Registration number:
Elite Care Solutions Ltd
for the Year Ended 31 March 2024
Elite Care Solutions Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Elite Care Solutions Ltd
Company Information
Directors |
Mrs R Buss Mr S Buss |
Registered office |
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Elite Care Solutions Ltd
(Registration number: 07128156)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
311,855 |
295,844 |
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Shareholders' funds |
311,857 |
295,846 |
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:
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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.
Approved and authorised by the
Elite Care Solutions Ltd
(Registration number: 07128156)
Balance Sheet as at 31 March 2024
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Elite Care Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The Company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
Basis of preparation
The financial statements have been prepared in sterling and are rounded to the nearest pound.
The financial statements cover the individual entity, Elite Care Solutions Limited.
Going concern
Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.
Revenue Recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the companies activities.
Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement if Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised by the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Elite Care Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance |
Fixtures and fittings |
25% on reducing balance |
Computer equipment |
25% on reducing balance |
Motor Vehicles |
20% on reducing balance |
Goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Elite Care Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Elite Care Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
- |
- |
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2023 |
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- |
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Additions |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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- |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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- |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Other debtors |
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Elite Care Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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- |
Creditors include hire purchase contracts of £44,490 (2023 - £Nil). These were secured against the assets purchased against the hire purchase agreement.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
The below advance had no fixed repayment date and was unsecured. Interest has been charged at the official rate of interest.
Elite Care Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Transactions with Directors |
2024 |
At 1 April 2023 |
Advances to Director |
Repayments by Director |
At 31 March 2024 |
Mrs R Buss |
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Mrs R Buss and Mr S Buss |
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( |
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2023 |
At 1 April 2022 |
Advances to Director |
Repayments by Director |
At 31 March 2023 |
Mrs R Buss |
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Mrs R Buss and Mr S Buss |
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( |
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