Oswestry Care Limited
Company Registration No. 03940267 (England And Wales)
Unaudited Financial Statements
Year Ended 31 March 2024
OSWESTRY CARE LIMITED
Oswestry Care Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
OSWESTRY CARE LIMITED
Oswestry Care Limited
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,555
3,316
Current assets
Debtors
4
24,162
20,224
Cash at bank and in hand
71,775
6,177
95,937
26,401
Creditors: amounts falling due within one year
5
(208,678)
(134,119)
Net current liabilities
(112,741)
(107,718)
Net liabilities
(110,186)
(104,402)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(110,286)
(104,502)
Total equity
(110,186)
(104,402)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

OSWESTRY CARE LIMITED
Oswestry Care Limited
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 January 2025 and are signed on its behalf by:
C E Braybrooke
Director
Company registration number 03940267 (England and Wales)
OSWESTRY CARE LIMITED
Oswestry Care Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Oswestry Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Queens Courtyard, Oswald Road, Oswestry, Shropshire, England, SY11 1RB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

There was a net deficiency of assets of £110,186 at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. The accounts are therefore prepared on a going concern basis.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
Straight line over the life of the lease
Fixtures and fittings
25% reducing balance
Office equipment
Straight line over 3 years
OSWESTRY CARE LIMITED
Oswestry Care Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
31
30
OSWESTRY CARE LIMITED
Oswestry Care Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Improvements to property
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 April 2023
2,873
3,844
18,029
24,746
Additions
-
0
-
0
149
149
At 31 March 2024
2,873
3,844
18,178
24,895
Depreciation and impairment
At 1 April 2023
1,246
2,634
17,550
21,430
Depreciation charged in the year
203
303
404
910
At 31 March 2024
1,449
2,937
17,954
22,340
Carrying amount
At 31 March 2024
1,424
907
224
2,555
At 31 March 2023
1,627
1,210
479
3,316
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,173
6,493
Corporation tax recoverable
1,567
1,567
Other debtors
16,422
12,164
24,162
20,224
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,743
5,582
Taxation and social security
5,805
10,527
Other creditors
198,130
118,010
208,678
134,119
OSWESTRY CARE LIMITED
Oswestry Care Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
84,498
97,360
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