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REGISTERED NUMBER: 05064449 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

Family Care Associates (Holdings)
Limited

Family Care Associates (Holdings)
Limited (Registered number: 05064449)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Family Care Associates (Holdings)
Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: A T Williamson
P M Williamson





REGISTERED OFFICE: Business Centre
60 School Lane
Bamber Bridge
Preston
Lancashire
PR5 6QE





REGISTERED NUMBER: 05064449 (England and Wales)





AUDITORS: Mayes Business Partnership Ltd
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Family Care Associates (Holdings)
Limited (Registered number: 05064449)

Abridged Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,389,157 2,424,840
Investments 5 589,280 589,280
2,978,437 3,014,120

CURRENT ASSETS
Debtors 364,108 333,961
Cash at bank 10,629 6,444
374,737 340,405
CREDITORS
Amounts falling due within one year 1,284,671 1,236,843
NET CURRENT LIABILITIES (909,934 ) (896,438 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,068,503

2,117,682

CREDITORS
Amounts falling due after more than one
year

6

(554,149

)

(654,731

)

PROVISIONS FOR LIABILITIES (28,585 ) (21,725 )
NET ASSETS 1,485,769 1,441,226

CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Revaluation reserve 85,756 91,473
Retained earnings 1,300,013 1,249,753
SHAREHOLDERS' FUNDS 1,485,769 1,441,226

Family Care Associates (Holdings)
Limited (Registered number: 05064449)

Abridged Balance Sheet - 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 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 10 April 2024 and were signed on its behalf by:




P M Williamson - Director



A T Williamson - Director


Family Care Associates (Holdings)
Limited (Registered number: 05064449)

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

1. STATUTORY INFORMATION

Family Care Associates (Holdings) 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.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Family Care Associates (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the rental of owned property and is accounted for on an accrued basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Long leasehold - 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


Family Care Associates (Holdings)
Limited (Registered number: 05064449)

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 2,632,146
DEPRECIATION
At 1 January 2023 207,306
Charge for year 35,683
At 31 December 2023 242,989
NET BOOK VALUE
At 31 December 2023 2,389,157
At 31 December 2022 2,424,840

Included in cost or valuation of land and buildings is freehold land of £ 847,972 (2022 - £ 847,972 ) which is not depreciated.

Cost or valuation at 31 December 2023 is represented by:

Totals
£   
Valuation in 2016 114,341
Cost 2,517,805
2,632,146

Family Care Associates (Holdings)
Limited (Registered number: 05064449)

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

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 589,280
NET BOOK VALUE
At 31 December 2023 589,280
At 31 December 2022 589,280

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/12/23 31/12/22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 164,647 257,067

7. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Bank loans 675,883 762,110

Bank loans are secured via a cross guarantee and debenture along with charges over specific assets held by the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
100,000 Ordinary £1 100,000 100,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Fishwick FCCA (Senior Statutory Auditor)
for and on behalf of Mayes Business Partnership Ltd

Family Care Associates (Holdings)
Limited (Registered number: 05064449)

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

10. CONTINGENT LIABILITIES

The company has entered into a Composite Accounting Agreement dated 17 July 2007 (The "Agreement"). Each participating related party (Dalepeak Limited, Family Care Fostering Limited, Family Care Associates Limited, Family Care Associates (Holdings) Limited and Young Alliance Limited) has provided a guarantee to Barclays Bank PLC. Under the terms of the Agreement and the cross guarantees, Barclays Bank PLC is authorised to allow set-off for interest purposes and in certain circumstances to seize credit balances and apply them in reduction of liabilities including debit balances within the Composite Accounting System. The maximum potential liability arising under this guarantee at the year end was £Nil (2022: £580,693).

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.