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REGISTERED NUMBER: 05802136 (England and Wales)









CREAM II LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






CREAM II LIMITED (REGISTERED NUMBER: 05802136)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CREAM II LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: M L Reed





REGISTERED OFFICE: Osborne House
Trull Road
Taunton
Somerset
TA1 4PX





REGISTERED NUMBER: 05802136 (England and Wales)





AUDITORS: WP Audit Services LLP
CHARTERED ACCOUNTANT & STATUTORY AUDITOR
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

CREAM II LIMITED (REGISTERED NUMBER: 05802136)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 40,986 46,594

CURRENT ASSETS
Debtors 6 1,758,169 1,684,099
Cash at bank and in hand 72,990 91,222
1,831,159 1,775,321
CREDITORS
Amounts falling due within one year 7 243,646 218,885
NET CURRENT ASSETS 1,587,513 1,556,436
TOTAL ASSETS LESS CURRENT LIABILITIES 1,628,499 1,603,030

PROVISIONS FOR LIABILITIES 3,807 4,800
NET ASSETS 1,624,692 1,598,230

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,624,592 1,598,130
SHAREHOLDERS' FUNDS 1,624,692 1,598,230

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 January 2025 and were signed by:





M L Reed - Director


CREAM II LIMITED (REGISTERED NUMBER: 05802136)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Cream II Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover represents net invoiced specialist care home fees and is recognised per night that a room is occupied.

Turnover is deferred where amounts have been invoiced, but these relate to services to be provided in future periods. Turnover is accrued where amounts have yet to be invoiced, but where the services have been provided in the period to date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are recognised initially at cost and subsequently at cost less accumulated depreciation and any impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.


CREAM II LIMITED (REGISTERED NUMBER: 05802136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Operating lease commitments
At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 68 ) .

CREAM II LIMITED (REGISTERED NUMBER: 05802136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 May 2023 43,854 197,051 240,905
Additions - 955 955
At 30 April 2024 43,854 198,006 241,860
DEPRECIATION
At 1 May 2023 29,658 164,653 194,311
Charge for year 1,989 4,574 6,563
At 30 April 2024 31,647 169,227 200,874
NET BOOK VALUE
At 30 April 2024 12,207 28,779 40,986
At 30 April 2023 14,196 32,398 46,594

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,594 103,503
Amounts owed by group undertakings 1,120,028 1,264,606
Other debtors 519,547 315,990
1,758,169 1,684,099

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 50,486 35,775
Taxation and social security 56,691 37,145
Other creditors 136,469 145,965
243,646 218,885

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 321,354 308,994
Between one and five years 1,285,417 1,235,978
In more than five years 2,098,047 2,311,956
3,704,818 3,856,928

There is an operating lease in place with respect to the premises from which the care activities are provided.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephanie Williams (Senior Statutory Auditor)
for and on behalf of WP Audit Services LLP

CREAM II LIMITED (REGISTERED NUMBER: 05802136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. RELATED PARTY DISCLOSURES

There are amounts owed from companies and partnerships under common control at the year end. These balances are unsecured and have no set terms of repayment and hence have been shown as due in less than one year. The total amount due from all non-group related parties at the year end is £500,464 (2023: £284,820) and this is shown in other debtors.

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is deemed to be CCG Enterprises Limited at the year end. Their registered office is Osborne House, Trull Road, Taunton, Somerset TA1 4PX.

The ultimate parent company is deemed to be CCGE Parasol Limited at the year end. Their registered office is Osborne House, Trull Road, Taunton, Somerset TA1 4PX.

Consolidated accounts for the group can be found at Companies House, Crown Way, Cardiff CF14 3UZ.

Martin Reed is the ultimate controlling party.