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Registration number: 05695059

LSC Nursing & Care Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

LSC Nursing & Care Services Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

LSC Nursing & Care Services Ltd

Company Information

Director

Mrs L S Carter

Registered office

44 Marston Road
Stafford
Staffordshire
ST16 3BU

Accountants

Wychbury Greaves Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

LSC Nursing & Care Services Ltd

(Registration number: 05695059)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,557

67,794

Current assets

 

Debtors

420,469

369,040

Cash at bank and in hand

 

1,730,497

271,964

 

2,150,966

641,004

Creditors: Amounts falling due within one year

(1,615,887)

(261,414)

Net current assets

 

535,079

379,590

Total assets less current liabilities

 

585,636

447,384

Creditors: Amounts falling due after more than one year

(10,000)

(20,000)

Provisions for liabilities

(9,606)

(12,837)

Net assets

 

566,030

414,547

Capital and reserves

 

Called up share capital

5

1,000

1,000

Retained earnings

565,030

413,547

Shareholders' funds

 

566,030

414,547

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 December 2024
 

.........................................
Mrs L S Carter
Director

 

LSC Nursing & Care Services Ltd

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Retained earnings
£

Total
£

At 1 July 2023

1,000

413,546

414,546

Profit for the year

-

417,759

417,759

Dividends

-

(266,275)

(266,275)

At 30 June 2024

1,000

565,030

566,030

Share capital
£

Retained earnings
£

Total
£

At 1 July 2022

1,000

487,435

488,435

Profit for the year

-

36,112

36,112

Dividends

-

(110,000)

(110,000)

At 30 June 2023

1,000

413,547

414,547

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
44 Marston Road
Stafford
Staffordshire
ST16 3BU

These financial statements were authorised for issue by the director on 19 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 102 (2023 - 67).

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

46,161

78,135

124,296

Disposals

(9,345)

-

(9,345)

At 30 June 2024

36,816

78,135

114,951

Depreciation

At 1 July 2023

42,238

14,264

56,502

Charge for the year

888

15,968

16,856

Eliminated on disposal

(8,964)

-

(8,964)

At 30 June 2024

34,162

30,232

64,394

Carrying amount

At 30 June 2024

2,654

47,903

50,557

At 30 June 2023

3,923

63,871

67,794

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

20,000

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

 

LSC Nursing & Care Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £266.275 (2023 - £110.00) per each Ordinary shares

266,275

110,000

 

 

8

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mrs L S Carter

147,862

192,672

(266,275)

74,259

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mrs L S Carter

119,742

138,119

(110,000)

147,862

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

10,072

9,072

Contributions paid to money purchase schemes

89,503

88,085

99,575

97,157