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REGISTERED NUMBER: 08934760 (England and Wales)









CREAM III LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






CREAM III LIMITED (REGISTERED NUMBER: 08934760)






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 III 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: 08934760 (England and Wales)





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

CREAM III LIMITED (REGISTERED NUMBER: 08934760)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 57,703 59,667

CURRENT ASSETS
Stocks 6,790 5,838
Debtors 6 1,764,142 998,082
Cash at bank and in hand 73,771 85,780
1,844,703 1,089,700
CREDITORS
Amounts falling due within one year 7 1,225,276 491,552
NET CURRENT ASSETS 619,427 598,148
TOTAL ASSETS LESS CURRENT LIABILITIES 677,130 657,815

PROVISIONS FOR LIABILITIES 14,409 14,900
NET ASSETS 662,721 642,915

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 662,621 642,815
SHAREHOLDERS' FUNDS 662,721 642,915

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 III LIMITED (REGISTERED NUMBER: 08934760)

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

1. STATUTORY INFORMATION

Cream III 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 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, using the first in first out method, after making due allowance for obsolete and slow moving items.


CREAM III LIMITED (REGISTERED NUMBER: 08934760)

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.

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 70 (2023 - 64 ) .

CREAM III LIMITED (REGISTERED NUMBER: 08934760)

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 50,111 145,413 195,524
Additions 6,648 - 6,648
At 30 April 2024 56,759 145,413 202,172
DEPRECIATION
At 1 May 2023 31,810 104,047 135,857
Charge for year 2,810 5,802 8,612
At 30 April 2024 34,620 109,849 144,469
NET BOOK VALUE
At 30 April 2024 22,139 35,564 57,703
At 30 April 2023 18,301 41,366 59,667

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 216,957 179,279
Amounts owed by group undertakings 332,822 200,362
Other debtors 1,214,363 618,441
1,764,142 998,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 45,001 26,424
Amounts owed to group undertakings 923,408 299,595
Taxation and social security 82,972 34
Other creditors 173,895 165,499
1,225,276 491,552

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 396,925 381,658
Between one and five years 1,587,698 1,526,633
In more than five years 2,591,428 2,873,416
4,576,051 4,781,707

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

An error was noted in the disclosure provided in the prior year for the commitment recorded as due in more than 5 years, and so this has been updated in the above disclosure.

CREAM III LIMITED (REGISTERED NUMBER: 08934760)

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

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

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 £1,199,910 (2023: £604,983). this amount is included within 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.