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REGISTERED NUMBER: 04157152 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements For The Year Ended 31st March 2024

for

Expert Property Care Limited

Expert Property Care Limited (Registered number: 04157152)






Contents of the Consolidated Financial Statements
For The Year Ended 31st March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


Expert Property Care Limited

Company Information
For The Year Ended 31st March 2024







DIRECTORS: S J Edwards
S S R MacDonald
S C Turner
Mrs K L Macdonald
Ms D Braxton





SECRETARY: Mrs K L Macdonald





REGISTERED OFFICE: 1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX





REGISTERED NUMBER: 04157152 (England and Wales)





AUDITORS: Dua & Co Limited
Chartered Accountants & Registered Auditors
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

Expert Property Care Limited (Registered number: 04157152)

Group Strategic Report
For The Year Ended 31st March 2024

The directors present their strategic report of the company and the group for the year ended 31st March 2024.

REVIEW OF BUSINESS
Expert Property Care Limited caters to property repairs catering exclusively with reputed Insurance companies, Claim Handlers, and City Councils as an accredited and authorised property repairs and maintenance contractor. It receives various jobs (from time to time) regularly and it undertakes these jobs in a timely and efficient manner, and the customers through the insurance companies & others then will pay for the completed assignments. Depending on the type of the job, the company uses either its own employees and tradesmen or appoints from its panel of sub-contractors however overseeing the jobs at all points in time. The Group has created a unique proprietary technology-controlled project management schedule which monitors all the jobs in real time thus ensuring continuous turnaround of jobs. The Group has been in operation for over 23 years since its incorporation in Feb 2001 and is one of UK's leading contractors for insurance companies and claim agents.

The Group has earned a revenue of £11.4m (2023: £10.4m), EBITDA of £ 0.86m (2023: £6,658). The Group has strategically refocused its business operation which led to deliberate reduction in certain areas to pave the way for sustainable growth and enhanced profitability in the coming year.The company has had a successful turn-around from a near break-even to earning a positive EBITDA of £0.86 mil and net cash flow from operations of £740,198.

PRINCIPAL RISKS AND UNCERTAINTIES
A number of potential risks and uncertainties could have a significant impact on the Group's performance and could cause actual results to differ materially from those budgeted, expected, and historical results. The principal business risks that the Group faces are the competitive nature of the marketplace and credit risk.

Many firms suggested that the high prices for construction materials meant some repair and maintenance projects were being put on hold, whether temporarily or permanently. In contrast, some new projects were continuing as costings were agreed prior to the recent price increases, and as such the construction firms were having to absorb these.

There are still bumps in the road to be negotiated. The cost of construction remains high and further volatility over the medium term can be expected as factors such as Russia's invasion of Ukraine and the energy crisis bite harder. "And despite the increase seen in private investment, the risk of recession and high interest rates do cause risks and uncertainties.

FINANCIAL & NON-FINANCIAL KEY PERFORMANCE INDICATORS
The Company's key performance indicators are considered to be, revenue, control on its margins & overheads and Liquidity.

- The company anticipates additional revenues due to its market strategies of getting new customers.

- The company has improved its margins and expects margins to improve by using better operational control on jobs by:
o setting up profit-centre teams for better control of operations
o better control on jobs by introducing financial planning and budgets controlled on real-time by improved technology

The first three-month performance has shown improvement of margins.

- The company has reduced its overhead costs during the three months thus earning EBITDA and plans to control its overheads.

- The company is moving to new customers who have better payment terms thus improving liquidity and has engaged in better financial discipline with strengthening its key management in finance.


Expert Property Care Limited (Registered number: 04157152)

Group Strategic Report
For The Year Ended 31st March 2024

STATEMENT OF COMPLIANCE WIITH DUTY TO PROMOTE THE SUCCESS OF THE COMPANY
The Directors of the Company, as those of all UK companies, must act in accordance with a set of general duties. These duties are detailed in section 172 of the UK Companies Act 2006 and include a duty to promote the success of the Company, which is summarised below:
The executive Directors meet regularly to discuss their duties and they can access professional advice on these - either through the Company, or if they judge it necessary, from an independent provider.

The Directors fulfil their duties partly through a governance framework that delegates day-to-day decision making to employees of the Company. The Board recognises that such delegation needs to extend beyond more than simple financial authorities, and therefore set out below we have summarised how the Directors fulfil their on-going operational duties:

Our People
The company is committed to being a responsible business. Our behaviour is aligned with the expectations of our people, clients, investors, communities, and society as a whole. For our business to succeed we need to manage our people's performance and develop and bring through talent while ensuring we operate as efficiently as possible. We must ensure common values that inform and guide our behaviour, so we achieve our goals in the right way.

Business relationships
Our strategy prioritises organic growth, to achieve this we need to develop and maintain strong client relationships. We value all our clients and suppliers and in line with our business culture endeavour to always act with integrity.

Community and environment
The Company approach is to use our position of strength to create positive change for the people and communities with which we interact.

ON BEHALF OF THE BOARD:





S J Edwards - Director


18th September 2024

Expert Property Care Limited (Registered number: 04157152)

Report of the Directors
For The Year Ended 31st March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of Development of building projects

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £144,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

S J Edwards
S S R MacDonald
S C Turner
Mrs K L Macdonald

Other changes in directors holding office are as follows:

Ms D Braxton - appointed 26th June 2023

POLITICAL DONATIONS AND EXPENDITURE
During the year a political donations of £985 were made. All donations related to charitable causes.

STREAMLINED ENERGY AND CARBON REPORTING
The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Dua & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S J Edwards - Director


18th September 2024

Report of the Independent Auditors to the Members of
Expert Property Care Limited

Opinion
We have audited the financial statements of Expert Property Care Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Expert Property Care Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management;

- the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management, about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the management that represented a risk of material misstatement due to fraud.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, Financial Conduct Authority regulations and relevant tax legislation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Expert Property Care Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Rakesh Kumar Dua (Senior Statutory Auditor)
for and on behalf of Dua & Co Limited
Chartered Accountants & Registered Auditors
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

18th September 2024

Expert Property Care Limited (Registered number: 04157152)

Consolidated Income Statement
For The Year Ended 31st March 2024

2024 2023
Notes £    £   

TURNOVER 3 11,450,250 10,438,197

Cost of sales (8,263,160 ) (7,952,635 )
GROSS PROFIT 3,187,090 2,485,562

Administrative expenses (2,338,993 ) (2,864,978 )
OPERATING PROFIT/(LOSS) 5 848,097 (379,416 )

Interest receivable and similar income 1,514 -
849,611 (379,416 )

Interest payable and similar expenses 7 (254,038 ) (239,702 )
PROFIT/(LOSS) BEFORE TAXATION 595,573 (619,118 )

Tax on profit/(loss) 8 (132,315 ) 116,232
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 463,258 (502,886 )
Profit/(loss) attributable to:
Owners of the parent 463,258 (502,886 )

Expert Property Care Limited (Registered number: 04157152)

Consolidated Other Comprehensive Income
For The Year Ended 31st March 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 463,258 (502,886 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 463,258 (502,886 )

Total comprehensive income attributable to:
Owners of the parent 463,258 (502,886 )

Expert Property Care Limited (Registered number: 04157152)

Consolidated Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 288,230 326,081
Tangible assets 12 679,784 1,264,005
Investments 13 - -
968,014 1,590,086

CURRENT ASSETS
Stocks 14 297,472 276,606
Debtors 15 3,713,283 3,525,926
Cash at bank 143,448 94,964
4,154,203 3,897,496
CREDITORS
Amounts falling due within one year 16 4,077,394 4,413,506
NET CURRENT ASSETS/(LIABILITIES) 76,809 (516,010 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,044,823 1,074,076

CREDITORS
Amounts falling due after more than one year 17 (66,258 ) (464,117 )

PROVISIONS FOR LIABILITIES 21 (217,557 ) (168,209 )
NET ASSETS 761,008 441,750

CAPITAL AND RESERVES
Called up share capital 22 204 204
Retained earnings 23 760,804 441,546
SHAREHOLDERS' FUNDS 761,008 441,750

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2024 and were signed on its behalf by:





S J Edwards - Director


Expert Property Care Limited (Registered number: 04157152)

Company Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 288,230 326,081
Tangible assets 12 679,784 1,264,005
Investments 13 100 100
968,114 1,590,186

CURRENT ASSETS
Stocks 14 297,472 276,606
Debtors 15 3,858,207 3,525,926
Cash at bank 102,496 94,964
4,258,175 3,897,496
CREDITORS
Amounts falling due within one year 16 4,194,217 4,413,606
NET CURRENT ASSETS/(LIABILITIES) 63,958 (516,110 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,032,072 1,074,076

CREDITORS
Amounts falling due after more than one year 17 (66,258 ) (464,117 )

PROVISIONS FOR LIABILITIES 21 (217,557 ) (168,209 )
NET ASSETS 748,257 441,750

CAPITAL AND RESERVES
Called up share capital 22 204 204
Retained earnings 23 748,053 441,546
SHAREHOLDERS' FUNDS 748,257 441,750

Company's profit/(loss) for the financial year 450,507 (502,886 )

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2024 and were signed on its behalf by:





S J Edwards - Director


Expert Property Care Limited (Registered number: 04157152)

Consolidated Statement of Changes in Equity
For The Year Ended 31st March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st April 2022 204 1,104,432 1,104,636

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - (502,886 ) (502,886 )
Balance at 31st March 2023 204 441,546 441,750

Changes in equity
Dividends - (144,000 ) (144,000 )
Total comprehensive income - 463,258 463,258
Balance at 31st March 2024 204 760,804 761,008

Expert Property Care Limited (Registered number: 04157152)

Company Statement of Changes in Equity
For The Year Ended 31st March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st April 2022 204 1,104,432 1,104,636

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - (502,886 ) (502,886 )
Balance at 31st March 2023 204 441,546 441,750

Changes in equity
Dividends - (144,000 ) (144,000 )
Total comprehensive income - 450,507 450,507
Balance at 31st March 2024 204 748,053 748,257

Expert Property Care Limited (Registered number: 04157152)

Consolidated Cash Flow Statement
For The Year Ended 31st March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 601,223 802,199
Interest paid (91,922 ) (129,285 )
Interest element of hire purchase or finance lease
rental payments paid

(162,116

)

(110,417

)
Tax paid 100,127 (72,429 )
Net cash from operating activities 447,312 490,068

Cash flows from investing activities
Purchase of intangible fixed assets (2,599 ) (215,789 )
Purchase of tangible fixed assets (48,077 ) (10,336 )
Sale of tangible fixed assets 614,936 114,208
Interest received 1,514 -
Net cash from investing activities 565,774 (111,917 )

Cash flows from financing activities
Loan repayments in year (62,500 ) (62,500 )
Other Loan repayment in year (556,872 ) (567,039 )
Amount introduced by directors - 30,000
Amount withdrawn by directors (36,000 ) -
Increase /(Decrease) in Trade Finance (65,363 ) 399,481
HP repayment in year (99,867 ) (139,118 )
Equity dividends paid (144,000 ) (160,000 )
Net cash from financing activities (964,602 ) (499,176 )

Increase/(decrease) in cash and cash equivalents 48,484 (121,025 )
Cash and cash equivalents at beginning of year 2 94,964 215,989

Cash and cash equivalents at end of year 2 143,448 94,964

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 31st March 2024

1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit/(loss) before taxation 595,573 (619,118 )
Depreciation charges 283,637 390,566
Profit on disposal of fixed assets (225,824 ) (32,971 )
Finance costs 254,038 239,702
Finance income (1,514 ) -
905,910 (21,821 )
Decrease/(increase) in stocks 166,262 (253,652 )
(Increase)/decrease in trade and other debtors (368,485 ) 826,890
(Decrease)/increase in trade and other creditors (102,464 ) 250,782
Cash generated from operations 601,223 802,199

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 143,448 94,964
Year ended 31st March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 94,964 215,989


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 94,964 48,484 143,448
94,964 48,484 143,448
Debt
Debts falling due within 1 year (1,766,661 ) 104,915 (1,661,746 )
Debts falling due after 1 year (189,072 ) 122,814 (66,258 )
(1,955,733 ) 227,729 (1,728,004 )
Total (1,860,769 ) 276,213 (1,584,556 )

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements
For The Year Ended 31st March 2024

1. STATUTORY INFORMATION

Expert Property Care Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Expert Property Care Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.

Going concern

In assessing the appropriateness of the going concern assumption, the Directors have reviewed detailed profit and loss forecasts and cash flow forecasts for the Group, considering all reasonably foreseeable potential scenarios and uncertainties in relation to revenue and expenditure for a period of at least 12 months from the date these financial statements have been signed.

Based on these forecasts, the Directors have a reasonable expectation that the Group can meet its liabilities as they fall due and the Directors have therefore concluded that it is appropriate to prepare the financial statements on the going concern basis.

Turnover
In order to determine the profit and loss, the Group is able to recognise its repair contracts in a specific period, and the Group has to allocate the total costs of the repair contracts between the proportion completed in the period and the proportion to be completed in the future period. The Group's revenue and cost recognition policies require forecasts to be made of the outcomes of its contracts, which are generally short term in nature and are hence determinable to be completed.

The assessment of the final contract value and the total costs incurred requires a degree of estimation. The final contract value recognised includes assessments of the recovery of variations, which have yet to be agreed with the clients, compensation and claims, where these meet the criteria, and set out in the company's accounting policies and are in accordance with Revenue from Contract with Customers.

The fundamental principle is that the revenue from contracts with customers reflect:
- The rate at which performance obligations are fulfilled, and the extent costs are incurred on a job
- The amount to which the company expects to be entitled as consideration of its activities

The way of transfer or control of good or service is analysed is crucial, since that transfer determines the recognition of revenue. The transfer of good or service may take place continuously and revenue is recognised on a progress towards completion basis. In view of the main activity of the business, being repair, construction and service contracts, involves one performance obligation and is fulfilled progressively.

The Group allocates the overall price of the contract to each performance obligation and the price corresponds to the amount of consideration to which it expects to be entitled. To measure progress towards completion of repair and service contracts, the company uses a method based on proportion of costs incurred on a job, and its margin on the costs that it estimates to earn to determine the amount of consideration to which it expects to be entitled.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 6.67 years.

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stock and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress are computed as percentage of cost for the jobs in progress at the year end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable on contract
Amounts recoverable on contract include the amount by which recorded turnover is in excess of payments on account and is disclosed within other debtors. Amounts included within revenue is the amount of income earned on contracts at the balance sheet date.

Impairment
The assets are tested for impairment at least annually, or more frequently when there is an indication that the carrying amount may be impaired. If the recoverable amount of asset is less than the carrying amount, the impairment loss is recognised in the profit and loss account.

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 11,450,250 10,438,197
11,450,250 10,438,197

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts,settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed ot the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,729,506 4,487,963
Social security costs 376,961 498,033
Other pension costs 75,564 102,371
4,182,031 5,088,367

The average number of employees during the year was as follows:
2024 2023

Management Staff 15 17
Maintenance Staff 56 82
Admin Staff 31 24
102 123

The average number of employees by undertakings that were proportionately consolidated during the year was 102 (2023 - 123 ) .

2024 2023
£    £   
Directors' remuneration 222,130 196,088
Directors' pension contributions to money purchase schemes 865 694

Information regarding the highest paid director for the year ended 31st March 2024 is as follows:
2024
£   
Emoluments etc 61,950

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 85,994 67,366
Depreciation - assets on hire purchase contracts or finance leases 157,192 284,208
Profit on disposal of fixed assets (225,824 ) (32,971 )
Goodwill amortisation 9,750 9,750
Computer software amortisation 30,700 29,241

6. AUDITORS' REMUNERATION

Auditors remuneration for the year £20,750 (2023: £17,500)

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest (281 ) 4,953
Interest on late paid tax 19,704 102
Other interest and charges 30,551 85,150
Loan facility fee 41,948 39,080
Hire purchase 162,116 110,417
254,038 239,702

8. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 82,967 -

Deferred tax 49,348 (116,232 )
Tax on profit/(loss) 132,315 (116,232 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit/(loss) before tax 595,573 (619,118 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 19
%)

148,893

(117,632

)

Effects of:
Expenses not deductible for tax purposes 3,598 2,326
Capital allowances in excess of depreciation - (7,133 )
Depreciation in excess of capital allowances 205,312 -
Utilisation of tax losses (178,550 ) -
Profit on disposal of assets (56,456 ) (6,295 )
VAT Surcharge 9,518 12,502
Total tax charge/(credit) 132,315 (116,232 )

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
Ordinary A. shares of £1 each
Final 144,000 160,000

11. INTANGIBLE FIXED ASSETS

Group
Patents
and Computer
Goodwill licences software Totals
£    £    £    £   
COST
At 1st April 2023 65,000 20,000 306,572 391,572
Additions - - 2,599 2,599
At 31st March 2024 65,000 20,000 309,171 394,171
AMORTISATION
At 1st April 2023 36,250 - 29,241 65,491
Amortisation for year 9,750 - 30,700 40,450
At 31st March 2024 46,000 - 59,941 105,941
NET BOOK VALUE
At 31st March 2024 19,000 20,000 249,230 288,230
At 31st March 2023 28,750 20,000 277,331 326,081

Company
Patents
and Computer
Goodwill licences software Totals
£    £    £    £   
COST
At 1st April 2023 65,000 20,000 306,572 391,572
Additions - - 2,599 2,599
At 31st March 2024 65,000 20,000 309,171 394,171
AMORTISATION
At 1st April 2023 36,250 - 29,241 65,491
Amortisation for year 9,750 - 30,700 40,450
At 31st March 2024 46,000 - 59,941 105,941
NET BOOK VALUE
At 31st March 2024 19,000 20,000 249,230 288,230
At 31st March 2023 28,750 20,000 277,331 326,081

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

12. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 1,627,347 31,306 120,673 202,950 1,982,276
Additions 6,026 1,388 - 40,663 48,077
Disposals (671,980 ) - (12,500 ) - (684,480 )
At 31st March 2024 961,393 32,694 108,173 243,613 1,345,873
DEPRECIATION
At 1st April 2023 534,474 17,658 37,592 128,547 718,271
Charge for year 166,893 2,869 16,088 57,336 243,186
Eliminated on disposal (288,033 ) - (7,335 ) - (295,368 )
At 31st March 2024 413,334 20,527 46,345 185,883 666,089
NET BOOK VALUE
At 31st March 2024 548,059 12,167 61,828 57,730 679,784
At 31st March 2023 1,092,873 13,648 83,081 74,403 1,264,005

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 1,423,859 108,793 1,532,652
Disposals (671,980 ) (12,500 ) (684,480 )
Reclassification/transfer (36,550 ) (27,566 ) (64,116 )
At 31st March 2024 715,329 68,727 784,056
DEPRECIATION
At 1st April 2023 435,360 33,474 468,834
Charge for year 143,726 13,466 157,192
Eliminated on disposal (288,033 ) (7,335 ) (295,368 )
Reclassification/transfer (17,438 ) (14,863 ) (32,301 )
At 31st March 2024 273,615 24,742 298,357
NET BOOK VALUE
At 31st March 2024 441,714 43,985 485,699
At 31st March 2023 988,499 75,319 1,063,818

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

12. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 1,627,347 31,306 120,673 202,950 1,982,276
Additions 6,026 1,388 - 40,663 48,077
Disposals (671,980 ) - (12,500 ) - (684,480 )
At 31st March 2024 961,393 32,694 108,173 243,613 1,345,873
DEPRECIATION
At 1st April 2023 534,474 17,658 37,592 128,547 718,271
Charge for year 166,893 2,869 16,088 57,336 243,186
Eliminated on disposal (288,033 ) - (7,335 ) - (295,368 )
At 31st March 2024 413,334 20,527 46,345 185,883 666,089
NET BOOK VALUE
At 31st March 2024 548,059 12,167 61,828 57,730 679,784
At 31st March 2023 1,092,873 13,648 83,081 74,403 1,264,005

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 1,423,859 108,793 1,532,652
Disposals (671,980 ) (12,500 ) (684,480 )
Reclassification/transfer (36,550 ) (27,566 ) (64,116 )
At 31st March 2024 715,329 68,727 784,056
DEPRECIATION
At 1st April 2023 435,360 33,474 468,834
Charge for year 143,726 13,466 157,192
Eliminated on disposal (288,033 ) (7,335 ) (295,368 )
Reclassification/transfer (17,438 ) (14,863 ) (32,301 )
At 31st March 2024 273,615 24,742 298,357
NET BOOK VALUE
At 31st March 2024 441,714 43,985 485,699
At 31st March 2023 988,499 75,319 1,063,818

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st April 2023
and 31st March 2024 100
NET BOOK VALUE
At 31st March 2024 100
At 31st March 2023 100


14. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Stocks and work in progress 297,472 276,606 297,472 276,606

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,742,223 2,313,472 2,671,720 2,313,472
Amounts recoverable on contract 865,397 1,052,525 1,080,824 1,052,525
Other debtors 50,432 74,466 50,432 74,466
Directors' current accounts 6,000 - 6,000 -
Prepayments and accrued income 49,231 85,463 49,231 85,463
3,713,283 3,525,926 3,858,207 3,525,926

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade Finance Provider (see note 18) 1,538,932 1,604,294 1,538,932 1,604,294
Bank loans and overdrafts (see note 18) 62,500 62,500 62,500 62,500
Other loans (see note 18) 60,314 99,867 60,314 99,867
Trade creditors 900,185 526,563 895,743 526,563
Amounts owed to group undertakings - - 222,203 100
Tax 110,666 (72,428 ) 109,075 (72,428 )
Social security and other taxes 265,493 1,108,901 265,493 1,108,901
Pension payable 57,066 40,848 57,066 40,848
VAT 763,594 434,690 665,747 434,690
Hire purchase 265,564 547,391 265,564 547,391
Directors' current accounts - 30,000 - 30,000
Accrued expenses 53,080 30,880 51,580 30,880
4,077,394 4,413,506 4,194,217 4,413,606

The amounts held in Trade Finance Provider of £1,538,932 (2023:1,604,294) relates to amount due to UK Working Capital Ltd. These are secured by way of a legal debenture over the book debts.

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 18) 20,833 83,333 20,833 83,333
Other loans (see note 18) 45,425 105,739 45,425 105,739
Hire purchase - 275,045 - 275,045
66,258 464,117 66,258 464,117

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Factoring Facility 1,538,932 1,604,294 1,538,932 1,604,294
Bank loans 62,500 62,500 62,500 62,500
Other loans 60,314 99,867 60,314 99,867
1,661,746 1,766,661 1,661,746 1,766,661
Amounts falling due between one and two years:
Bank loans - 1-2 years 20,833 62,500 20,833 62,500
Other loans - 1-2 years 16,694 61,167 16,694 61,167
37,527 123,667 37,527 123,667
Amounts falling due between two and five years:
Bank loans - 2-5 years - 20,833 - 20,833
Other loans - 2-5 years 28,731 44,572 28,731 44,572
28,731 65,405 28,731 65,405

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 106,590 106,590
Between one and five years 243,860 350,450
350,450 457,040

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade Finance Provider 1,538,932 1,604,294 1,538,932 1,604,294
Bank loans 83,333 145,833 83,333 145,833
Other loans 105,739 205,606 105,739 205,606
Hire purchase 265,564 822,436 265,564 822,436
1,993,568 2,778,169 1,993,568 2,778,169

The factoring facility with UK Working Capital Limited is secured by a fixed and floating charge over all property and assets of the Company, including present and future.

The CBILS bank loan received from HSBC is secured by a fixed and floating charge over all property and assets of the company and personally guaranteed by Mr S Edwards who is the director of the company.

The hire purchase liabilities are secured on the assets they relate to.

The Director has given a Personal Guarantee on various loans taken by the Company and the facilities secured by personal guarantee are £105,738 (2023:£205,606)

21. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 217,557 168,209 217,557 168,209

Group
Deferred
tax
£   
Balance at 1st April 2023 168,209
Utilised during year 49,348
Balance at 31st March 2024 217,557

Company
Deferred
tax
£   
Balance at 1st April 2023 168,209
Utilised during year 49,348
Balance at 31st March 2024 217,557

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary A. £1 - 100
NIL Ordinary B £1 - 104
204,000 Ordinary A 0.1p 204 -
204 204

Expert Property Care Limited (Registered number: 04157152)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2024

22. CALLED UP SHARE CAPITAL - continued

On 2nd October 2023, the company reclassified the existing £1 Ordinary B Share to £1 Ordinary A Share and then the nominal value of Ordinary A Share were sub-dividend from £1 to £0.001 per share.

Additionally the company has issued an EMI options to senior and key executives as part of its strategy for employee incentives enabling the growth of the business.

23. RESERVES

Group
Retained
earnings
£   

At 1st April 2023 441,546
Profit for the year 463,258
Dividends (144,000 )
At 31st March 2024 760,804

Company
Retained
earnings
£   

At 1st April 2023 441,546
Profit for the year 450,507
Dividends (144,000 )
At 31st March 2024 748,053