Diverse Care (UK) Limited Filleted accounts for Companies House (small and micro)

DIVERSE CARE (UK) LTD - Company Information

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COMPANY REGISTRATION NUMBER: 04482942

Diverse Care (UK) Limited

Filleted Unaudited Financial Statements

31 March 2020

Diverse Care (UK) Limited

Financial Statements

Year ended 31 March 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Diverse Care (UK) Limited

Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		39,303	43,113

Current assets

Debtors	6	454,795	458,774
Cash at bank and in hand		766,993	287,716
		------------	---------
		1,221,788	746,490

Creditors: amounts falling due within one year	7	866,726		380,608
		------------		---------
Net current assets			355,062	365,882
			---------	---------
Total assets less current liabilities			394,365	408,995

Creditors: amounts falling due after more than one year	8	137,649	438,400
		---------	---------
Net assets/(liabilities)		256,716	( 29,405)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	256,616	( 29,505)
	---------	--------
Shareholders funds/(deficit)	256,716	( 29,405)
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2020 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Diverse Care (UK) Limited

Statement of Financial Position (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 15 February 2021 , and are signed on behalf of the board by:

Mr K R Gorman
Director

Company registration number: 04482942

Diverse Care (UK) Limited

Notes to the Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Quayside House, Chatham Maritime, Chatham, ME4 4QZ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and 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.

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:

	Fixtures and fittings	-	25% reducing balance

Impairment of fixed assets

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 as a finance cost 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 (2019: 29 ).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 April 2019	59,912
Additions	7,501
Disposals	( 994)
	--------
At 31 March 2020	66,419
	--------
Depreciation
At 1 April 2019	16,799
Charge for the year	10,527
Disposals	( 210)
	--------
At 31 March 2020	27,116
	--------
Carrying amount
At 31 March 2020	39,303
	--------
At 31 March 2019	43,113
	--------

6. Debtors

	2020	2019
	£	£
Trade debtors	128,825	340,282
Amounts owed by group undertakings and undertakings in which the company has a participating interest	92,701	–
Other debtors	233,269	118,492
	---------	---------
	454,795	458,774
	---------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	–	26,016
Trade creditors	100,874	65,567
Corporation tax	50,759	59,000
Social security and other taxes	21,121	22,952
Other creditors	693,972	207,073
	---------	---------
	866,726	380,608
	---------	---------

Bank loans and overdrafts are secured by way of a fixed and floating charge over the company's assets and undertakings.

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	–	36,129
Other creditors	137,649	402,271
	---------	---------
	137,649	438,400
	---------	---------

Bank loans and overdrafts are secured by way of a fixed and floating charge over the company's assets and undertakings.

9. Related party transactions

At the year end, the company was owed £92,701 (2019: £nil) by a parent company.

10. Controlling party

The company's parent company is The Hazel Project Limited, a company incorporated in England and Wales. The Hazel Project Limited's registered address is Quayside House, Chatham Maritime, Chatham, United Kingdom, ME4 4QZ.