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Registration number: SC544001

Eidyn Care Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Eidyn Care Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

Accountants' Report

10

 

Eidyn Care Ltd

Company Information

Directors

Mr Andrew Nairn Robertson McLennan

Mrs Elizabeth Rebecca McLennan

Registered office

157 Broughton Road
Edinburgh
EH7 4JJ

Accountants

EQ Accountants (Trading name)
Yates Business Solutions Ltd
Unit 4B, Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Eidyn Care Ltd

(Registration number: SC544001)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

68,000

91,274

Investments

5

285,458

285,458

 

353,458

376,732

Current assets

 

Debtors

6

61,589

35,341

Cash at bank and in hand

 

18

54,790

 

61,607

90,131

Creditors: Amounts falling due within one year

7

(322,420)

(290,187)

Net current liabilities

 

(260,813)

(200,056)

Total assets less current liabilities

 

92,645

176,676

Creditors: Amounts falling due after more than one year

7

(91,438)

(161,014)

Provisions for liabilities

(780)

(4,260)

Net assets

 

427

11,402

Capital and reserves

 

Called up share capital

2

2

Retained earnings

425

11,400

Shareholders' funds

 

427

11,402

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 June 2024 and signed on its behalf by:
 

 

Eidyn Care Ltd

(Registration number: SC544001)
Balance Sheet as at 30 April 2024

.........................................
Mr Andrew Nairn Robertson McLennan
Director

 

Eidyn Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

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.

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.

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.

 

Eidyn Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Office equipment

33% on cost

Plant and machinery

25% on reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 52 (2023 - 56).

 

Eidyn Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

4,629

17,787

128,780

151,196

Additions

-

1,493

-

1,493

At 30 April 2024

4,629

19,280

128,780

152,689

Depreciation

At 1 May 2023

2,663

14,208

43,051

59,922

Charge for the year

491

2,844

21,432

24,767

At 30 April 2024

3,154

17,052

64,483

84,689

Carrying amount

At 30 April 2024

1,475

2,228

64,297

68,000

At 30 April 2023

1,966

3,579

85,729

91,274

5

Investments

2024
£

2023
£

Investments in subsidiaries

285,458

285,458

Subsidiaries

£

Cost or valuation

At 1 May 2023

285,458

Provision

Carrying amount

At 30 April 2024

285,458

At 30 April 2023

285,458

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Eidyn Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Eidyn Care (Fife) Ltd

Scotland

Ordinary

100%

100%

6

Debtors

Current

2024
£

2023
£

Trade debtors

19,692

14,041

Prepayments

832

-

Other debtors

41,065

21,300

 

61,589

35,341

 

Eidyn Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

42,816

42,676

Trade creditors

 

1,597

-

Taxation and social security

 

57,359

47,828

Other creditors

 

220,648

199,683

 

322,420

290,187

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

44,438

64,014

Other non-current financial liabilities

 

47,000

97,000

 

91,438

161,014

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,701

19,702

Hire purchase contracts

34,737

44,312

44,438

64,014

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,132

11,132

Bank overdrafts

22,842

24,238

Hire purchase contracts

8,842

7,306

42,816

42,676

9

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

 

Eidyn Care Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
 £

2023
 £

Within one year

18,900

18,900

Between one and five years

4,725

23,625

23,625

42,525

10

Related party transactions

Transactions with directors

Debtors include the following amounts which are owed from individuals who were directors of the company during the year:

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr Andrew Nairn Robertson McLennan

Loan

-

9,807

9,807

Mrs Elizabeth Rebecca McLennan

Loan

-

9,807

9,807

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2024
 £

2023
 £

Mr A N R McLennan

-

2,043

Mrs E R McLennan

-

2,043

 

-

4,086

The maximum balance outstanding during the year amounted to £4,086.

The directors current accounts are repayable on demand.

Other debtors includes an amount of £20,000 (2023: £20,000) which is owed from a related party, Edyn Digital Ltd, in which Andrew McLennan is also a director. The loan is repayable on demand.

Other creditors includes an amount of £151,127 (2023: £129,270) which is owed to a subsidiary, Eidyn Care (Fife) Ltd, in which Andrew & Rebecca McLennan were also directors. The loan is repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Eidyn Care Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eidyn Care Ltd for the year ended 30 April 2024 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Eidyn Care Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Eidyn Care Ltd and state those matters that we have agreed to state to the Board of Directors of Eidyn Care Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eidyn Care Ltd and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Eidyn Care Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants (Trading name)
Yates Business Solutions Ltd
Unit 4B, Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

20 June 2024