REGISTERED NUMBER: 02969105 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Suitecare Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L G Colam

Mrs R A Colam

REGISTERED OFFICE:

Reedham House

31 King Street West

Manchester

M3 2PJ

BUSINESS ADDRESS:

Wallsend Industrial Estate

Cattedown Road

Cattedown

Plymouth

PL4 0RW

REGISTERED NUMBER:

02969105 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

2,267,111

2,247,309

CURRENT ASSETS

Debtors

5

393,402

372,381

Cash at bank

50,585

41,644

443,987

414,025

CREDITORS

Amounts falling due within one year

6

(74,045

)

(71,398

)

NET CURRENT ASSETS

369,942

342,627

TOTAL ASSETS LESS CURRENT LIABILITIES

2,637,053

2,589,936

PROVISIONS FOR LIABILITIES

(9,140

)

(9,140

)

NET ASSETS

2,627,913

2,580,796

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

470,368

470,368

Retained earnings

7

2,157,543

2,110,426

SHAREHOLDERS' FUNDS

2,627,913

2,580,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

Mrs R A Colam - Director

1.	STATUTORY INFORMATION

Suitecare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the invoice value of rent and service charges provided inclusive of value added tax during the year.

Bank and other interest is recognised in the period in which it was received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Value added tax

The company is not registered for VAT and all expenditure is therefore stated inclusive of VAT where applicable.

Investment properties

Interest in investment properties is stated at an open market valuation with no depreciation being provided, in accordance with Financial Reporting Standard 102 Section 1A.

Going concern

The company's financial statements for the period ended 31 December 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

properties

property

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

1,902,104

284,867

78,081

2,265,052

Additions

-

25,114

11,693

36,807

At 31 December 2024

1,902,104

309,981

89,774

2,301,859

DEPRECIATION

At 1 January 2024

-

-

17,743

17,743

Charge for year

-

6,200

10,805

17,005

At 31 December 2024

-

6,200

28,548

34,748

NET BOOK VALUE

At 31 December 2024

1,902,104

303,781

61,226

2,267,111

At 31 December 2023

1,902,104

284,867

60,338

2,247,309

Cost or valuation at 31 December 2024 is represented by:

Improvements

Fixtures

Freehold

to

and

properties

property

fittings

Totals

£

£

£

£

Valuation in 2002

638,000

-

-

638,000

Valuation in 2006

404,250

-

-

404,250

Valuation in 2013

(100,000

)

-

-

(100,000

)

Valuation in 2015

(464,936

)

-

-

(464,936

)

Cost

1,424,790

309,981

89,774

1,824,545

1,902,104

309,981

89,774

2,301,859

If the investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

1,424,790

1,424,790

One of the properties was valued by Vickery Holman on a Market Value basis with an effective valuation date of 16 September 2015.

The director does not consider the value of the all properties at 31 December 2024 to be materially different from that stated in the financial statements..

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

58,271

54,221

Other debtors

215,131

198,160

273,402

252,381

Amounts falling due after more than one year:

Other debtors

120,000

120,000

Aggregate amounts

393,402

372,381

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

230

12,543

Taxation and social security

26,281

14,823

Other creditors

47,534

44,032

74,045

71,398

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

2,110,426

470,368

2,580,794

Profit for the year

91,517

91,517

Dividends

(44,400

)

(44,400

)

At 31 December 2024

2,157,543

470,368

2,627,911