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Registered number: 06222799
The Elms Residential Care Home Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Devonports LAS Accountants Ltd
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06222799
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 42,000 56,000
Tangible Assets 5 497,248 478,202
539,248 534,202
CURRENT ASSETS
Debtors 6 53,082 28,215
Cash at bank and in hand 166,333 142,767
219,415 170,982
Creditors: Amounts Falling Due Within One Year 7 (46,614 ) (68,870 )
NET CURRENT ASSETS (LIABILITIES) 172,801 102,112
TOTAL ASSETS LESS CURRENT LIABILITIES 712,049 636,314
Creditors: Amounts Falling Due After More Than One Year 8 (246,640 ) (243,785 )
NET ASSETS 465,409 392,529
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 465,309 392,429
SHAREHOLDERS' FUNDS 465,409 392,529
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Page 2
For the year ending 31 August 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.
On behalf of the board
Mr Paul Godfrey
Director
28/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Elms Residential Care Home Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06222799 . The registered office is LAS Partnership, The Rivendell Centre, White Horse Lane, Maldon, Essex, CM9 5QP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided 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 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 34)
34 34
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 280,000
As at 31 August 2024 280,000
Amortisation
As at 1 September 2023 224,000
Provided during the period 14,000
As at 31 August 2024 238,000
Net Book Value
As at 31 August 2024 42,000
As at 1 September 2023 56,000
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5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 474,264 39,813 10,354 524,431
Additions - 55,780 - 55,780
Disposals - (19,036 ) - (19,036 )
As at 31 August 2024 474,264 76,557 10,354 561,175
Depreciation
As at 1 September 2023 19,002 20,777 6,450 46,229
Provided during the period 3,167 13,945 586 17,698
As at 31 August 2024 22,169 34,722 7,036 63,927
Net Book Value
As at 31 August 2024 452,095 41,835 3,318 497,248
As at 1 September 2023 455,262 19,036 3,904 478,202
6. Debtors
2024 2023
£ £
Due within one year
Amounts recoverable on contracts 53,082 28,215
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Capital grants 46,614 68,870
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Capital grants 246,640 243,785
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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