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Red Oaks Care Ltd
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11837268
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 849,990 834,063
849,990 834,063
CURRENT ASSETS
Debtors 5 195,603 81,678
Cash at bank and in hand 147,898 122,681
343,501 204,359
Creditors: Amounts Falling Due Within One Year 6 (168,242 ) (111,004 )
NET CURRENT ASSETS (LIABILITIES) 175,259 93,355
TOTAL ASSETS LESS CURRENT LIABILITIES 1,025,249 927,418
Creditors: Amounts Falling Due After More Than One Year 7 (717,904 ) (810,955 )
NET ASSETS 307,345 116,463
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 307,245 116,363
SHAREHOLDERS' FUNDS 307,345 116,463
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Jochen Self
Director
30th May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Red Oaks Care Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11837268 . The registered office is The Oaks The Rosery, Mulbarton, Norwich, Norfolk, NR14 8AL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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.
2.2. Turnover
The company operates two principal types of contracts with customers.

Residential long-term contracts
Revenue is recognised on a time-elapsed basis as the principal performance obligation is to provide bed capacity. Units of care under these contracts are typically provided on a daily basis and there is no obligation to carry forward any non-utilised capacity.

Residential spot purchase contracts
Revenue is recognised when the principal performance obligation is fulfilled, that is typically when a service user has received care services, which are usually provided on a daily basis.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is not recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements as the Director considers that a deferred tax liabilty is unlikely to materialise in the forseeable future.
Current tax for the year is recognised in profit or loss, except when related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2023: 25)
36 25
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 818,836 43,873 1,736 864,445
Additions 9,852 11,852 - 21,704
As at 31 August 2024 828,688 55,725 1,736 886,149
Depreciation
As at 1 September 2023 - 29,643 739 30,382
Provided during the period - 5,279 498 5,777
As at 31 August 2024 - 34,922 1,237 36,159
Net Book Value
As at 31 August 2024 828,688 20,803 499 849,990
As at 1 September 2023 818,836 14,230 997 834,063
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5. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
Other debtors 195,603 81,678
6. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Trade creditors 1,460 15,051
Bank loans and overdrafts 10,311 10,000
Other creditors 64,221 60,493
Taxation and social security 92,250 25,460
168,242 111,004
7. Creditors: Amounts Falling Due After More Than One Year
31 August 2024 31 August 2023
£ £
Bank loans 517,904 528,325
Other loans 200,000 200,000
Other creditors - 82,630
717,904 810,955
8. Secured Creditors
The Bank Loan is secured against the Freehold Property held within the company, along with a fixed and floating charge over the assets of the company.
Of the creditors the following amounts are secured.
31 August 2024 31 August 2023
£ £
Bank loans and overdrafts 510,000 510,000
9. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 August 2024 31 August 2023
£ £
Not later than one year 4,602 2,374
Later than one year and not later than five years 8,437 -
13,039 2,374
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Jochen Self (82,630 ) 149,040 - - 66,410
The above loan is unsecured, interest free and repayable on demand.
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