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Registered number: 14132276
Careabout Ltd
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14132276
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,040 -
Tangible Assets 5 707 1,038
22,747 1,038
CURRENT ASSETS
Debtors 6 5,458 -
Cash at bank and in hand 227 491
5,685 491
Creditors: Amounts Falling Due Within One Year 7 (800 ) (950 )
NET CURRENT ASSETS (LIABILITIES) 4,885 (459 )
TOTAL ASSETS LESS CURRENT LIABILITIES 27,632 579
Creditors: Amounts Falling Due After More Than One Year 8 (36,446 ) (233 )
NET (LIABILITIES)/ASSETS (8,814 ) 346
CAPITAL AND RESERVES
Called up share capital 9 3,500 3,500
Profit and Loss Account (12,314 ) (3,154 )
SHAREHOLDERS' FUNDS (8,814) 346
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nicholas Brown
Director
20/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Careabout Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14132276 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 June 2023 - - -
Additions 623 21,417 22,040
As at 31 May 2024 623 21,417 22,040
Net Book Value
As at 31 May 2024 623 21,417 22,040
As at 1 June 2023 - - -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 610 593 1,203
As at 31 May 2024 610 593 1,203
Depreciation
As at 1 June 2023 76 89 165
Provided during the period 134 197 331
As at 31 May 2024 210 286 496
Net Book Value
As at 31 May 2024 400 307 707
As at 1 June 2023 534 504 1,038
6. Debtors
2024 2023
£ £
Due within one year
VAT 5,458 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 800 950
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 36,446 233
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3,500 3,500
Page 5