Profad Care Agency Limited 09636223 Providing Care for the elderly and disabled in their own home false 1 January 2023 09636223 2023-01-01 2023-12-31 09636223 2022-12-31 09636223 2023-12-31 09636223 2022-01-01 2022-12-31 09636223 2021-12-31 09636223 2022-12-31 09636223 frs102-bus:FRS102 2023-01-01 2023-12-31 09636223 frs102-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09636223 frs102-bus:FullAccounts 2023-01-01 2023-12-31 09636223 frs102-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09636223 frs102-core:CurrentFinancialInstruments 2023-12-31 09636223 frs102-core:CurrentFinancialInstruments 2022-12-31 09636223 frs102-core:Non-currentFinancialInstruments 2023-12-31 09636223 frs102-core:Non-currentFinancialInstruments 2022-12-31 09636223 frs102-core:ShareCapital 2023-12-31 09636223 frs102-core:ShareCapital 2022-12-31 09636223 frs102-core:RetainedEarningsAccumulatedLosses 2023-12-31 09636223 frs102-core:RetainedEarningsAccumulatedLosses 2022-12-31 09636223 frs102-bus:Director1 2023-01-01 2023-12-31 09636223 frs102-core:ComputerEquipment 2023-01-01 2023-12-31 09636223 frs102-core:FurnitureFittings 2023-01-01 2023-12-31 09636223 frs102-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09636223 frs102-core:Vehicles 2023-01-01 2023-12-31 09636223 frs102-core:OwnedAssets 2023-01-01 2023-12-31 09636223 frs102-core:OwnedAssets 2022-01-01 2022-12-31 09636223 frs102-core:ComputerEquipment 2022-12-31 09636223 frs102-core:FurnitureFittings 2022-12-31 09636223 frs102-core:OtherPropertyPlantEquipment 2022-12-31 09636223 frs102-core:Vehicles 2022-12-31 09636223 frs102-core:ComputerEquipment 2023-12-31 09636223 frs102-core:FurnitureFittings 2023-12-31 09636223 frs102-core:OtherPropertyPlantEquipment 2023-12-31 09636223 frs102-core:Vehicles 2023-12-31 09636223 frs102-core:ComputerEquipment 2022-12-31 09636223 frs102-core:FurnitureFittings 2022-12-31 09636223 frs102-core:OtherPropertyPlantEquipment 2022-12-31 09636223 frs102-core:Vehicles 2022-12-31 09636223 frs102-core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 09636223 frs102-core:OtherProvisionsContingentLiabilities 2023-12-31 09636223 frs102-core:OtherProvisionsContingentLiabilities 2022-12-31 09636223 frs102-bus:OrdinaryShareClass1 2023-12-31 09636223 frs102-bus:OrdinaryShareClass1 2022-12-31 09636223 frs102-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
09636223
Profad Care Agency Limited
Unaudited Accounts
for the year ended
31 December 2023
Profad Care Agency Limited
Balance Sheet
as at 31 December 2023
Notes
2023
£
2022
£
Fixed assets
Tangible assets 7 383,981 393,777
383,981 393,777
Current assets
Stocks 8 18,300 16,500
Debtors 9 290,000 180,880
Cash at bank and in hand 242,317 210,119
550,617 407,499
Prepayments and accrued income: 225,000 219,059
Creditors: amounts falling due within one year 10 (21,596) (94,462)
Net current assets / (liabilities) 754,021 532,096
Total assets less current liabilities 1,138,002 925,873
Creditors: amounts falling due after more than one year 11 (300,585) (210,000)
Provisions for liabilities 12 (90,510) (97,142)
Total net assets (liabilities) 746,907 618,731
Capital and reserves
Called up share capital 13 100,000 100,000
Profit and loss account 646,907 518,731
Shareholders' funds 746,907 618,731

Profad Care Agency Limited
Balance Sheet
as at 31 December 2023



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

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

Mr D Adeniyi

Director


Approved by the board on 30 July 2024

Company Number: 09636223 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

Unit 3&5
1, Bethwin Road
London
SE5 0SH
England

Profad Care Agency Limited
Notes to the Accounts
for the year ended 31 December 2023

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Revenue from both local authorities, NHS Hospitals, private clients and also income from franchisee and sale of business were all income generated for the period under review
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Computer equipment 20% Reducing Balance
Fixtures & fittings 20% Reducing Balance
Other 20% Reducing Balance
Vehicles 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.
Deferred taxation
Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.
Research and development
Expenditure on research is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life.
Leases and hire purchase contracts
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful economic lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme, with contributions charged to the profit and loss account for the year in which they are payable to the scheme.
Other accounting policies
The company Qualifies for limited disclosure of small and medium company rules
2. Profit or loss

Profit before tax is stated after charging the following:

2023

2022
£ £
Depreciation - owned assets 95,000 98,444
Directors' remuneration 14,000 63,000

3. Taxation
2023 2022
£ £
UK Corporation Tax 21,596 9,462
Tax on profit/(loss) on ordinary activities 21,596 9,462

Other taxation information

There are no other taxation accrue during the period as all payee for this period had all mbeen taking care of


4. Directors' remuneration
2023 2022
£ £
Directors' salaries 14,000 0
Total 14,000 0

Additional director remuneration information

Director Earn£75000 of its income through Dividend


5. Employees
2023 2022
Average number of employees during the period 255 250

Other employment information

The company is fair employer and does not descriminate in its employment
The company has sponsorship licence currently have over 186 staff on its sponsorship liocence.
Th


6. Income or expenditure of exceptional size or incidence

The company has income from its franchisee and also sale of contract which has become part of the normal activities of the company and this will continue into a foreable future


7. Tangible fixed assets
Computer equipment Fixtures & fittings Other Vehicles Total
Cost or valuation £ £ £ £ £
At 1 January 2023 275,905 284,555 13,000 75,380 648,840
Additions 28,200 52,500 0 5,500 86,200
At 31 December 2023 304,105 337,055 13,000 80,880 735,040
Depreciation
At 1 January 2023 93,129 127,027 4,482 30,425 255,063
Charge for the period 42,195 42,006 1,704 10,091 95,996
At 31 December 2023 135,324 169,033 6,186 40,516 351,059
Net book value
At 31 December 2023 168,781 168,022 6,814 40,364 383,981
At 31 December 2022 182,776 157,528 8,518 44,955 393,777

8. Stocks
2023 2022
£ £
Finished goods 18,300 16,500
18,300 16,500

Other stocks information

stocks are madeup of stationeries, PPE and other consumable item across all the branches


9. Debtors
2023 2022
£ £
Trade debtors 205,000 150,250
Other debtors 85,000 30,630
290,000 180,880

Of the above, the following are due in more than one year

£ £
Trade debtors 205,000 150,250
Other debtors 85,000 30,630
290,000 180,880

Debtors are invoice due which remittance has not been received


10. Creditors: amounts falling due within one year
2023 2022
£ £
Bank Loans & Overdrafts 0 44,500
Trade creditors 0 15,000
Taxation & social security 21,596 14,962
Other creditors 0 20,000
21,596 94,462

11. Creditors: amounts falling due after one year
2023 2022
£ £
Bank Loans & overdrafts 85,000 210,000
Other 215,585 0
300,585 210,000

These are loans from Funding Circle and Crowd funding


12. Provisions
2023 2022
£ £
Other 90,510 97,142
90,510 97,142

13. Share capital
2023 2022
£ £
Allotted, called up and fully paid:
100,000 (2022: 100,000) Ordinary shares of £0.00 each 0 0
100,000 100,000

14. Dividends
2023 2022
£ £
Total dividend payment 75,000 0

15. Related party disclosures

Controlling party
There are no related parties available for disclosure during the period

16. Transactions with directors

There are no major transaction with the Director during the period