Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false44false2022-08-01No description of principal activity40truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10888031 2022-08-01 2023-07-31 10888031 2021-08-01 2022-07-31 10888031 2023-07-31 10888031 2022-07-31 10888031 c:Director1 2022-08-01 2023-07-31 10888031 d:PlantMachinery 2022-08-01 2023-07-31 10888031 d:MotorVehicles 2022-08-01 2023-07-31 10888031 d:MotorVehicles 2023-07-31 10888031 d:MotorVehicles 2022-07-31 10888031 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10888031 d:FurnitureFittings 2022-08-01 2023-07-31 10888031 d:FurnitureFittings 2023-07-31 10888031 d:FurnitureFittings 2022-07-31 10888031 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10888031 d:OfficeEquipment 2022-08-01 2023-07-31 10888031 d:OfficeEquipment 2023-07-31 10888031 d:OfficeEquipment 2022-07-31 10888031 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10888031 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10888031 d:Goodwill 2022-08-01 2023-07-31 10888031 d:Goodwill 2023-07-31 10888031 d:Goodwill 2022-07-31 10888031 d:OtherResidualIntangibleAssets 2022-08-01 2023-07-31 10888031 d:CurrentFinancialInstruments 2023-07-31 10888031 d:CurrentFinancialInstruments 2022-07-31 10888031 d:Non-currentFinancialInstruments 2023-07-31 10888031 d:Non-currentFinancialInstruments 2022-07-31 10888031 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10888031 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 10888031 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 10888031 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 10888031 d:ShareCapital 2023-07-31 10888031 d:ShareCapital 2022-07-31 10888031 d:RetainedEarningsAccumulatedLosses 2023-07-31 10888031 d:RetainedEarningsAccumulatedLosses 2022-07-31 10888031 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 10888031 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 10888031 c:FRS102 2022-08-01 2023-07-31 10888031 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10888031 c:FullAccounts 2022-08-01 2023-07-31 10888031 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10888031 d:HirePurchaseContracts d:WithinOneYear 2023-07-31 10888031 d:HirePurchaseContracts d:WithinOneYear 2022-07-31 10888031 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-07-31 10888031 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-07-31 10888031 2 2022-08-01 2023-07-31 10888031 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-31 10888031 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-31 10888031 d:LeasedAssetsHeldAsLessee 2023-07-31 10888031 d:LeasedAssetsHeldAsLessee 2022-07-31 10888031 d:Goodwill d:OwnedIntangibleAssets 2022-08-01 2023-07-31 10888031 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 10888031









MARYS CARE LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
MARYS CARE LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MARYS CARE LTD
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MARYS CARE LTD for the year ended 31 July 2023 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of MARYS CARE LTD, as a body, in accordance with the terms of our engagement letter dated 18 April 2024Our work has been undertaken solely to prepare for your approval the financial statements of MARYS CARE LTD and state those matters that we have agreed to state to the Board of directors of MARYS CARE LTD, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MARYS CARE LTD and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that MARYS CARE LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MARYS CARE LTD. You consider that MARYS CARE LTD is exempt from the statutory audit requirement for the year.

  



Ashon Chartered Accountants
125 Knoll Crescent
Northwood
Middlesex
HA6 1HX
23 April 2024
Page 1

 
MARYS CARE LTD
REGISTERED NUMBER: 10888031

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
8,135
10,340

Tangible assets
 5 
55,291
2,321

  
63,426
12,661

Current assets
  

Debtors: amounts falling due within one year
 6 
127,985
59,784

Cash at bank and in hand
  
143,059
177,904

  
271,044
237,688

Creditors: amounts falling due within one year
 7 
(117,726)
(65,903)

Net current assets
  
 
 
153,318
 
 
171,785

Total assets less current liabilities
  
216,744
184,446

Creditors: amounts falling due after more than one year
 8 
(73,909)
(124,167)

Provisions for liabilities
  

Deferred tax
  
(13,823)
-

  
 
 
(13,823)
 
 
-

Net assets
  
129,012
60,279


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
128,912
60,179

  
129,012
60,279


Page 2

 
MARYS CARE LTD
REGISTERED NUMBER: 10888031
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 April 2024.




Jenny Madghachian
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number: 10888031
Registered office address: 140 Aycliffe Road
                                       Borehamwood
                                       England
                                       WD6 4DY

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Other intangible fixed assets
-
10
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
13%
Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 44 (2022 - 40).

Page 7

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets




Other

£



Cost


At 1 August 2022
20,340



At 31 July 2023

20,340



Amortisation


At 1 August 2022
10,001


Charge for the year on owned assets
2,204



At 31 July 2023

12,205



Net book value



At 31 July 2023
8,135



At 31 July 2022
10,340



Page 8

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2022
-
-
6,775
6,775


Additions
60,500
795
1,053
62,348



At 31 July 2023

60,500
795
7,828
69,123



Depreciation


At 1 August 2022
-
-
4,454
4,454


Charge for the year on owned assets
7,563
199
1,616
9,378



At 31 July 2023

7,563
199
6,070
13,832



Net book value



At 31 July 2023
52,937
596
1,758
55,291



At 31 July 2022
-
-
2,321
2,321

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
52,938
-

52,938
-


6.


Debtors

2023
2022
£
£


Trade debtors
89,084
58,107

Other debtors
33,769
425

Prepayments and accrued income
5,132
1,252

127,985
59,784

Page 9

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.Debtors (continued)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
-
9,875

Trade creditors
14,512
7,073

Corporation tax
18,080
32,117

Other taxation and social security
4,759
9,098

Obligations under hire purchase contracts
5,885
-

Other creditors
66,100
5,220

Accruals and deferred income
8,390
2,520

117,726
65,903


The hire purchase contracts are secured on the assets concerned.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,167
44,167

Net obligations under hire purchase contracts
39,742
-

Other creditors
-
80,000

73,909
124,167


The hire purchase contracts are secured on the assets concerned.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
5,885
-

Between 1-5 years
39,742
-

45,627
-

Page 10

 
MARYS CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Deferred taxation




2023


£






Charged to profit or loss
(13,823)



At end of year
(13,823)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(13,823)
-

(13,823)
-


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £6,226 (2022: £6,611).
Contributions totalling £1,239 (2022: £1,709) were payable to the fund at the reporting date and are included in creditors.

 
Page 11