1 August 2023 false No description of principal activity Taxfiler 2024.6 true 08370036 business:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08370036 2023-07-31 08370036 2023-08-01 2024-07-31 08370036 business:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08370036 business:AbridgedAccounts 2023-08-01 2024-07-31 08370036 2024-07-31 08370036 2023-07-31 08370036 core:WithinOneYear 2024-07-31 08370036 core:WithinOneYear 2023-07-31 08370036 core:AfterOneYear 2024-07-31 08370036 core:AfterOneYear 2023-07-31 08370036 core:ShareCapital core:PreviouslyStatedAmount 2024-07-31 08370036 core:ShareCapital core:PreviouslyStatedAmount 2023-07-31 08370036 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-07-31 08370036 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2023-07-31 08370036 core:PreviouslyStatedAmount 2024-07-31 08370036 core:PreviouslyStatedAmount 2023-07-31 08370036 business:SmallEntities 2023-08-01 2024-07-31 08370036 business:Director1 2023-08-01 2024-07-31 08370036 countries:EnglandWales 2023-08-01 2024-07-31 08370036 business:RegisteredOffice 2023-08-01 2024-07-31 08370036 core:PlantMachinery 2023-08-01 2024-07-31 08370036 core:MotorVehicles 2023-08-01 2024-07-31 08370036 core:FurnitureFittings 2023-08-01 2024-07-31 08370036 core:ComputerEquipment 2023-08-01 2024-07-31 08370036 1 2023-08-01 2024-07-31 08370036 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Company Registration No. 08370036 (England and Wales)
Peculiar Care Homes Limited Unaudited accounts for the year ended 31 July 2024
Peculiar Care Homes Limited Statement of financial position as at 31 July 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
110,637
74,888
Current assets
Inventories
70,000
100,000
Debtors
847,596
423,274
Cash at bank and in hand
67,480
-
985,076
523,274
Creditors: amounts falling due within one year
(953,801)
(487,906)
Net current assets
31,275
35,368
Total assets less current liabilities
141,912
110,256
Creditors: amounts falling due after more than one year
(708,487)
(457,566)
Net liabilities
(566,575)
(347,310)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
(567,575)
(348,310)
Shareholders' funds
(566,575)
(347,310)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 November 2025 and were signed on its behalf by
A O Moshood Director Company Registration No. 08370036
- 2 -
Peculiar Care Homes Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Peculiar Care Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 08370036. The registered office is Studio 24, Engine House, 2 Veridion Way, Erith, Kent, DA18 4AL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
12.5% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
These accounts have been prepared on a going concern basis, however the company increased debt was required for working capital purposes and to promote and develop the business as it embarks on projects to increase turnover. The increased gearing levels of the company were also necessary within the challenging industry the company operates. The director (A O Moshood) expects a turnaround in cashflow and has given assurances and personal guarantees to ensure continued liquidity within the company and to meet the company's continued trading obligations.
- 3 -
Peculiar Care Homes Limited Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 August 2023
172,134
Additions
52,990
At 31 July 2024
225,124
Depreciation
At 1 August 2023
97,246
Charge for the year
17,241
At 31 July 2024
114,487
Net book value
At 31 July 2024
110,637
At 31 July 2023
74,888
5
Controlling party
The controlling party is A O Moshood by virtue of his majority shareholding.
6
Post balance sheet events
On the 12 August 2024 Peculiar Care Homes Limited appointed FRP Advisory Trading Limited as a Joint Supervisor of the company under a Company Voluntary Arrangement (CVA) as a result of debts owed to creditors, with HMRC being the majority creditor. Under the terms of the CVA, approved by all creditors on 12 August 2024, the company agreed to make monthly profit contributions totalling £1,178,644 over a 34 month period commencing on 30 August 2024 and to repay all creditors in full totalling 100p in the £ pound. As at the first anniversary of the CVA, the company had paid £385,000 out of it's total obligation of £420,000 under the terms of the CVA towards it's creditors and the relevant documentation of the Joint Supervisor has been reported and documented at Companies House. The company has committed to ensure it adheres to the terms of the CVA by cutting costs, increasing revenue and paying off it's creditors.
7
Average number of employees
During the year the average number of employees was 188 (2023: 103).
- 4 -