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REGISTERED NUMBER: 10351275 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LOVE TO CARE DEVON LTD

LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOVE TO CARE DEVON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr D J Harborne
Mrs M Bird



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



REGISTERED NUMBER: 10351275 (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: Santander
53 High Street
Exeter
Devon
EX4 3HE

LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,065 8,142

CURRENT ASSETS
Debtors 5 90,431 69,088
Cash at bank and in hand 71,665 91,688
162,096 160,776
CREDITORS
Amounts falling due within one year 6 51,378 94,463
NET CURRENT ASSETS 110,718 66,313
TOTAL ASSETS LESS CURRENT LIABILITIES 154,783 74,455

CREDITORS
Amounts falling due after more than
one year

7

(62,352

)

(33,459

)

PROVISIONS FOR LIABILITIES (9,720 ) (687 )
NET ASSETS 82,711 40,309

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 82,611 40,209
SHAREHOLDERS' FUNDS 82,711 40,309

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

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

LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

BALANCE SHEET - continued
31 AUGUST 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 23 December 2024 and were signed on its behalf by:





Mrs M Bird - Director


LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

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


1. STATUTORY INFORMATION

Love To Care Devon 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.
Fixtures and fittings - 15% 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.

LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 72 (2023 - 60 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 3,808 6,495 16,726 27,029
Additions 1,594 47,480 4,690 53,764
Disposals - (6,495 ) - (6,495 )
At 31 August 2024 5,402 47,480 21,416 74,298
DEPRECIATION
At 1 September 2023 1,249 3,755 13,883 18,887
Charge for year 623 11,870 2,608 15,101
Eliminated on disposal - (3,755 ) - (3,755 )
At 31 August 2024 1,872 11,870 16,491 30,233
NET BOOK VALUE
At 31 August 2024 3,530 35,610 4,925 44,065
At 31 August 2023 2,559 2,740 2,843 8,142

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 47,480
At 31 August 2024 47,480
DEPRECIATION
Charge for year 11,870
At 31 August 2024 11,870
NET BOOK VALUE
At 31 August 2024 35,610

LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,153 11,264
Amounts owed by associates 24,268 -
Other debtors 200 760
Accrued income 51,619 44,352
Prepayments 5,191 12,712
90,431 69,088

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 6,196 -
Trade creditors 4,277 10,634
Tax 13,524 35,057
Social security and other taxes 20,494 18,149
Other creditors 3,902 3,874
Directors' current accounts - 23,987
Accrued expenses 2,985 2,762
51,378 94,463

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 23,459 33,459
Hire purchase contracts 38,893 -
62,352 33,459

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr D J Harborne
Balance outstanding at start of year (23,987 ) (35,872 )
Amounts advanced 23,987 16,085
Amounts repaid - (4,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (23,987 )

Mrs M Bird
Balance outstanding at start of year - (6,419 )
Amounts advanced - 36,685
Amounts repaid - (30,266 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

LOVE TO CARE DEVON LTD (REGISTERED NUMBER: 10351275)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest on credit balance loans is paid at 6.59% per annum, is unsecured and repayable on demand.

9. BOUNCE BACK LOAN

At the year end the company owed £23,459 (2023: £33,459) on a bounce back loan which is 100% guaranteed by the Government.