Generations Care Agency Limited Filleted accounts for Companies House (small and micro)

GENERATIONS CARE AGENCY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06198845

Generations Care Agency Limited

Filleted Unaudited Abridged Financial Statements

31 August 2021

Generations Care Agency Limited

Abridged Financial Statements

Year Ended 31 August 2021

Contents	Pages

Abridged statement of financial position	1 to 2

Notes to the abridged financial statements	3 to 5

Generations Care Agency Limited

Abridged Statement of Financial Position

31 August 2021

	2021		2020
Note	£	£	£

Fixed Assets

Tangible assets	5		4,684	3,050

Current Assets

Debtors	157,093	121,276
Cash at bank and in hand	183,572	180,761
	---------	---------
	340,665	302,037

Creditors: amounts falling due within one year	90,007		99,743
	---------		---------
Net Current Assets		250,658	202,294
		---------	---------
Total Assets Less Current Liabilities		255,342	205,344

Provisions

Taxation including deferred tax	890	579
	---------	---------
Net Assets	254,452	204,765
	---------	---------

Capital and Reserves

Called up share capital	6	75	75
Other reserves		25	25
Profit and loss account		254,352	204,665
		---------	---------
Shareholders Funds		254,452	204,765
		---------	---------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 August 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

Generations Care Agency Limited

Abridged Statement of Financial Position (continued)

31 August 2021

These abridged financial statements were approved by the board of directors and authorised for issue on 23 February 2022 , and are signed on behalf of the board by:

K J Johnson

Director

Company registration number: 06198845

Generations Care Agency Limited

Notes to the Abridged Financial Statements

Year Ended 31 August 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 Unit 29-31 Clock Tower Business Centre, Works Road, Chesterfield, Derbyshire, S43 2PE.

2. Statement of compliance

These abridged 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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents care fees earned during the period.

Income tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date 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 the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and 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:

Equipment	-	15% straight line
Fixtures and fittings	-	15% reducing balance

Government grants

Government and local authority grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.

Financial instruments

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 42 (2020: 40 ).

5. Tangible assets

	£
Cost
At 1 September 2020	20,765
Additions	3,232
Disposals	( 1,479)
	--------
At 31 August 2021	22,518
	--------
Depreciation
At 1 September 2020	17,715
Charge for the year	1,470
Disposals	( 1,351)
	--------
At 31 August 2021	17,834
	--------
Carrying amount
At 31 August 2021	4,684
	--------
At 31 August 2020	3,050
	--------

6. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	75	75	75	75
	----	----	----	----

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2021	2020
	£	£
Not later than 1 year	462	792
Later than 1 year and not later than 5 years	–	1,320
	----	-------
	462	2,112
	----	-------