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REGISTERED NUMBER: 10262413 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Your Way Senior Care Limited

Your Way Senior Care Limited (Registered number: 10262413)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Your Way Senior Care Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: B P Selby
Mrs J Selby





REGISTERED OFFICE: Old Penny Bank
39 Welsh Row
Nantwich
Cheshire
CW5 5EW





REGISTERED NUMBER: 10262413 (England and Wales)





ACCOUNTANTS: Banks Sheridan
Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF

Your Way Senior Care Limited (Registered number: 10262413)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 10,189 13,683
Tangible assets 5 27,701 24,899
Investments 6 32,329 32,329
70,219 70,911

CURRENT ASSETS
Stocks 7 - 5,701
Debtors: amounts falling due within one year 8 134,227 87,214
Debtors: amounts falling due after more than
one year

8

9,180

-
Cash at bank and in hand 134,123 177,075
277,530 269,990
CREDITORS
Amounts falling due within one year 9 (121,322 ) (107,324 )
NET CURRENT ASSETS 156,208 162,666
TOTAL ASSETS LESS CURRENT
LIABILITIES

226,427

233,577

CREDITORS
Amounts falling due after more than one
year

10

(19,271

)

(29,326

)

PROVISIONS FOR LIABILITIES 14 (5,438 ) (4,510 )
NET ASSETS 201,718 199,741

CAPITAL AND RESERVES
Called up share capital 15 90 100
Capital redemption reserve 10 -
Retained earnings 201,618 199,641
201,718 199,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Your Way Senior Care Limited (Registered number: 10262413)

Statement of Financial Position - continued
31 December 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2024 and were signed on its behalf by:





B P Selby - Director


Your Way Senior Care Limited (Registered number: 10262413)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Your Way Senior Care Limited ('The Company') is a primarily engaged in the provision of care services for the elderly.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Old Penny Bank, 39 Welsh Row, Nantwich, Cheshire, CW5 5EW. The registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of any discounts.

Franchise fees
Franchise fees capitalised in 2017 are being amortised in order to write off the assets over their 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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value).

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 end of the financial year.


Your Way Senior Care Limited (Registered number: 10262413)

Notes to the Financial Statements - continued
for the year ended 31 December 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 end of the financial year.

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.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 83 (2022 - 91 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
fees
£   
COST
At 1 January 2023
and 31 December 2023 34,938
AMORTISATION
At 1 January 2023 21,255
Amortisation for year 3,494
At 31 December 2023 24,749
NET BOOK VALUE
At 31 December 2023 10,189
At 31 December 2022 13,683

Your Way Senior Care Limited (Registered number: 10262413)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 16,480 6,750 16,770 40,000
Additions 6,684 - 1,292 7,976
At 31 December 2023 23,164 6,750 18,062 47,976
DEPRECIATION
At 1 January 2023 5,802 3,586 5,713 15,101
Charge for year 1,790 706 2,678 5,174
At 31 December 2023 7,592 4,292 8,391 20,275
NET BOOK VALUE
At 31 December 2023 15,572 2,458 9,671 27,701
At 31 December 2022 10,678 3,164 11,057 24,899

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2023
and 31 December 2023 32,329
NET BOOK VALUE
At 31 December 2023 32,329
At 31 December 2022 32,329

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Bennett Homecare Limited
Registered office: Winnington Hall, Winnington Lane, Winnington, Northwich, England, CW8 4DU
Nature of business: Care services
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 76,256 (14,891 )
Profit for the year/period 91,247 10,192

7. STOCKS
2023 2022
£    £   
Stocks - 5,701

Your Way Senior Care Limited (Registered number: 10262413)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 39,952 4,661
Amounts owed by group undertakings - 10,705
Other debtors 94,275 71,848
134,227 87,214

Amounts falling due after more than one year:
Other debtors 9,180 -

Aggregate amounts 143,407 87,214

Amounts owed by group undertakings and related parties are unsecured, interest free and repayable on demand.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 10,055 10,055
Trade creditors 5,140 1,097
Amounts owed to group undertakings 3,237 -
Taxation and social security 47,294 37,755
Other creditors 55,596 58,417
121,322 107,324

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 11) 19,271 29,326

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,055 10,055

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,055 10,055

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,216 19,271

Your Way Senior Care Limited (Registered number: 10262413)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 32,140 11,374
Between one and five years 59,872 6,960
92,012 18,334

13. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 29,326 39,381

The bank loans are secured by a debenture over the company's assets and have also been personally guaranteed by the director.

14. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,438 4,510

Deferred
tax
£   
Balance at 1 January 2023 4,510
Charge to Income Statement during year 928
Balance at 31 December 2023 5,438

15. CALLED UP SHARE CAPITAL

On 31 October 2023 the company repurchased 10 B Ordinary £1 shares for a total consideration including associated costs of £12,540.

Your Way Senior Care Limited (Registered number: 10262413)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

16. RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the end of the reporting period were as follows:

Subsidiary company:

20232022
££
Amounts due by entities-10,705
Amounts due to entities3,237-

Company controlled by the director:

2023
£
Amounts due by entities22,974

17. POST BALANCE SHEET EVENTS

On 2 January 2024 the company transferred its investment in Bennett Homecare Limited to Chehsire Care Group Ltd by way of an in specie dividend at a value of £32,329.

18. ULTIMATE CONTROLLING PARTY

Post year end, on 1 January 2024, Cheshire Care Group Ltd acquired a 100% shareholding in Your Way Senior Care Limited and as a result became the immediate and ultimate parent of Your Way Senior Care Limited from this date.