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REGISTERED NUMBER: 04391659 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

REDSPOT CARE LIMITED

REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


REDSPOT CARE LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: Mr E Kureya
Mrs M Kureya





REGISTERED OFFICE: 65 Chadwell Heath Lane
Romford
Romford
Essex
RM6 4NP





REGISTERED NUMBER: 04391659 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)

ABRIDGED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,685 44,326
Tangible assets 5 55,887 75,226
91,572 119,552

CURRENT ASSETS
Debtors 1,465,223 1,953,324
Cash at bank and in hand 13,381 309
1,478,604 1,953,633
CREDITORS
Amounts falling due within one year 1,717,019 1,758,950
NET CURRENT (LIABILITIES)/ASSETS (238,415 ) 194,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

(146,843

)

314,235

CREDITORS
Amounts falling due after more than one year 60,467 31,667
NET (LIABILITIES)/ASSETS (207,310 ) 282,568

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (207,313 ) 282,565
SHAREHOLDERS' FUNDS (207,310 ) 282,568

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.

REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mr E Kureya - Director


REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Redspot Care Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Government grants
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:
(a) the entity will comply with the conditions attaching to them; and
(b) the grants will be received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

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

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 86,410
AMORTISATION
At 1 April 2022 42,084
Amortisation for year 8,641
At 31 March 2023 50,725
NET BOOK VALUE

At 31 March 2023 35,685
At 31 March 2022 44,326

REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 102,415
Additions 285
At 31 March 2023 102,700
DEPRECIATION
At 1 April 2022 27,189
Charge for year 19,624
At 31 March 2023 46,813
NET BOOK VALUE
At 31 March 2023 55,887
At 31 March 2022 75,226

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Factoring loan 631,364 899,462

Included in other creditors are factored debts which are secured against trade debtors.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr E Kureya
Balance outstanding at start of year 533,862 436,759
Amounts advanced 513,183 830,333
Amounts repaid (533,862 ) (733,230 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 513,183 533,862

REDSPOT CARE LIMITED (REGISTERED NUMBER: 04391659)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £407,906 (2022: £202,405) to Redspot Healthcare Services Limited and was owed £80,414 (2022: £260,414) by Redspot Services LLC, companies in which Mr E Kureya and Mrs M Kureya are directors.

At the balance sheet date, the company owed £51,100 (2022: £51,100) to Redspot Homecare (Contracts) Ltd, a company in which Mr E Kureya is a director.