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REGISTERED NUMBER: 07466340 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Freedom Care and Support Ltd

Freedom Care and Support Ltd (Registered number: 07466340)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Freedom Care and Support Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTORS: M Harris
Mrs V Harris





REGISTERED OFFICE: Offices 119-120, Empire Business Park
Liverpool Road
Burnley
Lancashire
BB12 6HH





REGISTERED NUMBER: 07466340 (England and Wales)





ACCOUNTANTS: Topping & Company
Chartered Accountants
209 Liverpool Road
Birkdale
Southport
Merseyside
PR8 4PH

Freedom Care and Support Ltd (Registered number: 07466340)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,353 147,873

CURRENT ASSETS
Debtors 5 103,077 68,318
Cash at bank and in hand 339,491 313,417
442,568 381,735
CREDITORS
Amounts falling due within one year 6 226,510 244,461
NET CURRENT ASSETS 216,058 137,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,411

285,147

CREDITORS
Amounts falling due after more than one year 7 (59,805 ) (67,224 )

PROVISIONS FOR LIABILITIES (407 ) (350 )
NET ASSETS 300,199 217,573

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 300,189 217,563
SHAREHOLDERS' FUNDS 300,199 217,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Freedom Care and Support Ltd (Registered number: 07466340)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2022 and were signed on its behalf by:





M Harris - Director


Freedom Care and Support Ltd (Registered number: 07466340)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Freedom Care and Support Ltd is a private limited company, incorporated and registered in England and Wales (registered number 07466340). The address of the registered office is Office 119 - 120, Business First, Empire Business Park, Liverpool Road, Burnley, Lancashire, England, BB12 6HH. The principal activity of the company is that of the provision of health and social care to people with a disability.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates and including value added tax.

The company provides health and social care to people with a disability. The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
All tangible assets are initially recorded at cost. Cost includes all expenditure directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner included by management.

Depreciation is provided at the following annual rates in order to write off the cost of each asset less its residual amount over its estimated useful life.

Land and buildings - 2% on cost
Plant & machinery etc - 33 1/3 % on cost and 25% on cost

At each reporting date the carrying value of the company's tangible fixed assets are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or related group of assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Freedom Care and Support Ltd (Registered number: 07466340)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other account receivables and payables and loans from related parties. Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, and impairment loss is recognised in profit or loss.

Short term debtors are measured at transaction price, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities are measured at fair value net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other operating income
Rents receivable from the letting of the company's land and buildings are accounted for on a receivable basis.

Coronavirus (covid-19) grants
Coronavirus (Covid-19) grants are recognised as income in the company's profit or loss. Such grants are in respect of claims made to Her Majesty Revenue and Customs for employees furloughed in accordance with the Coronavirus Job Retention Scheme which are recognised on a receivable basis, business rate relief grant and other grants the company is entitled to received from local council which are recognised on a received basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2021 - 61 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 168,615 22,642 191,257
Additions - 2,665 2,665
At 31 March 2022 168,615 25,307 193,922
DEPRECIATION
At 1 April 2021 23,034 20,350 43,384
Charge for year 3,372 2,813 6,185
At 31 March 2022 26,406 23,163 49,569
NET BOOK VALUE
At 31 March 2022 142,209 2,144 144,353
At 31 March 2021 145,581 2,292 147,873

Freedom Care and Support Ltd (Registered number: 07466340)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 76,028 61,010
Other debtors 27,049 7,308
103,077 68,318

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 8,645 8,490
Taxation and social security 60,128 54,085
Other creditors 157,737 181,886
226,510 244,461

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans 59,805 67,224

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 25,201 33,240

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 68,450 75,714

The company's bank loan is secured by a legal charge in favour of Barclays Bank PLC over its freehold land and buildings.

9. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of financial statements, in conformity with generally accepted accounting principles, requires the use of estimates and judgements that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on the directors' best knowledge of current events and actions, action results ultimately may differ from these estimates.

In preparing these financial statements the directors reviewed the company's contracts with its customers to ensure that revenues receivable from the provision of social work activities for the elderly and disabled in the year ended 31 March 2022 are satisfactory recorded within the income statement and balance sheet.

The directors do not consider there to be any additional estimates and judgements in connection with the preparation of the company's year ended 31 March 2022 financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities at the balance sheet date of 31 March 2022.

Freedom Care and Support Ltd (Registered number: 07466340)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

10. CORONAVIRUS (COVID-19)

As with most businesses the company has been impacted by the Coronavirus (Covid-19). This has had an impact on the company's operations, customers, suppliers and staff. Some of the company's staff were furloughed in the year ended 31 March 2021. None of the company's staff were furloughed in the year ended 31 March 2022. The company has utilised the grants and benefits available from the local council, and is taking all the steps it can to protect the future of its business. Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis. Working capital of the company remains strong and retained earnings remain healthy.