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Registered number: 07324026
Care Wish Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Phillips Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07324026
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,044,762 838,548
1,044,762 838,548
CURRENT ASSETS
Debtors 5 1,128,445 805,304
Cash at bank and in hand 447,284 498,148
1,575,729 1,303,452
Creditors: Amounts Falling Due Within One Year 6 (488,102 ) (381,324 )
NET CURRENT ASSETS (LIABILITIES) 1,087,627 922,128
TOTAL ASSETS LESS CURRENT LIABILITIES 2,132,389 1,760,676
Creditors: Amounts Falling Due After More Than One Year 7 (238,538 ) (276,277 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,659 ) (13,734 )
NET ASSETS 1,873,192 1,470,665
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 1,873,191 1,470,664
SHAREHOLDERS' FUNDS 1,873,192 1,470,665
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mrs Christine McManus
Director
25/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Care Wish Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07324026 . The registered office is 136 Halesowen Road, Cradley Heath, West Midlands, B64 5LP.
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. 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:
Freehold NIL
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 20% on reducing balance
No depreciation is charged on freehold property as in the opinion of the directors any such depreciation would be immaterial.
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2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 82 (2023: 66)
82 66
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 782,213 12,994 70,875 12,735 878,817
Additions 178,767 3,995 41,380 - 224,142
As at 30 June 2024 960,980 16,989 112,255 12,735 1,102,959
Depreciation
As at 1 July 2023 - 1,655 27,841 10,773 40,269
Provided during the period - 3,834 13,523 571 17,928
As at 30 June 2024 - 5,489 41,364 11,344 58,197
...CONTINUED
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Net Book Value
As at 30 June 2024 960,980 11,500 70,891 1,391 1,044,762
As at 1 July 2023 782,213 11,339 43,034 1,962 838,548
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 393,355 263,543
Other debtors 180,720 112,170
Directors' loan accounts 334,859 195,000
Amounts owed by associates 219,511 234,591
1,128,445 805,304
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,682 10,533
Bank loans and overdrafts 32,804 30,924
Corporation tax 168,118 124,564
Other taxes and social security 102,386 75,737
Wages creditor 166,090 126,000
Pension creditor 9,072 6,616
Accruals and deferred income 6,950 6,950
488,102 381,324
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 238,538 276,277
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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Page 6
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 44,840 21,065
Page 6