REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
CARE MORE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
CARE MORE LIMITED |
CARE MORE LIMITED (REGISTERED NUMBER: 09060405) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CARE MORE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
First Floor |
Ridgeland House |
15 Carfax |
Horsham |
West Sussex |
RH12 1DY |
CARE MORE LIMITED (REGISTERED NUMBER: 09060405) |
BALANCE SHEET |
30 NOVEMBER 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CARE MORE LIMITED (REGISTERED NUMBER: 09060405) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Care More Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company’s accounting policies, the director required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Treatment of leases |
Determine whether leases entered into by the company either as a lessor or a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. |
Impairment of tangible and intangible fixed assets |
Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. |
Tangible fixed assets |
Tangible fixed assets, other than freehold property and investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issued such as future market conditions, the remaining life of the asset and projected disposal values. |
Estimating the fair value and value in use |
The Directors have made estimates of the fair value of financial instruments using suitable, available evidence. Where third party valuations are available, these have been incorporated by the Directors in any estimates made, taking into account the valuer's qualifications and the reasonableness of any assumptions that have been used. |
Where there is an indication that fixed assets have been impaired, the Directors have carried out an impairment review to determine the recoverable amount, which is the higher of fair value less cost to sell and value in use. The value in use calculation requires the Directors to estimate the future cash flows expected to arise from the asset or the cash generating unit, and a suitable discount rate in order to calculate present value. |
Recoverability of trade and other debtors |
A provision for bad and doubtful debts is established where it is estimated that trade or other debtors are not fully recoverable. When assessing recoverability the Directors consider factors such as the ageing of the receivables, past experience of recoverability, and the credit profile of individual or groups of debtors. |
Calculation of provisions and contingencies |
Where the company becomes obligated to make a future payment as a result of past events, the Directors make an estimate of the provision required in the accounts. Where it is deemed likely that a future payment is required but no reliable estimate can be made of its value, the Directors will assess whether it is more suitable to make a disclosure of these contingencies in the accounts rather than making a provision. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
CARE MORE LIMITED (REGISTERED NUMBER: 09060405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
CARE MORE LIMITED (REGISTERED NUMBER: 09060405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
Hire purchase contracts |
8. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £148,000 (2022 - £273,000) were paid to the directors . |
During the year the company received rent totalling £11,200 (2022: £nil) from Care More Recruitment Limited. As at the year end date, the company was owed £147,343 (2002: £177,844) by Care More Recruitment Limited, a company which the director P Patel has a controlling interest. The loan carries a market rate of interest and is repayable on demand. |
During the year the company charged Care More Franchising £128,548 (2022: £nil) for the management of and costs associated with the business. The company also made a loan totalling £125,000 (2022: £nil) to Care More Franchising Limited and this amount remains outstanding at the year end. At the year end the company is owed £253,548 (2022: £nil). The company is controlled by the directors of Care More Limited. |