Clogher Valley Care Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: NI067105 (Northern Ireland)

CLOGHER VALLEY CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Miriam McCormack

Jennifer Frizelle

REGISTERED OFFICE:

T5 Dungannon Enterprise Centre

2 Coalisland Road

Dungannon

BT71 6JT

REGISTERED NUMBER:

NI067105 (Northern Ireland)

ACCOUNTANTS:

CavanaghKelly

Chartered Accountants

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Intangible assets

5

98,250

117,900

Property, plant and equipment

6

34,768

12,450

133,018

130,350

CURRENT ASSETS

Receivables: amounts falling due within one year

7

272,545

280,476

PAYABLES

Amounts falling due within one year

8

(94,661

)

(109,091

)

NET CURRENT ASSETS

177,884

171,385

TOTAL ASSETS LESS CURRENT LIABILITIES

310,902

301,735

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

310,900

301,733

310,902

301,735

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:

Miriam McCormack - Director

Jennifer Frizelle - Director

1.	STATUTORY INFORMATION

Clogher Valley Care Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Revenue

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

Goodwill

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

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.

Property, plant and equipment

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

Fixtures and fittings

-

20% straight line

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 95 (2022 - 96 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

393,000

AMORTISATION

At 1 April 2022

275,100

Amortisation for year

19,650

At 31 March 2023

294,750

NET BOOK VALUE

At 31 March 2023

98,250

At 31 March 2022

117,900

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 April 2022

27,712

Additions

27,830

At 31 March 2023

55,542

DEPRECIATION

At 1 April 2022

15,262

Charge for year

5,512

At 31 March 2023

20,774

NET BOOK VALUE

At 31 March 2023

34,768

At 31 March 2022

12,450

7.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade receivables

264,162

270,696

Other receivables

1,224

5,654

Directors' current accounts

1,891

657

Prepayments and accrued income

5,268

3,469

272,545

280,476

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

45,030

55,652

Trade payables

2,152

1,982

Tax

4,356

11,733

Social security and other taxes

1,131

-

Other payables

1,357

3,890

Accruals and deferred income

40,635

35,834

94,661

109,091

The bank overdraft is secured by way of an all monies floating charge over the undertaking of the company and all its property.