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REGISTERED NUMBER: 07652248 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RECARE LIMITED

RECARE LIMITED (REGISTERED NUMBER: 07652248)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


RECARE LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: R Holland-Oakes
Mrs T Holland-Oakes
J A Holland-Oakes
Mrs K L Cripps





REGISTERED OFFICE: 13 Lodge Road
Hanborough Business Park
Long Hanborough
Oxfordshire
OX29 8LJ





REGISTERED NUMBER: 07652248 (England and Wales)





ACCOUNTANTS: IJC Accounting & Taxation Services Limited
Chartered Certified Accountants
4 Centenary Road
Middleton Cheney
Nr Banbury
Northamptonshire
OX17 2SJ

RECARE LIMITED (REGISTERED NUMBER: 07652248)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,495 6,707
Tangible assets 6 254,717 296,868
259,212 303,575

CURRENT ASSETS
Stocks 479,124 417,693
Debtors 329,128 257,608
Cash at bank and in hand 70,151 54,432
878,403 729,733
CREDITORS
Amounts falling due within one year 951,179 808,222
NET CURRENT LIABILITIES (72,776 ) (78,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,436

225,086

CREDITORS
Amounts falling due after more than one
year

(145,367

)

(176,802

)

PROVISIONS FOR LIABILITIES 7 (38,759 ) (44,907 )
NET ASSETS 2,310 3,377

CAPITAL AND RESERVES
Called up share capital 8 3,000 3,000
Retained earnings (690 ) 377
SHAREHOLDERS' FUNDS 2,310 3,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RECARE LIMITED (REGISTERED NUMBER: 07652248)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2024 and were signed on its behalf by:





R Holland-Oakes - Director


RECARE LIMITED (REGISTERED NUMBER: 07652248)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Recare 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced mobility and rehabilitation consultancy services, and retail sales and servicing of associated products, excluding value added tax.

Web site
Web site is being amortised at 33% on reducing balance.

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.
Improvements to Property - in accordance with the property
Plant & Equipment - 15% on reducing balance
Fixtures & Fittings - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Office Equipment - 33% on reducing balance

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

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 statement of financial position date.


RECARE LIMITED (REGISTERED NUMBER: 07652248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors do not consider there are any matters which currently exist that would adversely affect the company's ability to continue to trade. Accordingly, the financial statements have been prepared on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 18 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 61,270
AMORTISATION
At 1 January 2023 54,563
Amortisation for year 2,212
At 31 December 2023 56,775
NET BOOK VALUE

At 31 December 2023 4,495
At 31 December 2022 6,707

RECARE LIMITED (REGISTERED NUMBER: 07652248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 685,742
Additions 36,975
Disposals (88,513 )
At 31 December 2023 634,204
DEPRECIATION
At 1 January 2023 388,874
Charge for year 64,377
Eliminated on disposal (73,764 )
At 31 December 2023 379,487
NET BOOK VALUE
At 31 December 2023 254,717
At 31 December 2022 296,868

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 308,734
Additions 36,525
Transfer to ownership (55,267 )
At 31 December 2023 289,992
DEPRECIATION
At 1 January 2023 158,532
Charge for year 42,463
Transfer to ownership (37,786 )
At 31 December 2023 163,209
NET BOOK VALUE
At 31 December 2023 126,783
At 31 December 2022 150,202

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 38,759 44,907

RECARE LIMITED (REGISTERED NUMBER: 07652248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 44,907
Credit to Income Statement during year (6,148 )
Balance at 31 December 2023 38,759

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2,550 Ordinary A £1 2,550 2,550
450 Ordinary B, C, D £1 450 450
3,000 3,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
J A Holland-Oakes
Balance outstanding at start of year 6,000 15,188
Amounts advanced - 6,000
Amounts repaid (6,000 ) (15,188 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,000

R Holland-Oakes
Balance outstanding at start of year 6,000 24,498
Amounts advanced - 3,729
Amounts repaid (6,000 ) (22,227 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,000

Mrs T Holland-Oakes
Balance outstanding at start of year 6,000 12,585
Amounts advanced - 6,000
Amounts repaid (6,000 ) (12,585 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,000

RECARE LIMITED (REGISTERED NUMBER: 07652248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The outstanding Director Loan Balances were repaid on 18th January 2023.

10. ULTIMATE CONTROLLING PARTY

By virtue of their shareholding, R Holland-Oakes, T Holland-Oakes and J Holland-Oakes are the ultimate controlling parties of the company.