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Registered number: 06729668
Holdcare Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 April 2024
Financial Statements
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—7
Consolidated Profit and Loss Account 8
Consolidated Statement of Comprehensive Income 9
Consolidated Balance Sheet 10
Company Balance Sheet 11
Consolidated Statement of Changes in Equity 12
Company Statement of Changes in Equity 13
Consolidated Statement of Cash Flows 14
Notes to the Consolidated Statement of Cash Flows 15
Notes to the Financial Statements 16—22
Page 1
Strategic Report
The directors present their strategic report for the year ended 30 April 2024.
Review of the Business
The Directors are satisfied with the results for the year which have been achieved in a challenging marketplace. Despite market pressures, occupancy has remained strong and fees remain  competitive as a result of the continual development of the focussed revenue strategy. 
We have taken steps to improve recruitment and retention plans by conducting a review of the terms and conditions for operational employees. The use of agency staffing remains below the industry average and learning and development opportunities and career pathways continue to be improved.
Principal Risks and Uncertainties
General types of risk faced by all businesses can be grouped into five broad categories: market risk (unexpected changes in interest rates); credit/default risk; operational risk (equipment failure, fraud); liquidity risk (inability to pay bills, inability to buy or sell commodities at quoted prices); and political risk (new regulations, new compliance, fiscal changes).
In addition, the financial future of a business enterprise can be dramatically altered by unpredictable events such as recession, or technological breakthroughs whose probability of occurrence cannot be reasonably quantified from historical data.
To a large extent, we have mitigated these risks by placing robust systems. E.g. the liquidity is closely monitored. Our team has built good reputation with social services and local community. We offer our staff flexible team rewarded by a competitive remuneration process which can adapt to any changes that are required.
Future Developments
Having overcome the challenges posed by Covid-19 we are confident that we can now move forward without any further complications. We expect a significant increase in the funded rate for next year which will further improve profitability.
Our strategic objectives remain unchanged and we will continue to enrich the lives of our current and future residents, by continuing to build on the foundations already in place.
On behalf of the board
A Khosla
Director
23 April 2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 April 2024.
Principal Activity
The principal activity of the company was that of a residential care home for the elderly.
Directors
The directors who held office during the year were as follows:
A Khosla
G Seaton
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Page 2
Page 3
Independent Auditors
The auditors, Hamilton Coopers , have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
A Khosla
Director
23 April 2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of Holdcare Limited (the "parent company") and its subsidiaries (the "group") for the year ended 30 April 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the group's and of the parent company's affairs as at 30 April 2024 and of the group's profit/(loss) 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 Auditor's 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 UK, including the FRC'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 directors' 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our 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. In connection with our audit of the financial statements, 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 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.
Page 4
Page 5
Opinions 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' 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 Directors' 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 or returns; or
  • certain disclosures of directors' 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 Directors' Responsibilities Statement set out on page 2—3, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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 auditor's 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Capability of the audit in 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.
...CONTINUED
Page 5
Page 6
Auditor's Responsibilities for the Audit of the Financial Statements - continued
Based on our understanding of the company and industry, and through discussion with the management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to their FCA permissions and requirements. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates and judgmental areas of the financial statements such as accrued income. 
Audit procedures performed by the engagement team included:
- Discussions with management and assessment of known or suspected instances of non compliance with laws and regulations and fraud; and
- Assessment of identified fraud risk factors; and
- Challenging assumptions and judgements made by management in its significant accounting estimates; and
-Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
-Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
-Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
- Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
There are inherent limitations in the audit procedures described above and the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the company's internal control.
-Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the members.
-Conclude on the appropriateness of the members' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' report. However, future events or conditions may cause the company to cease to continue as a going concern.
...CONTINUED
Page 6
Page 7
Auditor's Responsibilities for the Audit of the Financial Statements - continued
-Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's 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.
Asim Malik,, FCA (Senior Statutory Auditor)
for and on behalf of Hamilton Coopers , Statutory Auditor
23 April 2025
Hamilton Coopers
66 Earl Street
Maidstone
ME14 1PS
Page 7
Page 8
Consolidated Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 2 5,688,344 4,961,257
Cost of sales (3,610,129 ) (3,293,712 )
GROSS PROFIT 2,078,215 1,667,545
Administrative expenses (696,859 ) (589,031 )
OPERATING PROFIT 3 1,381,356 1,078,514
Other interest receivable and similar income 7 9,053 810
Interest payable and similar charges 8 (245,136 ) (140,338 )
PROFIT BEFORE TAXATION 1,145,273 938,986
Tax on Profit 9 (102,967 ) (192,887 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 1,042,306 746,099
The notes on pages 15 to 22 form part of these financial statements.
Page 8
Page 9
Consolidated Statement of Comprehensive Income
2024 2023
£ £
Profit for the financial year 1,042,306 746,099
Other comprehensive income for the year - -
Total comprehensive income for the year attributable to the owners of the parent 1,042,306 746,099
Page 9
Page 10
Consolidated Balance Sheet
Registered number: 06729668
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 10 7,224,765 7,235,153
7,224,765 7,235,153
CURRENT ASSETS
Debtors 12 1,099,420 681,228
Cash at bank and in hand 741,609 454,264
1,841,029 1,135,492
Creditors: Amounts Falling Due Within One Year 13 (753,761 ) (668,831 )
NET CURRENT ASSETS (LIABILITIES) 1,087,268 466,661
TOTAL ASSETS LESS CURRENT LIABILITIES 8,312,033 7,701,814
Creditors: Amounts Falling Due After More Than One Year 14 (3,019,038 ) (3,354,625 )
NET ASSETS 5,292,995 4,347,189
CAPITAL AND RESERVES
Called up share capital 16 120 120
Profit and Loss Account 5,292,875 4,347,069
SHAREHOLDERS' FUNDS 5,292,995 4,347,189
On behalf of the board
A Khosla
Director
23 April 2025
The notes on pages 15 to 22 form part of these financial statements.
Page 10
Page 11
Company Balance Sheet
Registered number: 06729668
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 11 120 120
120 120
TOTAL ASSETS LESS CURRENT LIABILITIES 120 120
NET ASSETS 120 120
CAPITAL AND RESERVES
Called up share capital 16 120 120
SHAREHOLDERS' FUNDS 120 120
In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 96,500 (2023: £ 82,000 profit).
On behalf of the board
A Khosla
Director
23 April 2025
The notes on pages 15 to 22 form part of these financial statements.
Page 11
Page 12
Consolidated Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 May 2022 120 3,682,970 3,683,090
Profit for the year and total comprehensive income - 746,099 746,099
Dividends paid - (82,000) (82,000)
As at 30 April 2023 and 1 May 2023 120 4,347,069 4,347,189
Profit for the year and total comprehensive income - 1,042,306 1,042,306
Dividends paid - (96,500) (96,500)
As at 30 April 2024 120 5,292,875 5,292,995
Page 12
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Company Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 May 2022 120 - 120
Profit for the year and total comprehensive income - 82,000 82,000
Dividends paid - (82,000) (82,000)
As at 30 April 2023 and 1 May 2023 120 - 120
Profit for the year and total comprehensive income - 96,500 96,500
Dividends paid - (96,500) (96,500)
As at 30 April 2024 120 - 120
Page 13
Page 14
Consolidated Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 1,098,378 872,340
Interest paid (245,136 ) (140,338 )
Tax paid (101,786 ) (117,216 )
Net cash generated from operating activities 751,456 614,786
Cash flows from investing activities
Purchase of tangible assets (16,638 ) (19,486 )
Interest received 9,053 810
Net cash used in investing activities (7,585 ) (18,676 )
Cash flows from financing activities
Equity dividends paid (96,500 ) (82,000 )
Repayment of bank borrowings (335,587 ) (393,310 )
Amount withdrawn by directors (24,439) (20,000)
Net cash used in financing activities (456,526 ) (495,310 )
Increase in cash and cash equivalents 287,345 100,800
Cash and cash equivalents at beginning of year 2 454,264 353,464
Cash and cash equivalents at end of year 2 741,609 454,264
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Notes to the Consolidated Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 1,042,306 746,099
Adjustments for:
Tax on profit 102,967 192,887
Interest expense 245,136 140,338
Interest income (9,053 ) (810 )
Depreciation of tangible assets 27,026 28,897
Movements in working capital:
(Increase)/decrease in trade and other debtors (418,192 ) 66,960
Increase/(decrease) in trade and other creditors 108,188 (302,031 )
Net cash generated from operations 1,098,378 872,340
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 741,609 454,264
3. Analysis of changes in net debt
As at 1 May 2023 Cash flows As at 30 April 2024
£ £ £
Cash at bank and in hand 454,264 287,345 741,609
Debts falling due after more than one year (3,354,625) 335,587 (3,019,038)
(2,900,361) 622,932 (2,277,429)
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
1.2. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 30 April 2024.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
1.3. Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
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1.4. 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.
1.5. 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:
Freehold See below
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
No depreciation is provided in respect of freehold properties based on the directors' assessment that the carrying value is substantially lower than the residual value. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that this policy results in the financial statements giving a true and fair view.
1.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
1.7. 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 group'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.
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1.7. Taxation - continued
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. Turnover by Geographic Analysis
Analysis of turnover by geographical market is as follows:
2024 2023
£ £
United Kingdom 5,688,344 4,961,258
5,688,344 4,961,258
3. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets 27,026 28,897
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 3,776 3,719
5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 3,003,170 2,793,116
Social security costs 209,401 156,736
Other pension costs 44,584 41,912
3,257,155 2,991,764
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6. Average Number of Employees
Group
Average number of employees, including directors, during the year was as follows:
2024 2023
118 110
Company
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
7. Interest Receivable and Similar Income
2024 2023
£ £
Other interest receivable type A 9,053 810
9,053 810
8. Interest Payable
2024 2023
£ £
Bank loans and overdrafts 245,136 140,338
245,136 140,338
9. Tax on Profit
Tax Rate 2024 2023
2024 2023 £ £
UK Corporation Tax 25.0% 19.0% 287,155 192,887
Prior period adjustment (184,188 ) -
Total Current Tax Charge 102,967 192,887
Total tax charge for the period 102,967 192,887
2024 2023
£ £
Profit before tax 1,145,273 938,986
Breakdown of tax charge is:
Tax on profit at 25% (UK standard rate) 246,786 178,408
...CONTINUED
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Expenses not deductible for tax purposes 4,284 14,479
Prior period adjustment (184,188 ) -
Difference in tax rates 36,085 -
Total tax charge for the period 102,967 192,887
10. Tangible Assets
Group
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 7,127,875 750,560 877,657 8,756,092
Additions - 7,684 8,954 16,638
As at 30 April 2024 7,127,875 758,244 886,611 8,772,730
Depreciation
As at 1 May 2023 - 679,406 841,533 1,520,939
Provided during the period - 16,138 10,888 27,026
As at 30 April 2024 - 695,544 852,421 1,547,965
Net Book Value
As at 30 April 2024 7,127,875 62,700 34,190 7,224,765
As at 1 May 2023 7,127,875 71,154 36,124 7,235,153
Company
The company had no tangible fixed assets as at 30 April 2024 or 30 April 2023.
11. Investments
Company
Unlisted
£
Cost
As at 1 May 2023 120
As at 30 April 2024 120
Provision
As at 1 May 2023 -
As at 30 April 2024 -
...CONTINUED
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Net Book Value
As at 30 April 2024 120
As at 1 May 2023 120
12. Debtors
Group Company
2024 2023 2024 2023
£ £ £ £
Due within one year
Trade debtors 779,843 638,786 - -
Prepayments and accrued income 236,624 1,191 - -
Other debtors 82,953 41,251 - -
1,099,420 681,228 - -
13. Creditors: Amounts Falling Due Within One Year
Group
2024 2023
£ £
Trade creditors 172,565 133,126
Corporation tax 287,155 285,974
Other taxes and social security 59,253 48,259
Net wages - 26,302
Other creditors - 140,035
Accruals and deferred income 229,493 5,400
Directors' loan accounts 5,295 29,734
Amounts owed to group undertakings - 1
753,761 668,831
14. Creditors: Amounts Falling Due After More Than One Year
Group
2024 2023
£ £
Bank loans 3,019,038 3,354,625
3,019,038 3,354,625
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15. Loans
An analysis of the maturity of loans is given below:
Group
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 3,019,038 3,354,625
3,019,038 3,354,625
16. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
17. Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £44,584 (2023: £41,912).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
18. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 96,500 82,000
96,500 82,000
19. General Information
Holdcare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06729668 . The registered office is 45 Mymms Drive, Brookmans Park, Hatfield, Hertfordshire, AL9 7AE.
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