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COMPANY REGISTRATION NUMBER: 13675082
Koru Care UK Ltd
Filleted Unaudited Abridged Financial Statements
30 June 2024
Koru Care UK Ltd
Abridged Financial Statements
Year Ended 30 June 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Koru Care UK Ltd
Abridged Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed Assets
Tangible assets
5
455,087
450,000
Current Assets
Debtors
224,103
141,297
Cash at bank and in hand
225,905
16,741
---------
---------
450,008
158,038
Creditors: amounts falling due within one year
1,028,346
720,630
------------
---------
Net Current Liabilities
578,338
562,592
---------
---------
Total Assets Less Current Liabilities
( 123,251)
( 112,592)
---------
---------
Net Liabilities
( 123,251)
( 112,592)
---------
---------
Capital and Reserves
Called up share capital
6
100
100
Profit and loss account
( 123,351)
( 112,692)
---------
---------
Shareholders Deficit
( 123,251)
( 112,592)
---------
---------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Koru Care UK Ltd
Abridged Statement of Financial Position (continued)
30 June 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 6 February 2025 , and are signed on behalf of the board by:
Mr A Garg
Director
Company registration number: 13675082
Koru Care UK Ltd
Notes to the Abridged Financial Statements
Year Ended 30 June 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 27 Gander Lane, Barlborough, Chesterfield, Derbyshire, S43 4PZ.
2. Statement of compliance
These abridged 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Taxation
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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. In determining the residual value of the property the director has considered the amount they would currently obtain from disposal of the asset, if it were already of the age and condition expected at the end of its useful life. As a result any depreciation charge would be nil.
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:
Fixtures and fittings
-
18% 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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 34 (2023: 28 ).
5. Tangible assets
£
Cost
At 1 July 2023
450,000
Additions
5,444
---------
At 30 June 2024
455,444
---------
Depreciation
At 1 July 2023
Charge for the year
357
---------
At 30 June 2024
357
---------
Carrying amount
At 30 June 2024
455,087
---------
At 30 June 2023
450,000
---------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Related party transactions
During the year the company provided and received short and long term loans from related parties. The balances outstanding due from/(to) related parties at 30 June 2024 are as follows:
2024 2023
£ £
Amounts due from other related parties 129,498 66,283
Amounts due to other related parties (954,962) (631,452)
Outstanding balances are unsecured, interest free and repayable on demand.
8. Controlling party
The company is a subsidiary with the immediate parent company being Shumz Holdings UK Limited. The ultimate parent company and controlling party is Experion Holdings Guernsey Limited, a company incorporated in Guernsey. Experion Holdings Guernsey Limited is registered with the Guernsey Registrar of Companies under number 70404. It's registered office is 4th Floor, West Wing, Trafalgar Court, Admiral Park, St Peter Port, Guernsey, GY1 2JA.