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Registration number: 12497910

Transforming Care Partnership Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Transforming Care Partnership Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Transforming Care Partnership Limited

Company Information

Director

C Greenway

Registered office

28 Gerbera Way
Cullompton
Devon
EX15 1UW

Accountants

River Accounting Limited
Association of Chartered Certified Accountants
28 Gerbera Way
Cullompton
Devon
EX15 1UW

 

Transforming Care Partnership Limited

(Registration number: 12497910)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,000

7,530

Current assets

 

Cash at bank and in hand

 

51,675

77,548

Creditors: Amounts falling due within one year

5

(13,400)

(9,900)

Net current assets

 

38,275

67,648

Total assets less current liabilities

 

43,275

75,178

Creditors: Amounts falling due after more than one year

5

-

(1,926)

Net assets

 

43,275

73,252

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

43,273

73,250

Shareholders' funds

 

43,275

73,252

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 

.........................................
C Greenway
Director

 

Transforming Care Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Gerbera Way
Cullompton
Devon
EX15 1UW
United Kingdom

The principal place of business is:
1 Queen Street
Henley-on-Thames
RG9 1AR

These financial statements were authorised for issue by the director on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in £ sterling, being the company's functional currency.

Going concern

The director has reviewed the forecast for the next 12 months and believes that the company can meet its obligations and is a going concern. The financial statements have therefore been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Turnover is recogised as services are provided to customers. Any work completed at the year end that has not yet been invoiced is accrued for as Amounts recoverable under contract, within Debtors.

 

Transforming Care Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The company accounts for VAT using the flat rate scheme. Expenditure is recorded gross with the VAT due being deducted from the total turnover for the period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

 

Transforming Care Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Transforming Care Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

12,650

12,650

At 31 March 2024

12,650

12,650

Depreciation

At 1 April 2023

5,120

5,120

Charge for the year

2,530

2,530

At 31 March 2024

7,650

7,650

Carrying amount

At 31 March 2024

5,000

5,000

At 31 March 2023

7,530

7,530

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

2,300

3,341

Taxation and social security

 

-

5,550

Accruals and deferred income

 

980

980

Other creditors

 

10,120

29

 

13,400

9,900

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

1,926

6

Share capital

Allotted, called up and fully paid shares

 

Transforming Care Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

-

1,926

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

2,300

3,341

8

Related party transactions

All transactions with the director have been completed under commercial terms and are therefore not disclosed.