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COMPANY REGISTRATION NUMBER: 11140402
Plan with Care Limited
Filleted Unaudited Financial Statements
31 January 2024
Plan with Care Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Plan with Care Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
550
3,587
Tangible assets
6
986
1,556
-------
-------
1,536
5,143
Current assets
Debtors
7
25,706
40,744
Cash at bank and in hand
1,214
239
--------
--------
26,920
40,983
Creditors: amounts falling due within one year
8
75,060
51,273
--------
--------
Net current liabilities
48,140
10,290
--------
--------
Total assets less current liabilities
( 46,604)
( 5,147)
Creditors: amounts falling due after more than one year
9
7,833
9,654
--------
--------
Net liabilities
( 54,437)
( 14,801)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 54,438)
( 14,802)
--------
--------
Shareholders deficit
( 54,437)
( 14,801)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Plan with Care Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr N J Harris
Director
Company registration number: 11140402
Plan with Care Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Workshop, 32-40 Tontine Street, Folkestone, Kent, CT20 1JU, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in existence for the foreseeable future. The Directors have prepared financial forecasts for the business and have a reasonable expectation that the company will be able to meet its liabilities as they fall due for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software development
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 9 ).
5. Intangible assets
Software development
£
Cost
At 1 February 2023 and 31 January 2024
15,184
--------
Amortisation
At 1 February 2023
11,597
Charge for the year
3,037
--------
At 31 January 2024
14,634
--------
Carrying amount
At 31 January 2024
550
--------
At 31 January 2023
3,587
--------
6. Tangible assets
Equipment
£
Cost
At 1 February 2023 and 31 January 2024
3,014
-------
Depreciation
At 1 February 2023
1,458
Charge for the year
570
-------
At 31 January 2024
2,028
-------
Carrying amount
At 31 January 2024
986
-------
At 31 January 2023
1,556
-------
7. Debtors
2024
2023
£
£
Trade debtors
5,571
31,995
Other debtors
20,135
8,749
--------
--------
25,706
40,744
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,949
3,061
Trade creditors
11,129
9,737
Social security and other taxes
6,762
3,491
Other creditors
53,220
34,984
--------
--------
75,060
51,273
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,833
9,654
-------
-------
10. Directors' advances, credits and guarantees
During the year advances of £31,000 and repayments of £14,000 were made. Interest of £361 was charged on this loan. At the year end the company owed £48,950 (2023: £16,500) to companies related through common control and/or directorship.
11. Related party transactions
At the year end the company was owed £17,361 by a Director (2023: the company owed £6,000). At the year end the company owed £1,204 to a Director (2023: £10,392).