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REGISTERED NUMBER: 04642721 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CHERISH HOME CARE LTD

CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 937,445 888,059

CURRENT ASSETS
Debtors 5 474,218 427,226
Cash at bank and in hand 676,166 677,004
1,150,384 1,104,230
CREDITORS
Amounts falling due within one year 6 505,996 556,259
NET CURRENT ASSETS 644,388 547,971
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,581,833

1,436,030

CREDITORS
Amounts falling due after more than
one year

7

(111,600

)

(161,200

)

PROVISIONS FOR LIABILITIES 9 (123,345 ) (107,683 )
NET ASSETS 1,346,888 1,167,147

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,346,788 1,167,047
SHAREHOLDERS' FUNDS 1,346,888 1,167,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Mrs A Sharma - Director


CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Cherish Home Care Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04642721

Registered office: 14 Chester Road
Sutton Coldfield
West Midlands
B73 5DA

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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the point in which the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Provisions for liabilities
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.

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 debtors and creditors, loans from banks and other third parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 156 (2022 - 142 ) .

CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 806,734 56,438 219,361 1,082,533
Additions - 21,397 98,609 120,006
Disposals (489 ) (699 ) (48,990 ) (50,178 )
At 31 March 2023 806,245 77,136 268,980 1,152,361
DEPRECIATION
At 1 April 2022 12,495 34,799 147,180 194,474
Charge for year 16,125 5,148 26,273 47,546
Eliminated on disposal - (568 ) (26,536 ) (27,104 )
At 31 March 2023 28,620 39,379 146,917 214,916
NET BOOK VALUE
At 31 March 2023 777,625 37,757 122,063 937,445
At 31 March 2022 794,239 21,639 72,181 888,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 365,414 336,953
Other debtors 108,804 90,273
474,218 427,226

At the year end the company was owed £58,684 (2022: £54,353) from the directors and other participators, included in other debtors. The maximum amount outstanding in the year was £58,684.

Interest was charged on this loan at HM Revenue and Customs official rate of interest.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,600 49,600
Trade creditors 15,832 56,349
Taxation and social security 146,098 218,620
Other creditors 294,466 231,690
505,996 556,259

CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts included in Bank loans and overdrafts relate to loans taken out under the Coronavirus Business Interruption Loan Scheme (CBILS). Under the terms of the loan the first 12 months of interest payments are interest free. Following the first 12 months regular monthly repayments will commence and interest will be charged at 3.99% over the bank of England Base Rate.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 111,600 161,200

Amounts included in Bank loans and overdrafts relate to loans taken out under the Coronavirus Business Interruption Loan Scheme (CBILS). Under the terms of the loan the first 12 months of interest payments are interest free. Following the first 12 months regular monthly repayments will commence and interest will be charged at 3.99% over the bank of England Base Rate.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 55,000 55,000
Between one and five years 220,000 275,000
275,000 330,000

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 23,345 7,683
Dilapidation provision 100,000 100,000
123,345 107,683

Deferred Other
tax provisions
£    £   
Balance at 1 April 2022 7,683 100,000
Charge to Statement of Income and Retained Earnings
during year

15,662

-
Balance at 31 March 2023 23,345 100,000

CHERISH HOME CARE LTD (REGISTERED NUMBER: 04642721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. PENSION COMMITMENTS

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. Contributions totalling £16,558 (2022: £13,550) were payable to the fund at the balance sheet date and are included in creditors.