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Registration number: 07744717

Lytham Care Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 28 March 2024

 

Lytham Care Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Lytham Care Limited

Company Information

Directors

Mr Stefan James Campbell

Mr Peter Thomas Campbell

Registered office

400 Longmoor Lane
Fazakerley
Liverpool
Merseyside
L9 9DB

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

Lytham Care Limited

(Registration number: 07744717)
Abridged Balance Sheet as at 28 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

392,820

255,625

Current assets

 

Stocks

5

700

700

Debtors

6

83,480

311,653

Cash at bank and in hand

 

23,459

30,251

 

107,639

342,604

Creditors: Amounts falling due within one year

7.1

(783,962)

(683,346)

Net current liabilities

 

(676,323)

(340,742)

Total assets less current liabilities

 

(283,503)

(85,117)

Creditors: Amounts falling due after more than one year

7.2

(72,048)

(93,198)

Provisions for liabilities

(74,636)

-

Accruals and deferred income

 

(10,386)

(10,557)

Net liabilities

 

(440,573)

(188,872)

Capital and reserves

 

Called up share capital

8

240

240

Retained earnings

(440,813)

(189,112)

Shareholders' deficit

 

(440,573)

(188,872)

For the financial year ending 28 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Lytham Care Limited

(Registration number: 07744717)
Abridged Balance Sheet as at 28 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 December 2024 and signed on its behalf by:
 

.........................................
Mr Peter Thomas Campbell
Director

 

Lytham Care Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

1

General information

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

The address of its registered office is:
400 Longmoor Lane
Fazakerley
Liverpool
Merseyside
L9 9DB

These financial statements were authorised for issue by the Board on 24 December 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 abridged 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).

Basis of preparation

These abridged 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Lytham Care Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Freehold property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors. The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property improvements

2% on a straight line basis

Plant and machinery

20% on a reducing balance basis

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.

 

Lytham Care Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 directors) during the year, was 26 (2023 - 19).

 

Lytham Care Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

4

Tangible assets

Land and buildings
£

Properties under construction
 £

Plant and machinery
£

Total
£

Cost or valuation

At 29 March 2023

320,000

54,000

148,383

522,383

Additions

-

-

2,727

2,727

At 28 March 2024

320,000

54,000

151,110

525,110

Depreciation

At 29 March 2023

-

6,480

118,778

125,258

Charge for the year

-

1,080

5,952

7,032

At 28 March 2024

-

7,560

124,730

132,290

Carrying amount

At 28 March 2024

320,000

46,440

26,380

392,820

At 28 March 2023

178,500

47,520

29,605

255,625

Included within the net book value of land and buildings above is £320,000 (2023 - £178,500) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

700

700

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Creditors

Creditors: amounts falling due within one year


Creditors include bank loans which are secured of £20,728 (2023 - £20,305).This relates to commercial loans which are secured by way of a fixed and floating charge and negative pledge.

 

Lytham Care Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

Creditors: amounts falling due after more than one year


Creditors include bank loans which are secured of £72,048 (2023 - £93,298).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

240

240

240

240