Pelican Care Group Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Pelican Care Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09596207 . The registered office is C/O Holden Associates, V12, Merlin Park, Ringtail Road, Burscough, Lancashire, L40 8JY.

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:

Leasehold	equal instalments over the period of the lease
Musical Instruments	25% Reducing balance method
Fixtures & Fittings	25% Reducing balance method
Computer Equipment	33.33% Straight line method

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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.5. Lease incentives

The benefits of lease incentives are recognised in profit and loss account over the lease period.

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Pelican Care Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2023: 19)

4. Tangible Assets

	Land & Property
	Leasehold	Musical Instruments	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 June 2023	100,000	-	9,438	3,445	112,883
Additions	-	8,522	6,253	7,445	22,220
Disposals	-	-	-	(1,050 )	(1,050 )

As at 31 May 2024	100,000	8,522	15,691	9,840	134,053

Depreciation
As at 1 June 2023	20,000	-	5,082	2,621	27,703
Provided during the period	20,000	2,130	2,652	2,893	27,675
Disposals	-	-	-	(1,050 )	(1,050 )

As at 31 May 2024	40,000	2,130	7,734	4,464	54,328

Net Book Value
As at 31 May 2024	60,000	6,392	7,957	5,376	79,725

As at 1 June 2023	80,000	-	4,356	824	85,180

5. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	204,584	182,229
Other debtors	71,631	52,316

	276,215	234,545
Due after more than one year
Amounts owed by participating interests	372,333	8,610

	648,548	243,155

6. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	3,787	3,343
Other creditors	42,865	57,404
Taxation and social security	189,089	90,535

	235,741	151,282

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Pelican Care Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2024

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Amounts owed to participating interests	-	32,072

8. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

1880 Ltd

In the opinion of the director, the company is related to 1880 Ltd because both companies are under the ultimate control of T Ghannad by virtue of his majority shareholding.

During the year, the company made loans to 1880 Ltd totalling £0 (2022 - £3,500). The balance outstanding at the year end is £3,610 (2023 - £3,610). These loans are repayable on demand and no interest is charged.

PCG Holding Ltd

In the opinion of the director, the company is related to PCG Holdings Ltd because both companies are under the ultimate control of T Ghannad by virtue of his majority shareholding.

During the year, the company made loans to PCG Holdings Ltd totalling £39,481 (2023 - repayments - £34,283). The balance outstanding at the year end is £111,839 (2023 - (£27,642)). These loans are repayable on demand and no interest is charged.

The lease premium of £100,000 was paid within 12 months after the granting of a lease between PCG Holdings Ltd and Pelican Care Group Ltd on 1 September 2022.

Breath Mediation Ltd

In the opinion of the director, the company is related to Breath Mediation Ltd because both companies are under the ultimate control of T Ghannad by virtue of his majority shareholding.

Loan Write-Off Disclosure

During the financial year, the company held an outstanding loan balance due to Breath Mediation Ltd. As Breath Mediation Ltd has since been dissolved, the obligation to repay the loan has ceased. Accordingly, the loan has been written off in the financial statements. This write-off has been treated as a non-taxable adjustment, with no impact on the company’s taxable profits in accordance with applicable accounting and tax principles.

Zero Property Ltd

In the opinion of the director, the company is related to Zero Property Ltd because both companies are under the ultimate control of T Ghannad by virtue of his majority shareholding.

During the year, the company made a loan to Zero Property Ltd totalling £238,833 (2023 - £5,000). The balance outstanding at the year end is £243,833 (2023 - £5,000). These loans are repayable on demand and no interest is charged.

Tone Artist Services Ltd

In the opinion of the director, the company is related to Tone Artist Services Ltd because both companies are under the ultimate control of T Ghannad by virtue of his majority shareholding.

During the year, the company made a loan to Tone Artist Services Ltd totalling £13,050 (2023 - £0.00). The balance outstanding at the year end is £13,050 (2023 - £0). These loans are repayable on demand and no interest is charged.

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		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		79,725		85,180

			79,725		85,180
CURRENT ASSETS
Debtors	5	648,548		243,155
Cash at bank and in hand		622,566		529,594

		1,271,114		772,749
Creditors: Amounts Falling Due Within One Year	6	(235,741 )		(151,282 )

NET CURRENT ASSETS (LIABILITIES)			1,035,373		621,467

TOTAL ASSETS LESS CURRENT LIABILITIES			1,115,098		706,647

Creditors: Amounts Falling Due After More Than One Year	7		-		(32,072 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,931 )		(1,036 )

NET ASSETS			1,110,167		673,539

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			1,110,067		673,439

SHAREHOLDERS' FUNDS			1,110,167		673,539