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REGISTERED NUMBER: 02252544 (England and Wales)













Financial Statements

for the Year Ended 31 December 2024

for

Family Care Associates Limited

Family Care Associates Limited (Registered number: 02252544)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Family Care Associates Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: A O'Reilly
Mrs R L Brown
A T Williamson
P M Williamson





REGISTERED OFFICE: First Floor Offices
The Unit
Berry Way
Chorley
Lancashire
PR7 6RA





REGISTERED NUMBER: 02252544 (England and Wales)





AUDITORS: Mayes Business Partnership Ltd
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Family Care Associates Limited (Registered number: 02252544)

Abridged Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 626,704 611,942

CURRENT ASSETS
Debtors 5 1,184,087 1,053,322
Cash at bank and in hand 1,343,030 591,935
2,527,117 1,645,257
CREDITORS
Amounts falling due within one year 1,977,397 1,267,301
NET CURRENT ASSETS 549,720 377,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,176,424

989,898

CREDITORS
Amounts falling due after more than one year - (2,287 )

PROVISIONS FOR LIABILITIES - (6,020 )
NET ASSETS 1,176,424 981,591

CAPITAL AND RESERVES
Called up share capital 8 129,000 129,000
Share premium 29,000 29,000
Capital redemption reserve 20,000 20,000
Retained earnings 998,424 803,591
SHAREHOLDERS' FUNDS 1,176,424 981,591

Family Care Associates Limited (Registered number: 02252544)

Abridged Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2025 and were signed on its behalf by:




P M Williamson - Director



A T Williamson - Director


Family Care Associates Limited (Registered number: 02252544)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Family Care Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the provision of children's education and care home placements and is recognised on an accrued basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 25% on cost and 2% on cost
Fixtures and fittings - 33% on cost and 25% on cost
Motor vehicles - 25% on cost

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Family Care Associates Limited (Registered number: 02252544)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 104 (2023 - 100 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 1,303,239
Additions 113,997
Disposals (5,945 )
At 31 December 2024 1,411,291
DEPRECIATION
At 1 January 2024 691,297
Charge for year 99,235
Eliminated on disposal (5,945 )
At 31 December 2024 784,587
NET BOOK VALUE
At 31 December 2024 626,704
At 31 December 2023 611,942

Family Care Associates Limited (Registered number: 02252544)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows :


Motor VehiclesTotals
££
COST
At 1 January 202426,84426,844
Additions--
Disposals(11,044)(11,044)
Transfer to ownership--
At 31 December 202415,80015,800

DEPRECIATION
At 1 January 202416,51216,512
Charge for year3,9503,950
Disposals--
Transfer to ownership(8,283)(8,283)
At 31 December 202412,17912,179

NET BOOK VALUE
At 31 December 20243,6213,621

At 31 December 202310,33210,332

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Other debtors 18,836 14,520

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/12/24 31/12/23
£    £   
Net obligations repayable:
Within one year 2,287 3,935
Between one and five years - 2,287
2,287 6,222

Family Care Associates Limited (Registered number: 02252544)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31/12/24 31/12/23
£    £   
Between one and five years 262,801 288,875
In more than five years 712,356 778,246
975,157 1,067,121

7. SECURED DEBTS

The following secured debts are included within creditors:

31/12/24 31/12/23
£    £   
Hire purchase contracts 2,287 6,222

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/24 31/12/23
value: £    £   
100,000 Ordinary A £1 100,000 100,000
29,000 Ordinary B £1 29,000 29,000
129,000 129,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Fishwick FCCA (Senior Statutory Auditor)
for and on behalf of Mayes Business Partnership Ltd

10. CONTINGENT LIABILITIES

The company has entered into a Composite Accounting Agreement dated 17 July 2007 (The "Agreement"). Each participating related party (Dalepeak Limited, Family Care Fostering Limited, Family Care Associates Limited, Family Care Associates (Holdings) Limited and Young Alliance Limited) has provided a guarantee to Barclays Bank PLC. Under the terms of the Agreement and the cross guarantees, Barclays Bank PLC is authorised to allow set-off for interest purposes and in certain circumstances to seize credit balances and apply them in reduction of liabilities including debit balances within the Composite Accounting System. The maximum potential liability arising under this guarantee at the year end was £Nil (2023: £Nil).

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.