Relate AccountsProduction v2.7.2 v2.7.2 2021-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts Sale of hair growth products for men. 30 September 2023 11557956 2022-12-31 11557956 2021-09-30 11557956 2020-09-30 11557956 2021-10-01 2022-12-31 11557956 2020-10-01 2021-09-30 11557956 uk-bus:PrivateLimitedCompanyLtd 2021-10-01 2022-12-31 11557956 uk-curr:PoundSterling 2021-10-01 2022-12-31 11557956 uk-bus:AbridgedAccounts 2021-10-01 2022-12-31 11557956 uk-core:ShareCapital 2022-12-31 11557956 uk-core:ShareCapital 2021-09-30 11557956 uk-core:SharePremium 2022-12-31 11557956 uk-core:SharePremium 2021-09-30 11557956 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 11557956 uk-core:RetainedEarningsAccumulatedLosses 2021-09-30 11557956 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 11557956 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-09-30 11557956 uk-bus:FRS102 2021-10-01 2022-12-31 11557956 uk-core:FurnitureFittingsToolsEquipment 2021-10-01 2022-12-31 11557956 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-10-01 2022-12-31 11557956 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 11557956 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-09-30 11557956 2021-10-01 2022-12-31 11557956 uk-bus:Director1 2021-10-01 2022-12-31 11557956 uk-bus:Director2 2021-10-01 2022-12-31 11557956 uk-bus:AuditExempt-NoAccountantsReport 2021-10-01 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
Careforsons Limited
 
Abridged Unaudited Financial Statements
 
for the financial period ended 31 December 2022



Careforsons Limited
Company Registration Number: 11557956
ABRIDGED BALANCE SHEET
as at 31 December 2022

Dec 22 Sep 21
Notes £ £
 
Fixed Assets
Intangible assets 6 204,312 59,048
Tangible assets 7 5,497 3,287
───────── ─────────
209,809 62,335
───────── ─────────
 
Current Assets
Stocks 353,275 443,697
Debtors 220,087 231,161
Cash and cash equivalents 6,659 798,573
───────── ─────────
580,021 1,473,431
───────── ─────────
Creditors: amounts falling due within one year (998,066) (937,787)
───────── ─────────
Net Current (Liabilities)/Assets (418,045) 535,644
───────── ─────────
Total Assets less Current Liabilities (208,236) 597,979
 
Creditors:
amounts falling due after more than one year (2,120,571) (1,761,859)
───────── ─────────
Net Liabilities (2,328,807) (1,163,880)
═════════ ═════════
 
Capital and Reserves
Called up share capital 155,580 155,580
Share premium account 8 551,020 551,020
Retained earnings (3,035,407) (1,870,480)
───────── ─────────
Equity attributable to owners of the company (2,328,807) (1,163,880)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
           
Approved by the Board and authorised for issue on 30 September 2023 and signed on its behalf by
           
________________________________          
Mr. William Kennedy          
Director          
           
________________________________
Dr. Adrian Gilbane
Director
           



Careforsons Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial period ended 31 December 2022

   
1. General Information
 
Careforsons Limited is a company limited by shares incorporated and registered in the England and Wales. The registered number of the company is 11557956. The registered office of the company is 4-5 Gough Square, London, EC4A 3DE 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 Directors' 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
The financial statements of the company for the financial period ended 31 December 2022 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
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. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Research and development
Development expenditure is written off in the same financial period unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 15 month period ended 31 December 2022.
   
4. Going concern
 
The company is continuing to see consecutive monthly sales growth and sales for 2023 will be up circa 90% on 2022. The company is now profitable with ongoing positive cash flows and it is anticipated that the deficit will be eliminated in 2024.

The company has access to an available credit line of £1.5m, therefore the directors are confident that the company has sufficent resources to continue in operational existence and that it is appropriate for the 2022 financial statements to be prepared on a going concern basis.

If the company were unable to continue in operational existence for the forseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, to provide for further liabilities that might arise and reclassify fixed assets and long term liabilities as current assets and liabilities.
       
5. Employees
 
The average monthly number of employees, including directors, during the financial period was 9, (Sep 21 - 7).
 
  Dec 22 Sep 21
  Number Number
 
Management 2 2
Administration and marketing 7 5
  ───────── ─────────
  9 7
  ═════════ ═════════
     
6. Intangible assets
  Development
  Costs
  £
Cost
At 1 October 2021 97,210
Additions 165,351
  ─────────
At 31 December 2022 262,561
  ─────────
Amortisation
At 1 October 2021 38,162
Charge for financial period 20,087
  ─────────
At 31 December 2022 58,249
  ─────────
Net book value
At 31 December 2022 204,312
  ═════════
At 30 September 2021 59,048
  ═════════
 
The development costs are being written off on a straight line basis over five years.

The IP has been professionally valued at £850,000.
       
7. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 October 2021 4,383 4,383
Additions 3,772 3,772
  ───────── ─────────
At 31 December 2022 8,155 8,155
  ───────── ─────────
Depreciation
At 1 October 2021 1,096 1,096
Charge for the financial period 1,562 1,562
  ───────── ─────────
At 31 December 2022 2,658 2,658
  ───────── ─────────
Net book value
At 31 December 2022 5,497 5,497
  ═════════ ═════════
At 30 September 2021 3,287 3,287
  ═════════ ═════════
   
8. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2020.
 
       
9. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 December 2022.
   
10. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial period-end.