Orange Care Limited - Period Ending 2020-08-31

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

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

Accountants

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

Orange Care Limited

Balance Sheet

31 August 2020

	Note	2020 £	2019 £
Fixed assets
Intangible assets	4	438,785	517,845
Tangible assets	5	1,086,498	1,085,069
		1,525,283	1,602,914
Current assets
Stocks		5,000	3,000
Debtors	6	157,282	48,705
Cash at bank and in hand		882,645	660,522
		1,044,927	712,227
Creditors: Amounts falling due within one year	7	(246,292)	(335,325)
Net current assets		798,635	376,902
Total assets less current liabilities		2,323,918	1,979,816
Creditors: Amounts falling due after more than one year	7	(802,349)	(848,488)
Provisions for liabilities		(9,280)	(7,927)
Net assets		1,512,289	1,123,401
Capital and reserves
Called up share capital	9	2	2
Profit and loss account		1,512,287	1,123,399
Shareholders' funds		1,512,289	1,123,401

Orange Care Limited

Balance Sheet

31 August 2020

For the financial year ending 31 August 2020 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 11 May 2021 and signed on its behalf by:
 

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

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

Company Registration Number: 09468076

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2020

1	General information

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

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

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

These financial statements were authorised for issue by the Board on 11 May 2021.

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.

Going concern

The directors have considered the impact of Covid-19 on the business. In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.

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.

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2020

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.

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.

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2020

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.

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 53 (2019 - 51).

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2020

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2019	790,604	790,604
At 31 August 2020	790,604	790,604
Amortisation
At 1 September 2019	272,759	272,759
Amortisation charge	79,060	79,060
At 31 August 2020	351,819	351,819
Carrying amount
At 31 August 2020	438,785	438,785
At 31 August 2019	517,845	517,845

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2019	1,042,360	80,886	1,123,246
Additions	-	12,558	12,558
At 31 August 2020	1,042,360	93,444	1,135,804
Depreciation
At 1 September 2019	-	38,177	38,177
Charge for the year	-	11,129	11,129
At 31 August 2020	-	49,306	49,306
Carrying amount
At 31 August 2020	1,042,360	44,138	1,086,498
At 31 August 2019	1,042,360	42,709	1,085,069

Included within the net book value of land and buildings above is £1,042,360 (2019 - £1,042,360) in respect of freehold land and buildings.
 

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2020

6

Debtors

	2020 £	2019 £
Trade debtors	82,778	13,973
Prepayments	632	732
Other debtors	73,872	34,000
	157,282	48,705

7

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019 £
Due within one year
Loans and borrowings	8	69,726	69,726
Trade creditors		16,465	10,749
Taxation and social security		126,546	107,640
Accruals and deferred income		26,915	29,897
Other creditors		6,640	117,313
		246,292	335,325

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings	8	802,349	848,488

	2020 £	2019 £
Due after more than five years
After more than five years by instalments	523,445	569,584

	-	-

Orange Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2020

8	Loans and borrowings

	2020 £	2019 £
Current loans and borrowings
Bank borrowings	69,726	69,726

	2020 £	2019 £
Loans and borrowings due after one year
Bank borrowings	802,349	848,488

9	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary A shares of £0.001 each	1,000	1.00	1,000	1.00
Ordinary B shares of £0.001 each	1,000	1.00	1,000	1.00
	2,000	2	2,000	2