Courtesy Care Ltd 30/06/2019 iXBRL

Courtesy Care Ltd 30/06/2019 iXBRL

COURTESY CARE LIMITED - Company Information

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Company registration number: 06252428
Courtesy Care Ltd
Trading as Courtesy Care Limited
Unaudited financial statements
30 June 2019
COURTESY CARE LTD
Contents
Directors and other information
Directors report
Accountants report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
COURTESY CARE LTD
DIRECTORS AND OTHER INFORMATION
Directors Ms Sue Bryant
Miss Michelle Bryant
Secretary Michelle Bryant
Company number 06252428
Registered office Kett House
Chard Street
Axminster
Devon
EX13 5DZ
Business address Kett House
Chard Street
Axminster
Devon
EX13 5DZ
Accountants Thomas Westcott
Timberly
South Street
Axminster
Devon
EX13 5AD
COURTESY CARE LTD
DIRECTORS REPORT
YEAR ENDED 30 JUNE 2019
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2019.
Directors
The directors who served the company during the year were as follows:
Ms Sue Bryant
Miss Michelle Bryant
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 March 2020 and signed on behalf of the board by:
Ms Sue Bryant
Director
COURTESY CARE LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COURTESY CARE LTD
YEAR ENDED 30 JUNE 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Courtesy Care Ltd for the year ended 30 June 2019 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Courtesy Care Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Courtesy Care Ltd and state those matters that we have agreed to state to the board of directors of Courtesy Care Ltd as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Courtesy Care Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Courtesy Care Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Courtesy Care Ltd. You consider that Courtesy Care Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Courtesy Care Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Westcott
Chartered Accountants
Timberly
South Street
Axminster
Devon
EX13 5AD
COURTESY CARE LTD
STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 30 JUNE 2019
2019 2018
Note £ £
Turnover 405,033 447,443
Cost of sales ( 235,936) ( 282,245)
_______ _______
Gross profit 169,097 165,198
Administrative expenses ( 131,995) ( 138,604)
_______ _______
Operating profit 37,102 26,594
_______ _______
Profit before taxation 5 37,102 26,594
Tax on profit ( 7,049) ( 5,052)
_______ _______
Profit for the financial year and total comprehensive income 30,053 21,542
_______ _______
All the activities of the company are from continuing operations.
COURTESY CARE LTD
STATEMENT OF FINANCIAL POSITION
30 JUNE 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 2,066 2,411
_______ _______
2,066 2,411
Current assets
Stocks 24,306 24,028
Debtors 8 40,376 48,708
Cash at bank and in hand 39,492 29,252
_______ _______
104,174 101,988
Creditors: amounts falling due
within one year 9 ( 75,691) ( 86,737)
_______ _______
Net current assets 28,483 15,251
_______ _______
Total assets less current liabilities 30,549 17,662
Provisions for liabilities ( 356) ( 422)
_______ _______
Net assets 30,193 17,240
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 10 30,093 17,140
_______ _______
Shareholders funds 30,193 17,240
_______ _______
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 24 March 2020 , and are signed on behalf of the board by:
Ms Sue Bryant
Director
Company registration number: 06252428
COURTESY CARE LTD
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 30 JUNE 2019
At 1 July 2017
Profit for the year
Total comprehensive income for the year
At 30 June 2018 and 1 July 2018
Profit for the year
Total comprehensive income for the year
Dividends paid and payable
Total investments by and distributions to owners
At 30 June 2019
COURTESY CARE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2019
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Courtesy Care Ltd , Kett House, Chard Street, Axminster, Devon, EX13 5DZ.
Principal activity
The principal activity of the company is the provision of care to the elderly.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Straight line over the life of the lease
Fittings fixtures and equipment - 15 %
Motor vehicles - 25 %
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2018: 26 ).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2019 2018
£ £
Depreciation of tangible assets 469 566
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2018 and 30 June 2019 20,000 20,000
_______ _______
Amortisation
At 1 July 2018 and 30 June 2019 20,000 20,000
_______ _______
Carrying amount
At 30 June 2019 - -
_______ _______
At 30 June 2018 - -
_______ _______
7. Tangible assets
Short leasehold property Fixtures, fittings and equipment Motor vehicles Tangible assets - user defined Total
£ £ £ £ £
Cost
At 1 July 2018 950 540 5,510 5,320 12,320
Additions - - - 124 124
_______ _______ _______ _______ _______
At 30 June 2019 950 540 5,510 5,444 12,444
_______ _______ _______ _______ _______
Depreciation
At 1 July 2018 760 397 3,432 5,320 9,909
Charge for the year 95 21 312 41 469
_______ _______ _______ _______ _______
At 30 June 2019 855 418 3,744 5,361 10,378
_______ _______ _______ _______ _______
Carrying amount
At 30 June 2019 95 122 1,766 83 2,066
_______ _______ _______ _______ _______
At 30 June 2018 190 143 2,078 - 2,411
_______ _______ _______ _______ _______
8. Debtors
2019 2018
£ £
Trade debtors 31,506 41,034
Other debtors 8,870 7,674
_______ _______
40,376 48,708
_______ _______
9. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 229 2,530
Accruals and deferred income 3,352 2,584
Social security and other taxes 9,804 9,454
Other creditors 62,306 72,169
_______ _______
75,691 86,737
_______ _______
10. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Loans to / (from) directors at 1 July 2018 Loans to / (from) the directors Amounts repaid Balance at 30 June 2019
£ £ £ £
Directors ( 72,168) 29,603 ( 17,100) ( 59,665)
_______ _______ _______ _______
Loans to / (from) directors at 1 July 2017 Loans to / (from) the directors Amounts repaid Balance at 30 June 2018
£ £ £ £
Directors ( 95,408) 23,240 - ( 72,168)
_______ _______ _______ _______
COURTESY CARE LTD
The following pages do not form part of the statutory accounts.