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COMPANY REGISTRATION NUMBER: 07047295
Caerus Care Limited
Filleted Unaudited Financial Statements
31 October 2023
Caerus Care Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
313,536
235,762
Current assets
Debtors
6
14,775
153,039
Cash at bank and in hand
437,184
221,178
---------
---------
451,959
374,217
Creditors: amounts falling due within one year
7
184,437
225,962
---------
---------
Net current assets
267,522
148,255
---------
---------
Total assets less current liabilities
581,058
384,017
---------
---------
Net assets
581,058
384,017
---------
---------
Capital and reserves
Called up share capital
6
6
Profit and loss account
581,052
384,011
---------
---------
Shareholders funds
581,058
384,017
---------
---------
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 October 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 .
Caerus Care Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 22 November 2023 , and are signed on behalf of the board by:
Mr G Dobson
Director
Company registration number: 07047295
Caerus Care Limited
Notes to the Financial Statements
Year ended 31 October 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 47 Gorefield Road, Leverington, Wisbech, Cambs, PE13 5AS.
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
The turnover shown in the profit and loss account represents amounts invoiced and accrued during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold land
-
1% straight line
Fixtures and fittings
-
10% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 and loans to related parties.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 48 (2022: 47 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2022
213,359
21,069
47,188
281,616
Additions
62,810
10,611
18,875
92,296
Disposals
( 8,490)
( 8,490)
---------
--------
--------
---------
At 31 October 2023
276,169
31,680
57,573
365,422
---------
--------
--------
---------
Depreciation
At 1 November 2022
178
9,877
35,799
45,854
Charge for the year
2,761
2,180
6,895
11,836
Disposals
( 5,804)
( 5,804)
---------
--------
--------
---------
At 31 October 2023
2,939
12,057
36,890
51,886
---------
--------
--------
---------
Carrying amount
At 31 October 2023
273,230
19,623
20,683
313,536
---------
--------
--------
---------
At 31 October 2022
213,181
11,192
11,389
235,762
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
72,755
Other debtors
14,775
80,284
--------
---------
14,775
153,039
--------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
184,437
225,962
---------
---------
8. Other financial commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £NIL (2022:£10,500).
9. Related party transactions
During the previous year the company purchased a property of which one of the directors owns 25%. At 31 October 2022, the director owed £70,416 in this regard which was repaid in the current year. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.