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Registration number: 14316505

YourCare Network Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

YourCare Network Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Statement of Cash Flows

8

Notes to the Unaudited Financial Statements

9 to 13

 

YourCare Network Ltd

Company Information

Director

Mr Anthony James Pilling

Registered office

Airport Business Centre 10
Thornbury Road
Plymouth
PL6 7PP

Accountants

GW & Co. Limited
Waterside Court
Falmouth Road
Penryn
Cornwall
TR10 8AW

 

YourCare Network Ltd

Director's Report for the Year Ended 31 August 2024

The director presents his report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr Anthony James Pilling

Principal activity

The principal activity of the company is Residential care activities for the elderly and disabled

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 20 October 2024
 

.........................................
Mr Anthony James Pilling
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
YourCare Network Ltd
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of YourCare Network Ltd for the year ended 31 August 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of YourCare Network Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of YourCare Network Ltd and state those matters that we have agreed to state to the Board of Directors of YourCare Network Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than YourCare Network Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that YourCare Network Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of YourCare Network Ltd. You consider that YourCare Network Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of YourCare Network Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

GW & Co. Limited
Waterside Court
Falmouth Road
Penryn
Cornwall
TR10 8AW

4 November 2024

 

YourCare Network Ltd

Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

61,474

-

Cost of sales

 

(998)

-

Gross profit

 

60,476

-

Administrative expenses

 

(88,343)

-

Operating loss

 

(27,867)

-

Interest payable and similar expenses

 

(664)

-

Loss before tax

4

(28,531)

-

Loss for the financial year

 

(28,531)

-

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

YourCare Network Ltd

Statement of Comprehensive Income for the Year Ended 31 August 2024

2024
£

2023
£

Loss for the year

(28,531)

-

Total comprehensive income for the year

(28,531)

-

 

YourCare Network Ltd

(Registration number: 14316505)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

167

-

Current assets

 

Debtors

6

29,096

1

Cash at bank and in hand

 

12,354

-

 

41,450

1

Creditors: Amounts falling due within one year

7

(16,772)

-

Net current assets

 

24,678

1

Total assets less current liabilities

 

24,845

1

Creditors: Amounts falling due after more than one year

7

(53,375)

-

Net (liabilities)/assets

 

(28,530)

1

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(28,531)

-

Shareholders' (deficit)/funds

 

(28,530)

1

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 20 October 2024
 

.........................................
Mr Anthony James Pilling
Director

 

YourCare Network Ltd

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

1

-

1

Loss for the year

-

(28,531)

(28,531)

At 31 August 2024

1

(28,531)

(28,530)

Share capital
£

Total
£

New share capital subscribed

1

1

At 31 August 2023

1

1

 

YourCare Network Ltd

Statement of Cash Flows for the Year Ended 31 August 2024

Note

2024
£

2023
£

Cash flows from operating activities

Loss for the year

 

(28,531)

-

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

83

-

Finance costs

664

-

 

(27,784)

-

Working capital adjustments

 

Increase in trade debtors

6

(29,095)

(1)

Increase in trade creditors

7

5,928

-

Net cash flow from operating activities

 

(50,951)

(1)

Cash flows from investing activities

 

Acquisition of intangible assets

5

(250)

-

Cash flows from financing activities

 

Interest paid

(664)

-

Proceeds from issue of ordinary shares, net of issue costs

 

-

1

Repayment of other borrowing

 

63,654

-

Net cash flows from financing activities

 

62,990

1

Net increase in cash and cash equivalents

 

11,789

-

Cash and cash equivalents at 1 September

 

-

-

Cash and cash equivalents at 31 August

 

11,789

-

 

YourCare Network Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Airport Business Centre 10
Thornbury Road
Plymouth
PL6 7PP
England

These financial statements were authorised for issue by the director on 20 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

YourCare Network Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 25 (2023 - 0).

 

YourCare Network Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Amortisation expense

83

-

 

YourCare Network Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

250

250

At 31 August 2024

250

250

Amortisation

Amortisation charge

83

83

At 31 August 2024

83

83

Carrying amount

At 31 August 2024

167

167

6

Debtors

Current

2024
£

2023
£

Trade debtors

23,244

-

Prepayments

1,459

-

Other debtors

4,393

1

 

29,096

1

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,844

-

Trade creditors

 

752

-

Taxation and social security

 

3,766

-

Accruals and deferred income

 

1,362

-

Other creditors

 

48

-

 

16,772

-

 

YourCare Network Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

53,375

-

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

53,375

-

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

565

-

Other borrowings

10,279

-

10,844

-

10

Related party transactions

Included in other debtors as at 31 August 2024 is and amount of £3,627 from the director, this will be repaid within 9 months of the year end.