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REGISTERED NUMBER: 02075995 (England and Wales)















Future Care Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






Future Care Limited (Registered number: 02075995)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Future Care Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: I O'Brien
C O'Sullivan





REGISTERED OFFICE: Nashley House
27 Montpelier
Weston-Super-Mare
North Somerset
BS23 2RN





REGISTERED NUMBER: 02075995 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Future Care Limited (Registered number: 02075995)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 16,800
Tangible assets 5 290,266 266,379
290,266 283,179

CURRENT ASSETS
Stocks 1,250 1,500
Debtors 6 325,993 64,880
Cash at bank and in hand 354,747 422,023
681,990 488,403
CREDITORS
Amounts falling due within one year 7 298,463 189,097
NET CURRENT ASSETS 383,527 299,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,793

582,485

PROVISIONS FOR LIABILITIES 42,235 37,088
NET ASSETS 631,558 545,397

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 631,556 545,395
SHAREHOLDERS' FUNDS 631,558 545,397

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

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

Future Care Limited (Registered number: 02075995)

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:




I O'Brien - Director



C O'Sullivan - Director


Future Care Limited (Registered number: 02075995)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Future 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Revenue is measured recognised when services are carried out. It is recognised at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, was previously being amortised over an estimated useful life of ten years. During the year ended 28 February 2018 the directors have revised their estimation of the remaining useful life to 5 years, with the remaining book value being amortised evenly over this period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Future Care Limited (Registered number: 02075995)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2022 - 52 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 1,800,000
AMORTISATION
At 1 August 2022 1,783,200
Charge for year 16,800
At 31 July 2023 1,800,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 16,800

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 38,688 185,552 327,511 22,771 574,522
Additions 53,400 - - - 53,400
At 31 July 2023 92,088 185,552 327,511 22,771 627,922
DEPRECIATION
At 1 August 2022 - 125,184 164,897 18,062 308,143
Charge for year - 12,074 16,262 1,177 29,513
At 31 July 2023 - 137,258 181,159 19,239 337,656
NET BOOK VALUE
At 31 July 2023 92,088 48,294 146,352 3,532 290,266
At 31 July 2022 38,688 60,368 162,614 4,709 266,379

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 86,961 43,135
Amounts owed by group undertakings 222,424 10,403
Other debtors 16,608 11,342
325,993 64,880

Future Care Limited (Registered number: 02075995)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 11,221 16,633
Taxation and social security 85,906 61,964
Other creditors 201,336 110,500
298,463 189,097

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.