REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Family Care Associates (Holdings) |
Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
Family Care Associates (Holdings) |
Limited (Registered number: 05064449) |
Abridged Balance Sheet - continued |
31 December 2023 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Long leasehold | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
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: | £ | £ |
Ordinary | £1 | 100,000 | 100,000 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |