Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-10falseThe company activity continue to be Residential care activities for the elderly and disabled.43truetrue 14654896 2023-02-09 14654896 2023-02-10 2023-12-31 14654896 2022-02-10 2023-02-09 14654896 2023-12-31 14654896 c:Director2 2023-02-10 2023-12-31 14654896 d:Buildings 2023-02-10 2023-12-31 14654896 d:Buildings 2023-12-31 14654896 d:Buildings d:OwnedOrFreeholdAssets 2023-02-10 2023-12-31 14654896 d:LandBuildings 2023-12-31 14654896 d:FurnitureFittings 2023-02-10 2023-12-31 14654896 d:FurnitureFittings 2023-12-31 14654896 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-10 2023-12-31 14654896 d:ComputerEquipment 2023-02-10 2023-12-31 14654896 d:ComputerEquipment 2023-12-31 14654896 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-10 2023-12-31 14654896 d:OwnedOrFreeholdAssets 2023-02-10 2023-12-31 14654896 d:Goodwill 2023-02-10 2023-12-31 14654896 d:Goodwill 2023-12-31 14654896 d:CurrentFinancialInstruments 2023-12-31 14654896 d:Non-currentFinancialInstruments 2023-12-31 14654896 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14654896 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 14654896 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 14654896 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 14654896 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 14654896 d:ShareCapital 2023-02-10 2023-12-31 14654896 d:ShareCapital 2023-12-31 14654896 d:RetainedEarningsAccumulatedLosses 2023-02-10 2023-12-31 14654896 d:RetainedEarningsAccumulatedLosses 2023-12-31 14654896 c:FRS102 2023-02-10 2023-12-31 14654896 c:AuditExempt-NoAccountantsReport 2023-02-10 2023-12-31 14654896 c:FullAccounts 2023-02-10 2023-12-31 14654896 c:PrivateLimitedCompanyLtd 2023-02-10 2023-12-31 14654896 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-02-10 2023-12-31 14654896 7 2023-02-10 2023-12-31 14654896 d:Goodwill d:OwnedIntangibleAssets 2023-02-10 2023-12-31 14654896 e:PoundSterling 2023-02-10 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14654896









R&D CARE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
R&D CARE LTD
REGISTERED NUMBER: 14654896

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Intangible assets
 5 
93,488

Tangible assets
 6 
1,626,233

  
1,719,721

Current assets
  

Stocks
  
6,000

Debtors: amounts falling due within one year
 7 
62,658

Cash at bank and in hand
 8 
75,469

  
144,127

Creditors: amounts falling due within one year
 9 
(850,798)

Net current (liabilities)/assets
  
 
 
(706,671)

Total assets less current liabilities
  
1,013,050

Creditors: amounts falling due after more than one year
 10 
(988,533)

  

Net assets
  
24,517


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
24,417

  
24,517


Page 1

 
R&D CARE LTD
REGISTERED NUMBER: 14654896
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 June 2024.




DR R Arulnesan
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
R&D CARE LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period
-
24,417
24,417
Total comprehensive income for the period
-
24,417
24,417

Shares issued during the period
100
-
100


At 31 December 2023
100
24,417
24,517

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

R&D Care Ltd  is a private company limited by share capital, incorporated in England and Wales, registration number 14654896. The address of the registered office is 313 The Parkway Iver Heath, Buckinghamshire, England, SL0 0RL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors believe that the company has the ability to fulfil its financial obligations for a period of at least twelve months from the date of these financial statements and therefore consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Fixtures and fittings
-
5 years
Computer equipment
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

ln applying the Company's accounting policies, the directors are required to make judgments, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgments, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.
Due to the inherent subjectivity involved in making such judgments, estimates and assumptions, the actual results and outcomes may differ.
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, if the revision affects only that period, or in the period of the revision and future periods, if the revision effects both current and future periods.
Key sources of estimation uncertainty
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors consider the following to be significant areas of judgment and key accounting estimates:
- Valuation of stock and stock provisions is an area of key accounting estimate. The entity's policy in relation to stock provisioning is therefore to provide for obsolete, slow moving and defective stock, and therefore ensure that stock is held at the most appropriate estimate of net realisable value;
- Depreciation of tangible fixed assets respectively are also key accounting estimates. Depreciation is estimated based upon the expected useful lives of the company's tangible fixed assets;
- Amortisation of goodwill respectively is also key accounting estimates. Amortisation is estimated based upon the expected useful lives of the company's goodwill.


4.


Employees

The average monthly number of employees, including the directors, during the period was 43.


Page 7

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Intangible assets



Goodwill

£



Cost


Additions
97,553



At 31 December 2023

97,553



Amortisation


Charge for the period on owned assets
4,065



At 31 December 2023

4,065



Net book value



At 31 December 2023
93,488




6.


Tangible fixed assets





Freehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


Additions
1,565,291
60,001
2,941
1,628,233



At 31 December 2023

1,565,291
60,001
2,941
1,628,233



Depreciation


Charge for the period on owned assets
-
2,000
-
2,000



At 31 December 2023

-
2,000
-
2,000



Net book value



At 31 December 2023
1,565,291
58,001
2,941
1,626,233

Page 8

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

           6.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2023
£

Freehold
1,565,291

1,565,291



7.


Debtors

2023
£


Trade debtors
44,416

Prepayments and accrued income
18,242

62,658



8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
75,469

75,469


Page 9

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
£

Bank loans
26,683

Trade creditors
8,887

Corporation tax
6,513

Other taxation and social security
20,325

Other creditors
726,273

Accruals and deferred income
62,117

850,798


The bank loan is secured by way of a fixed and floating charge over the asset of the company.
The directors and shareholder have given personal guarantee.


10.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
988,533

988,533


Page 10

 
R&D CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Bank loans
26,683


26,683

Amounts falling due 1-2 years

Bank loans
34,040


34,040

Amounts falling due 2-5 years

Bank loans
76,657


76,657

Amounts falling due after more than 5 years

Bank loans
877,836

877,836

1,015,216


The loan is at 4% over the Bank of England Base Rate for a period of 240 months from (and including) the date of the first drawdown of the Facility.


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administrated fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,036. Contributions totaling £3,693 were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

The ultimate controlling party is Mr D Dayalan.
 
Page 11