Plenus Care Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07667336

Plenus Care Limited

Filleted Unaudited Abridged Financial Statements

31 October 2022

Plenus Care Limited

Abridged Financial Statements

Year Ended 31 October 2022

Contents	Pages

Abridged statement of financial position	1 to 2

Notes to the abridged financial statements	3 to 7

Plenus Care Limited

Abridged Statement of Financial Position

31 October 2022

	2022		2021
Note	£	£	£

Fixed Assets

Intangible assets	5	4,049	12,149
Tangible assets	6	1,234,548	1,245,282
		------------	------------
		1,238,597	1,257,431

Current Assets

Stocks	3,897	6,294
Debtors	241,988	243,236
Cash at bank and in hand	47,061	180,068
	---------	---------
	292,946	429,598

Creditors: amounts falling due within one year	299,347		250,227
	---------		---------
Net Current (Liabilities)/Assets		( 6,401)	179,371
		------------	------------
Total Assets Less Current Liabilities		1,232,196	1,436,802

Creditors: amounts falling due after more than one year	7		1,025,726	1,187,055

Provisions

Taxation including deferred tax	1,502	703
	------------	------------
Net Assets	204,968	249,044
	------------	------------

Capital and Reserves

Called up share capital	9	5,900	5,000
Share premium account		12,100	–
Profit and loss account		186,968	244,044
		---------	---------
Shareholders Funds		204,968	249,044
		---------	---------

These abridged 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 Section 1A of 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 abridged statement of comprehensive income has not been delivered.

For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Plenus Care Limited

Abridged Statement of Financial Position (continued)

31 October 2022

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 October 2022 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 11 July 2023 , and are signed on behalf of the board by:

C L Hostombe-Daniels
Director

Company registration number: 07667336

Plenus Care Limited

Notes to the Abridged Financial Statements

Year Ended 31 October 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Waynflete Street, London, SW18 3QE.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the income statement represents residents fees earned during the year.

Income tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and 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.

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:

Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Equipment	-	15% reducing balance

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. Freehold property is not depreciated on the grounds that the depreciation charge and accumulated depreciation would be immaterial. This is due to the company having a policy and practice of regular maintenance and repair resulting in a high residual value. Maintenance and repair charges are recognised in the profit and loss account.

Impairment of fixed assets

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 .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 abridged statement of financial position 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 as a finance cost in profit or loss in the period it arises.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 48 (2021: 51 ).

5. Intangible assets

	£
Cost
At 1 November 2021 and 31 October 2022	660,998
	---------
Amortisation
At 1 November 2021	648,849
Charge for the year	8,100
	---------
At 31 October 2022	656,949
	---------
Carrying amount
At 31 October 2022	4,049
	---------
At 31 October 2021	12,149
	---------

6. Tangible assets

	£
Cost
At 1 November 2021	1,356,152
Additions	9,967
Disposals	( 21,345)
	------------
At 31 October 2022	1,344,774
	------------
Depreciation
At 1 November 2021	110,870
Charge for the year	13,433
Disposals	( 14,077)
	------------
At 31 October 2022	110,226
	------------
Carrying amount
At 31 October 2022	1,234,548
	------------
At 31 October 2021	1,245,282
	------------

7. Creditors: amounts falling due after more than one year

Included within creditors: amounts falling due after more than one year is an amount of £826,955 (2021: £919,326) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

8. Secured liabilities

The aggregate amount of secured liabilities, secured on the assets of the company at the year end were £1,052,299 (2021: £1,204,502)

9. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary A shares of £ 1 each	4,500	4,500	4,500	4,500
Ordinary B shares of £ 1 each	500	500	500	500
Ordinary C shares of £ 1 each	900	900	–	–
	-------	-------	-------	-------
	5,900	5,900	5,000	5,000
	-------	-------	-------	-------

On 21 July 2022 900 Ordinary £1 shares were issued at market value .

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2022	2021
	£	£
Not later than 1 year	1,670	1,670
Later than 1 year and not later than 5 years	2,923	4,594
	-------	-------
	4,593	6,264
	-------	-------

11. Director's advances, credits and guarantees

At the year end the company had an outstanding loan with the director as follows:

		C L Hostombe-Daniels
		£
	Balance brought forward	93,253
	Advances	109,627
	Credits	(69,644)
	Balance carried forward	133,236