Exmouth Care Ltd. - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03233986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

EXMOUTH CARE LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R H Gunn

Mr J F Towers

REGISTERED OFFICE:

Amberwood Nursing Home

231 Exeter Road

Exmouth

Devon

EX8 3ED

REGISTERED NUMBER:

03233986 (England and Wales)

ACCOUNTANTS:

Kingscott Dix (Cheltenham) Limited

Chartered Accountants

Malvern View Business Park

Stella Way

Bishops Cleeve

Cheltenham

Gloucestershire

GL52 7DQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,103,341

1,989,959

2,103,341

1,989,959

CURRENT ASSETS

Debtors

6

250,644

275,441

Cash at bank and in hand

386,092

238,719

636,736

514,160

CREDITORS

Amounts falling due within one year

7

(496,866

)

(338,020

)

NET CURRENT ASSETS

139,870

176,140

TOTAL ASSETS LESS CURRENT LIABILITIES

2,243,211

2,166,099

CREDITORS

Amounts falling due after more than one year

8

(171,334

)

(289,376

)

PROVISIONS FOR LIABILITIES

9

(95,000

)

(95,000

)

NET ASSETS

1,976,877

1,781,723

CAPITAL AND RESERVES

Called up share capital

4

4

Revaluation reserve

10

500,000

500,000

Capital redemption reserve

2

2

Retained earnings

1,476,871

1,281,717

SHAREHOLDERS' FUNDS

1,976,877

1,781,723

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2023 and were signed on its behalf by:

Mr R H Gunn - Director

Mr J F Towers - Director

1.	STATUTORY INFORMATION

Exmouth Care Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

Turnover

Turnover represents invoiced fees.

Goodwill

Goodwill has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2021 - 65 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2021

and 31 August 2022

120,000

AMORTISATION

At 1 September 2021

and 31 August 2022

120,000

NET BOOK VALUE

At 31 August 2022

-

At 31 August 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 September 2021

1,892,017

464,227

2,356,244

Additions

106,984

24,811

131,795

At 31 August 2022

1,999,001

489,038

2,488,039

DEPRECIATION

At 1 September 2021

-

366,285

366,285

Charge for year

-

18,413

18,413

At 31 August 2022

-

384,698

384,698

NET BOOK VALUE

At 31 August 2022

1,999,001

104,340

2,103,341

At 31 August 2021

1,892,017

97,942

1,989,959

The freehold property known as Amberwood was revalued upwards during the year ended 31 August 2004 by £500,000 to £674,179. This valuation represented the director's estimation of the value of the property.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

57,317

63,774

Other debtors

130,000

130,000

Tax

47,765

68,483

Prepayments

15,562

13,184

250,644

275,441

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

120,044

124,189

Trade creditors

11,907

29,948

Tax

49,456

-

Social security and other taxes

26,843

19,414

Other creditors

6,443

39,530

Directors' current accounts

262,357

108,778

Accrued expenses

19,816

16,161

496,866

338,020

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 2-5 years

171,334

289,376

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

95,000

95,000

Deferred

tax

£

Balance at 1 September 2021

95,000

Balance at 31 August 2022

95,000

10.

RESERVES

Revaluation

reserve

£

At 1 September 2021

and 31 August 2022

500,000