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Company registration number: 11106967
Elite Care North West Limited
Unaudited filleted financial statements
31 December 2023
Elite Care North West Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Elite Care North West Limited
Directors and other information
Directors
Miss Emma Jayne Johnson
Miss Kathryn Elizabeth Naughton
Company number 11106967
Registered office 29 Chiltern Crescent
Warrington
Lancashire
WN2 9SY
Business address 3 Tarnway
Lowton
Warrington
Cheshire
WA3 2QJ
Accountant Practical Business Solutions (NW) Limited
749A Ormskirk Road
Pemberton
Wigan
Lancashire
WN5 8AT
Elite Care North West Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Elite Care North West Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Elite Care North West Limited for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Chartered Institute of Management Accountants , I am subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.
This report is made solely to the board of directors of Elite Care North West Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Elite Care North West Limited and state those matters that we have agreed to state to the board of directors of Elite Care North West Limited as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Elite Care North West Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Elite Care North West Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elite Care North West Limited. You consider that Elite Care North West Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Elite Care North West Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Practical Business Solutions (NW) Limited
Chartered Global Management Accountants
749A Ormskirk Road
Pemberton
Wigan
Lancashire
WN5 8AT
8 April 2025
Elite Care North West Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 86,245 56,667
_______ _______
86,245 56,667
Current assets
Debtors 6 308,797 100,702
Cash at bank and in hand 92,892 163,057
_______ _______
401,689 263,759
Creditors: amounts falling due
within one year 7 ( 349,589) ( 295,048)
_______ _______
Net current assets/(liabilities) 52,100 ( 31,289)
_______ _______
Total assets less current liabilities 138,345 25,378
Creditors: amounts falling due
after more than one year 8 ( 13,677) ( 23,177)
Provisions for liabilities ( 15,610) ( 10,848)
_______ _______
Net assets/(liabilities) 109,058 ( 8,647)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 108,958 ( 8,747)
_______ _______
Shareholders funds/(deficit) 109,058 ( 8,647)
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 April 2025 , and are signed on behalf of the board by:
Miss Emma Jayne Johnson
Director
Company registration number: 11106967
Elite Care North West Limited
Statement of changes in equity
Year ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 100 ( 75,038) ( 74,938)
Profit for the year 66,291 66,291
_______ _______ _______
Total comprehensive income for the year - 66,291 66,291
_______ _______ _______
At 31 December 2022 and 1 January 2023 100 (8,746) (8,646)
Profit for the year 175,704 175,704
_______ _______ _______
Total comprehensive income for the year - 175,704 175,704
Dividends paid and payable ( 58,000) ( 58,000)
_______ _______ _______
Total investments by and distributions to owners - ( 58,000) ( 58,000)
_______ _______ _______
At 31 December 2023 100 108,958 109,058
_______ _______ _______
Elite Care North West Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 29 Chiltern Crescent, Warrington, Lancashire, WN2 9SY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 the 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 are 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 are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 33 % reducing balance
Website - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 110 (2022: 97 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 1,688,422 1,487,449
Social security costs 106,095 91,462
Other pension costs 24,300 16,519
_______ _______
1,818,817 1,595,430
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Website Total
£ £ £ £
Cost
At 1 January 2023 18,959 50,503 2,819 72,281
Additions 4,693 46,500 838 52,031
_______ _______ _______ _______
At 31 December 2023 23,652 97,003 3,657 124,312
_______ _______ _______ _______
Depreciation
At 1 January 2023 11,743 1,052 2,819 15,614
Charge for the year 2,990 19,376 87 22,453
_______ _______ _______ _______
At 31 December 2023 14,733 20,428 2,906 38,067
_______ _______ _______ _______
Carrying amount
At 31 December 2023 8,919 76,575 751 86,245
_______ _______ _______ _______
At 31 December 2022 7,216 49,451 - 56,667
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 49,833 98,795
Other debtors 258,964 1,907
_______ _______
308,797 100,702
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 11,506 10,989
Corporation tax 59,040 1,523
Social security and other taxes 82,416 52,458
Other creditors 196,627 230,078
_______ _______
349,589 295,048
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 13,677 23,177
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Miss Emma Jayne Johnson 1,907 ( 59,004) 153,123 96,026
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Miss Emma Jayne Johnson - ( 36,567) 38,474 1,907
_______ _______ _______ _______
During the year the Director received a loan from the Company and Interest was charged at 2.25%per annum.