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Registered number: 12098237
Upwards Residential Care Services Limited
Financial Statements
For The Year Ended 31 July 2023
Patel & Co. Accountants
362 Derby Street
Bolton
BL3 6LS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12098237
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,882 14,778
24,882 14,778
CURRENT ASSETS
Debtors 5 147,119 138,113
Cash at bank and in hand 20,291 13,747
167,410 151,860
Creditors: Amounts Falling Due Within One Year 6 (229,501 ) (247,498 )
NET CURRENT ASSETS (LIABILITIES) (62,091 ) (95,638 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,209 ) (80,860 )
NET LIABILITIES (37,209 ) (80,860 )
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account (37,213 ) (80,864 )
SHAREHOLDERS' FUNDS (37,209) (80,860)
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kudakwashe Shumba
Director
25th April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Upwards Residential Care Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12098237 . The registered office is Suite 1, 4th Floor Building 1, Wilson Business Park, Monsall Road, Manchester, M40 8WN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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 work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% on WDV
Motor Vehicles 18% on WDV
Fixtures & Fittings 18% on WDV
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 1)
9 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2022 - 14,553 3,580 18,133
Additions 466 11,593 698 12,757
As at 31 July 2023 466 26,146 4,278 30,890
Depreciation
As at 1 August 2022 - 2,183 1,172 3,355
Provided during the period 84 2,087 482 2,653
As at 31 July 2023 84 4,270 1,654 6,008
Net Book Value
As at 31 July 2023 382 21,876 2,624 24,882
As at 1 August 2022 - 12,370 2,408 14,778
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 42,771 122,745
Other debtors 1,500 -
Other taxes and social security 580 6,007
Amounts owed by associates 102,268 9,361
147,119 138,113
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 107,015 41,028
Other loans - 5,000
Net wages 11,032 24,955
Other creditors 11,054 -
Accruals and deferred income 400 16,142
Director's loan account 100,000 105,573
Amounts owed to group undertakings - 54,800
229,501 247,498
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
Page 4