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Registration number: 05473982

Your Care First Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Your Care First Limited

(Registration number: 05473982)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

102,629

136,877

Tangible assets

5

169,213

177,361

 

271,842

314,238

Current assets

 

Stocks

1,200

1,200

Debtors

6

474,707

451,183

Cash at bank and in hand

 

904,871

720,021

 

1,380,778

1,172,404

Creditors: Amounts falling due within one year

7

(338,624)

(309,674)

Net current assets

 

1,042,154

862,730

Total assets less current liabilities

 

1,313,996

1,176,968

Creditors: Amounts falling due after more than one year

7

-

(2,191)

Provisions for liabilities

(31,002)

(23,799)

Net assets

 

1,282,994

1,150,978

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,282,993

1,150,977

Shareholders' funds

 

1,282,994

1,150,978

 

Your Care First Limited

(Registration number: 05473982)
Statement of Financial Position as at 30 June 2024

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 his 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 Income Statement.

Approved and authorised by the director on 13 March 2025
 


Mr. S O Humphreys
Director

 

Your Care First Limited

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 United Kingdom.

The address of its registered office is:
200 Newburn Road
Throckley
Newcastle Upon Tyne
NE15 9AH

These financial statements were authorised for issue by the director on 13 March 2025.

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 compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

Basis of preparation

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 have been 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. The principal accounting policies adopted are set out below:

Revenue recognition

Turnover is measured at fair value of the consideration received or receivable and represents amounts invoiced for the provision of social care and care with accomodation, stated net of discounts.

 

Your Care First Limited

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income where the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Tax

The taxation expense represents the aggregate amounts 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, 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 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 and 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.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

5%/10%/33.33% straight line

Motor vehicles

25% straight line

 

Your Care First Limited

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

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset and amortised over its estimated useful life up to a maximum of 20 years. This length of time is presumed to be the maximum useful economic life of purchased goodwill because it is difficult to make projections beyond this period. If the economic life of goodwill cannot be reliably estimated, it is presumed to not exceed five years.

Intangible assets

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Asset class

Amortisation method and rate

Goodwill

5% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Leases

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 99 (2023 - 95).

 

Your Care First Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

685,000

685,000

At 30 June 2024

685,000

685,000

Amortisation

At 1 July 2023

548,123

548,123

Amortisation charge

34,248

34,248

At 30 June 2024

582,371

582,371

Carrying amount

At 30 June 2024

102,629

102,629

At 30 June 2023

136,877

136,877

5

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

522,417

19,202

541,619

Additions

23,635

-

23,635

At 30 June 2024

546,052

19,202

565,254

Depreciation

At 1 July 2023

348,558

15,700

364,258

Charge for the year

28,287

3,496

31,783

At 30 June 2024

376,845

19,196

396,041

Carrying amount

At 30 June 2024

169,207

6

169,213

At 30 June 2023

173,859

3,502

177,361

 

Your Care First Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

393,504

403,025

Prepayments

51,980

37,124

Other debtors

29,223

11,034

 

474,707

451,183

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

2,191

4,601

Trade creditors

 

150,699

125,715

Taxation and social security

 

78,655

67,085

Accruals and deferred income

 

55,148

88,468

Other creditors

 

51,931

23,805

 

338,624

309,674

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

2,191

8

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

A Director

(2,492)

28,686

(12,595)

13,599