REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Eldercare (UK) Ltd. |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Eldercare (UK) Ltd. |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Eldercare (UK) Ltd. |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITOR: |
1-7 Station Road |
Crawley |
West Sussex |
RH10 1HT |
BANKERS: |
1 Carter Lane |
London |
EC4V 5AN |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium | 12 |
Capital redemption reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Eldercare (UK) Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Up until 30 June 2023 Eldercare (UK) Ltd was a wholly owned subsidiary of Doro Care (UK) Ltd. |
Careium AB is the smallest and largest group to consolidate Eldercare's financial statements. Copies of Careium AB financial statements for the year ended 31 December 2023 are publicly available and can be obtained from Jörgen Kocksgatan 1B, 211 20 Malmö, Sweden. |
Going concern |
At the time of approving the financial statements, the company had ceased to trade and are therefore not prepared on a going concern basis. All assets have been written down to their recoverable amounts and all potential liabilities provided for. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Tangible fixed assets |
Improvements to property - 25% to 33% straight line basis |
Fixtures and fittings - 15% to 33% straight line basis |
Motor Vehicles - 33% straight line basis |
Computer and office equipment - 20% to 33% straight line basis |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Introduction |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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. |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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 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. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | asset | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Computer |
Fixtures | and |
and | office |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Computer |
and |
office |
equipment |
£ |
COST |
At 1 January 2023 |
Transfer to ownership | (109,796 | ) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Transfer to ownership | (109,795 | ) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Finance leases (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Finance leases (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments under finance leases fall due as follows: |
Finance leases |
31.12.23 | 31.12.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows; |
2023 | 2022 |
£ | £ |
- | 159,295 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.23 | 31.12.22 |
£ | £ |
Finance leases | - | 37,441 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £0.01 | 1 | 188 |
Eldercare (UK) Ltd. (Registered number: 02163445) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
12. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 January 2023 | 1,187,338 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Group reorganisation | 207,847 | (207,591 | ) | (70 | ) | 186 |
At 31 December 2023 | - |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditor was unqualified. |
for and on behalf of |
14. | RELATED PARTY DISCLOSURES |
As a wholly owned subsidiary, the Company is exempt from the requirements of FRS 102 Para 33.4 to disclose related party transactions with other members of the Group headed by Careium AB on the grounds that the financial statements of that company are publicly available from Jörgen Kocksgatan 1B, 211 20 Malmö, Sweden. |