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Registration number: 02689758

Cheshire Care Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Cheshire Care Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Cheshire Care Limited

(Registration number: 02689758)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,320

5,220

Tangible assets

5

37,861

39,061

 

40,181

44,281

Current assets

 

Stocks

6

3,370

4,350

Debtors

7

177,957

138,820

Cash at bank and in hand

 

-

25

 

181,327

143,195

Creditors: Amounts falling due within one year

8

(118,989)

(131,702)

Net current assets

 

62,338

11,493

Net assets

 

102,519

55,774

Capital and reserves

 

Called up share capital

100

100

Retained earnings

102,419

55,674

Shareholders' funds

 

102,519

55,774

For the financial year ending 31 December 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 Profit and Loss Account.

 

Cheshire Care Limited

(Registration number: 02689758)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 26 March 2025
 

.........................................
Mr S Reynolds
Director

.........................................
Mrs D Reynolds
Company secretary

 

Cheshire Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fairfield House
72 St Helens Road
Leigh
Lancashire
WN7 4HW

These financial statements were authorised for issue by the director on 26 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 accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Cheshire Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property Improvements

2% Straight Line

Fixtures & Fittings

15% Straight Line

Computer Equipment

33% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

 

Cheshire Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 43 (2023 - 38).

 

Cheshire Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

29,000

29,000

At 31 December 2024

29,000

29,000

Amortisation

At 1 January 2024

23,780

23,780

Amortisation charge

2,900

2,900

At 31 December 2024

26,680

26,680

Carrying amount

At 31 December 2024

2,320

2,320

At 31 December 2023

5,220

5,220

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

60,104

16,729

76,833

At 31 December 2024

60,104

16,729

76,833

Depreciation

At 1 January 2024

21,043

16,729

37,772

Charge for the year

1,200

-

1,200

At 31 December 2024

22,243

16,729

38,972

Carrying amount

At 31 December 2024

37,861

-

37,861

At 31 December 2023

39,061

-

39,061

 

Cheshire Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Finished goods

3,370

4,350

7

Debtors

Current

2024
£

2023
£

Trade debtors

126,686

81,002

Other debtors

51,271

57,818

 

177,957

138,820

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

55,192

94,245

Trade creditors

 

324

560

Taxation and social security

 

55,783

32,595

Accruals and deferred income

 

5,457

2,200

Other creditors

 

2,233

2,102

 

118,989

131,702

The Royal Bank Of Scotland PLC hold a fixed and floating charge over the company in relation to the bank overdraft included within "Loans and borrowings" of £55,192 (2021: £94,245). The charge covers all undertakings and all property and assets present and future including goodwill, uncalled, capital, buildings, fixtures, plant and machinery.

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

55,192

94,245

 

Cheshire Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

57,818

165,177

(171,724)

51,271

 

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

14,200

155,315

(111,697)

57,818