Company Registration No. 03025614 (England and Wales)
PREMIER HOME CARE NORTH WALES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
PAGES FOR FILING WITH REGISTRAR
PREMIER HOME CARE NORTH WALES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PREMIER HOME CARE NORTH WALES LTD
BALANCE SHEET
AS AT
31 OCTOBER 2020
31 October 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
4
13,817
20,962
Current assets
Debtors
5
398,936
478,759
Cash at bank and in hand
93,389
207,342
492,325
686,101
Creditors: amounts falling due within one year
6
(57,657)
(49,024)
Net current assets
434,668
637,077
Total assets less current liabilities
448,485
658,039
Creditors: amounts falling due after more than one year
7
(50,000)
Provisions for liabilities
(27)
Net assets
398,485
658,012
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss reserves
397,485
657,012
Total equity
398,485
658,012
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PREMIER HOME CARE NORTH WALES LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2020
31 October 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 June 2021 and are signed on its behalf by:
Mrs G Charlick
Director
Company Registration No. 03025614
PREMIER HOME CARE NORTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
- 3 -
1
Accounting policies
Company information
Premier Home Care North Wales Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Pinfold House, Pinfold Lane, Alltami, Mold, CH7 6NZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services provided in the period.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
15 years straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
33% reducing balance
Computers
33% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
PREMIER HOME CARE NORTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred
. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
46
49
3
Taxation
2020
2019
£
£
Current tax
UK corporation tax on profits for the current period
13,332
25,203
Deferred tax
Origination and reversal of timing differences
(27)
(185)
Total tax charge
13,305
25,018
PREMIER HOME CARE NORTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2019
75,025
163,490
238,515
Additions
1,395
1,395
At 31 October 2020
75,025
164,885
239,910
Depreciation and impairment
At 1 November 2019
63,926
153,627
217,553
Depreciation charged in the year
5,002
3,538
8,540
At 31 October 2020
68,928
157,165
226,093
Carrying amount
At 31 October 2020
6,097
7,720
13,817
At 31 October 2019
11,099
9,863
20,962
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
39,236
58,655
Other debtors
359,700
420,104
398,936
478,759
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
1,500
2,630
Corporation tax
13,332
25,203
Other taxation and social security
19,512
8,125
Other creditors
23,313
13,066
57,657
49,024
7
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
50,000
PREMIER HOME CARE NORTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 6 -
8
Provisions for liabilities
2020
2019
£
£
Deferred tax liabilities
27
9
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
998 Ordinary shares of £1 each
998
998
1 A Ordinary shares of £1 each
1
1
1 B Ordinary shares of £1 each
1
1
1,000
1,000
10
Directors' transactions
Dividends totalling £310,997 (2019 - £0) were paid in the year in respect of shares held by the company's directors.
During the year under consideration the company paid rent of £24,000 (2019 - £24,000) to Mr G Charlick & Mrs G Charlick, both directors, in the normal course of business.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Mr G & Mrs G Charlick
2.25
410,153
266,110
8,906
(336,558)
348,611
410,153
266,110
8,906
(336,558)
348,611