Careport Advisory Services Limited - Limited company accounts 20.1

REGISTERED NUMBER: 06989874 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 December 2021

for

Careport Advisory Services Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

DIRECTORS:

J Beastall

C Briddon

C N Beastall

M K Beastall

REGISTERED OFFICE:

Scholes Mill

Old Coach Road

Tansley

Matlock

Derbyshire

DE4 5FY

REGISTERED NUMBER:

06989874 (England and Wales)

AUDITORS:

Royston Parkin Limited

Chartered Certified Accountants

& Statutory Auditor

2 President Buildings

Sheffield

South Yorkshire

S4 7UQ

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

J Beastall

C Briddon

C N Beastall

M K Beastall

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Royston Parkin Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J Beastall - Director

1 April 2022

Opinion

We have audited the financial statements of Careport Advisory Services Limited (the 'company') for the year ended 31 December 2021 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. We have taken advantage of the exemptions that apply to small entities under Financial Reporting Council Ethical Standards (PASE SE section 6) and supply none audit services to the company which include the preparation of the statutory accounts, the completion and submission of corporation tax to HMRC and ad hoc advice to the management. We have applied all relevant safeguards and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mrs Lynn Catherine Pridmore (Senior Statutory Auditor)

for and on behalf of Royston Parkin Limited

Chartered Certified Accountants

& Statutory Auditor

2 President Buildings

Sheffield

South Yorkshire

S4 7UQ

1 April 2022

REVENUE

1,611,680

1,638,845

Administrative expenses

1,136,933

1,231,935

474,747

406,910

Other operating income

369

-

OPERATING PROFIT

4

475,116

406,910

Income from shares in group undertakings

5

-

946,000

Interest receivable and similar income

35

736

35

946,736

PROFIT BEFORE TAXATION

475,151

1,353,646

Tax on profit

6

86,981

77,357

PROFIT FOR THE FINANCIAL YEAR

388,170

1,276,289

PROFIT FOR THE YEAR

388,170

1,276,289

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

388,170

1,276,289

FIXED ASSETS

Investments

8

1

1

CURRENT ASSETS

Debtors

9

39,733

41,260

Cash at bank and in hand

393,522

419,044

433,255

460,304

CREDITORS

Amounts falling due within one year

10

163,651

191,870

NET CURRENT ASSETS

269,604

268,434

TOTAL ASSETS LESS CURRENT LIABILITIES

269,605

268,435

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

13

268,605

267,435

SHAREHOLDERS' FUNDS

269,605

268,435

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2022 and were signed on its behalf by:

J Beastall - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2020

1,000

28,396

29,396

Changes in equity

Dividends

-

(1,037,250

)

(1,037,250

)

Total comprehensive income

-

1,276,289

1,276,289

Balance at 31 December 2020

1,000

267,435

268,435

Changes in equity

Dividends

-

(387,000

)

(387,000

)

Total comprehensive income

-

388,170

388,170

Balance at 31 December 2021

1,000

268,605

269,605

Cash flows from operating activities

Cash generated from operations

1

438,519

341,844

Tax paid

(77,357

)

-

Net cash from operating activities

361,162

341,844

Cash flows from investing activities

Interest received

35

736

Dividends received

-

946,000

Net cash from investing activities

35

946,736

Cash flows from financing activities

Equity dividends paid

(387,000

)

(1,037,250

)

Net cash from financing activities

(387,000

)

(1,037,250

)

(Decrease)/increase in cash and cash equivalents

(25,803

)

251,330

Cash and cash equivalents at beginning of year

2

419,044

167,714

Cash and cash equivalents at end of year

2

393,241

419,044

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2021

2020

£

£

Profit before taxation

475,151

1,353,646

Finance income

(35

)

(946,736

)

475,116

406,910

Decrease in trade and other debtors

1,527

96,210

Decrease in trade and other creditors

(38,124

)

(161,276

)

Cash generated from operations

438,519

341,844

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2021

31.12.21

1.1.21

£

£

Cash and cash equivalents

393,522

419,044

Bank overdrafts

(281

)

-

393,241

419,044

Year ended 31 December 2020

31.12.20

1.1.20

£

£

Cash and cash equivalents

419,044

167,714

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.21

Cash flow

At 31.12.21

£

£

£

Net cash

Cash at bank and in hand

419,044

(25,522

)

393,522

Bank overdrafts

-

(281

)

(281

)

419,044

(25,803

)

393,241

Total

419,044

(25,803

)

393,241

1.	STATUTORY INFORMATION

Careport Advisory Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Careport Advisory Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Careport Advisory Services (Holdings) Limited, Scholes Mill, Old Coach Road, Tansley, Matlock, DE4 5FY.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

2021

2020

£

£

Wages and salaries

748,060

779,427

Social security costs

80,192

69,574

Other pension costs

37,274

34,960

865,526

883,961

The average number of employees during the year was as follows:

2021

2020

Directors

4

3

Administration and Finance

19

25

23

28

2021

2020

£

£

Directors' remuneration

56,759

48,263

4.	OPERATING PROFIT

The operating profit is stated after charging:

2021

2020

£

£

Auditors' remuneration

9,000

9,000

Other non- audit services

9,383

11,310

5.

INCOME FROM SHARES IN GROUP UNDERTAKINGS

2021

2020

£

£

Shares in group undertakings

-

946,000

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2021

2020

£

£

Current tax:

UK corporation tax

86,981

77,357

Tax on profit

86,981

77,357

7.

DIVIDENDS

2021

2020

£

£

Ordinary shares of £1 each

Interim

387,000

1,037,250

8.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

and 31 December 2021

1

NET BOOK VALUE

At 31 December 2021

1

At 31 December 2020

1

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Mariposa Care Group Ltd

Registered office: Scholes Mill, Old Coach Road, Tansley, Matlock, DE4 5FY

Nature of business: Residential Care Homes

%

Class of shares:

holding

Ordinary

100.00

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

4,940

9,965

Other debtors

3,575

-

Amount due from 1 connected co

3,960

3,960

VAT

3,531

-

Prepayments

23,727

27,335

39,733

41,260

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 11)

281

-

Trade creditors

32,371

15,707

Tax

86,981

77,357

Social security and other taxes

20,027

16,979

VAT

-

3,344

Other creditors

6,957

7,095

Amount due to 1 connected co

(24,590

)

(12,311

)

Client accounts

(13,563

)

(1,847

)

Accruals and deferred income

55,187

85,546

163,651

191,870

11.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

281

-

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary

£1

1,000

1,000

13.

RESERVES

Retained

earnings

£

At 1 January 2021

267,435

Profit for the year

388,170

Dividends

(387,000

)

At 31 December 2021

268,605

14.	ULTIMATE PARENT COMPANY

Careport Advisory Services (Holdings) Limited (incorporated in England ) is regarded by the directors as being the company's ultimate parent company.