Company registration number 12641420 (England and Wales)
CARE IS CENTRAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CARE IS CENTRAL LIMITED
COMPANY INFORMATION
Directors
Ms Lorna Carver
Mr Andrew Sharp
Mr Mark Smith
(Appointed 16 October 2023)
Mr Steven Watkins
(Appointed 16 October 2023)
Mr Robert Templeton
(Appointed 12 February 2024)
Mr Joshua Taee
Ms Susan Putters
Secretary
Mrs Elaine Bradbury
Company number
12641420
Registered office
Unit 10 Bury Farm Mill Lane
Stotfold
Hitchin
SG5 4NY
Auditor
MMBA London Ltd
16 Upper Woburn Place
Kings Cross
London
WC1H 0AF
CARE IS CENTRAL LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
CARE IS CENTRAL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
12,874
15,294
Current assets
Trade and other receivables
5
340,653
208,228
Cash and cash equivalents
62,040
174,054
402,693
382,282
Current liabilities
6
(200,261)
(285,471)
Net current assets
202,432
96,811
Total assets less current liabilities
215,306
112,105
Non-current liabilities
Borrowings
7
900,000
700,000
(900,000)
(700,000)
Net liabilities
(684,694)
(587,895)
Equity
Called up share capital
9
1,000
1,000
Retained earnings
(685,694)
(588,895)
Total equity
(684,694)
(587,895)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
Mr Robert Templeton
Director
Company registration number 12641420 (England and Wales)
CARE IS CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Care Is Central Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10 Bury Farm Mill Lane, Stotfold, Hitchin, SG5 4NY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

 

The financial statements of the company are consolidated in the financial statements of Central Bedfordshire Council. These consolidated financial statements are available from its official website https://www.centralbedfordshire.gov.uk/info/27/about_your_council/178annual_accounts_fees_and_charges_budget_statements_and_budget_books.

1.2
Going concern

The Company has made a loss in the year of £96,799 (2023: £252,965) and has net liabilities of £684,694 (2023: £587,895) at the balance sheet date.true The financial statements have been prepared on a going concern basis as the parent company has indicated its willingness and ability to support the company for at least 12 months from the date of approval of the financial statements, such that the company can meet its debts as they fall due.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Fixtures and fittings
25% straightline
Computer equipment
33% straightline

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CARE IS CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

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 statement of financial position 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.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CARE IS CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
120
84
4
Property, plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
833
20,020
20,853
Additions
-
0
6,843
6,843
Disposals
-
0
(4,335)
(4,335)
At 31 March 2024
833
22,528
23,361
Depreciation and impairment
At 1 April 2023
6
5,553
5,559
Depreciation charged in the year
167
6,021
6,188
Eliminated in respect of disposals
-
0
(1,260)
(1,260)
At 31 March 2024
173
10,314
10,487
Carrying amount
At 31 March 2024
660
12,214
12,874
At 31 March 2023
827
14,467
15,294
CARE IS CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
25,251
71,994
Amounts owed by group undertakings
282,544
102,313
Other receivables
32,858
33,921
340,653
208,228
6
Current liabilities
2024
2023
£
£
Trade payables
17,957
11,532
Amounts owed to group undertakings
47,259
20,948
Other payables
135,045
252,991
200,261
285,471
7
Borrowings
2024
2023
£
£
Loans from group undertakings and related parties
900,000
700,000
Payable after one year
900,000
700,000

The above loan is interest bearing at the rate determined by the lender plus 2% and is repayable by 31 March 2026.

 

8
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.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £100 each
10
10
1,000
1,000
CARE IS CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mr Waqqas Shabir Memon, BSc, FCCA
Statutory Auditor:
MMBA London Ltd
Date of audit report:
30 September 2024
11
Parent company

The company's parent is The Central Bedfordshire Group Limited, a company registered in the United Kingdom. Its registered office is Unit 10 Bury Farm, Mill Lane, Stotfold, Hitchin, SG5 4NY.

The group's ultimate controlling party and parent is the Central Bedfordshire Council whose principal place of business is in England. Central Bedfordshire Council prepares financial statements available to the public via its website.

2024-03-312023-04-01false30 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMrs Elaine Julie BradburyMs Lorna CarverMr Andrew SharpMr Mark SmithMr Steven WatkinsMr Robert TempletonMr Joshua TaeeMs Susan PuttersMs Susan PuttersMs Harpreet ChohanMr E P GhentMs C HegleyMr W McCarthyMrs Elaine Bradburyfalsefalse126414202023-04-012024-03-3112641420bus:Director22023-04-012024-03-3112641420bus:Director32023-04-012024-03-3112641420bus:Director42023-04-012024-03-3112641420bus:Director52023-04-012024-03-3112641420bus:Director62023-04-012024-03-3112641420bus:Director72023-04-012024-03-3112641420bus:Director82023-04-012024-03-3112641420bus:CompanySecretary12023-04-012024-03-3112641420bus:Director12023-04-012024-03-3112641420bus:Director92023-04-012024-03-3112641420bus:Director102023-04-012024-03-3112641420bus:Director112023-04-012024-03-3112641420bus:Director122023-04-012024-03-3112641420bus:Director132023-04-012024-03-3112641420bus:RegisteredOffice2023-04-012024-03-31126414202024-03-31126414202023-03-3112641420core:FurnitureFittings2024-03-3112641420core:ComputerEquipment2024-03-3112641420core:FurnitureFittings2023-03-3112641420core:ComputerEquipment2023-03-3112641420core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3112641420core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112641420core:CurrentFinancialInstruments2024-03-3112641420core:CurrentFinancialInstruments2023-03-3112641420core:Non-currentFinancialInstruments2024-03-3112641420core:Non-currentFinancialInstruments2023-03-3112641420core:ShareCapital2024-03-3112641420core:ShareCapital2023-03-3112641420core:RetainedEarningsAccumulatedLosses2024-03-3112641420core:RetainedEarningsAccumulatedLosses2023-03-3112641420core:FurnitureFittings2023-04-012024-03-3112641420core:ComputerEquipment2023-04-012024-03-31126414202022-04-012023-03-3112641420core:FurnitureFittings2023-03-3112641420core:ComputerEquipment2023-03-31126414202023-03-3112641420core:WithinOneYear2024-03-3112641420core:WithinOneYear2023-03-3112641420bus:PrivateLimitedCompanyLtd2023-04-012024-03-3112641420bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3112641420bus:FRS1022023-04-012024-03-3112641420bus:Audited2023-04-012024-03-3112641420bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP