Trewcare Limited 3184529 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of home nursing care Digita Accounts Production Advanced 6.30.9574.0 true true 3184529 2023-04-01 2024-03-31 3184529 2024-03-31 3184529 core:RetainedEarningsAccumulatedLosses 2024-03-31 3184529 core:ShareCapital 2024-03-31 3184529 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 3184529 bus:SmallEntities 2023-04-01 2024-03-31 3184529 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 3184529 bus:FilletedAccounts 2023-04-01 2024-03-31 3184529 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 3184529 bus:RegisteredOffice 2023-04-01 2024-03-31 3184529 bus:Director1 2023-04-01 2024-03-31 3184529 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 3184529 core:MotorVehicles 2023-04-01 2024-03-31 3184529 core:OfficeEquipment 2023-04-01 2024-03-31 3184529 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 3184529 countries:England 2023-04-01 2024-03-31 3184529 2023-03-31 3184529 2022-04-01 2023-03-31 3184529 2023-03-31 3184529 core:RetainedEarningsAccumulatedLosses 2023-03-31 3184529 core:ShareCapital 2023-03-31 3184529 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 3184529

Trewcare Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Trewcare Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Abridged Financial Statements

3 to 6

 

Trewcare Limited

(Registration number: 3184529)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,030

8,161

Current assets

 

Stocks

500

500

Debtors

27,700

22,136

Cash at bank and in hand

 

166,046

162,590

 

194,246

185,226

Prepayments and accrued income

 

65,585

67,110

Creditors: Amounts falling due within one year

(27,648)

(34,448)

Net current assets

 

232,183

217,888

Total assets less current liabilities

 

240,213

226,049

Provisions for liabilities

(291)

(40)

Accruals and deferred income

 

(111,243)

(98,363)

Net assets

 

128,679

127,646

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

128,579

127,546

Total equity

 

128,679

127,646

 

Trewcare Limited

(Registration number: 3184529)
Abridged Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised for issue by the Board on 9 July 2024 and signed on its behalf by:
 

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

Mrs N J Blackmore
Director

 

Trewcare Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Trewcare House
Tregoniggie Industrial Estate
Falmouth
TR11 4SN

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 abridged 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 abridged 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The company operates in the Domicilliary Care industry which is particularly susceptible to staff shortages, the impact of the cost of living crisis on pay rates, and low margins.

The Directors continually review the business operations and are confident, given the strong core business and available cash reserves, that viability can be maintained, and the accounts are prepared on a going concern basis accordingly.

However, as future conditions or events, such as Covid-19, coupled with the cost of living crisis, inflation and the future economic repercussions, cannot be predicted, this is not a guarantee as to the company’s ability to continue as a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities and is recognised as the services are provided. Turnover is shown net of rebates and discounts.

 

Trewcare Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Government grants

Government grants are recognised at the fair value of the asset received or receivable, when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received, using the accrual model.

Tax

The tax expense for the period comprises tax. Tax is recognised in the profit or loss account, 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.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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 provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance / 33% straight line

Motor Vehicles

25% reducing balance

Website

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Trewcare Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Trade debtors

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

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

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.

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 directors) during the year, was 61 (2023 - 64).

 

Trewcare Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Total
£

Cost

At 1 April 2023

76,000

Additions

4,194

Disposals

(24,835)

At 31 March 2024

55,359

Depreciation

At 1 April 2023

67,839

Charge for the year

4,175

Eliminated on disposal

(24,685)

At 31 March 2024

47,329

Carrying amount

At 31 March 2024

8,030

At 31 March 2023

8,161

5

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £26,739 (2023 - £69,330).

Commitments not included in the balance sheet include £23,125 (2023 - £41,250) in relation to a property lease which has been guaranteed by Directors of the company.