17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 485,604 485,604 xbrli:pure xbrli:shares iso4217:GBP 07421669 2023-03-01 2024-02-29 07421669 2024-02-29 07421669 2023-02-28 07421669 2022-03-01 2023-02-28 07421669 2023-02-28 07421669 2022-02-28 07421669 core:FurnitureFittings 2023-03-01 2024-02-29 07421669 core:MotorVehicles 2023-03-01 2024-02-29 07421669 bus:Director1 2023-03-01 2024-02-29 07421669 core:NetGoodwill 2024-02-29 07421669 core:FurnitureFittings 2023-02-28 07421669 core:MotorVehicles 2023-02-28 07421669 core:FurnitureFittings 2024-02-29 07421669 core:MotorVehicles 2024-02-29 07421669 core:WithinOneYear 2024-02-29 07421669 core:WithinOneYear 2023-02-28 07421669 core:ShareCapital 2024-02-29 07421669 core:ShareCapital 2023-02-28 07421669 core:RetainedEarningsAccumulatedLosses 2024-02-29 07421669 core:RetainedEarningsAccumulatedLosses 2023-02-28 07421669 core:FurnitureFittings 2023-02-28 07421669 core:MotorVehicles 2023-02-28 07421669 bus:SmallEntities 2023-03-01 2024-02-29 07421669 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07421669 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07421669 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07421669 bus:FullAccounts 2023-03-01 2024-02-29 07421669 core:NetGoodwill 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 07421669
Sienna Care Limited
Filleted Unaudited Financial Statements
29 February 2024
Sienna Care Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
89,555
98,570
Current assets
Debtors
7
425,890
442,398
Cash at bank and in hand
74,510
20,498
---------
---------
500,400
462,896
Creditors: amounts falling due within one year
8
22,483
46,015
---------
---------
Net current assets
477,917
416,881
---------
---------
Total assets less current liabilities
567,472
515,451
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
567,470
515,449
---------
---------
Shareholders funds
567,472
515,451
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 September 2024 , and are signed on behalf of the board by:
Nishit Patel
Director
Company registration number: 07421669
Sienna Care Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sovereign House, Graham Road, Harrow, HA3 5RF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
20% reducing balance
-
20% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
485,604
---------
Amortisation
At 1 March 2023 and 29 February 2024
485,604
---------
Carrying amount
At 29 February 2024
---------
At 28 February 2023
---------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
166,993
43,465
30,302
240,760
Additions
5,124
6,249
11,373
---------
--------
--------
---------
At 29 February 2024
172,117
43,465
36,551
252,133
---------
--------
--------
---------
Depreciation
At 1 March 2023
104,956
17,667
19,567
142,190
Charge for the year
12,433
5,160
2,795
20,388
---------
--------
--------
---------
At 29 February 2024
117,389
22,827
22,362
162,578
---------
--------
--------
---------
Carrying amount
At 29 February 2024
54,728
20,638
14,189
89,555
---------
--------
--------
---------
At 28 February 2023
62,037
25,798
10,735
98,570
---------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
9,306
25,814
Other debtors
416,584
416,584
---------
---------
425,890
442,398
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
18,903
Corporation tax
19,483
24,112
Other creditors
3,000
3,000
--------
--------
22,483
46,015
--------
--------
9. Related party transactions
Santander bank has loaned N Patel funds for the purchase of the assets utilised by the company, including the trading premises and goodwill, and in turn N Patel, has injected these funds into the company. Santander bank has the following charge secured on the company assets: all monies due or to become due from the company to the charge on any account whatsoever ie fixed and floating charges over the undertaking and all property and assets present and future including goodwill book debts uncalled capital buildings fixtures plant and machinery. The company paid rent of £48,000 for use of the trading premises, to N Patel, who is a director and shaheholder of Sienna Care Limited . Other debtors include £ 180,000 (2023: £ 180,000) loaned to Anassa Corporation Limited a company in which the spouse of Nishit Patel is a director. The loan is interst free and repayable on demand. Other debtors include £ 236,584 (2023: £ 236,584) loaned to Ani Lifestyle Limited a company in which the spouse of Nishit Patel is a director. The loan is interst free and repayable on demand.