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COMPANY REGISTRATION NUMBER: 04431139
CARE 2 SHARE LIMITED
Filleted Unaudited Financial Statements
31 March 2023
CARE 2 SHARE LIMITED
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
3,000
4,500
Tangible assets
6
481,747
563,511
---------
---------
484,747
568,011
Current assets
Debtors
7
653,818
574,512
Cash at bank and in hand
17,143
10,892
---------
---------
670,961
585,404
Creditors: amounts falling due within one year
8
319,830
346,735
---------
---------
Net current assets
351,131
238,669
---------
---------
Total assets less current liabilities
835,878
806,680
Provisions
Taxation including deferred tax
25,951
19,802
---------
---------
Net assets
809,927
786,878
---------
---------
CARE 2 SHARE LIMITED
Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
809,827
786,778
---------
---------
Shareholders funds
809,927
786,878
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 November 2023 , and are signed on behalf of the board by:
Ms M J Chaudhary
Director
Company registration number: 04431139
CARE 2 SHARE LIMITED
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 The Ridgeway, North Harrow, Middlesex, HA2 7QN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life of 20 years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Building Improvement
-
10% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 46 (2022: 44 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
30,000
--------
Amortisation
At 1 April 2022
25,500
Charge for the year
1,500
--------
At 31 March 2023
27,000
--------
Carrying amount
At 31 March 2023
3,000
--------
At 31 March 2022
4,500
--------
6. Tangible assets
Fixtures and fittings
Building Improvement
Total
£
£
£
Cost
At 1 April 2022
312,626
805,925
1,118,551
Additions
34,576
34,576
---------
---------
------------
At 31 March 2023
347,202
805,925
1,153,127
---------
---------
------------
Depreciation
At 1 April 2022
204,214
350,826
555,040
Charge for the year
35,747
80,593
116,340
---------
---------
------------
At 31 March 2023
239,961
431,419
671,380
---------
---------
------------
Carrying amount
At 31 March 2023
107,241
374,506
481,747
---------
---------
------------
At 31 March 2022
108,412
455,099
563,511
---------
---------
------------
7. Debtors
2023
2022
£
£
Trade debtors
307,245
170,622
Other debtors
346,573
403,890
---------
---------
653,818
574,512
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
120,603
183,688
Social security and other taxes
30,424
17,691
Other creditors
168,803
145,356
---------
---------
319,830
346,735
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Ms M J Chaudhary
399,371
( 405,542)
( 6,171)
---------
----
---------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Ms M J Chaudhary
520,000
( 120,629)
399,371
----
---------
---------
---------
10. Related party transactions
The company paid a dividend of £ 870,000 to Ms M N Chaudhary, the director. Bank loans to Ms M N Chaudhary for the properties used by the business are secured by fixed and floating charges over the company's assets.