Company registration No. 02453210 (England & Wales) Charity No. 703127
Ellys Extra Care Limited
Trustees’ Report and Unaudited Financial Statements
For The Year Ended 31 March 2023
ELLYS EXTRA CARE LIMITED
CONTENTS
| Page | |
|---|---|
| Charity reference and administrative details | 1 |
| Trustees’ annual report | 2 |
| Independent Examiner’s report to the trustees | 5 |
| Statement of financial activities (incorporating the income and expenditure account) |
6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 |
ELLYS EXTRA CARE LIMITED
CHARITY REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2023
Registered charity name Ellys Extra Care Limited Charity registration number 703127 Company registration number 02453210 Registered office 10 St Johns Avenue Heysham Morecambe Lancashire LA3 1EU The trustees
The trustees who served the charity during the period were as follows:-
Miss S Peters Mrs M W Irvine Secretary Miss S Peters Independent Examiner MHA Moore and Smalley Chartered Accountants Priory Close St Mary’s Gate Lancaster Lancashire LA1 1XB
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ELLYS EXTRA CARE LIMITED
TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS REPORT AS REQUIRED BY COMPANY LAW)
FOR THE YEAR ENDED 31 MARCH 2023
The trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Structure, governance and management
Ellys Extra Care is a registered charity and a company limited by guarantee and is governed by its Memorandum and Articles of Association.
The directors of the charitable company are its trustees for the purposes of charity law. The trustees who served during the year were:
Miss S Peters Mrs M W Irvine
There are currently two trustees on the board, and a decision would be taken to appoint new trustees if either were to indicate it was their intention to step down. The existing trustees would act as mentors to the new trustees.
The trustees review the major risks the organisation faces as part of the annual business planning process. They have established systems to manage these risks. The trustees are satisfied that the arrangements for managing these risks, combined with the annual review of financial controls and the reserve policy, will ensure that sufficient resources are available to maintain services for the foreseeable future, in the event of adverse conditions.
Objectives and activities
Ellys Extra Care Limited exists, as per its governing document, to promote the quality of life, maintenance of standards and diversity of provision for people with a learning disability.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In setting objects, the trustees give consideration to the guidance issued by the Charities Commission regarding the provision of public benefit.
The principle activity of Ellys Extra Care Limited in the year under review was concerned with providing housing for adults with a learning disability.
Achievements and performance
People and Employment
The trustees continue to manage the day to day responsibilities of running the organisation.
Ellys Extra Care current employee status remains at zero.
Trustees training, enabling them to maintain professional compliance has been accessed via Business Link, Institute of Directors, CIPD and Association for Real Change.
Ordinary Housing
93 West End Road has remained fully occupied throughout the 2022/2023 financial year. Cracking of ceilings I the hallway and one of the downstairs bedrooms was identified which resulted in the ceilings being removed and replaced.
Clarendon Road –The property accommodated four tenants throughout the financial year. No major building works took place.
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ELLYS EXTRA CARE LIMITED
TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS REPORT AS REQUIRED BY COMPANY LAW)
FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance (continued)
Haven Lodge – The property had two tenants at the start of the financial year. The two tenants had become incompatible with one indicating they would move homes. The property would not have been sustainable with the one tenant. Plans were drawn up to convert part of the ground floor into a self contained single flat for one of the existing tenants. It was costly and delays were incurred due to builders and materials availability. However the cost of the conversation has benefited the Charity by enabling two further tenants to move into the main house during November 2022. Four tenants occupy the house at 31[st] March 2023.
Halden Road – The property accommodated three tenants. The only major building work undertaken this year is the replacement of the gas boiler.
Tylecote – Ellys Extra Care has continued to lease this property on a peppercorn rent. Three tenants have remained in the property with one vacancy. No major building works have taken place within the financial year.
As of 31[st] March 2023 there were seventeen tenants in the five properties with one vacancy.
Fund Raising
There have been no fundraising activities this financial year.
Financial review
The sole source of income is rent from the tenanted properties. With the current period being a transitional one the charity has made a deficit of £14,329 (2022: £9,243 deficit). Closing reserves are £355,498 (2022: £369,827).
The trustees monitor the levels of funds coming in via rent from the tenanted properties and agree a programme of works per house each year. Funds are set aside for day to day repairs in addition to the works programme.
Reserves policy
It is a stated objective of the trustees of the charity to try to achieve unrestricted resources equivalent to the cost of three months operations. The current level of reserves of £355,348 is well in excess of this however the majority of this constitutes the fixed assets of the charity of £344,989. Free reserves after the deduction of fixed assets total £20,509, a reduction on 2022 (£25,306).
As such the trustees are conscious that the Charity’s free reserves need to be strengthened in order to ensure that the charity is able to continue its operations without impacting on its fixed asset holdings which are essential to the charity’s objectives.
Plans for the future
Plans for 2022/23 are as follows:
To provide good quality housing accommodation by ensuring that the properties are well maintained.
To review the five properties to ensure there is a full maintenance plan in place.
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ELLYS EXTRA CARE LIMITED
TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS REPORT AS REQUIRED BY COMPANY LAW) FOR THE YEAR ENDED 31 MARCH 2023
Statement of Trustee’s responsibilities
The trustees (who are also the directors of Ellys Extra Care Limited for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board of trustees
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..............................
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.............................. Miss S Peters
Trustee 23/10/2023 Dated: …………….
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ELLYS EXTRA CARE LIMITED
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ELLYS EXTRA CARE LIMITED
FOR THE YEAR ENDED 31 MARCH 2023
I report on the accounts of the company for the year ended 31 March 2023 which are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Richard Hall FCCA
MHA Moore and Smalley Chartered Accountants Priory Close St Mary’s Gate Lancaster LA1 1XB
24/10/2023 ………………
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ELLYS EXTRA CARE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Total | Total funds 2022 £ 1 98,651 |
||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | funds | |||||
| funds | funds | 2023 | |||||
| £ | £ | £ | |||||
| Income from: | |||||||
| Investments | 3 | 43 | - |
43 |
|||
| Charitable activities | 4 | 107,774 | - |
107,774 |
|||
| Total | 107,817 | - |
107,817 |
98,652 |
|||
| Expenditure on: | 107,895 |
||||||
| Charitable activities | 5 | 122,146 | - |
122,146 |
|||
| Total | 122,146 | - |
122,146 |
107,895 |
|||
| (9,243) - |
|||||||
| Net income/(expenditure) | (14,329) | - | (14,329) |
||||
| Transfers between funds | - | - |
- |
||||
| Net movement in funds | (14,329) | - | (14,329) |
(9,243) 379,070 |
|||
| Reconciliation of funds: | |||||||
| Total funds brought forward | 369,827 | - |
369,827 |
||||
| Total funds carried forward | 12 | 355,498 | - |
355,498 |
369,827 |
||
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
The notes on pages 8 to 14 form part of these financial statements.
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ELLYS EXTRA CARE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
| Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors:amounts falling due within one year 11 Net current assets Total assets less current liabilities Net assets Funds: Unrestricted funds 12 Restricted income funds 12 Total funds |
£ £ £ £ 334,989 344,521 19,092 20,842 4,295 7,270 23,387 28,112 (2,878) (2,806) 20,509 25,306 355,498 369,827 355,498 369,827 355,498 369,827 - - 355,498 369,827 2023 2022 |
|---|---|
| 23,387 (2,878) |
|
The financial statements have been prepared in accordance with the provisions for small companies.
For the year ended 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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and the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts were approved by the trustees and authorised for issue on …………….... 23/10/2023 and are signed on their behalf by:
……………………………………
Miss S Peters Trustee
Company Registration Number: 02453210
The notes on pages 8 to 14 form part of these financial statements.
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Legal form
The charity constitutes a limited company, limited by guarantee as defined by the Companies Act 2006, incorporated in England and Wales. The address of the charity, the nature of its operations and its principal activities are all detailed in the Trustees’ report and charity administrative details pages in these financial statements.
Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
The charity constitutes a public benefit entity as defined by FRS102.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Preparation of the accounts on a going concern basis
At the balance sheet date, the Charity has cash funds of £4,295 and net current assets of £20,509, relying on the support of a Trustee through a debtor balance. With this support, the trustees consider the company to have a sufficient level of working capital to see it through the upcoming months and therefore it remains wholly solvent.
The trustees do not consider there to be a material uncertainty at this time, and there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Income
Housing benefit is credited to the statement of financial activities in the period in which income is earned. If any benefit is received in advance of the period to which it relates, it will be reflected in deferred income within the balance sheet. No income is shown net of expenditure.
Investment income represents bank interest receivable and is recognised on receipt.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies (continued)
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Support costs are those which assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly to support the objectives of the charity. Where costs cannot be directly attributed to a particular heading, they have been allocated on a basis consistent with the use of the resources.
Tangible fixed assets
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property - 2% straight line Office Equipment - 25% straight line
Freehold land is not depreciated.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash and cash equivalents
Cash is a basic financial asset and includes cash in hand and deposits held at call with banks.
Leasing and hire purchase commitments
Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.
Accumulated funds
Unrestricted funds - these are available for us at the discretion of the trustees in furtherance of the general activities of the charity.
Restricted funds - these are subjected to restrictions on their expenditure imposed by the donor. The purposes and uses of any restricted funds are set out in the notes to the accounts where applicable.
Financial instruments
The Charity 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 Charity’s balance sheet when the Charity becomes party to contractual provisions of the instrument.
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies (continued)
Taxation
The charity is recognised by the Inland Revenue as a UK Charity and is entitled to exemptions from corporation tax.
2 Judgements and key sources of estimation uncertainty
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from investments
| Unrestricted | Restricted | Total | Total 2022 £ 1 |
|||
|---|---|---|---|---|---|---|
| funds | funds | 2023 | ||||
| £ | £ | £ | ||||
| Interest receivable | 43 | - |
43 |
|||
| 43 | - |
43 |
1 |
|||
4 Income from charitable activities
| Unrestricted | Restricted | Total | Total 2022 £ 88,226 10,425 |
|||
|---|---|---|---|---|---|---|
| funds | funds | 2023 | ||||
| £ | £ | £ | ||||
| Housing benefit | 99,090 | - |
99,090 |
|||
| Tenant contributions | 8,684 | - |
8,684 |
|||
| 107,774 | - |
107,774 |
98,651 |
|||
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
5 Expenditure on charitable activities
| 5 Expenditure on charitable activities |
|
|---|---|
| Rent, service, rates and water Light and heat Repairs and maintenance Insurance Telephone and postage Miscellaneous purchases Depreciation Support and governance costs (note 6) |
Provision of care Total Total services 2023 2022 £ £ £ 64,131 64,131 54,777 11,235 11,235 10,750 28,698 28,698 24,674 2,883 2,883 2,625 2,184 2,184 1,818 477 477 477 9,532 9,532 9,966 3,006 3,006 2,808 |
| 122,146 122,146 107,895 |
Of the above expenditure £nil (2022: £nil) was made against restricted funds.
6 Support costs
| 6 Support costs |
|
|---|---|
| Sundry expenses Independent examination fees |
Total Total 2023 2022 £ £ 174 48 2,832 2,760 |
| 3,006 2,808 |
|
7 Trustee remuneration (including key management personnel)
None of the trustees (or any persons connected with them) received any direct remuneration or reimbursed expenditure during the year. No trustee made any donation to the charity in the year.
A sole-trader business of S Peters, Trustee, received income from the charity during the year as fully detailed in the related party note to these financial statements on page 15.
The trustees are considered to be the key management personnel of the company. As such, no amounts were paid to key management personnel in the current or prior year.
The charity had no employees during the current or prior period.
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 Net income/(expenditure)
| Net income/(expenditure) is after charging/(crediting): Depreciation Independent examiner's remuneration; - independent examination fee Fixed assets |
2023 2022 £ £ 9,532 9,966 2,832 2,760 |
||
|---|---|---|---|
| Cost At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year Eliminated on disposals At 31 March 2023 Net book value At 31 March 2023 At 1 April 2022 |
Land and buildings £ 436,845 - - |
Equipment & Fittings Totals £ £ 2,878 439,723 - - - - |
|
| 436,845 | 2,878 439,723 |
||
| 92,603 9,356 - |
2,599 95,202 176 9,532 - - |
||
| 101,959 | 2,775 104,734 |
||
| 334,886 | 103 334,989 |
||
| 344,242 | 279 344,521 |
||
| Debtors | |||
| Other debtors Prepayments and accrued income |
2023 2022 £ £ 18,956 20,727 136 115 |
||
| 19,092 20,842 |
- 9 Fixed assets
10 Debtors
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
11 Creditors: falling due within one year
| Accruals |
Accruals |
2023 2022 £ £ 2,878 2,806 |
|---|---|---|
| 2,878 2,806 |
||
| Analysis of funds: Current year | ||
| Unrestricted funds General fund Restricted fund Total funds |
At 1 At 31 April March 2022 Income Expenditure Transfers 2023 £ £ £ £ £ 369,827 107,817 (122,146) - 355,498 - - - - - |
|
| 369,827 107,817 (122,146) - 355,498 |
12 Analysis of funds: Current year
13 Analysis of funds: Prior year
| Unrestricted funds General fund Restricted fund Total funds |
At 1 At 31 April March 2021 Income Expenditure Transfers 2022 £ £ £ £ £ 379,070 98,652 (107,895) - 369,827 - - - - - |
|---|---|
| 379,070 98,652 (107,895) - 369,827 |
|
14 Commitments under operating leases
The charity incurs annual operate lease charges of £8,000 for the rental of a property from a related party entity, Haven Lodge. At 31 March 2023 the Charity was committed to a further £8,000 (2022: £6,000) of rental charges under the most recent agreement.
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ELLYS EXTRA CARE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
15 Related party transactions and control
The charity was under the control of the Board of Trustees during the current and prior period.
S Peters is a Trustee and also operates as a sole trader, trading as “Haven Lodge”. During the year, Haven Lodge charged Ellys Extra Care Limited rent totalling £8,000 (2022: £8,000). Housing benefit income of £99,193 (2022: £81,174) was received by Haven Lodge on behalf of Ellys Extra Care Limited. A further £8,684 (2022: £10,425) was received by Haven Lodge from tenants towards bills on behalf of Ellys Extra Care Limited. Management fees were charge to and expenses incurred on behalf of Ellys Extra Care Limited totalling £49,597 (2022: £50,963) and costs were incurred by Ellys on behalf of Haven Lodge of £3,784 (2022: £3,315).
As a result of the above transactions, and following other cash repayments, £18,956 (2022: £17,344) is included in other debtors at the year end.
There are no further disclosable related party transactions in the year.
16 Company limited by guarantee
The company is limited by guarantee. In the event of the company being wound up or dissolved, each of the members undertakes to contribute such amounts as may be required, not exceeding £1, for payment of debts or liabilities.
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