Company Registration Number: |
for the financial year ended |
Allied Care (Mental Health) Limited |
DIRECTOR AND OTHER INFORMATION |
Director | |
Company Registration Number | |
Registered Office and Business Address | |
United Kingdom | |
Independent Auditors | |
Chartered Accountants and Statutory Auditors | |
70 Northumberland Road | |
Ballsbridge | |
Dublin 4 | |
D04 VH66 | |
Ireland | |
Bankers | |
250 Bishopsgate | |
London | |
EC2M 4AA | |
United Kingdom | |
Solicitors | |
20 Gresham Street | |
EC2V 7JE | |
England |
Allied Care (Mental Health) Limited |
STRATEGIC REPORT |
for the financial year ended 31 December 2022 |
The director presents their strategic report on the company for the financial year ended 31 December 2022. |
Principal Activities and Review of the Company's Business |
The company's principal activity continued to be the provision of residential care for adults with learning and physical disabilities and sensory needs. |
Principal Risks and Uncertainties |
The Company has identified that the key risks and uncertainties the Company faces relate to the risk of a decrease in occupancy, the risk of increased salary costs and the potential increase in compliance requirements in accordance with company, health and safety, taxation and other legislation. The Company mitigates these risks as follows: The Company continually monitors the level of activity, prepares and monitors its budgets targets and projections; The Company ensures that increases in income are agreed in advance of increases in salary costs: and The Company closely monitors emerging changes to regulations and legislation on an on-going basis. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, service users and visitors to the property. |
Development and Performance |
Turnover has decreased by 0.9% to £2,184,780 in the current financial year. The director believes that turnover should remain steady in the coming year as services adapt to manage the effects of the COVID-19 pandemic, and receive financial support from the government. |
Assets and liabilities and financial position |
The total assets of the business have increased by £1,503,936 to £3,110,176; the total liabilities have increased by £1,341,586 to £3,717,250, resulting in an increase in net assets of £162,350. The director believes that the financial position of the company is satisfactory. |
Other Key Performance Indicators |
A non-financial key performance indicator for the company is the occupancy level. This is reviewed on a weekly basis by management to ensure the profitability of the company and of the group. |
On behalf of the board |
___________________________ | |||||
Director | |||||
Allied Care (Mental Health) Limited |
DIRECTOR'S REPORT |
for the financial year ended 31 December 2022 |
The director presents their report and the audited financial statements for the financial year ended 31 December 2022. |
Principal Activity |
Results and Dividends |
The profit/(loss) for the financial year after providing for depreciation amounted to £205,779 (2021 - £(105,776)). |
The director does not recommend payment of a dividend. |
Director |
The director who served during the financial year is as follows: |
Eugene Kavanagh |
Future Developments |
The company plans to continue its present activities and current trading levels. Employees are kept as fully informed as practicable about developments within the business. |
Post-Balance Sheet Events |
There have been no significant events affecting the company since the financial year-end. |
Political Contributions |
Employee Engagement |
Employees are kept as fully informed as practicable about developments within the business. It is the policy of the company to offer opportunities to all employees having regard to their aptitudes and abilities in relation to jobs available. |
Statement of Director's Responsibilities |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law the director must not approve the financial statements unless they is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
|
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Each person who is a director at the date of approval of this report confirms that: In so far as the director is aware: -there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and -the director has taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. |
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Auditors |
The auditors, Lowry & Associates, (Chartered Accountants) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006. |
Financial risk management |
The Company's operations expose it to a variety of financial risks that include liquidity risk, credit risk, interest rate risk and foreign exchange risk. The Company has risk management policies in place to manage the financial exposures. Liquidity risk: The Company maintains adequate bank facilities to ensure sufficient short term finance for continuing operations. Credit risk: The Company has implemented credit control policies that require appropriate checks on potential customers. Overall exposure to any customer is managed through credit limits. Interest rate risk: The Company manages its exposure to interest rate risk by maintaining an appropriate balance of fixed and variable rate debt. Foreign exchange risk: The Company undertakes a small number of foreign transactions, principally in euros. No hedging takes place. |
On behalf of the board |
___________________________ |
Director |
INDEPENDENT AUDITOR'S REPORT |
to the Shareholders of Allied Care (Mental Health) Limited |
Report on the audit of the financial statements |
Opinion |
In our opinion the financial statements: -give a true and fair view of the state of the company's affairs as at 31 December 2022 and of its profit for the financial year then ended; -have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and -have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
Conclusions relating to going concern |
In auditing the financial statements, we has concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we has performed, we has not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other Information |
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept; or | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | the financial statements are not in agreement with the accounting records and returns; or | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | certain disclosures of director's remuneration specified by law are not made; or | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | we have not received all the information and explanations we require for our audit. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Responsibilities of director for the financial statements |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
Auditor's responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Based on our understanding of the group and industry, we identified that the principal risks of non-compliance with laws and regulations related to breaches of laws & regulations and regulatory compliance, including conduct of business, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006. We evaluated managements incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce costs and management bias in accounting estimates. Audit procedures performed by the group engagement team included: 1. Review of correspondence with and reports to the independent regulator, Care Quality Commission (CQC); 2. Reviewed reporting to the CQC in respect of compliance and legal matters; 3. Review a sample of legal correspondence with legal advisors; 4. Enquiries of management and review of internal reports in so far as they related to the financial statements; 5. Obtain legal confirmations from legal advisors relating to material litigation and compliance matters; 6. Challenging assumptions and judgements made by management in its significant accounting estimates 7. Obtaining confirmations from third parties to confirm the existence of a sample of transactions; 8. Identifying and testing journal entries, including those posted with certain descriptions, posted and approved by the same individual, backdated journals or posted by infrequent and unexpected users. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of noncompliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
__________________________________ |
for and on behalf of |
70 Northumberland Road |
Ballsbridge |
Dublin 4 |
D04 VH66 |
Ireland |
Allied Care (Mental Health) Limited |
APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT |
Further information regarding the scope of our responsibilities as auditor |
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: |
- | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. |
Allied Care (Mental Health) Limited |
PROFIT AND LOSS ACCOUNT |
for the financial year ended 31 December 2022 |
2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes | £ | £ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Turnover | 3 | |||
Cost of sales | ( |
( |
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───────── | ───────── | |||
Gross profit | ||||
Administrative expenses | ( |
( |
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Other operating income | - | |||
───────── | ───────── | |||
Operating profit | 4 | |||
Interest payable and similar expenses | 5 | - | ( |
|
───────── | ───────── | |||
Profit/(loss) before taxation | ( |
|||
Tax on profit/(loss) | 7 | - | - | |
───────── | ───────── | |||
Profit/(loss) for the financial year | ( |
|||
───────── | ───────── | |||
Total comprehensive income | 205,779 | (105,776) | ||
═════════ | ═════════ |
Allied Care (Mental Health) Limited |
Company Registration Number: |
BALANCE SHEET |
as at |
2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes | £ | £ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Assets |
Tangible assets | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets |
Debtors | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash at bank and in hand | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payables: amounts falling due within one year | 11 | (1,200,467) | (3,985,376) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Current Liabilities | ( |
( |
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───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets less Current Liabilities | ( |
( |
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═════════ | ═════════ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital and Reserves |
Called up share capital | 13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retained earnings | ( |
( |
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───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders' Deficit | ( |
( |
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═════════ | ═════════ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved by the Director and authorised for issue on |
________________________________ | |||||||
Director | |||||||
Allied Care (Mental Health) Limited |
STATEMENT OF CHANGES IN EQUITY |
as at 31 December 2022 |
Called up | Retained | Total | |
share | earnings | ||
capital | |||
£ | £ | £ | |
At 1 January 2021 | 2 | (769,426) | (769,424) |
───────── | ───────── | ───────── | |
Loss for the financial year | - | (105,776) | (105,776) |
───────── | ───────── | ───────── | |
At 31 December 2021 | 2 | ( |
(875,200) |
───────── | ───────── | ───────── | |
Profit for the financial year | - | 205,779 | |
───────── | ───────── | ───────── | |
At 31 December 2022 | 2 | ( |
(669,421) |
═════════ | ═════════ | ═════════ |
Allied Care (Mental Health) Limited |
NOTES TO THE FINANCIAL STATEMENTS |
for the financial year ended 31 December 2022 |
1. | General Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allied Care (Mental Health) Limited is a company limited by shares incorporated and registered in the England. The registered number of the company is 04165416. The registered office of the company is Throwleigh Lodge, Ridgeway, Horsell, Woking, Surrey, GU21 4QR, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. |
2. | Summary of Significant Accounting Policies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement of compliance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of preparation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flow statement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The company has availed of the exemption in FRS 102 from the requirement to prepare a Statement of Cash Flows because it is a subsidiary undertaking for which the consolidated financial statements are publicly available. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Turnover | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends on preference shares, which are classified as debt, are cumulative and payment is mandatory, and hence have been presented within Interest payable and similar charges. |
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Loans and borrowings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All borrowings by the company are initially recorded at the amount of cash received less separately incurred transaction costs, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date. |
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Judgements and key sources of estimation uncertainty | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Going Concern: The directors have prepared budgets and cash flows for a period of at least twelve months from the date of the approval of the financial statements which demonstrate that there is no material uncertainty regarding the companys ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern. |
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Government grants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tangible assets and depreciation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land and buildings freehold | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plant and machinery | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Motor vehicles | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and other debtors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Other financial assets including trade debtors arising from goods sold to customers on short-term credit, are initially measured at the undiscounted amount of cash receivable from that debtor, which is normally the invoice price. If payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate, this constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, other financial assets are measured at amortised cost less impairment, where there is objective evidence of impairment. |
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Cash at bank and in hand | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and other payables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other financial liabilities, including trade creditors arising from goods purchased from suppliers on short-term credit, are initially measured at the undiscounted amount owed to the creditor, which is normally the invoice price. Liabilities that are settled within one year are not discounted. If payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate, this constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, other financial liabilities are measured at amortised cost. |
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Employee benefits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions to defined contribution plans are expensed in the period to which they relate. Short term benefits, including holiday pay, are recognised as an expense in the period in which employees have become entitled to the benefits as a result of service rendered to the company. |
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Taxation and deferred taxation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date. |
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Foreign currencies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary share capital | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The ordinary share capital of the company is presented as equity. |
3. | Turnover | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The whole of the company's turnover is attributable to its market in the United Kingdom and is derived from the principal activity of the provision of residential care for adults with learning and physical disabilities and sensory needs. |
4. | Operating profit | 2022 | 2021 |
£ | £ | ||
Operating profit is stated after charging: | |||
Depreciation of tangible assets | |||
═════════ | ═════════ |
5. | Interest payable and similar expenses | 2022 | 2021 |
£ | £ | ||
On bank loans and overdrafts | - | 306,938 | |
═════════ | ═════════ |
6. | Employees and remuneration | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of employees | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The average number of persons employed (including executive director) during the financial year was as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Number | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Staff | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
═════════ | ═════════ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The staff costs comprise: | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
£ | £ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wages and salaries | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
═════════ | ═════════ |
7. | Tax on profit/(loss) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
£ | £ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of charge in the financial year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current tax: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporation tax | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
═════════ | ═════════ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
No charge to tax arises as the company has availed of Group Relief |
8. | Intangible assets | ||
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2022 | |||
───────── | ───────── | ||
At 31 December 2022 | |||
───────── | ───────── | ||
Amortisation | |||
At 31 December 2022 | |||
───────── | ───────── | ||
Net book value | |||
At 31 December 2022 | - | - | |
═════════ | ═════════ |
9. | Tangible assets | ||||
Land and | Plant and | Motor | Total | ||
buildings | machinery | vehicles | |||
freehold | |||||
£ | £ | £ | £ | ||
Cost | |||||
At 1 January 2022 | 11,063 | 187,312 | 29,895 | ||
───────── | ───────── | ───────── | ───────── | ||
At 31 December 2022 | 11,063 | 187,312 | 29,895 | ||
───────── | ───────── | ───────── | ───────── | ||
Depreciation | |||||
At 1 January 2022 | 4,056 | 148,918 | 26,206 | ||
Charge for the financial year | - | 8,814 | 922 | ||
───────── | ───────── | ───────── | ───────── | ||
At 31 December 2022 | 4,056 | 157,732 | 27,128 | ||
───────── | ───────── | ───────── | ───────── | ||
Net book value | |||||
At 31 December 2022 | 7,007 | 29,580 | 2,767 | ||
═════════ | ═════════ | ═════════ | ═════════ | ||
At 31 December 2021 | 7,007 | 38,394 | 3,689 | ||
═════════ | ═════════ | ═════════ | ═════════ |
10. | Debtors | 2022 | 2021 |
£ | £ | ||
Trade debtors | ( |
||
Amounts owed by group undertakings | - | ||
Other debtors | - | ||
Taxation (Note 12) | - | 1,354 | |
Prepayments and accrued income | |||
───────── | ───────── | ||
═════════ | ═════════ |
11. | Payables | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts falling due within one year | £ | £ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade payables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts owed to group undertakings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other creditors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,200,467 | 3,985,376 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
═════════ | ═════════ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The repayment terms of trade creditors vary between on demand and ninety days. No interest is payable on trade creditors. Tax and social insurance are subject to the terms of the relevant legislation. Interest accrues on late payment at the rate of 1% per month. No interest was due at the financial year end date. The terms of the accruals are based on the underlying contracts. |
12. | Taxation | 2022 | 2021 |
£ | £ | ||
Debtors: | |||
VAT | - | 1,354 | |
═════════ | ═════════ |
13. | Share capital | 2022 | 2021 | ||
£ | £ | ||||
Description | Number of shares | Value of units | |||
Allotted, called up and fully paid | |||||
£ |
2 | 2 | |||
═════════ | ═════════ |
14. | Capital commitments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
15. | Related party transactions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions with group companies include short-term loan amount due (to)/from the related party (£930,483) and (£1,069,798) (2021). |
16. | Parent company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
17. | Post-Balance Sheet Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
There have been no significant events affecting the company since the financial year-end. |
18. | Going Concern | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The company acknowledges its reliance on the continued support of the senior lenders of the Group. This support is fundamental to the company's ability to meet its liabilities as they fall due. The senior lenders have continued to provide financial support and have not indicated any intention to withdraw such support. The directors have undertaken a rigorous assessment of the company's ability to continue as a going concern. This assessment has included a review of the company's current financial position, its cash flow forecasts, and the existing commitments and contingencies. Despite the reliance on the lenders' support, the directors have concluded that there are no material uncertainties that cast significant doubt upon the company's ability to continue as a going concern. The reasons for this conclusion are: - The ongoing commitment of the senior lenders, as evidenced by historical support. - The robustness of its business model. - A comprehensive review of the company's budgeting and financial projections, which indicate that the company is well-positioned to manage its financial obligations for a period of at least twelve months from the date of approving these financial statements. Based on the above assessment, the directors confirm that they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
Allied Care (Mental Health) Limited |
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS |
TRADING STATEMENT |
for the financial year ended 31 December 2022 |
2022 | 2021 | ||
£ | £ | ||
Sales | 2,284,285 | 2,184,780 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales |
Direct costs | 77,275 | 67,837 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wages and salaries | 1,039,012 | 1,037,420 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subcontract costs | 132,692 | 84,892 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,248,979 | 1,190,149 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross profit | 1,035,306 | 994,631 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross profit Percentage | 45.3% | 45.5% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Administrative expenses |
Staff training | - | 6,993 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rent payable | 565,200 | 565,200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rates | 13,655 | 12,117 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Insurance | 6,240 | 6,217 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Light and heat | 60,168 | 41,053 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cleaning | 8,712 | 14,939 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repairs and maintenance | 95,127 | 87,536 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Printing, postage and stationery | 3,355 | 3,478 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Telephone | - | 2,020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computer costs | 11,117 | 8,231 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hire of equipment | 21,522 | 10,934 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Motor expenses | - | 13,414 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Travelling and entertainment | 15,198 | 319 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal and professional | 14,400 | 4,189 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accountancy | 1,912 | 3,825 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank charges | 287 | 425 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General expenses | - | 1,105 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscriptions | 2,898 | 4,965 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation of tangible assets | 9,736 | 8,004 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
829,527 | 794,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance |
Bank interest paid | - | 306,938 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
───────── | ───────── | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Miscellaneous income |
Sundry income | - | 1,495 | |
───────── | ───────── | ||
Net profit/(loss) | 205,779 | (105,776) | |
═════════ | ═════════ |