Orange Care Limited - Period Ending 2019-08-31

Orange Care Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 August 2019

Registration number: 09468076

Orange Care Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Orange Care Limited

Company Information

Directors

Mr P E J Wintershoven Mrs M E W Wintershoven-Kramer

Registered office

Grange-Lea 38 Preston Down Road Paignton Devon TQ3 2RL

Accountants

Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF

Page 1

Orange Care Limited

Balance Sheet

31 August 2019

	Note	2019 £	2018 £
Fixed assets
Intangible assets	4	517,845	596,905
Tangible assets	5	1,085,069	1,087,878
		1,602,914	1,684,783
Current assets
Stocks		3,000	3,000
Debtors	6	48,705	64,440
Cash at bank and in hand		660,522	532,678
		712,227	600,118
Creditors: Amounts falling due within one year	7	(335,325)	(780,379)
Net current assets/(liabilities)		376,902	(180,261)
Total assets less current liabilities		1,979,816	1,504,522
Creditors: Amounts falling due after more than one year	7	(848,488)	(914,922)
Provisions for liabilities		(7,927)	(29,881)
Net assets		1,123,401	559,719
Capital and reserves
Called up share capital	9	2	2
Profit and loss account		1,123,399	559,717
Total equity		1,123,401	559,719

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

Orange Care Limited

Balance Sheet

31 August 2019

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 March 2020 and signed on its behalf by:
 

......................................... Mr P E J Wintershoven Director

......................................... Mrs M E W Wintershoven-Kramer Director

Company Registration Number: 09468076

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Grange-Lea
38 Preston Down Road
Paignton
Devon
TQ3 2RL

The principal place of business is:
The Beeches
22 St George's Road
Hayle
Cornwall
TR27 4AH

These financial statements were authorised for issue by the Board on 31 March 2020.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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 provision of services in the ordinary course of the company’s activities. The company recognises revenue when the value of services provided to date can be reliably measured.

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 corporation 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.

Page 4

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2019

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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
Freehold Property	Not depreciated
Fixtures, fittings and equipment	25% reducing balance

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
Goodwill	10 years

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Page 5

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2019

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 51 (2018 - 53).

Page 6

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2019

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2018	790,604	790,604
At 31 August 2019	790,604	790,604
Amortisation
At 1 September 2018	193,699	193,699
Amortisation charge	79,060	79,060
At 31 August 2019	272,759	272,759
Carrying amount
At 31 August 2019	517,845	517,845
At 31 August 2018	596,905	596,905

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2018	1,042,360	69,458	1,111,818
Additions	-	11,428	11,428
At 31 August 2019	1,042,360	80,886	1,123,246
Depreciation
At 1 September 2018	-	23,940	23,940
Charge for the year	-	14,237	14,237
At 31 August 2019	-	38,177	38,177
Carrying amount
At 31 August 2019	1,042,360	42,709	1,085,069
At 31 August 2018	1,042,360	45,518	1,087,878

Included within the net book value of land and buildings above is £1,042,360 (2018 - £1,042,360) in respect of freehold land and buildings.
 

Page 7

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2019

6

Debtors

	2019 £	2018 £
Trade debtors	13,973	56,485
Other debtors	34,000	7,234
Prepayments	732	721
	48,705	64,440

7

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018  £
Due within one year
Loans and borrowings	8	69,726	47,326
Trade creditors		10,749	17,298
Corporation tax		94,294	71,744
Social security and other taxes		13,346	12,665
Outstanding defined contribution pension costs		2,596	1,355
Other creditors		114,717	570,875
Accrued expenses		6,761	22,856
Deferred income		23,136	36,260
		335,325	780,379

Creditors: amounts falling due after more than one year

	Note	2019 £	2018 £
Due after one year
Loans and borrowings	8	848,488	914,922

	2019 £	2018 £
Due after more than five years
After more than five years by instalments	569,584	717,018

	-	-

Page 8

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2019

8	Loans and borrowings

	2019 £	2018 £
Current loans and borrowings
Bank borrowings	69,726	47,326

	2019 £	2018 £
Loans and borrowings due after one year
Bank borrowings	848,488	914,922

9	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary A shares of £0.00 each	1,000	1.00	1,000	1.00
Ordinary B shares of £0.00 each	1,000	1.00	1,000	1.00
	2,000	2	2,000	2

Page 9