REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PROMEDICA24 (LANCASHIRE) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PROMEDICA24 (LANCASHIRE) LIMITED |
PROMEDICA24 (LANCASHIRE) LIMITED (REGISTERED NUMBER: 09167963) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PROMEDICA24 (LANCASHIRE) LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
PROMEDICA24 (LANCASHIRE) LIMITED (REGISTERED NUMBER: 09167963) |
ABRIDGED BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROMEDICA24 (LANCASHIRE) LIMITED (REGISTERED NUMBER: 09167963) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Promedica24 (Lancashire) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of 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. |
The financial statements have been prepared on a going concern basis, which the directors consider to be appropriate, as the parent undertaking has agreed to provided the necessary finance to enable the company to meet its liabilities as they fall due. |
Turnover |
Turnover is measured at the fair value of care services provided during the year, net of value added tax and adjusted for accrued and deferred income. |
The company provides varying levels of ongoing live-in care services and raises invoices for these services based on pre agreed weekly rates. As such, fair value reflects amounts invoiced during the year plus amounts expected to be recovered from clients in respect of services provided at the balance sheet date which has not yet been invoiced to clients. |
Intragroup recharges |
Costs incurred by UK based group companies which relate to the UK based operation are shared among all UK based trading companies by way of a monthly recharge. These are split between 'Cost of sales' and 'Administrative expenses' depending on the nature of the cost recharged. |
The recharges are calculated based on the turnover of each individual company as a percentage of the total turnover of all UK trading companies, in line with a formula which is defined in the intercompany agreement. At the end of the year, Management reserve the right to make an adjustment to the recharge to ensure that the costs in each company are in line with its turnover. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Fixtures and fittings | - | 20% on cost |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
Taxation |
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits. |
Current tax assets and liabilities are not discounted and are 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
PROMEDICA24 (LANCASHIRE) LIMITED (REGISTERED NUMBER: 09167963) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 31 December 2023 |
DEPRECIATION |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
6. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
At the balance sheet date, the amounts owed to group to group companies amounted to £795,279 (2022 - 965,698). This amount is included in 'Amounts owed to group undertakings'. |
7. | ULTIMATE PARENT UNDERTAKING |
The ultimate parent undertaking is PineBridge New Europe Partners II-A, L.P., a company registered in the state of Cayman Islands. The parent's business and mailing address is 399 Park Avenue, 4th Floor, New York, NY, 10022. |