| PB Residential Care Limited |
| Notes to the Accounts |
| for the year ended 30 April 2021 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Going concern |
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As at 30th April 2021, the company had net current liabilities of £365,014. It relies on the support of its parent company, Dryband One Limited, to discharge its liabilities. Although group creditors are shown as payable within one year, the directors of Dryband One Limited have confirmed that the they will not call on these loans for the foreseeable future, being at least 12 months from the date of approving these financial statements. The going concern principle has been applied and the director believes that this is appropriate. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Covid-19 funding |
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Other operating income includes amounts received from government to enable the business to manage the impact of Covid-19. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
20% reducing balance |
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The estimated useful life of buildings is 50 years. Depreciation is not provided on freehold buildings because the residual value of the buildings at the end of their useful life is expected to be higher than its cost or revaluation. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Mark Jackson BA FCA |
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Firm: |
Jacksons |
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Date of audit report: |
28 January 2022 |
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| 3 |
Employees |
2021 |
|
2020 |
| Number |
Number |
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Average number of persons employed by the company |
24 |
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24 |
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| 4 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 May 2020 |
100,000 |
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At 30 April 2021 |
100,000 |
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Amortisation |
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At 1 May 2020 |
100,000 |
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At 30 April 2021 |
100,000 |
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Net book value |
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At 30 April 2021 |
- |
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| 5 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 May 2020 |
1,061,068 |
|
177,640 |
|
1,238,708 |
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Additions |
- |
|
2,700 |
|
2,700 |
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At 30 April 2021 |
1,061,068 |
|
180,340 |
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1,241,408 |
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Depreciation |
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At 1 May 2020 |
561,068 |
|
171,173 |
|
732,241 |
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Charge for the year |
- |
|
1,524 |
|
1,524 |
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At 30 April 2021 |
561,068 |
|
172,697 |
|
733,765 |
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Net book value |
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At 30 April 2021 |
500,000 |
|
7,643 |
|
507,643 |
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At 30 April 2020 |
500,000 |
|
6,467 |
|
506,467 |
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| 6 |
Debtors |
2021 |
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2020 |
| £ |
£ |
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Trade debtors |
1,495 |
|
8,200 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
297,486 |
|
272,370 |
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Other debtors |
17,594 |
|
11,428 |
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316,575 |
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291,998 |
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| 7 |
Creditors: amounts falling due within one year |
2021 |
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2020 |
| £ |
£ |
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Trade creditors |
10,843 |
|
5,557 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
776,470 |
|
750,497 |
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Taxation and social security costs |
19,268 |
|
25,993 |
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Other creditors |
41,528 |
|
38,038 |
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848,109 |
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820,085 |
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| 8 |
Creditors: amounts falling due after one year |
2021 |
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2020 |
| £ |
£ |
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Other creditors |
9,090 |
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9,090 |
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| 9 |
Contingent liabilities |
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The company has entered into a debenture with Royal Bank of Scotland and there is a first legal charge over the freehold land and buildings to secure the indebtedness of the group. At 30th April 2021 the total indebtedness of the group was £386,183. |
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| 10 |
Controlling party |
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The company's parent is Dryband One Limited, a company incorporated in England. The ultimate control is held by L A K Khurana. |
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Dryband One Limited prepares consolidated accounts. Its registered office is 68 Butt Lane, Laceby, Grimsby, North East Lincolnshire DN37 7AH |
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| 11 |
Other information |
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PB Residential Care Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Newgrove House |
|
Station Road |
|
New Waltham |
|
Grimsby |
|
DN36 4RZ |
