Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31192023-02-01falseNo description of principal activity28truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04373945 2023-02-01 2024-01-31 04373945 2022-02-01 2023-01-31 04373945 2024-01-31 04373945 2023-01-31 04373945 2022-02-01 04373945 c:Director1 2023-02-01 2024-01-31 04373945 d:Buildings 2023-02-01 2024-01-31 04373945 d:Buildings 2024-01-31 04373945 d:Buildings 2023-01-31 04373945 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04373945 d:MotorVehicles 2023-02-01 2024-01-31 04373945 d:MotorVehicles 2024-01-31 04373945 d:MotorVehicles 2023-01-31 04373945 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04373945 d:FurnitureFittings 2023-02-01 2024-01-31 04373945 d:FurnitureFittings 2024-01-31 04373945 d:FurnitureFittings 2023-01-31 04373945 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04373945 d:ComputerEquipment 2023-02-01 2024-01-31 04373945 d:ComputerEquipment 2024-01-31 04373945 d:ComputerEquipment 2023-01-31 04373945 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04373945 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04373945 d:CurrentFinancialInstruments 2024-01-31 04373945 d:CurrentFinancialInstruments 2023-01-31 04373945 d:CurrentFinancialInstruments 1 2024-01-31 04373945 d:CurrentFinancialInstruments 1 2023-01-31 04373945 d:Non-currentFinancialInstruments 2024-01-31 04373945 d:Non-currentFinancialInstruments 2023-01-31 04373945 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04373945 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04373945 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 04373945 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 04373945 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 04373945 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 04373945 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 04373945 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 04373945 d:ShareCapital 2024-01-31 04373945 d:ShareCapital 2023-01-31 04373945 d:RetainedEarningsAccumulatedLosses 2024-01-31 04373945 d:RetainedEarningsAccumulatedLosses 2023-01-31 04373945 c:OrdinaryShareClass1 2023-02-01 2024-01-31 04373945 c:OrdinaryShareClass1 2024-01-31 04373945 c:OrdinaryShareClass1 2023-01-31 04373945 c:FRS102 2023-02-01 2024-01-31 04373945 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04373945 c:FullAccounts 2023-02-01 2024-01-31 04373945 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04373945 d:WithinOneYear 2024-01-31 04373945 d:WithinOneYear 2023-01-31 04373945 d:BetweenOneFiveYears 2024-01-31 04373945 d:BetweenOneFiveYears 2023-01-31 04373945 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 04373945 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 04373945 f:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04373945










KCARE NURSING AGENCY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
KCARE NURSING AGENCY LIMITED
REGISTERED NUMBER: 04373945

BALANCE SHEET
AS AT 31 JANUARY 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,140,204
2,180,624

  
2,140,204
2,180,624

Current assets
  

Debtors: amounts falling due within one year
 5 
1,016,935
1,470,386

Current asset investments
 6 
29,785
27,420

Cash at bank and in hand
  
114,579
258,155

  
1,161,299
1,755,961

Creditors: amounts falling due within one year
 7 
(1,057,052)
(1,590,562)

Net current assets
  
 
 
104,247
 
 
165,399

Total assets less current liabilities
  
2,244,451
2,346,023

Creditors: amounts falling due after more than one year
 8 
(587,764)
(738,820)

Provisions for liabilities
  

Deferred tax
 10 
-
(2,451)

Net assets
  
1,656,687
1,604,752


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
1,656,587
1,604,652

  
1,656,687
1,604,752

Page 1

 
KCARE NURSING AGENCY LIMITED
REGISTERED NUMBER: 04373945

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Mukono
Director

Date: 28 January 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
KCARE NURSING AGENCY LIMITED
 

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

1.


General information

Kcare Nursing Agency Limited  is a private company, limited by share capital and incorporated in England and Wales. 
The Company's registered office and principal place of business is Seven Bridges House, 19 Bridge Street, Reading, Berkshire, United Kingdom, RG1 2LR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

       Revenue from the provision of care services is recognised as the care is provided.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 3

 
KCARE NURSING AGENCY LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
KCARE NURSING AGENCY LIMITED
 

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

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight-line
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Computer equipment
-
33%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 5

 
KCARE NURSING AGENCY LIMITED
 

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

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 19).

Page 6

 
KCARE NURSING AGENCY LIMITED
 

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

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
2,596,486
61,590
224,833
110,599
2,993,508


Additions
-
16,550
429
932
17,911



At 31 January 2024

2,596,486
78,140
225,262
111,531
3,011,419



Depreciation


At 1 February 2023
475,391
39,915
211,181
86,397
812,884


Charge for the year on owned assets
33,392
9,648
5,710
9,581
58,331



At 31 January 2024

508,783
49,563
216,891
95,978
871,215



Net book value



At 31 January 2024
2,087,703
28,577
8,371
15,553
2,140,204



At 31 January 2023
2,121,095
21,675
13,652
24,202
2,180,624

Included within Freehold Property is land of £927,267 (2023: £927,267) which is not depreciated


5.


Debtors

As restated
2024
2023
£
£

Trade debtors
327,195
728,195

Other debtors
593,374
690,811

Prepayments and accrued income
90,793
51,380

Deferred taxation
5,573
-

1,016,935
1,470,386



6.


Current asset investments

2024
2023
£
£

Listed investments
29,785
27,420


Page 7

 
KCARE NURSING AGENCY LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
58,232
-

Bank loans
115,975
170,162

Trade creditors
380,721
424,260

Corporation tax
85,103
256,596

Other taxation and social security
13,005
11,166

Proceeds of factored debts
197,223
379,442

Other creditors
5,696
20,161

Accruals and deferred income
201,097
328,775

1,057,052
1,590,562



Secured debts

The invoice discounting facility is secured by way of a fixed and floating charge over all assets. 
Bank loans are secured against the Company's freehold properties.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
587,764
738,820


Bank loans are secured against the Company's freehold properties.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Amounts falling due within one year
115,975
170,162

Amounts falling due 1-2 years
165,974
170,162

Amounts falling due 2-5 years
421,790
568,658

703,739
908,982

Page 8

 
KCARE NURSING AGENCY LIMITED
 

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

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,451)
(2,451)


Charged to profit or loss
8,024
-



At end of year
5,573
(2,451)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
5,573
(2,451)

5,573
(2,451)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



12.


Prior year adjustment

The accounts include a prior year restatement relating to the year ended 31 January 2022 and 31 January 2023. The nature of these adjustments relates to the restatement of business expenditure not recorded in the profit and loss account. The restatement has resulted in a reduction of profit before tax of £77,913 for the year ended 31 January 2022 and a reduction of profit before tax of £131,830 for the year ended 31 Janaury 2023. The corresponding entries have been posted against the directors loan account.  


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £15,372 (2023 - £4,995). Contributions totalling £3,063 (2023 - £1,695) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
KCARE NURSING AGENCY LIMITED
 

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

14.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
9,795
117,540

Later than 1 year and not later than 5 years
-
9,795

9,795
127,335


15.


Transactions with directors

At the year end the director owed £388,179 (2023: £453,541) to the Company. The amount is non interest bearing and is repayable on demand.


16.


Controlling party

The Company is controlled by P Mukono, the director of the Company.


Page 10