Company Registration No. 11579333 (England and Wales)
Liverbird Home Care Ltd
Unaudited accounts
for the year ended 29 February 2024
Liverbird Home Care Ltd
Unaudited accounts
Contents
Liverbird Home Care Ltd
Company Information
for the year ended 29 February 2024
Director
Gavin Shaun Preston
Company Number
11579333 (England and Wales)
Registered Office
Unit 15 Meridian Business Village
Woodend Avenue
Hunts Cross
L24 9LG
England
Liverbird Home Care Ltd
Statement of financial position
as at 29 February 2024
Intangible assets
19,197
28,594
Tangible assets
11,380
10,167
Cash at bank and in hand
4,767
34,760
Creditors: amounts falling due within one year
(187,603)
(126,362)
Net current assets
198,861
269,753
Total assets less current liabilities
229,438
308,514
Provisions for liabilities
Deferred tax
(7,645)
(1,932)
Net assets
221,793
306,582
Called up share capital
1
1
Profit and loss account
221,792
306,581
Shareholders' funds
221,793
306,582
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 January 2024 and were signed on its behalf by
Gavin Shaun Preston
Director
Company Registration No. 11579333
Liverbird Home Care Ltd
Notes to the Accounts
for the year ended 29 February 2024
Liverbird Home Care Ltd is a private company, limited by shares, registered in England and Wales, registration number 11579333. The registered office is Unit 15 Meridian Business Village, Woodend Avenue, Hunts Cross, L24 9LG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company’s activities described below.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
20%
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company’s interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life.
Liverbird Home Care Ltd
Notes to the Accounts
for the year ended 29 February 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible
4
Intangible fixed assets
Goodwill
Other
Total
At 1 March 2023
11,116
38,394
49,510
At 29 February 2024
11,116
38,394
49,510
At 1 March 2023
5,558
15,358
20,916
Charge for the year
5,558
3,839
9,397
At 29 February 2024
11,116
19,197
30,313
At 29 February 2024
-
19,197
19,197
At 28 February 2023
5,558
23,036
28,594
Liverbird Home Care Ltd
Notes to the Accounts
for the year ended 29 February 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
1,095
6,986
15,619
23,700
Additions
-
1,138
7,746
8,884
At 29 February 2024
1,095
8,124
23,365
32,584
At 1 March 2023
329
3,339
9,865
13,533
Charge for the year
219
1,591
5,861
7,671
At 29 February 2024
548
4,930
15,726
21,204
At 29 February 2024
547
3,194
7,639
11,380
At 28 February 2023
766
3,647
5,754
10,167
Amounts falling due within one year
Trade debtors
82,163
71,812
Accrued income and prepayments
6,536
1,609
Other debtors
292,998
287,934
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
35,904
26,395
Trade creditors
45,074
5,668
Taxes and social security
37,667
38,705
Other creditors
35,178
22,632
Loans from directors
363
-
8
Average number of employees
During the year the average number of employees was 75 (2023: 75).