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Registration number: 05695059

LSC Nursing & Care Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

LSC Nursing & Care Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

LSC Nursing & Care Services Ltd

Company Information

Director

Mrs Linda Shaw Carter

Registered office

44 Marston Road
Stafford
Staffordshire
ST16 3BU

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

LSC Nursing & Care Services Ltd

(Registration number: 05695059)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

67,794

66,820

Current assets

 

Debtors

369,040

385,322

Cash at bank and in hand

 

271,964

464,911

 

641,004

850,233

Creditors: Amounts falling due within one year

(261,414)

(385,977)

Net current assets

 

379,590

464,256

Total assets less current liabilities

 

447,384

531,076

Creditors: Amounts falling due after more than one year

(20,000)

(30,000)

Provisions for liabilities

(12,837)

(12,642)

Net assets

 

414,547

488,434

Capital and reserves

 

Called up share capital

5

1,000

1,000

Retained earnings

413,547

487,434

Shareholders' funds

 

414,547

488,434

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 April 2024
 

.........................................
Mrs Linda Shaw Carter
Director

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
44 Marston Road
Stafford
Staffordshire
ST16 3BU

These financial statements were authorised for issue by the director on 16 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 67 (2022 - 70).

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

46,161

62,390

108,551

Additions

-

22,995

22,995

Disposals

-

(7,250)

(7,250)

At 30 June 2023

46,161

78,135

124,296

Depreciation

At 1 July 2022

40,923

808

41,731

Charge for the year

1,315

14,264

15,579

Eliminated on disposal

-

(808)

(808)

At 30 June 2023

42,238

14,264

56,502

Carrying amount

At 30 June 2023

3,923

63,871

67,794

At 30 June 2022

5,238

61,582

66,820

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

6

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

20,000

30,000

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £110.00 (2022 - £140.00) per each Ordinary shares

110,000

140,000

 

 

8

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mrs Linda Shaw Carter

Mrs L Carter

119,742

138,119

(110,000)

147,862

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

Mrs Linda Shaw Carter

Mrs L Carter

99,461

160,282

(140,000)

119,742

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,072

9,072

Contributions paid to money purchase schemes

88,085

36,000

97,157

45,072