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Registration number: 05471922

Stayathome Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Stayathome Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 11

 

Stayathome Limited

Company Information

Director

Mrs Barbara Elizabeth Rounsevell

Company secretary

Mr David Rounsevell

Registered office

2 & 3 St. Clement Vean
Truro
Cornwall
TR1 1RN

Accountants

Harland Accountants Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

 

Stayathome Limited

(Registration number: 05471922)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,176,765

694,058

Investments

6

1,000

1,000

 

1,177,765

695,058

Current assets

 

Stocks

7

1,000

1,000

Debtors

2,402,384

891,838

Cash at bank and in hand

 

1,588,058

968,150

 

3,991,442

1,860,988

Prepayments and accrued income

 

9,027

5,504

Creditors: Amounts falling due within one year

(903,331)

(543,526)

Net current assets

 

3,097,138

1,322,966

Total assets less current liabilities

 

4,274,903

2,018,024

Creditors: Amounts falling due after more than one year

(9,167)

(19,167)

Accruals and deferred income

 

(11,078)

(6,000)

Net assets

 

4,254,658

1,992,857

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

4,254,558

1,992,757

Shareholders' funds

 

4,254,658

1,992,857

For the financial 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.

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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Stayathome Limited

(Registration number: 05471922)
Abridged Balance Sheet as at 31 August 2024

These financial statements have been prepared and 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 August 2025
 

.........................................

Mrs Barbara Elizabeth Rounsevell

Director

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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:
2 & 3 St. Clement Vean
Truro
Cornwall
TR1 1RN
United Kingdom

These financial statements were authorised for issue by the director on 29 August 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 abridged 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 abridged 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.

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.

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.

Government grants

Grant revenue has been recognised in the profit & loss in the period in which it became receivable using the accrual model.

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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.

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

Plant and machinery

10% on cost

Fixtures and fittings

10% on cost

Motor vehicles

20% on cost

Office equipment

33.33% on cost

Improvements to property

3% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

33.33% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

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.

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.

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 the director) during the year, was 137 (2023 - 115).

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 September 2023

80,000

At 31 August 2024

80,000

Amortisation

At 1 September 2023

80,000

At 31 August 2024

80,000

Carrying amount

At 31 August 2024

-

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Improvements to property
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

31,260

70,281

606,340

52,020

759,901

Additions

21,132

-

484,401

44,051

549,584

At 31 August 2024

52,392

70,281

1,090,741

96,071

1,309,485

Depreciation

At 1 September 2023

27,125

15,056

18,190

5,472

65,843

Charge for the year

10,492

14,056

32,722

9,607

66,877

At 31 August 2024

37,617

29,112

50,912

15,079

132,720

Carrying amount

At 31 August 2024

14,775

41,169

1,039,829

80,992

1,176,765

At 31 August 2023

4,135

55,225

588,150

46,548

694,058

 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

6

Investments

Total
£

Cost or valuation

At 1 September 2023

1,000

Provision

Carrying amount

At 31 August 2024

1,000

At 31 August 2023

1,000

2024
£

2023
£

7

Stocks

2024
£

2023
£

Other inventories

1,000

1,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Stayathome Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Summary of transactions with parent

As at 31 August 2024 Chaos Group Cornwall Ltd owed Stayathome £51,172 (2023 - £1,132).

Summary of transactions with all subsidiaries

Stayathome Limited is the parent to Iconic Inc Limited. At the balance sheet date Iconic Inc Limited owed £266,673 (2023: £176,000) to Stayathome Limited.

Summary of transactions with other related parties

Due to common management between companies, as at 31 August 2024 Stayathome Ltd was owed £315,354 (2023 - £288,880) by Chaos Cornwall CIC and £1,295,114 (2023 - £0) by Camills Farm Ltd.

10

Parent and ultimate parent undertaking

The company's immediate parent is Chaos Group Cornwall Ltd, incorporated in England and Wales.