Registration number:
Rosecare Limited
for the Year Ended 31 March 2019
Rosecare Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Rosecare Limited
(Registration number: 02145819)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
- |
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Other financial assets |
390 |
489 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Page 1 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
UK
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 2 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
25% on a straight line basis |
Computer equipment |
25% on a straight line basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10 years on a straight line basis |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.
Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price, less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 3 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
2 |
Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are paid.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 4 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2018 |
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Disposals |
( |
( |
At 31 March 2019 |
- |
- |
Amortisation |
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At 1 April 2018 |
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Amortisation eliminated on disposals |
( |
( |
At 31 March 2019 |
- |
- |
Carrying amount |
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At 31 March 2019 |
- |
- |
At 31 March 2018 |
- |
- |
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2018 |
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Disposals |
( |
( |
At 31 March 2019 |
- |
- |
Depreciation |
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At 1 April 2018 |
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Eliminated on disposal |
( |
( |
At 31 March 2019 |
- |
- |
Carrying amount |
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At 31 March 2019 |
- |
- |
At 31 March 2018 |
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Page 5 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2018 |
489 |
489 |
Fair value adjustments |
(107) |
(107) |
Additions |
8 |
8 |
At 31 March 2019 |
390 |
390 |
Impairment |
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At 1 April 2018 |
- |
- |
At 31 March 2019 |
- |
- |
Carrying amount |
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At 31 March 2019 |
|
390 |
At 31 March 2018 |
|
489 |
Debtors |
Note |
2019 |
2018 |
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Trade debtors |
- |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
- |
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Other debtors |
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Page 6 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
- |
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Taxation and social security |
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Accruals and deferred income |
- |
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Other creditors |
- |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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|
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4,798 |
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4,798 |
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200 |
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200 |
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2 |
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2 |
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Dividends |
Interim dividends paid
2019 |
2018 |
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Interim dividend of £
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- |
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Interim dividend of £
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- |
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- |
Page 7 |
Rosecare Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
Related party transactions |
Summary of transactions with other related parties
The directors are also directors and shareholders of Rosecare Chesterfield Limited. The loan to Rosecare Chesterfield is interest free and repayable on demand. At the balance sheet date the amount due from Rosecare Chesterfield Limited was nil (2018: £67,461).
Rosecare (Fitness) Limited
The directors are also directors and shareholders of Rosecare (Fitness) Limited. The loan to Rosecare (Fitness) Limited is interest free and repayable on demand. During the year, the loan to Rosecare (Fitness) Limited amounting to £118,505 wa written off to the profit and loss account. At the balance sheet date the amount due from Rosecare (Fitness) Limited was nil (2018: £113,387).
Rosecare (Fine Food) Limited
The directors are also directors and shareholders of Rosecare (Fine Food) Limited. The loan to Rosecare (Fine Food) Limited is interest free and repayable on demand. At the balance sheet date the amount due from Rosecare (Fine Food) Limited was £41,970 (2018: £40,425).
Rosecare Shirebrook Limited
The directors are also directors and shareholders of Rosecare Shirebrook Limited. The loan to Rosecare Shirebrook Limited is interest free and repayable on demand. At the balance sheet date the amount due from Rosecare Shirebrook Limited was £23,641 (2018: £50,962).
Directors
Dividends paid during the year to the directors Hanif Landhani was £13,100 (2018: nil) and to Didarali Ladhani £13,100 (2018: nil).
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