| SAINTS CARE AGENCY LTD |
| Registered number: |
08843326 |
| Balance Sheet |
| as at 31 January 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
- |
|
|
2,335 |
| Tangible assets |
4 |
|
|
3,482 |
|
|
3,076 |
|
|
|
|
3,482 |
|
|
5,411 |
|
| Current assets |
| Debtors |
5 |
|
120,319 |
|
|
44,589 |
| Cash at bank and in hand |
|
|
32,265 |
|
|
2 |
|
|
|
152,584 |
|
|
44,591 |
|
| Creditors: amounts falling due within one year |
6 |
|
(143,214) |
|
|
(83,558) |
|
| Net current assets/(liabilities) |
|
|
|
9,370 |
|
|
(38,967) |
|
| Total assets less current liabilities |
|
|
|
12,852 |
|
|
(33,556) |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(44,167) |
|
|
- |
|
|
|
| Net liabilities |
|
|
|
(31,315) |
|
|
(33,556) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(31,415) |
|
|
(33,656) |
|
| Shareholder's funds |
|
|
|
(31,315) |
|
|
(33,556) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Julie Field |
| Director |
| Approved by the board on 29 October 2021 |
|
| SAINTS CARE AGENCY LTD |
| Notes to the Accounts |
| for the year ended 31 January 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts (the company is not VAT registered as it provides exempt services). Turnover is revenue earned from domiciliary care services and is recognised as soon as services are successfully provided to end clients. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets which, individually or collectively of the same class, cost £2,000 or less are expensed via the profit and loss account as equipment expensed in the year of purchase. Likewise, high tech assets (such as smart phones whose market values significantly drop 12 months after their release date) and general tools are written off as equipment expensed in the year of purchase irrespective of the purchase cost. All other tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
Motors |
over 5 years for new and 2 years for used |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Going concern |
|
At 31 January 2021 the company had net current assets of £12,852 (2020: net current liabilities £38,967). Whilst this is an improvement from 2020, the company had net liabilities of £31,315 (2020: £33,556)
The company continued to have an agreed a payment plan to settle outstanding tax liabilities and believes other creditors will not be calling for immediate settlement. In June 2020 the company obtained a long-term bank loan which the director believes will help it achieve a better future. In all other respects, the director believes the company is able to settle its liabilities as they fall due. Likewise, the director believes it is in the best interest of the company to continue trading and has adopted the going concern basis in the preparation of these financial statements. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
24 |
|
37 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 February 2020 |
11,678 |
|
At 31 January 2021 |
11,678 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 February 2020 |
9,343 |
|
Provided during the year |
2,335 |
|
At 31 January 2021 |
11,678 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2021 |
- |
|
At 31 January 2020 |
2,335 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 February 2020 |
2,549 |
|
1,295 |
|
3,844 |
|
Additions |
- |
|
1,975 |
|
1,975 |
|
At 31 January 2021 |
2,549 |
|
3,270 |
|
5,819 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2020 |
498 |
|
270 |
|
768 |
|
Charge for the year |
510 |
|
1,059 |
|
1,569 |
|
At 31 January 2021 |
1,008 |
|
1,329 |
|
2,337 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2021 |
1,541 |
|
1,941 |
|
3,482 |
|
At 31 January 2020 |
2,051 |
|
1,025 |
|
3,076 |
|
|
| 5 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
45,280 |
|
12,257 |
|
Deferred tax asset |
|
|
|
|
9,219 |
|
9,949 |
|
Accrued income |
|
|
|
|
30,952 |
|
21,718 |
|
Prepayments |
|
|
|
|
190 |
|
665 |
|
Taxes recoverable |
|
|
|
|
8,506 |
|
- |
|
Other debtors |
26,172 |
|
- |
|
|
|
|
|
|
120,319 |
|
44,589 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans and overdrafts |
5,833 |
|
- |
|
Trade creditors |
2,493 |
|
2,005 |
|
Taxation and social security costs |
95,148 |
|
53,550 |
|
Accruals |
354 |
|
340 |
|
Other creditors |
39,386 |
|
27,663 |
|
|
|
|
|
|
143,214 |
|
83,558 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans |
44,167 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 8 |
COVID-19 and Brexit |
|
|
The company managed to just about weather the storm during COVID-19 pandemic. Some clients succumbed to the pandemic and obtaining new client leads became rather difficult especially during the peak pandemic months between March to June 2020.
Brexit has not had an immediate impact as the company did not reply on European workforce in the years to 31 January 2021. However, the company believes Brexit will affect the supply of skilled carers in the market which would affect the company in future. |
|
|
| 9 |
Other information |
|
|
SAINTS CARE AGENCY LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
274 Loughborough Road |
|
Leicester |
|
LE4 5LH |
