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Registered number: 03094275









CAREBROOK LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 MARCH 2024

 
CAREBROOK LIMITED
 
 
COMPANY INFORMATION


Director
G Loughran 




Company secretary
G Concu



Registered number
03094275



Registered office
101 New Cavendish Street
1st floor South

London

United Kingdom

W1W 6XH




Independent auditors
Harris & Trotter LLP
Chartered Accountants & Registered Auditors

101 New Cavendish Street

1st Floor South

London

United Kingdom

W1W 6XH





 
CAREBROOK LIMITED
 

CONTENTS



Page
Strategic Report
1
Director's Report
2 - 3
Independent Auditors' Report
4 - 7
Statement of Comprehensive Income
8
Balance Sheet
9 - 10
Statement of Changes in Equity
11
Notes to the Financial Statements
12 - 25


 
CAREBROOK LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 28 MARCH 2024

Introduction
 
The director presents the Strategic Report together with the audited financial statements for the year ended 28 March 2024.

Principal risks and uncertainties
 
The company's principal risks stem from the trading performance of the business. These include the levels of ongoing demand, and managing the businesses cash flow. The company manages these risks by continually enhancing management information systems to allow close monitoring of income and profitability.
The company's principal financial instruments comprise bank balances, bank loans, and trade creditors. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.
Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group's approach to managing other risks applicable to the financial instruments concerned is shown below.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.


This report was approved by the board on 25 March 2025 and signed on its behalf.



G Loughran
Director

Page 1

 
CAREBROOK LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 MARCH 2024

The director presents his report and the financial statements for the year ended 28 March 2024.

Director's responsibilities statement

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Director

The director who served during the year was:

G Loughran 

Page 2

 
CAREBROOK LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 28 MARCH 2024


Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsHarris & Trotter LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 25 March 2025 and signed on its behalf.
 





G Loughran
Director

Page 3

 
CAREBROOK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAREBROOK LIMITED
 

Opinion


We have audited the financial statements of Carebrook Limited (the 'Company') for the year ended 28 March 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 28 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Page 4

 
CAREBROOK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAREBROOK LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
CAREBROOK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAREBROOK LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:
• We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006.
• We obtained an understanding of how the Group is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates; 
We did not identify any key audit matters relating to irregularities, including fraud.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 6

 
CAREBROOK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAREBROOK LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Neville Newman (Senior Statutory Auditor)
  
for and on behalf of
Harris & Trotter LLP
 
Chartered Accountants
Registered Auditors
  
101 New Cavendish Street
1st Floor South
London
United Kingdom
W1W 6XH

25 March 2025
Page 7

 
CAREBROOK LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 MARCH 2024

2024
2023
Note
£
£

  

Turnover
 3 
18,728,206
16,834,644

Cost of sales
  
(7,116,557)
(6,550,941)

Gross profit
  
11,611,649
10,283,703

Administrative expenses
  
(10,223,161)
(9,243,894)

Operating profit
  
1,388,488
1,039,809

Interest receivable and similar income
 5 
15,254
99,981

Interest payable and similar expenses
 6 
(224,028)
(134,285)

Foreign exchange unrealized loss
  
(5,261)
-

Profit before tax
  
1,174,453
1,005,505

Tax on profit
  
(334,989)
(316,866)

Profit for the financial year
  
839,464
688,639

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

Page 8

 
CAREBROOK LIMITED
REGISTERED NUMBER: 03094275

BALANCE SHEET
AS AT 28 MARCH 2024

28 March
31 March
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 8 
117,091
114,575

Tangible assets
 9 
4,027,050
3,068,461

Investments
 10 
33,250
33,250

  
4,177,391
3,216,286

Current assets
  

Stocks
 11 
72,784
70,674

Debtors: amounts falling due within one year
 12 
7,152,828
5,549,102

Cash at bank and in hand
 13 
592,070
2,263,333

  
7,817,682
7,883,109

Creditors: amounts falling due within one year
 14 
(7,360,319)
(7,516,340)

Net current assets
  
 
 
457,363
 
 
366,769

Total assets less current liabilities
  
4,634,754
3,583,055

Creditors: amounts falling due after more than one year
 15 
(1,953,168)
(2,009,705)

Provisions for liabilities
  

Deferred tax
 17 
(791,988)
(523,216)

  
 
 
(791,988)
 
 
(523,216)

Net assets
  
1,889,598
1,050,134


Capital and reserves
  

Called up share capital 
 18 
76
76

Share premium account
 19 
64,900
64,900

Capital redemption reserve
 19 
25
25

Profit and loss account
 19 
1,824,597
985,133

  
1,889,598
1,050,134


Page 9

 
CAREBROOK LIMITED
REGISTERED NUMBER: 03094275
    
BALANCE SHEET (CONTINUED)
AS AT 28 MARCH 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 March 2025.




G Loughran
Director

The notes on pages 12 to 25 form part of these financial statements.

Page 10

 
CAREBROOK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 MARCH 2024


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2022
76
64,900
25
296,494
361,495



Profit for the year
-
-
-
688,639
688,639



At 1 April 2023
76
64,900
25
985,133
1,050,134



Profit for the year
-
-
-
839,464
839,464


At 28 March 2024
76
64,900
25
1,824,597
1,889,598


The notes on pages 12 to 25 form part of these financial statements.

Page 11

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

1.


General information

Carebrook Limited is a private company limited by shares and incorporated in England & Wales (registered number 03094275). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 12

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
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 shall be 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 on a straight-line basis over their useful economic lives, which range from 3 to 6 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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 13

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 14

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Straight line over the life of the lease
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 15

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sales
18,728,206
16,834,644

Total Income
18,728,206
16,834,644


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
18,728,206
16,834,644

Total Income
18,728,206
16,834,644


All turnover arose within the United Kingdom.

Page 16

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

4.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
4,861,482
4,636,885

Social security costs
294,086
123,789

Cost of defined contribution scheme
122,030
90,903

Total Staff Costs
5,277,598
4,851,577


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
238
237


5.


Interest receivable

2024
2023
£
£


Other interest receivable
15,254
99,981

Total Interest receivable
15,254
99,981


6.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
224,028
134,285

224,028
134,285

Page 17

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

7.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
66,217
1,667


66,217
1,667


Total current tax
66,217
1,667

Deferred tax


Origination and reversal of timing differences
268,772
315,199

Total deferred tax
268,772
315,199


Tax on profit
334,989
316,866

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,174,453
1,005,505


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
293,613
191,046

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
846
80

Capital allowances for year in excess of depreciation
(77,386)
(189,379)

Short-term timing difference leading to an increase (decrease) in taxation
268,772
315,119

Group relief
(150,856)
-

Total tax charge for the year
334,989
316,866


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 18

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

8.


Intangible assets






Patents

£



Cost


At 1 April 2023
125,000


Additions
15,000



At 28 March 2024

140,000



Amortisation


At 1 April 2023
10,425


Charge for the year
12,484



At 28 March 2024

22,909



Net book value



At 28 March 2024
117,091



At 31 March 2023
114,575



Page 19

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

9.


Tangible fixed assets







Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
1,038,379
5,723,159
6,761,538


Additions
513,963
1,285,621
1,799,584



At 28 March 2024

1,552,342
7,008,780
8,561,122



Depreciation


At 1 April 2023
286,990
3,406,087
3,693,077


Charge for the year
138,352
702,643
840,995



At 28 March 2024

425,342
4,108,730
4,534,072



Net book value



At 28 March 2024
1,127,000
2,900,050
4,027,050



At 31 March 2023
751,389
2,317,072
3,068,461


10.


Fixed asset investments








Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2023
2
33,248
33,250



At 28 March 2024
2
33,248
33,250




Page 20

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Vauxhall London Limited
England & Wales
Ordinary
100%
Carebrook (Walthamstow) Limited
England & Wales
Ordinary
100%

The aggregate of the share capital and reserves as at 28 March 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Vauxhall London Limited
1
-

Carebrook (Walthamstow) Limited
1
-


11.


Stocks

28 March
31 March
2024
2023
£
£

Finished goods and goods for resale
72,784
70,674

72,784
70,674


Page 21

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

12.


Debtors

28 March
31 March
2024
2023
£
£


Trade debtors
510,570
259,971

Amounts owed by group undertakings
5,397,976
3,113,752

Other debtors
379,117
498,554

Prepayments and accrued income
865,165
1,676,825

7,152,828
5,549,102



13.


Cash and cash equivalents

28 March
31 March
2024
2023
£
£

Cash at bank and in hand
592,070
2,263,333

592,070
2,263,333



14.


Creditors: Amounts falling due within one year

28 March
31 March
2024
2023
£
£

Bank loans
602,784
445,835

Other loans
11,442
19,470

Trade creditors
1,495,571
2,101,843

Amounts owed to group undertakings
1,075,958
404,439

Other taxation and social security
341,309
466,721

Other creditors
132,754
47,527

Accruals and deferred income
3,700,501
4,030,505

7,360,319
7,516,340


Page 22

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

15.


Creditors: Amounts falling due after more than one year

28 March
31 March
2024
2023
£
£

Bank loans
1,953,168
2,009,705

1,953,168
2,009,705



16.


Loans


Analysis of the maturity of loans is given below:


28 March
31 March
2024
2023
£
£

Amounts falling due within one year

Bank loans
602,784
445,835

Other loans
11,442
19,470


614,226
465,305

Amounts falling due 1-2 years

Bank loans
638,861
774,909


638,861
774,909

Amounts falling due 2-5 years

Bank loans
742,626
1,234,796


742,626
1,234,796

Amounts falling due after more than 5 years

Bank loans
571,680
-

571,680
-

2,567,393
2,475,010


Page 23

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

17.


Deferred taxation






2024


£






At beginning of year
(523,216)


Charged to profit or loss
(268,772)



At end of year
(791,988)

The provision for deferred taxation is made up as follows:

28 March
31 March
2024
2023
£
£


Accelerated capital allowances
(791,988)
(523,216)

(791,988)
(523,216)


18.


Share capital

28 March
31 March
2024
2023
£
£
Allotted, called up and fully paid



75 (2023 - 75) Ordinary shares of £1.00 each
75
75
1 (2023 - 1) Ordinary irredeemable share of £1.00
1
1

76

76


Page 24

 
CAREBROOK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

19.


Reserves

Share premium account

Includes all premiums paid on the acquisition of share capital.

Profit and loss account

Includes all current and prior period retained profits and losses.


20.


Related party transactions

At the year end, an amount of £1,075,958 (2023: £433,773) was due to a companies under common control and an amount of £5,397,976 (2023: £3,113,752) was due from companies under common control.


21.


Controlling party

The immediate parent company is Carebrook Holdings Limited. The ultimate controlling party is G Loughran.

 
Page 25