Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrue2023-01-01children's care home1715trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05480587 2023-01-01 2023-12-31 05480587 2022-01-01 2022-12-31 05480587 2023-12-31 05480587 2022-12-31 05480587 2022-01-01 05480587 c:Director1 2023-01-01 2023-12-31 05480587 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 05480587 d:Buildings d:ShortLeaseholdAssets 2023-12-31 05480587 d:Buildings d:ShortLeaseholdAssets 2022-12-31 05480587 d:FurnitureFittings 2023-01-01 2023-12-31 05480587 d:FurnitureFittings 2023-12-31 05480587 d:FurnitureFittings 2022-12-31 05480587 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05480587 d:OfficeEquipment 2023-01-01 2023-12-31 05480587 d:OfficeEquipment 2023-12-31 05480587 d:OfficeEquipment 2022-12-31 05480587 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05480587 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05480587 d:CurrentFinancialInstruments 2023-12-31 05480587 d:CurrentFinancialInstruments 2022-12-31 05480587 d:Non-currentFinancialInstruments 2023-12-31 05480587 d:Non-currentFinancialInstruments 2022-12-31 05480587 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05480587 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05480587 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05480587 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05480587 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 05480587 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 05480587 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 05480587 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 05480587 d:ShareCapital 2023-12-31 05480587 d:ShareCapital 2022-12-31 05480587 d:RetainedEarningsAccumulatedLosses 2023-12-31 05480587 d:RetainedEarningsAccumulatedLosses 2022-12-31 05480587 c:FRS102 2023-01-01 2023-12-31 05480587 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05480587 c:FullAccounts 2023-01-01 2023-12-31 05480587 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05480587 2 2023-01-01 2023-12-31 05480587 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number:  05480587














MILESTONES CARE HOMES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


 
MILESTONES CARE HOMES LTD
REGISTERED NUMBER: 05480587

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,695
13,300

  
11,695
13,300

Current assets
  

Debtors: amounts falling due after more than one year
 5 
84,425
52,309

Debtors: amounts falling due within one year
 5 
395,679
402,614

Cash at bank and in hand
 6 
41
48,158

  
480,145
503,081

Creditors: amounts falling due within one year
 7 
(323,504)
(270,954)

Net current assets
  
 
 
156,641
 
 
232,127

Total assets less current liabilities
  
168,336
245,427

Creditors: amounts falling due after more than one year
 8 
(11,430)
(18,156)

  

Net assets
  
156,906
227,271


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
156,806
227,171

  
156,906
227,271


Page 1

 
MILESTONES CARE HOMES LTD
REGISTERED NUMBER: 05480587
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M C Armstrong
Director

Date: 25 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MILESTONES CARE HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.05480587). The address of the registered office is 32 Fieldway, Maghull, Merseyside, L31 5NB.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of a children's care home.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MILESTONES CARE HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MILESTONES CARE HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
5%
On cost
Fixtures and fittings
-
25%
On cost
Office equipment
-
25%
On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 15).

Page 5

 
MILESTONES CARE HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold improve-ments
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
15,950
39,544
2,300
57,794



At 31 December 2023

15,950
39,544
2,300
57,794



Depreciation


At 1 January 2023
3,457
38,738
2,300
44,495


Charge for the year on owned assets
798
806
-
1,604



At 31 December 2023

4,255
39,544
2,300
46,099



Net book value



At 31 December 2023
11,695
-
-
11,695



At 31 December 2022
12,493
806
1
13,300


5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
84,425
52,309

84,425
52,309


2023
2022
£
£

Due within one year

Trade debtors
64,939
60,503

Other debtors
330,740
342,111

395,679
402,614


Page 6

 
MILESTONES CARE HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
41
48,158

Less: bank overdrafts
(8,390)
-

(8,349)
48,158



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
8,390
-

Bank loans
7,828
8,221

Trade creditors
2,436
2,064

Corporation tax
169,182
150,744

Other taxation and social security
73,124
105,312

Other creditors
41,842
4,613

Accruals and deferred income
20,702
-

323,504
270,954



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
11,430
18,156

11,430
18,156


Page 7

 
MILESTONES CARE HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,828
8,221

Amounts falling due 1-2 years

Bank loans
8,026
8,220

Amounts falling due 2-5 years

Bank loans
3,404
9,936


19,258
26,377



10.


Deferred taxation


2022


£






At beginning of year
(916)


Charged to profit or loss
916



At end of year
-


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,721 (2022 - £5,504). The amount payable into the scheme at the balance sheet date was £6,447 (2022: £2,444) and is included in creditors.


12.


Related party transactions

Included in other debtors is an amount owed of £324,795 (2022: £342,110) from M C Armstrong, a director. The loan is repayable on demand.


13.


Controlling party

The ultimate controlling party is M C Armstrong by virtue of his shareholding.

 
Page 8