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Registration number: 07128156

Elite Care Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Elite Care Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Elite Care Solutions Ltd

Company Information

Directors

Mrs R Buss

Mr S Buss

Registered office

13-15 Beechway
Ashby
Scunthorpe
North Lincolnshire
DN16 2HF

 

Elite Care Solutions Ltd

(Registration number: 07128156)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

70,977

3,106

Current assets

 

Debtors

6

358,889

354,670

Cash at bank and in hand

 

84,804

53,445

 

443,693

408,115

Creditors: Amounts falling due within one year

7

(154,310)

(115,375)

Net current assets

 

289,383

292,740

Total assets less current liabilities

 

360,360

295,846

Creditors: Amounts falling due after more than one year

7

(33,367)

-

Provisions for liabilities

(15,136)

-

Net assets

 

311,857

295,846

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

311,855

295,844

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:

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.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

 

Elite Care Solutions Ltd

(Registration number: 07128156)
Balance Sheet as at 31 March 2024

.........................................
Mrs R Buss
Director

 

Elite Care Solutions Ltd

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
13-15 Beechway
Ashby
Scunthorpe
North Lincolnshire
DN16 2HF

These financial statements were authorised for issue by the Board on 10 September 2024.

2

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 50 (2023 - 47).

 

Elite Care Solutions Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

100,000

100,000

At 31 March 2024

100,000

100,000

Amortisation

At 1 April 2023

100,000

100,000

At 31 March 2024

100,000

100,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

38,627

-

38,627

Additions

5,431

64,290

69,721

At 31 March 2024

44,058

64,290

108,348

Depreciation

At 1 April 2023

35,521

-

35,521

Charge for the year

1,636

214

1,850

At 31 March 2024

37,157

214

37,371

Carrying amount

At 31 March 2024

6,901

64,076

70,977

At 31 March 2023

3,106

-

3,106

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,127

6,208

Other debtors

348,762

348,462

 

358,889

354,670

 

Elite Care Solutions Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11,122

1,389

Taxation and social security

 

83,441

73,435

Accruals and deferred income

 

55,860

38,066

Other creditors

 

3,887

2,485

 

154,310

115,375

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

33,367

-

Creditors include hire purchase contracts of £44,490 (2023 - £Nil). These were secured against the assets purchased against the hire purchase agreement.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

9

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

Mrs R Buss and Mr S Buss

288,900

392,094

(345,400)

335,594

         
       

 

2023

At 1 April 2022
£

Advances to Director
£

Repayments by Director
£

At 31 March 2023
£

Mrs R Buss

Mrs R Buss and Mr S Buss

152,794

324,926

(188,820)

288,900