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Fine Homecare Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11008359
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,167 5,167
Tangible Assets 5 12,478 18,501
15,645 23,668
CURRENT ASSETS
Debtors 6 177,988 182,030
Cash at bank and in hand 16,783 75,680
194,771 257,710
Creditors: Amounts Falling Due Within One Year 7 (128,477 ) (152,809 )
NET CURRENT ASSETS (LIABILITIES) 66,294 104,901
TOTAL ASSETS LESS CURRENT LIABILITIES 81,939 128,569
Creditors: Amounts Falling Due After More Than One Year 8 (15,000 ) (25,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,850 ) (3,927 )
NET ASSETS 64,089 99,642
CAPITAL AND RESERVES
Called up share capital 9 1 1
Income Statement 64,088 99,641
SHAREHOLDERS' FUNDS 64,089 99,642
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
S J Daly
Director
C J Daly
Director
10 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fine Homecare Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11008359 . The registered office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
The presentation currency of the financial statements is the Pound Sterling (£). 
Due to the aligning of the company's accounting period end with that of the groups, the prior period was shorter than 12 months, therefore comparatves are not directly comparable.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises revenue recognised by the company in respect of services supplied during the year, and is recognised on a work done basis.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
The franchise fees paid to Home Instead Senior Care (UK) Limited, are amortised over the period of the franchise agreement.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 
Franchise fee - 33% on straight line basis
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Computer Equipment 33% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of 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 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.
...CONTINUED
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2.6. Taxation - continued
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 period 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Grant income is recognised on an accruals basis. Grants which relate to revenue are recognised in income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to cover.
3. Average Number of Employees
Average number of employees during the year was: 33 (2022: 37)
33 37
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 53,400
As at 31 December 2023 53,400
Amortisation
As at 1 January 2023 48,233
Provided during the period 2,000
As at 31 December 2023 50,233
Net Book Value
As at 31 December 2023 3,167
As at 1 January 2023 5,167
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 6,693 20,135 26,828
Additions - 2,642 2,642
Disposals - (10,365 ) (10,365 )
As at 31 December 2023 6,693 12,412 19,105
Depreciation
As at 1 January 2023 541 7,786 8,327
Provided during the period 1,286 6,919 8,205
Disposals - (9,905 ) (9,905 )
As at 31 December 2023 1,827 4,800 6,627
...CONTINUED
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Net Book Value
As at 31 December 2023 4,866 7,612 12,478
As at 1 January 2023 6,152 12,349 18,501
6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 76,513 93,184
Amounts owed by group undertakings 69,924 69,924
Other debtors 31,551 18,922
177,988 182,030
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 26,489 16,372
Bank loans and overdrafts 10,001 10,000
Amounts owed to group undertakings 7,160 19,401
Other creditors 58,475 50,449
Taxation and social security 26,352 56,587
128,477 152,809
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Bank loans 15,000 25,000
9. Share Capital
31 December 2023 31 December 2022
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
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Page 6
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2023 31 December 2022
£ £
Not later than one year 49,500 -
Later than one year and not later than five years - 140,250
49,500 140,250
11. Ultimate Controlling Party
The company's ultimate controlling party is M&T Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.
Page 6