TOB Care Ltd 31/12/2021 iXBRL

TOB Care Ltd 31/12/2021 iXBRL

NORTHWOOD COMPLEX CARE LTD - Company Information

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Company registration number: 10431265
TOB Care Ltd
Unaudited filleted financial statements
31 December 2021
TOB Care Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
TOB Care Ltd
Directors and other information
Directors Timothy Ogunleye
Susan Da Silva (Resigned 10 May 2021)
Company number 10431265
Registered office 23 Marsham Way
Gerrards Cross
South Bucks
SL9 8AB
Business address 206 Preston New Road
Blackburn
Lancashire
BB2 6PN
Accountants Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
Bankers The Royal Bank of Scotland plc
41 Cornmarket
Derby
DE1 2DG
TOB Care Ltd
Accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of TOB Care Ltd
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TOB Care Ltd for the year ended 31 December 2021 which comprise the statement of financial position 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 Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.
This report is made solely to the board of directors of TOB Care Ltd, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of TOB Care Ltd and state those matters that we have agreed to state to the board of directors of TOB Care Ltd, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TOB Care Ltd and its board of directors for our work or for this report.
It is your duty to ensure that TOB 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 loss of TOB Care Ltd. You consider that TOB 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 TOB 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.
Leach Briely
Accountants
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
26 September 2022
TOB Care Ltd
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Fixed assets
Intangible assets 6 7,294 8,752
Tangible assets 7 904,410 904,790
_______ _______
911,704 913,542
Current assets
Stocks 2,500 2,500
Debtors 8 14,143 82,694
Cash at bank and in hand 43,685 12,696
_______ _______
60,328 97,890
Creditors: amounts falling due
within one year 9 ( 755,759) ( 640,364)
_______ _______
Net current liabilities ( 695,431) ( 542,474)
_______ _______
Total assets less current liabilities 216,273 371,068
Creditors: amounts falling due
after more than one year 10 ( 380,081) ( 361,465)
_______ _______
Net (liabilities)/assets ( 163,808) 9,603
_______ _______
Capital and reserves
Called up share capital 12 2 2
Profit and loss account ( 163,810) 9,601
_______ _______
Shareholders (deficit)/funds ( 163,808) 9,603
_______ _______
For the year ending 31 December 2021 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 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.
These financial statements were approved by the board of directors and authorised for issue on 26 September 2022 , and are signed on behalf of the board by:
Tariq Hussain
Director
Company registration number: 10431265
TOB Care Ltd
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Marsham Way, Gerrards Cross, South Bucks, SL9 8AB.
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 are prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company continued to rely on the ongoing financial support of a company controlled by its director Mr T Ogunleye throughout the year to facilitate the continuation of its business activities. There was an expectation at the year end that the ongoing funding would continue and the director was therefore able to prepare the financial statements on the basis of the going concern concept.
Turnover
Turnover is measured at the fair value of residential retirement nursing home fees receivable by the company during the year.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current period. Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis .
Goodwill
Goodwill is written off in equal instalments over the estimated useful economic life of 10 years.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Freehold property - over 50 years
Fixtures, fittings and equipment - 20 % reducing balance
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.
Stocks
Stocks are measured at estimated cost.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes available.
Provisions
Deferred tax is recognised in respect of all timing differences that have originated but not yet reserved at the balance sheet where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at tax rates that are expected to apply in the periods which timing differences reverse, on tax rates and laws enacted or substantively enacted at the balance sheet date.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade an other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings .
Defined contribution plans
The pension cost charged in the financial statements represents the contribution payable by the company during the period.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 33 (2020: 34 ).
5. Tax on loss
Major components of tax income
2021 2020
£ £
Current tax:
UK current tax expense/income - ( 3,134)
Adjustments in respect of previous periods ( 47) -
_______ _______
Deferred tax:
Origination and reversal of timing differences - ( 2,921)
_______ _______
Tax on loss ( 47) ( 6,055)
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2021 and 31 December 2021 14,584 14,584
_______ _______
Amortisation
At 1 January 2021 5,832 5,832
Charge for the year 1,458 1,458
_______ _______
At 31 December 2021 7,290 7,290
_______ _______
Carrying amount
At 31 December 2021 7,294 7,294
_______ _______
At 31 December 2020 8,752 8,752
_______ _______
7. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2021 903,236 27,345 930,581
Additions - 2,261 2,261
_______ _______ _______
At 31 December 2021 903,236 29,606 932,842
_______ _______ _______
Depreciation
At 1 January 2021 10,748 15,043 25,791
Charge for the year ( 424) 3,065 2,641
_______ _______ _______
At 31 December 2021 10,324 18,108 28,432
_______ _______ _______
Carrying amount
At 31 December 2021 892,912 11,498 904,410
_______ _______ _______
At 31 December 2020 892,488 12,302 904,790
_______ _______ _______
8. Debtors
2021 2020
£ £
Trade debtors 3,199 74,462
Other debtors 10,944 8,232
_______ _______
14,143 82,694
_______ _______
9. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans - 28,578
Trade creditors 69,076 42,631
Corporation tax - 41
Social security and other taxes - 17,534
Other creditors 686,683 551,580
_______ _______
755,759 640,364
_______ _______
10. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loans 380,081 361,465
_______ _______
The Bank loan is repayable by monthly instalments until June 2037. Repayments due after 31st December 2026 amount to £380,081. The Bank loan is secured by a first legal charge over the freehold land and buildings of the company.
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2021 2020
£ £
2021 2020
£ £
Accelerated capital allowances 2,185 3,709
Unused tax losses ( 2,185) ( 3,709)
_______ _______
(-) (-)
12. Called up share capital
Issued, called up and fully paid
2021 2020
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
13. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 5,040 5,040
Later than 1 year and not later than 5 years - 5,040
_______ _______
5,040 10,080
_______ _______