IRIS Accounts Production
v24.1.4.33
07652248
Board of Directors
1.1.23
31.12.23
31.12.23
false
true
false
false
false
true
false
Ordinary A
1.00000
Ordinary B, C, D
1.00000
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REGISTERED NUMBER: 07652248 (England and Wales) |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
|
Abridged Statement of Financial Position |
2 |
|
|
Notes to the Financial Statements |
4 |
|
|
DIRECTORS: |
R Holland-Oakes |
|
REGISTERED OFFICE: |
13 Lodge Road |
|
REGISTERED NUMBER: |
07652248 (England and Wales) |
|
ACCOUNTANTS: |
IJC Accounting & Taxation Services Limited |
|
Chartered Certified Accountants |
Intangible assets |
5 |
4,495 |
|
6,707 |
|
|
Tangible assets |
6 |
254,717 |
|
296,868 |
|
|
Cash at bank and in hand |
70,151 |
|
54,432 |
|
|
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 |
|
|
Amounts falling due after more than one year |
(145,367 |
) |
(176,802 |
) |
|
PROVISIONS FOR LIABILITIES |
7 |
(38,759 |
) |
(44,907 |
) |
|
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. |
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 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. |
|
Basis of preparing the financial statements |
|
The financial statements have been prepared under the historical cost convention. |
|
Turnover represents net invoiced mobility and rehabilitation consultancy services, and retail sales and servicing of associated products, excluding value added tax. |
| Web site is being amortised at 33% on reducing balance. |
|
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 are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| 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. |
|
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 |
|
and 31 December 2023 |
61,270 |
|
|
|
Amortisation for year |
2,212 |
|
|
|
At 31 December 2023 |
56,775 |
|
|
|
At 31 December 2023 |
4,495 |
|
|
|
At 31 December 2022 |
6,707 |
|
|
|
At 1 January 2023 |
685,742 |
|
|
|
At 31 December 2023 |
634,204 |
|
|
|
At 1 January 2023 |
388,874 |
|
|
|
Eliminated on disposal |
(73,764 |
) |
|
|
At 31 December 2023 |
379,487 |
|
|
|
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: |
|
At 1 January 2023 |
308,734 |
|
|
|
Transfer to ownership |
(55,267 |
) |
|
|
At 31 December 2023 |
289,992 |
|
|
|
At 1 January 2023 |
158,532 |
|
|
|
Transfer to ownership |
(37,786 |
) |
|
|
At 31 December 2023 |
163,209 |
|
|
|
At 31 December 2023 |
126,783 |
|
|
|
At 31 December 2022 |
150,202 |
|
|
7. |
PROVISIONS FOR LIABILITIES |
|
Deferred tax |
38,759 |
|
44,907 |
|
|
|
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 |
|
2,550 |
Ordinary A |
£1 |
2,550 |
|
2,550 |
|
|
|
450 |
Ordinary B, C, D |
£1 |
450 |
|
450 |
|
|
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: |
|
Balance outstanding at start of year |
6,000 |
|
15,188 |
|
|
|
Amounts repaid |
(6,000 |
) |
(15,188 |
) |
|
|
Balance outstanding at end of year |
- |
|
6,000 |
|
|
|
Balance outstanding at start of year |
6,000 |
|
24,498 |
|
|
|
Amounts repaid |
(6,000 |
) |
(22,227 |
) |
|
|
Balance outstanding at end of year |
- |
|
6,000 |
|
|
|
Balance outstanding at start of year |
6,000 |
|
12,585 |
|
|
|
Amounts repaid |
(6,000 |
) |
(12,585 |
) |
|
|
Balance outstanding at end of year |
- |
|
6,000 |
|
|
| 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. |