Care Without Compromise Limited 31/03/2021 iXBRL

Care Without Compromise Limited 31/03/2021 iXBRL

CARE WITHOUT COMPROMISE LIMITED - Company Information

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Company registration number: 06511464
Care Without Compromise Limited
Unaudited filleted financial statements
31 March 2021
Care Without Compromise Limited
Contents
Balance sheet
Notes to the financial statements
Care Without Compromise Limited
Balance sheet
31 March 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 1,604,805 1,639,272
_________ _________
1,604,805 1,639,272
Current assets
Debtors 6 312,060 160,780
Cash at bank and in hand 122,197 4,665
_________ _________
434,257 165,445
Creditors: amounts falling due
within one year 7 ( 329,012) ( 213,144)
_________ _________
Net current assets/(liabilities) 105,245 ( 47,699)
_________ _________
Total assets less current liabilities 1,710,050 1,591,573
Creditors: amounts falling due
after more than one year 8 ( 569,439) ( 643,206)
Provisions for liabilities ( 39,845) ( 41,883)
_________ _________
Net assets 1,100,766 906,484
_________ _________
Capital and reserves
Called up share capital 9 80 80
Profit and loss account 1,100,686 906,404
_________ _________
Shareholders funds 1,100,766 906,484
_________ _________
For the year ending 31 March 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 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 Profit and loss has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 August 2021 , and are signed on behalf of the board by:
........................................ ........................................
Mr P.A. Doyle Mrs C.E. Richards
Director Director
Company registration number: 06511464
Care Without Compromise Limited
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 24 Beechwood Grove, Pencoed, Bridgend, South Wales, CF35 6SU.
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 have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 2 % straight line
Office equipment - 33 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % 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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applying to the company are basic as defined in the Accounting Standard, and as such are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 71 (2020: 75 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2020 1,839,065 17,371 83,439 14,736 1,954,611
Additions - - - 6,600 6,600
Disposals - - - ( 4,795) ( 4,795)
_________ _________ _________ _________ _________
At 31 March 2021 1,839,065 17,371 83,439 16,541 1,956,416
_________ _________ _________ _________ _________
Depreciation
At 1 April 2020 237,759 14,415 55,838 7,327 315,339
Charge for the year 31,003 985 4,140 1,974 38,102
Disposals - - - ( 1,830) ( 1,830)
_________ _________ _________ _________ _________
At 31 March 2021 268,762 15,400 59,978 7,471 351,611
_________ _________ _________ _________ _________
Carrying amount
At 31 March 2021 1,570,303 1,971 23,461 9,070 1,604,805
_________ _________ _________ _________ _________
At 31 March 2020 1,601,306 2,956 27,601 7,409 1,639,272
_________ _________ _________ _________ _________
6. Debtors
2021 2020
£ £
Trade debtors 84,664 19,259
Prepayments and accrued income 38,891 34,972
Other debtors 188,505 106,549
_________ _________
312,060 160,780
_________ _________
7. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 94,179 80,578
Trade creditors 3,131 107
Social security and other taxes 154,868 117,430
Other creditors 76,834 15,029
_________ _________
329,012 213,144
_________ _________
8. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loans and overdrafts 569,439 643,206
_________ _________
The bank loans are secured by (1) mortgages over the company's freehold trading properties, (2) floating charge over all of the assets of the company, and (3) a personal guarantee of £25,000 by directors P.A. Doyle, D.K. Doyle, J.P. Doyle and C.E. Richards.
Included within creditors: amounts falling due after more than one year is an amount of £ 217,042 (2020 £ 313,175 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Called up share capital
Issued, called up and fully paid
2021 2020
No £ No £
Ordinary shares shares of £ 1.00 each 80 80 80 80
_________ _________ _________ _________
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr P.A. Doyle 34,637 30,323 64,960
Mrs D.K. Doyle 34,637 30,323 64,960
Mr S.G. Richards 1,935 5,727 7,662
Mrs C.E. Richards 1,935 5,727 7,662
Mr J.P. Doyle ( 2,172) 5,575 3,403
Mrs N.L. Doyle ( 2,171) 5,575 3,404
_________ _________ _________
68,801 83,250 152,051
_________ _________ _________
2020
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr P.A. Doyle 37,822 ( 3,185) 34,637
Mrs D.K. Doyle 37,822 ( 3,185) 34,637
Mr S.G. Richards 7,111 ( 5,176) 1,935
Mrs C.E. Richards 7,110 ( 5,176) 1,934
Mr J.P. Doyle 3,150 ( 5,322) ( 2,172)
Mrs N.L. Doyle 3,150 ( 5,321) ( 2,171)
_________ _________ _________
96,165 ( 27,365) 68,800
_________ _________ _________