Registered number
11213538
SH CARE LTD
Filleted Accounts
31 March 2024
SH CARE LTD
Registered number: 11213538
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 236,250 252,000
Tangible assets 4 416,681 421,902
Investments 5 1,772,619 -
2,425,550 673,902
Current assets
Debtors 6 38,013 39,105
Cash at bank and in hand 81,122 74,112
119,135 113,217
Creditors: amounts falling due within one year 7 (341,716) (107,435)
Net current (liabilities)/assets (222,581) 5,782
Total assets less current liabilities 2,202,969 679,684
Creditors: amounts falling due after more than one year 8 (1,890,998) (442,343)
Net assets 311,971 237,341
Capital and reserves
Called up share capital 100 100
Profit and loss account 311,871 237,241
Shareholders' funds 311,971 237,341
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Heald
Director
Approved by the board on 7 August 2024
SH CARE LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 28 29
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 315,000
At 31 March 2024 315,000
Amortisation
At 1 April 2023 63,000
Provided during the year 15,750
At 31 March 2024 78,750
Net book value
At 31 March 2024 236,250
At 31 March 2023 252,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 387,476 52,210 439,686
At 31 March 2024 387,476 52,210 439,686
Depreciation
At 1 April 2023 - 17,784 17,784
Charge for the year - 5,221 5,221
At 31 March 2024 - 23,005 23,005
Net book value
At 31 March 2024 387,476 29,205 416,681
At 31 March 2023 387,476 34,426 421,902
5 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 1,772,619
At 31 March 2024 1,772,619
6 Debtors 2024 2023
£ £
Trade debtors 38,013 39,105
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 191,676 62,694
Taxation and social security costs 71,682 40,677
Other creditors 78,358 4,064
341,716 107,435
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,670,527 213,810
Directors loan account 220,471 228,533
1,890,998 442,343
9 Other information
SH CARE LTD is a private company limited by shares and incorporated in England. Its registered office is:
The Bungalow
54-56 Mossfiled Road
Farnworth
Bolton
BL4 0AB
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