Solace Care Group Ltd - Accounts to registrar (filleted) - small 18.2

Solace Care Group Ltd - Accounts to registrar (filleted) - small 18.2

SOLACE CARE GROUP LTD - Company Information

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REGISTERED NUMBER: 12092660 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

FOR

SOLACE CARE GROUP LTD
SOLACE CARE GROUP LTD (REGISTERED NUMBER: 12092660)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOLACE CARE GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2022







DIRECTOR: Mr Zahid Ali Choudhry





REGISTERED OFFICE: Unit 2a, 420 Eastern Avenue
Ilford
Essex
IG2 6NQ





REGISTERED NUMBER: 12092660 (England and Wales)





ACCOUNTANTS: Hybrid Accountancy Limited
Suite 3, 16 Village Way East
Harrow
HA2 7LU
Page 1
SOLACE CARE GROUP LTD (REGISTERED NUMBER: 12092660)

BALANCE SHEET
31 JULY 2022

31/7/22 31/7/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,222 -

CURRENT ASSETS
Debtors 5 589,633 285,690
Cash at bank and in hand 32,047 28,893
621,680 314,583
CREDITORS
Amounts falling due within one year 6 536,754 287,783
NET CURRENT ASSETS 84,926 26,800
TOTAL ASSETS LESS CURRENT
LIABILITIES
87,148
26,800

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 87,048 26,700
SHAREHOLDERS' FUNDS 87,148 26,800

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 June 2023 and were signed by:



Mr Zahid Ali Choudhry - Director


The notes form part of these financial statements

Page 2
SOLACE CARE GROUP LTD (REGISTERED NUMBER: 12092660)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1. STATUTORY INFORMATION

Solace Care Group 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.

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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - NIL ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 2,963
At 31 July 2022 2,963
DEPRECIATION
Charge for year 741
At 31 July 2022 741
NET BOOK VALUE
At 31 July 2022 2,222

Page 3 continued...
SOLACE CARE GROUP LTD (REGISTERED NUMBER: 12092660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/22 31/7/21
£    £   
Trade debtors 164,134 13,268
Amounts owed by group undertakings 422,499 272,422
Other debtors 3,000 -
589,633 285,690

Amounts owed by group undertakings during the year 2022 consists of: Solace Care Basildon Ltd- £36,558 (2021 -£8,355), Solace Care Morden Ltd - £154,702 (2021- £88,629).Solace Care Clayhall Ltd - £167,871 (2021- £54,879). Solace Care 7 Kings £367.94, Aspiring Homes £63,000.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/22 31/7/21
£    £   
Bank loans and overdrafts (see note 7) 38,335 48,336
Trade creditors 355,179 -
Amounts owed to group undertakings 82,632 205,252
Tax 38,860 29,858
Social security and other taxes 5,168 -
Directors' current accounts 580 1,637
Accruals and deferred income 14,500 -
Accrued expenses 1,500 2,700
536,754 287,783

Amounts owed to group undertakings during the year 2022 consists of: Solace Care Redbridge Ltd £52,422 Malaika Investment (UK) Ltd-£30,210 (2021 - £120,052).

7. LOANS

An analysis of the maturity of loans is given below:

31/7/22 31/7/21
£    £   
Amounts falling due within one year or on demand:
Bank loans 38,335 48,336

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/7/22 31/7/21
value: £    £   
1 Ordinary 100 100 100

Page 4 continued...
SOLACE CARE GROUP LTD (REGISTERED NUMBER: 12092660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022

9. RESERVES
Retained
earnings
£   

At 1 August 2021 26,700
Profit for the year 66,348
Dividends (6,000 )
At 31 July 2022 87,048

Page 5