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Company No: 10005582 (England and Wales)

BLUE SUNRISE CARE LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

BLUE SUNRISE CARE LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

BLUE SUNRISE CARE LIMITED

BALANCE SHEET

As at 29 February 2024
BLUE SUNRISE CARE LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 45,395 60,528
Tangible assets 4 37,823 46,831
83,218 107,359
Current assets
Stocks 750 750
Debtors 5 20,311 228,335
Cash at bank and in hand 155,738 22,754
176,799 251,839
Creditors: amounts falling due within one year 6 ( 117,123) ( 75,762)
Net current assets 59,676 176,077
Total assets less current liabilities 142,894 283,436
Creditors: amounts falling due after more than one year 7 ( 13,460) ( 51,533)
Provision for liabilities 8 ( 9,358) ( 11,642)
Net assets 120,076 220,261
Capital and reserves
Called-up share capital 2 2
Profit and loss account 120,074 220,259
Total shareholder's funds 120,076 220,261

For the financial 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.

Directors' responsibilities:

The financial statements of Blue Sunrise Care Limited (registered number: 10005582) were approved and authorised for issue by the Board of Directors on 11 October 2024. They were signed on its behalf by:

J M Edwards
Director
Dr P J Edwards
Director
BLUE SUNRISE CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
BLUE SUNRISE CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blue Sunrise Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Compton View Residential Home, 267 St Michaels Avenue, Yeovil, Somerset, BA21 4NB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts received or receivable for the provision of services to the extent that there is a right to consideration and is recorded at the value of consideration due at the balance sheet date.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks consist of consumable goods and are stated at cost. Cost is determined using the first-in, first-out (FIFO) method.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 27 26

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 March 2023 151,325 151,325
At 29 February 2024 151,325 151,325
Accumulated amortisation
At 01 March 2023 90,797 90,797
Charge for the financial year 15,133 15,133
At 29 February 2024 105,930 105,930
Net book value
At 29 February 2024 45,395 45,395
At 28 February 2023 60,528 60,528

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 March 2023 129,830 2,290 132,120
Additions 0 481 481
At 29 February 2024 129,830 2,771 132,601
Accumulated depreciation
At 01 March 2023 83,584 1,705 85,289
Charge for the financial year 9,249 240 9,489
At 29 February 2024 92,833 1,945 94,778
Net book value
At 29 February 2024 36,997 826 37,823
At 28 February 2023 46,246 585 46,831

5. Debtors

2024 2023
£ £
Trade debtors 4,457 8,975
Amounts owed by Group undertakings 0 75,326
Prepayments and accrued income 15,854 10,734
Other debtors 0 133,300
20,311 228,335

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 38,073 34,842
Trade creditors 3,433 2,441
Amounts owed to Group undertakings 19,294 0
Amounts owed to directors 301 0
Accruals 14,858 10,347
Corporation tax 34,490 23,641
Other taxation and social security 5,789 3,871
Other creditors 885 620
117,123 75,762

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 13,460 51,533

Within bank loans is a balance of £51,533 (2023 - £86,375) relating to an outstanding amount due from a Coronavirus Business Interruption Loan. The UK government have guaranteed 80% of the value of the loan.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 9,358 11,642

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 54,000 54,000
between one and five years 216,000 216,000
after five years 486,000 540,000
756,000 810,000

This relates to a non-cancellable operating lease over the property.

Other financial commitments

2024 2023
£ £
Commitments in respect of parents and subsidiaries 1,705,749 1,753,116

The company, together with other group companies, is party to a cross guarantee against its parent's bank borrowing. The guarantee includes a fixed and floating charge over all assets of the company.

10. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.

11. Ultimate controlling party

The company's immediate parent is Mortarbuy Limited, incorporated in England and Wales. Its registered office address is Hendford Manor, Hendford, Yeovil, Somerset, BA20 1UN.

These financial statements are available upon request from Companies House, Cardiff.