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Registered number: 04876906
Cedars Care Group Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Beever & Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Director Mr T Yilmaz
Company Number 04876906
Registered Office The Coach House
21a Chambres Road
Southport
Merseyside
PR8 6JG
Accountants Beever & Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Page 1
Page 2
Balance Sheet
Registered number: 04876906
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 507,031 520,856
Investments 5 100 100
507,131 520,956
CURRENT ASSETS
Debtors 6 4,565,786 4,707,297
Cash at bank and in hand 110 135
4,565,896 4,707,432
Creditors: Amounts Falling Due Within One Year 7 (250,338 ) (313,935 )
NET CURRENT ASSETS (LIABILITIES) 4,315,558 4,393,497
TOTAL ASSETS LESS CURRENT LIABILITIES 4,822,689 4,914,453
Creditors: Amounts Falling Due After More Than One Year 8 (4,606,585 ) (4,755,642 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (231 ) (3,608 )
NET ASSETS 215,873 155,203
CAPITAL AND RESERVES
Called up share capital 11 125,000 125,000
Share premium account 23,000 23,000
Profit and Loss Account 67,873 7,203
SHAREHOLDERS' FUNDS 215,873 155,203
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors and authorised for issue on 3 October 2024 and were signed on its behalf by:
Mr T Yilmaz
Director
3 October 2024
The notes on pages 4 to 8 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Cedars Care Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04876906 . The registered office is The Coach House, 21a Chambres Road, Southport, Merseyside, PR8 6JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
The turnover shown in the profit and loss account represents the fair value of the consideration received during the year for services.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is recognised at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight line
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straighht line
The gain or loss on disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charges to profit or loss.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. 
Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party tothe contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, whenthere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on anet basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured attransaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in theassets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initiallyrecognised at transaction price unless the arrangement constitutes a financing transaction, where the debtinstrument is measured at the present value of the future payments discounted at a market rate of interest.Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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2.10. Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement
are classified as jointly controlled entities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 426,599 261,284 687,883
Additions - 21,561 21,561
As at 31 March 2024 426,599 282,845 709,444
Depreciation
As at 1 April 2023 64,996 102,031 167,027
Provided during the period 8,532 26,854 35,386
As at 31 March 2024 73,528 128,885 202,413
Net Book Value
As at 31 March 2024 353,071 153,960 507,031
As at 1 April 2023 361,603 159,253 520,856
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
as restated
£ £
Motor Vehicles 113,462 128,846
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5. Investments
Subsidiaries
£
Cost
As at 1 April 2023 100
As at 31 March 2024 100
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 100
As at 1 April 2023 100
Details of the company's subsidiaries at 31 March 2024 are as follows:
Name of undertaking       Registered           Nature of business   Class of               % Held
                                          office                                                     shares held       Direct   Indirect
Cedar Grange Limited          England & Wales   Care Services              Ordinary            100.00          - 
6. Debtors
2024 2023
as restated
£ £
Due within one year
Amounts owed by group undertakings 720,705 644,247
Other debtors 3,845,081 4,063,050
4,565,786 4,707,297
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 20,128 20,503
Trade creditors 29,841 52,352
Bank loans and overdrafts 171,184 219,756
Other creditors 23,894 11,044
Taxation and social security 5,291 10,280
250,338 313,935
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 74,151 91,361
Bank loans 4,532,434 4,664,281
4,606,585 4,755,642
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9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 94,279 111,864
Bank loans and overdrafts 4,703,618 4,884,037
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
as restated
£ £
Accelerated capital allowances 4,773 3,608
Tax losses carried forward (3,944 ) -
Other timing differences (598) -
231 3,608
11. Share Capital
2024 2023
as restated
Allotted, called up and fully paid £ £
125,000 Ordinary Shares of £ 1 each 125,000 125,000
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Tayfun Yilmaz 61,978 81,719 62,344 - 81,719
Mrs Sarah Yilmaz - 37,535 - - 37,535
The above loans are unsecured, subject to 2% interest and repayable on demand.
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