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REGISTERED NUMBER: 05649608 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CARE YOUR WAY HOMECARE LTD

CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARE YOUR WAY HOMECARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs S Sabater Romero
Mr M Sabater Romero
Mr J Sabater Romero
Miss Y Sabater Romero



SECRETARY: Mr M Sabater Romero



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 05649608 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds
31 Fore Street
Totnes
Devon
TQ9 5HH

CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,182 146,243

CURRENT ASSETS
Debtors 5 192,152 196,731
Cash at bank 405,986 295,518
598,138 492,249
CREDITORS
Amounts falling due within one year 6 439,247 396,094
NET CURRENT ASSETS 158,891 96,155
TOTAL ASSETS LESS CURRENT LIABILITIES 290,073 242,398

CREDITORS
Amounts falling due after more than one
year

7

(6,369

)

(3,790

)

PROVISIONS FOR LIABILITIES (20,762 ) (25,105 )
NET ASSETS 262,942 213,503

CAPITAL AND RESERVES
Called up share capital 21 21
Retained earnings 262,921 213,482
SHAREHOLDERS' FUNDS 262,942 213,503

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.

CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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 10 July 2023 and were signed on its behalf by:





Mrs S Sabater Romero - Director


CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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


1. STATUTORY INFORMATION

Care Your Way Homecare Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Fixtures, Fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 163 (2022 - 83 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Fittings
Short and Motor Computer
leasehold equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 127,121 65,005 54,651 6,727 253,504
Additions - 896 9,995 1,420 12,311
At 31 March 2023 127,121 65,901 64,646 8,147 265,815
DEPRECIATION
At 1 April 2022 38,136 31,957 34,523 2,645 107,261
Charge for year 12,712 5,092 7,531 2,037 27,372
At 31 March 2023 50,848 37,049 42,054 4,682 134,633
NET BOOK VALUE
At 31 March 2023 76,273 28,852 22,592 3,465 131,182
At 31 March 2022 88,985 33,048 20,128 4,082 146,243

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 54,651
Additions 9,995
At 31 March 2023 64,646
DEPRECIATION
At 1 April 2022 34,523
Charge for year 7,531
At 31 March 2023 42,054
NET BOOK VALUE
At 31 March 2023 22,592
At 31 March 2022 20,128

CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 90,239 110,560
Amounts owed by associates 87,769 66,626
Other debtors 7,415 17,080
Prepayments 6,729 2,465
192,152 196,731

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,083 3,629
Trade creditors 10,785 10,599
Tax 46,879 28,776
Social security and other taxes 45,765 60,317
Other creditors 87,594 77,084
Directors' current accounts 237,375 208,367
Accrued expenses 5,766 7,322
439,247 396,094

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 6,369 3,790

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 11,452 7,419

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr M Sabater Romero and Mrs S Sabater Romero
Balance outstanding at start of year (194,667 ) (130,280 )
Amounts advanced 113,548 110,967
Amounts repaid (100,392 ) (175,354 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (181,511 ) (194,667 )

CARE YOUR WAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Miss Y Sabater Romero
Balance outstanding at start of year (13,700 ) 1,006
Amounts advanced 23,640 23,470
Amounts repaid (40,507 ) (38,176 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (30,567 ) (13,700 )

Mr J Sabater Romero
Balance outstanding at start of year - -
Amounts advanced 11,200 -
Amounts repaid (36,497 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25,297 ) -

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £130,000 (2022 - £172,160) were paid to the directors .

During the period the company lent to CareYourWay Franchising Ltd, a company which shares the same Directors, an amount of £20,243 (2021: £66,626). The amount owing to the company relating to this loan at the period end, is £86,869 (2021: £66,626). The loan is unsecured, interest free and repayable on demand.

During the period the company lent to Care Your Way Group Ltd, a company which shares the same Directors, an amount of £510. The amount owing to the company relating to this loan at the period end, is £510. The loan is unsecured, interest free and repayable on demand.

During the period the company lent to HR Advise Ltd, a company which shares the same Directors, an amount of £390. The amount owing to the company relating to this loan at the period end, is £390. The loan is unsecured, interest free and repayable on demand.

During the year the company completed a share for share exchange transferring full share ownership
to Care Your Way Group Ltd, becoming a 100% subsidiary of the holding company.