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Registration number: 07274654

Elan Assisted Living Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Elan Assisted Living Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Elan Assisted Living Services Limited

Company Information

Directors

Mrs Lucy Amanda Jones

Mr Craig Jones

Registered office

53 Bridge Street
Troed y Rhiw
Merthyr Tydfil
CF48 4DX

Accountants

Richard Alsept Chartered Accountant
16 Burlington Terrace
Cardiff
CF5 1GG

 

Elan Assisted Living Services Limited

(Registration number: 07274654)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,543

19,109

Current assets

 

Debtors

5

138,858

108,865

Cash at bank and in hand

 

17

4,653

 

138,875

113,518

Creditors: Amounts falling due within one year

6

(156,794)

(119,376)

Net current liabilities

 

(17,919)

(5,858)

Net assets

 

1,624

13,251

Capital and reserves

 

Called up share capital

7

1,003

1,003

Retained earnings

621

12,248

Shareholders' funds

 

1,624

13,251

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
Mrs Lucy Amanda Jones
Director

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
53 Bridge Street
Troed y Rhiw
Merthyr Tydfil
CF48 4DX

These financial statements were authorised for issue by the Board on 20 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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

Leasehold Improvements

20% reducing balance

Furniture and fittings

25% reducing balance

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2023 - 48).

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

45,196

11,816

57,012

Additions

-

1,700

1,700

At 30 June 2024

45,196

13,516

58,712

Depreciation

At 1 July 2023

29,187

8,716

37,903

Charge for the year

1,126

140

1,266

At 30 June 2024

30,313

8,856

39,169

Carrying amount

At 30 June 2024

14,883

4,660

19,543

At 30 June 2023

16,009

3,100

19,109

Included within the net book value of land and buildings above is £11,937 (2023 - £12,326) in respect of short leasehold land and buildings and £2,946 (2023 - £3,683) in respect of short leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

103,858

102,365

Other debtors

35,000

6,500

 

138,858

108,865

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

1,057

10,377

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

5,500

12,000

Taxation and social security

 

48,229

19,918

Accruals and deferred income

 

2,530

2,530

Other creditors

 

99,478

74,551

 

156,794

119,376

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

Ordinary 'A' of £1 each

1

1

1

1

Ordinary 'B' of £1 each

1

1

1

1

Ordinary 'C' of £1 each

1

1

1

1

1,003

1,003

1,003

1,003

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

10,377

Bank overdrafts

1,057

-

1,057

10,377

Bank borrowings

Funding Circle Loan is denominated in sterling with a nominal interest rate of 10%, and the final instalment is due on 30 November 2023. The carrying amount at year end is £Nil (2023 - £10,377).

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £28.05 (2023 - £56.62) per each Ordinary

28,055

56,624

Interim dividend of £44,202.00 (2023 - £Nil) per each Ordinary 'A'

44,202

-

Interim dividend of £Nil per each Ordinary 'B'

-

-

Interim dividend of £26,142.00 (2023 - £Nil) per each Ordinary 'C'

26,142

-

98,399

56,624

10

Related party transactions

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Directors Loan account

(12,000)

32,000

6,500

26,500

 

2023

At 1 July 2022
£

Repayments by director
£

At 30 June 2023
£

Directors Loan account

(12,500)

500

(12,000)

 

 

Elan Assisted Living Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

13,143

67,542

Dividends paid to directors

2024
£

2023
£

Mrs Lucy Amanda Jones

Interim dividend paid

28,947

9,124

 

 

Summary of transactions with parent

Elan Dragon Holdings Ltd - parent company
 Dividends paid to parent in the year £69,452.