North East Community Care Limited Filleted accounts for Companies House (small and micro)

NORTH EAST COMMUNITY CARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC297137

North East Community Care Limited

Filleted Unaudited Financial Statements

31 March 2021

North East Community Care Limited

Statement of Financial Position

31 March 2021

	2021	2020
Note	£	£

Fixed Assets

Tangible assets	5	2,522	3,699

Current Assets

Debtors	6	977,072	700,507
Cash at bank and in hand		17,063	11,656
		---------	---------
		994,135	712,163

Creditors: amounts falling due within one year	7	218,155	350,490
		---------	---------
Net Current Assets		775,980	361,673
		---------	---------
Total Assets Less Current Liabilities		778,502	365,372
		---------	---------
Net Assets		778,502	365,372
		---------	---------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	778,402	365,272
	---------	---------
Shareholders Funds	778,502	365,372
	---------	---------

These 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 statement of income and retained earnings has not been delivered.

For the year ending 31 March 2021 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 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 financial statements .

North East Community Care Limited

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 13 July 2021 , and are signed on behalf of the board by:

Mr J Fleming
Director

Company registration number: SC297137

North East Community Care Limited

Notes to the Financial Statements

Year Ended 31 March 2021

1. General Information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is DMA Building, 100 Brand Street, Glasgow, G51 1DG, Scotland.

2. Statement of Compliance

These 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 comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.

Corporation Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

Fixtures and fittings	-	33% reducing balance
Equipment	-	15% reducing balance

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Government Grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity Instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating ot financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate fo return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

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 88 (2020: 89 ).

5. Tangible Assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2020 and 31 March 2021	484	8,280	8,764
	----	-------	-------
Depreciation
At 1 April 2020	253	4,812	5,065
Charge for the year	56	1,121	1,177
	----	-------	-------
At 31 March 2021	309	5,933	6,242
	----	-------	-------
Carrying amount
At 31 March 2021	175	2,347	2,522
	----	-------	-------
At 31 March 2020	231	3,468	3,699
	----	-------	-------

6. Debtors

	2021	2020
	£	£
Trade debtors	151,773	223,350
Amounts owed by group undertakings and undertakings in which the company has a participating interest	752,599	396,652
Other debtors	72,700	80,505
	---------	---------
	977,072	700,507
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	–	100,652
Trade creditors	5,453	10,864
Amounts owed to group undertakings and undertakings in which the company has a participating interest	40,000	–
Corporation tax	71,999	23,436
Social security and other taxes	17,065	62,582
Other creditors	83,638	152,956
	---------	---------
	218,155	350,490
	---------	---------

Included in bank loans and overdrafts is a creditor of £nil (2020 - £100,652) which is secured by a floating charge over the trade debtors balance.

8. Related Party Transactions

The company was under the control of Mr J Fleming throughout the current and previous year. Mr J Fleming is the managing director and The Jon Fleming Group Limited is the majority shareholder. During the year, the company operated intercompany loan accounts to which North East Community Care Limited was due £66,890 (2020 - £27,258) from The Jon Fleming Group Limited at the year end. The company was also due to receive £608,589 (2020 - £369,394) from Mochridhe Limited at the year end. In addition, the company operated intercompany accounts with Kukoon Living Limited and Advanced Care Limited. Included within debtors is a balance due from Kukoon Living Limited of £77,120 (2020 - £nil). Included within creditors is a balance of £40,000 (2020 - £nil) due to Advanced Care Limited. There is currently no repayment terms on these balances and no interest is accruing.

9. Controlling Party

During the year the company was under the control of The Jon Fleming Group Limited, a company incorporated in Scotland.