Company registration number 03073816 (England and Wales)
PREMIERE CARE (SOUTHERN) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PREMIERE CARE (SOUTHERN) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Detailed profit and loss account
PREMIERE CARE (SOUTHERN) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
153,747
121,381
Current assets
Stocks
3,200
3,200
Debtors
4
232,216
904,209
Cash at bank and in hand
46,409
19,239
281,825
926,648
Creditors: amounts falling due within one year
5
(387,710)
(1,092,117)
Net current liabilities
(105,885)
(165,469)
Total assets less current liabilities
47,862
(44,088)
Creditors: amounts falling due after more than one year
6
(29,689)
(22,734)
Net assets/(liabilities)
18,173
(66,822)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
18,073
(66,922)
Total equity
18,173
(66,822)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PREMIERE CARE (SOUTHERN) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
2024
2023
Notes
£
£
£
£
Fixed assets
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 April 2025 and are signed on its behalf by:
S Cole
Director
Company Registration No. 03073816
PREMIERE CARE (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Premiere Care (Southern) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of the services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
2% straight line
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
33.3% straight line
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises perishable and non-perishable foods purchased to cater for the residents of the care homes.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
PREMIERE CARE (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
66
121
PREMIERE CARE (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
83,630
279,377
61,561
15,687
440,255
Additions
20,079
2,614
47,588
70,281
Disposals
(33,529)
(26,226)
(59,755)
At 31 March 2024
83,630
265,927
37,949
63,275
450,781
Depreciation and impairment
At 1 April 2023
12,526
241,727
53,749
10,872
318,874
Depreciation charged in the year
1,669
10,348
5,423
6,161
23,601
Eliminated in respect of disposals
(19,215)
(26,226)
(45,441)
At 31 March 2024
14,195
232,860
32,946
17,033
297,034
Carrying amount
At 31 March 2024
69,435
33,067
5,003
46,242
153,747
At 31 March 2023
71,104
37,650
7,812
4,815
121,381
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
156,326
193,091
Amounts owed by group undertakings
48,574
610,115
Other debtors
10,879
12,025
Prepayments and accrued income
7,428
9,884
223,207
825,115
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note )
9,009
79,094
Total debtors
232,216
904,209
No interest has been charged on amounts due from group undertakings as all amounts are payable on demand.
PREMIERE CARE (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,800
Trade creditors
131,694
321,393
Taxation and social security
169,018
607,252
Other creditors
86,998
154,672
387,710
1,092,117
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
22,734
Other creditors
29,689
29,689
22,734