
Charge for the year 30,443 2,098 924 33,465
On disposals - - (8,744) (8,744)
At 31 December 2023 174,828 234,073 50,745 459,646
Net book value
At 31 December 2023 119,247 8,225 1,922 129,394
At 31 December 2022 149,690 10,323 22,718 182,731
5 Debtors 2023 2022
£ £
Trade debtors 213,851 179,126
Other debtors 59,653 53,925
273,504 233,051
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 20,255 24,944
Taxation and social security costs 35,522 50,793
Other creditors 11,327 6,549
77,104 92,286
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,833 24,931
8 Related party transactions
At 31 December 2023, Redholme Memory Care Ltd is owed £59,652 (2022 - £33,023) by Redholme Properties Ltd . Both companies are under common control.
9 Other information
Redholme Memory Care Ltd is a private company limited by shares and incorporated in England. Its registered office is:
11 Carnatic Road
Mossley Hill
Liverpool
L18 8BY
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