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REGISTERED NUMBER: 05649608 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CAREYOURWAY HOMECARE LTD

CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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


CAREYOURWAY HOMECARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs S Sabater Romero
Mr M Sabater Romero
Mr J Sabater Romero
Miss Y Sabater Romero



SECRETARY: Mr M Sabater Romero



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 05649608 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds
31 Fore Street
Totnes
Devon
TQ9 5HH

CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,983 131,182

CURRENT ASSETS
Debtors 5 135,971 192,152
Cash at bank 655,617 405,986
791,588 598,138
CREDITORS
Amounts falling due within one year 6 547,800 439,247
NET CURRENT ASSETS 243,788 158,891
TOTAL ASSETS LESS CURRENT LIABILITIES 348,771 290,073

CREDITORS
Amounts falling due after more than one
year

7

(3,237

)

(6,369

)

PROVISIONS FOR LIABILITIES (24,835 ) (20,762 )
NET ASSETS 320,699 262,942

CAPITAL AND RESERVES
Called up share capital 21 21
Retained earnings 320,678 262,921
SHAREHOLDERS' FUNDS 320,699 262,942

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.

CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

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 21 August 2024 and were signed on its behalf by:





Mrs S Sabater Romero - Director


CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

CareYourWay Homecare Ltd 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.

Tangible fixed assets
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.
Short leasehold - 10% on cost
Fixtures, Fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

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.

CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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 97 (2023 - 163 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Fittings
Short and Motor Computer
leasehold equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 127,121 65,901 64,646 8,147 265,815
Additions - 215 - 1,526 1,741
Disposals - - (27,995 ) - (27,995 )
At 31 March 2024 127,121 66,116 36,651 9,673 239,561
DEPRECIATION
At 1 April 2023 50,848 37,049 42,054 4,682 134,633
Charge for year 12,712 4,360 4,714 2,417 24,203
Eliminated on disposal - - (24,258 ) - (24,258 )
At 31 March 2024 63,560 41,409 22,510 7,099 134,578
NET BOOK VALUE
At 31 March 2024 63,561 24,707 14,141 2,574 104,983
At 31 March 2023 76,273 28,852 22,592 3,465 131,182

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 64,646
Disposals (27,995 )
At 31 March 2024 36,651
DEPRECIATION
At 1 April 2023 42,054
Charge for year 4,714
Eliminated on disposal (24,258 )
At 31 March 2024 22,510
NET BOOK VALUE
At 31 March 2024 14,141
At 31 March 2023 22,592

CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 117,248 90,239
Amounts owed by associates 792 87,769
Other debtors 10,467 7,415
Prepayments 7,464 6,729
135,971 192,152

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,132 5,083
Trade creditors 8,086 10,785
Amounts owed to associates 129,022 -
Tax 103,479 46,879
Social security and other taxes 49,235 45,765
Other creditors 141,675 87,594
Directors' current accounts 97,898 237,375
Accrued expenses 15,273 5,766
547,800 439,247

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,237 6,369

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 6,369 11,452

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr M Sabater Romero and Mrs S Sabater Romero
Balance outstanding at start of year (181,511 ) (194,667 )
Amounts advanced 130,836 113,548
Amounts repaid (24,493 ) (100,392 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (75,168 ) (181,511 )

CAREYOURWAY HOMECARE LTD (REGISTERED NUMBER: 05649608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Miss Y Sabater Romero
Balance outstanding at start of year (30,567 ) (13,700 )
Amounts advanced 29,115 23,640
Amounts repaid (12,258 ) (40,507 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,710 ) (30,567 )

Mr J Sabater Romero
Balance outstanding at start of year (25,297 ) -
Amounts advanced 27,624 11,200
Amounts repaid (11,347 ) (36,497 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,020 ) (25,297 )

10. RELATED PARTY DISCLOSURES

During the year a loan was repaid from CareYourWay Franchising Ltd, a company which shares the same Directors, an amount of £95,610.86 (2023: -£20,243). The amount owing to the company relating to this loan at the period end, is £0.00 (2023: £86,869). The loan was unsecured, interest free and repayable on demand.

During the year the company lent to CareYourWay Group Ltd, a company which shares the same Directors, an amount of £468 (2023: £510). The amount owing to the company relating to this loan at the period end, is £978 (2023: £510). The loan is unsecured, interest free and repayable on demand.

During the year the company lent to HR Advise Ltd, a company which shares the same Directors, an amount of £402 (2023: £390). The amount owing to the company relating to this loan at the period end, is £792 (2023: £390). The loan is unsecured, interest free and repayable on demand.

During the year dividends were paid to CareYourWay Group Ltd of £225,611.