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REGISTERED NUMBER: 10197123 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GRANDCARE SYSTEMS LIMITED

GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRANDCARE SYSTEMS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Mrs S Warnes





REGISTERED OFFICE: 2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY





REGISTERED NUMBER: 10197123 (England and Wales)





ACCOUNTANTS: Connaughton & Co
2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY

GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,431,131 2,346,952
Tangible assets 5 13,367 29,243
3,444,498 2,376,195

CURRENT ASSETS
Debtors 6 360,147 457,760
Cash at bank 21,425 15,200
381,572 472,960
CREDITORS
Amounts falling due within one year 7 2,226,731 1,215,488
NET CURRENT LIABILITIES (1,845,159 ) (742,528 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,599,339

1,633,667

CREDITORS
Amounts falling due after more than one
year

8

(247,514

)

(56,428

)

PROVISIONS FOR LIABILITIES 9 (597,764 ) (357,792 )
NET ASSETS 754,061 1,219,447

CAPITAL AND RESERVES
Called up share capital 10 513 513
Share premium 11 549,890 549,890
Retained earnings 11 203,658 669,044
SHAREHOLDERS' FUNDS 754,061 1,219,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)

BALANCE SHEET - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Mrs S Warnes - Director


GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Grandcare Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Software and software development costs
Software assets acquired separately from a business are recognised at cost together with any further development expenditure of a capital nature.

During the development phase of the project the intangible assets continued to be measured at cost less accumulated impairment losses, once the development phase is complete the intangible asset will be recognised at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Software
& software
developmen
t costs
£   
COST
At 1 April 2023 2,346,952
Additions 1,084,179
At 31 March 2024 3,431,131
NET BOOK VALUE
At 31 March 2024 3,431,131
At 31 March 2023 2,346,952

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 18,030 49,109 67,139
DEPRECIATION
At 1 April 2023 13,293 24,603 37,896
Charge for year 1,184 14,692 15,876
At 31 March 2024 14,477 39,295 53,772
NET BOOK VALUE
At 31 March 2024 3,553 9,814 13,367
At 31 March 2023 4,737 24,506 29,243

GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 8,147 1,097
Other debtors 2,450 2,450
Tax 161,628 151,553
VAT 57,260 11,576
Prepayments and accrued income - 2,449
229,485 169,125

Amounts falling due after more than one year:
Other debtors 130,662 288,635

Aggregate amounts 360,147 457,760

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 11,359 9,932
Other loans 20,500 20,500
Trade creditors 1,222,430 308,565
Social security and other taxes 23,114 22,077
Other creditors 727,178 616,689
Accrued expenses 222,150 237,725
2,226,731 1,215,488

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 11,454 10,184
Bank loans - 2-5 years 8,415 12,222
Directors' loan accounts 227,645 34,022
247,514 56,428

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 597,764 357,792

Deferred
tax
£   
Balance at 1 April 2023 357,792
Accelerated capital allowances 239,972
Balance at 31 March 2024 597,764

GRANDCARE SYSTEMS LIMITED (REGISTERED NUMBER: 10197123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
403 Ordinary £1 403 403
110 A Ordinary £1 110 110
513 513

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 669,044 549,890 1,218,934
Deficit for the year (465,386 ) (465,386 )
At 31 March 2024 203,658 549,890 753,548