Company registration number 06974144 (England and Wales)
EDEN CARE AT HOME LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
EDEN CARE AT HOME LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EDEN CARE AT HOME LTD
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
131,119
140,687
Current assets
Debtors
4
251,178
126,037
Cash at bank and in hand
624,706
783,733
875,884
909,770
Creditors: amounts falling due within one year
5
(206,959)
(253,433)
Net current assets
668,925
656,337
Total assets less current liabilities
800,044
797,024
Creditors: amounts falling due after more than one year
6
(73,382)
(63,501)
Provisions for liabilities
5,291
(9,245)
Net assets
731,953
724,278
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
731,853
724,178
Total equity
731,953
724,278
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
EDEN CARE AT HOME LTD
BALANCE SHEET (CONTINUED)
- 2 -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 April 2024 and are signed on its behalf by:
Dr J M Morrisroe
Director
Company Registration No. 06974144
EDEN CARE AT HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Eden Care At Home Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 4 Tabernacle Street, London, EC2A 4LU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
EDEN CARE AT HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
64
74
EDEN CARE AT HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
288,224
Additions
70,721
Disposals
(74,400)
At 31 July 2023
284,545
Depreciation and impairment
At 1 August 2022
147,537
Depreciation charged in the year
41,622
Eliminated in respect of disposals
(35,733)
At 31 July 2023
153,426
Carrying amount
At 31 July 2023
131,119
At 31 July 2022
140,687
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
199,609
100,888
Other debtors
51,569
25,149
251,178
126,037
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
20,233
3,007
Taxation and social security
67,760
85,217
Other creditors
118,966
165,209
206,959
253,433
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
73,382
63,501
EDEN CARE AT HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
7
Directors' transactions
During the year the company made various loans to the director of the company amounting to £6,050.93. The loan is interest free, the maximum amount outstanding in the year was £6,050.93.The outstanding balance was repaid within 9 Months of the year end by dividend.
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Directors loan account
-
-
6,051
6,051
-
6,051
6,051