Company Registration No. 13611822 (England and Wales)
LIVINGCARE SHEFFIELD LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LIVINGCARE SHEFFIELD LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
LIVINGCARE SHEFFIELD LIMITED
COMPANY INFORMATION
- 1 -
Director
Dr S M Feldman
Company number
13611822
Registered office
EIS Sheffield
Coleridge Road
Sheffield
S9 5DA
Auditor
Henton & Co LLP
Northgate
118 North Street
Leeds
England
LS2 7PN
LIVINGCARE SHEFFIELD LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,101,104
Current assets
Stocks
6,191
-
Debtors
4
696,750
523,380
Cash at bank and in hand
63,296
332,930
766,237
856,310
Creditors: amounts falling due within one year
5
(1,285,277)
(1,183,088)
Net current liabilities
(519,040)
(326,778)
Total assets less current liabilities
5,582,064
(326,778)
Creditors: amounts falling due after more than one year
6
(6,379,019)
Net liabilities
(796,955)
(326,778)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(797,055)
(326,878)
Total equity
(796,955)
(326,778)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 February 2025
Dr S M Feldman
Director
Company registration number 13611822 (England and Wales)
LIVINGCARE SHEFFIELD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2022
100
(148,360)
(148,260)
Year ended 31 March 2023:
Loss and total comprehensive income
-
(178,518)
(178,518)
Balance at 31 March 2023
100
(326,878)
(326,778)
Year ended 31 March 2024:
Loss and total comprehensive income
-
(470,177)
(470,177)
Balance at 31 March 2024
100
(797,055)
(796,955)
LIVINGCARE SHEFFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Livingcare Sheffield Limited is a private company limited by shares incorporated in England and Wales. The registered office is EIS Sheffield, Coleridge Road, Sheffield, S9 5DA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future as the company will be supported by the directors. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Right of use asset
5 - 10 years straight line
Plant and equipment
10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
LIVINGCARE SHEFFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
LIVINGCARE SHEFFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Right of use asset
Plant and equipment
Total
£
£
£
Cost
At 1 April 2023
Additions
6,270,727
19,525
6,290,252
At 31 March 2024
6,270,727
19,525
6,290,252
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
187,671
1,477
189,148
At 31 March 2024
187,671
1,477
189,148
Carrying amount
At 31 March 2024
6,083,056
18,048
6,101,104
At 31 March 2023
LIVINGCARE SHEFFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Tangible fixed assets
(Continued)
- 7 -
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2024
2023
£
£
Right of use asset
6,083,056
-
6,083,056
-
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
275,278
152,412
Amounts owed by group undertakings
89,199
Other debtors
421,472
281,769
696,750
523,380
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
271,418
79,779
Amounts owed to group undertakings
792,675
538,494
Taxation and social security
19,851
Other creditors
201,333
564,815
1,285,277
1,183,088
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
6,379,019
LIVINGCARE SHEFFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6
Creditors: amounts falling due after more than one year
(Continued)
- 8 -
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
5,881,980
-
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Chris Howitt FCA and the aduitor was Henton & co LLP.
LIVINGCARE SHEFFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
8
Related party transactions
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Fountain Diagnostic Limited
507,884
Laserslim Cosmetic Services Limited
89,199
Living Care Group Limited
240,488
Livingcare Imaging Limited
30,610
9
Parent company
Parent Company:
Fountain Diagnostic Limited
4215 Park Approach, Thorpe Park, Leeds, LSS15 8GB
The ultimate controlling party is Living Care Group Limited.
2024-03-312023-04-01false10 February 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedDr S M Feldmanfalsefalse136118222023-04-012024-03-3113611822bus:Director12023-04-012024-03-3113611822bus:RegisteredOffice2023-04-012024-03-31136118222024-03-31136118222023-03-3113611822core:LeaseholdImprovements2024-03-3113611822core:PlantMachinery2024-03-3113611822core:LeaseholdImprovements2023-03-3113611822core:PlantMachinery2023-03-3113611822core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3113611822core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3113611822core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3113611822core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3113611822core:CurrentFinancialInstruments2024-03-3113611822core:CurrentFinancialInstruments2023-03-3113611822core:ShareCapital2024-03-3113611822core:ShareCapital2023-03-3113611822core:RetainedEarningsAccumulatedLosses2024-03-3113611822core:RetainedEarningsAccumulatedLosses2023-03-3113611822core:ShareCapital2022-03-3113611822core:RetainedEarningsAccumulatedLosses2022-03-3113611822core:RetainedEarningsAccumulatedLosses2022-04-012023-03-31136118222022-04-012023-03-3113611822core:RetainedEarningsAccumulatedLosses2023-04-012024-03-3113611822core:LeaseholdImprovements2023-04-012024-03-3113611822core:PlantMachinery2023-04-012024-03-3113611822core:LeaseholdImprovements2023-03-3113611822core:PlantMachinery2023-03-31136118222023-03-3113611822core:WithinOneYear2024-03-3113611822core:WithinOneYear2023-03-3113611822core:Non-currentFinancialInstruments2024-03-3113611822core:Non-currentFinancialInstruments2023-03-3113611822core:ImmediateParent2023-04-012024-03-3113611822core:Associate22023-04-012024-03-3113611822core:Associate12023-04-012024-03-3113611822core:Associate32023-04-012024-03-3113611822core:ImmediateParent2024-03-3113611822core:ImmediateParent2023-03-3113611822core:Associate22024-03-3113611822core:Associate22023-03-3113611822core:Associate12024-03-3113611822core:Associate12023-03-3113611822core:Associate32024-03-3113611822core:Associate32023-03-3113611822bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113611822bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113611822bus:FRS1022023-04-012024-03-3113611822bus:Audited2023-04-012024-03-3113611822bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP