2022-04-012023-03-312023-03-31false05707751LIFETIMECARE UK 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LIFETIMECARE UK LTD

Registered Number
05707751
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

LIFETIMECARE UK LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

C.S. Haworth
R.J. Wootton

Registered Address

Mewsbrook House
59 East Street
Littlehampton
BN17 6AU

Registered Number

05707751 (England and Wales)
LIFETIMECARE UK LTD
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets516,7437,974
16,7437,974
Current assets
Debtors71,204,0501,682,914
Cash at bank and on hand551,778507,719
1,755,8282,190,633
Creditors amounts falling due within one year8(331,438)(847,082)
Net current assets (liabilities)1,424,3901,343,551
Total assets less current liabilities1,441,1331,351,525
Creditors amounts falling due after one year9(96,190)(206,561)
Provisions for liabilities10(3,181)(1,515)
Net assets1,341,7621,143,449
Capital and reserves
Called up share capital1,0001,000
Profit and loss account1,340,7621,142,449
Shareholders' funds1,341,7621,143,449
The financial statements were approved and authorised for issue by the Board of Directors on 5 October 2023, and are signed on its behalf by:
R.J. Wootton
Director
Registered Company No. 05707751
LIFETIMECARE UK LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The address of its registered office is: Mewsbrook House 59 East Street Littlehampton BN17 6AU United Kingdom These financial statements were authorised for issue by the Board on 5th October 2023.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Straight line (years)
Vehicles5
Revenue recognition policy
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; It is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Taxation policy
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the difference.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
A defined contribution plan is a pension plan under which fixed contributions are paid into pension fund and the company has no legal or constructive obligation to pay further contribution even if the fund does not hold sufficient assets to pay all employees service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
4.Employee information

20232022
Average number of employees during the year6072
5.Property, plant and equipment

Vehicles

Total

££
Cost or valuation
At 01 April 2222,79422,794
Additions15,99515,995
At 31 March 2338,78938,789
Depreciation and impairment
At 01 April 2214,82014,820
Charge for year7,2267,226
At 31 March 2322,04622,046
Net book value
At 31 March 2316,74316,743
At 31 March 227,9747,974
6.Description of nature of transactions and balances with related parties
The directors are partners in the partnership that owns the property occupied by the company. The partnership charge the company rent of £240,000 (2022 - £240,000) for the use of that property.
7.Debtors

2023

2022

££
Trade debtors / trade receivables205,879193,758
Other debtors998,1711,489,156
Total1,204,0501,682,914
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables46,51246,512
Bank borrowings and overdrafts110,371105,104
Taxation and social security78,88296,053
Other creditors85,465589,817
Accrued liabilities and deferred income10,2089,596
Total331,438847,082
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts96,190206,561
Total96,190206,561
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,1811,515
Total3,1811,515