Newhaven Care Limited |
Notes to the Accounts |
for the year ended 31 October 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
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Turnover |
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Turnover represents the value of the fees receivable in respect of services rendered to our residents. |
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Tangible fixed assets |
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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: |
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Freehold buildings |
Nil |
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Motor vehicles |
over 5 years |
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Fixtures & fittings |
over 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Opinder Singh Sawhney |
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Firm: |
Sawhney Consulting |
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Date of audit report: |
17 March 2025 |
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3 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
59 |
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48 |
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4 |
Tangible fixed assets |
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Land and buildings |
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Fixtures & fittings |
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Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
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Cost |
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At 1 November 2023 |
2,283,661 |
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56,011 |
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46,797 |
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2,386,469 |
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Additions |
- |
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- |
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3,000 |
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3,000 |
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At 31 October 2024 |
2,283,661 |
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56,011 |
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49,797 |
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2,389,469 |
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Depreciation |
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At 1 November 2023 |
- |
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39,098 |
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24,459 |
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63,557 |
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Charge for the year |
- |
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4,399 |
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6,574 |
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10,973 |
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At 31 October 2024 |
- |
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43,497 |
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31,033 |
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74,530 |
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Net book value |
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At 31 October 2024 |
2,283,661 |
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12,514 |
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18,764 |
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2,314,939 |
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At 31 October 2023 |
2,283,661 |
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16,913 |
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22,338 |
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2,322,912 |
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5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
33,948 |
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299,119 |
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Prepayments and accrued income |
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16,444 |
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45,651 |
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Other debtors |
44,004 |
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78,972 |
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94,396 |
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423,742 |
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6 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Bank loans and overdrafts |
154,063 |
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154,063 |
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Trade creditors |
12,818 |
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6,398 |
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Taxation and social security costs |
584,396 |
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465,886 |
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Other creditors |
249,502 |
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189,574 |
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1,000,779 |
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815,921 |
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7 |
Creditors: amounts falling due after one year |
2024 |
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2023 |
£ |
£ |
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Bank loans |
772,266 |
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854,979 |
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Bank Loan is secured by mortgage debenture, first legal charge over the freehold property owned by the company. |
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8 |
Comparable figures |
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Previous year figures have been regrouped or rearranged to make them comparable with current year figures. |
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9 |
Other information |
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Newhaven Care Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Citibase Watford, |
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42-44 Clarendon Road, |
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Watford, |
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England, |
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WD17 1JJ |