Company Registration No. 09027701 (England and Wales)
EASY LIVING CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
EASY LIVING CARE LIMITED
COMPANY INFORMATION
Directors
Mrs S Mercy
Miss R Mercy
Company number
09027701
Registered office
16a St Peters Street
Tiverton
Devon
EX16 6NU
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
Business address
4A Oaklands Court
Tiverton Business Park
Tiverton
Devon
United Kingdom
EX16 6TG
EASY LIVING CARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EASY LIVING CARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
930,087
871,247
Current assets
Stocks
5,000
5,000
Debtors
5
42,421
108,430
Cash at bank and in hand
296,090
104,592
343,511
218,022
Creditors: amounts falling due within one year
6
(339,072)
(208,174)
Net current assets
4,439
9,848
Total assets less current liabilities
934,526
881,095
Creditors: amounts falling due after more than one year
7
(323,129)
(398,281)
Provisions for liabilities
(51,163)
(45,608)
Net assets
560,234
437,206
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
560,134
437,106
Total equity
560,234
437,206
EASY LIVING CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 4 September 2024 and are signed on its behalf by:
Mrs S Mercy
Director
Company Registration No. 09027701
EASY LIVING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Easy Living Care Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents the total value of fees receivable for the year, namely for the provision of professional care services.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
No depreciation
Fixtures, fittings & equipment
15% Reducing balance
Computer equipment
3 Years straight line
Motor vehicles
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and net realisable value.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.6
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
EASY LIVING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 102 (2023 - 106).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
20,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
20,000
Carrying amount
At 31 March 2024
At 31 March 2023
EASY LIVING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
757,447
112,770
17,903
98,012
986,132
Additions
94,232
94,232
Disposals
(38,744)
(38,744)
At 31 March 2024
851,679
112,770
17,903
59,268
1,041,620
Depreciation and impairment
At 1 April 2023
59,604
17,903
37,377
114,884
Depreciation charged in the year
7,975
11,073
19,048
Eliminated in respect of disposals
(22,399)
(22,399)
At 31 March 2024
67,579
17,903
26,051
111,533
Carrying amount
At 31 March 2024
851,679
45,191
33,217
930,087
At 31 March 2023
757,447
53,166
60,634
871,247
Freehold land and buildings have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
30,088
100,298
Unpaid share capital
30
30
Other debtors
9,009
7,769
Prepayments and accrued income
3,294
333
42,421
108,430
EASY LIVING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
35,647
40,649
Obligations under finance leases
11,685
16,809
Payments received on account
54,406
Trade creditors
1,077
1,316
Corporation tax
99,426
15,528
Other taxation and social security
14,690
16,429
Other creditors
119,141
114,493
Accruals and deferred income
3,000
2,950
339,072
208,174
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
305,605
348,660
Other creditors
17,524
49,621
323,129
398,281
Amounts included above which fall due after five years are as follows:
Payable by instalments
-
206,071
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
70 Ordinary A shares of £1 each
70
70
30 Ordinary B shares of £1 each
30
30
100
100