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REGISTERED NUMBER: 07063861 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Mi Life Care Services Limited

Mi Life Care Services Limited (Registered number: 07063861)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mi Life Care Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D J Gandhi
K D Gandhi





REGISTERED OFFICE: 61 The Broadway
Oadby
Leicester
LE2 2HF





REGISTERED NUMBER: 07063861 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Mi Life Care Services Limited (Registered number: 07063861)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 190,000 62,500
Tangible assets 5 1,279 2,256
191,279 64,756

CURRENT ASSETS
Debtors 6 231,836 142,268
Cash at bank and in hand 212,170 179,810
444,006 322,078
CREDITORS
Amounts falling due within one year 7 (252,428 ) (107,401 )
NET CURRENT ASSETS 191,578 214,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,857

279,433

PROVISIONS FOR LIABILITIES (320 ) (287 )
NET ASSETS 382,537 279,146

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 382,536 279,145
SHAREHOLDERS' FUNDS 382,537 279,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Mi Life Care Services Limited (Registered number: 07063861)

Balance Sheet - continued
31 March 2024


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

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 22 August 2024 and were signed on its behalf by:





K D Gandhi - Director


Mi Life Care Services Limited (Registered number: 07063861)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mi Life Care Services 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
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
Computer equipment - 33% on cost

Taxation
Taxation for the year 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.

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.

Mi Life Care Services Limited (Registered number: 07063861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised on 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 lease term, whichever is
shorter.

The interest element of these obligations is charged to the 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 73 (2023 - 70 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 75,000
Additions 150,000
At 31 March 2024 225,000
AMORTISATION
At 1 April 2023 12,500
Charge for year 22,500
At 31 March 2024 35,000
NET BOOK VALUE
At 31 March 2024 190,000
At 31 March 2023 62,500

Mi Life Care Services Limited (Registered number: 07063861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 10,066 7,801 17,867
DEPRECIATION
At 1 April 2023 9,074 6,537 15,611
Charge for year 278 699 977
At 31 March 2024 9,352 7,236 16,588
NET BOOK VALUE
At 31 March 2024 714 565 1,279
At 31 March 2023 992 1,264 2,256

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 202,197 132,802
Amounts owed by group undertakings - 5,000
Other debtors 29,639 4,466
231,836 142,268

Other debtors include prepayments and accrued income of £5,663 (2023: £4,066).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,063 1,521
Amounts owed to group undertakings 101,727 1,727
Taxation and social security 141,670 93,316
Other creditors 7,968 10,837
252,428 107,401

Other creditors include accruals and deferred income of £3,172 (2023: £5,046).

8. SECURED DEBTS

The company is part of a cross guarantee with Barclays. As at 31 March 2024, the potential amount due under this guarantee was £282,100 (2023: £347,525).