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COMPANY REGISTRATION NUMBER: 06198845
Generations Care Agency Limited
Filleted Unaudited Abridged Financial Statements
31 August 2024
Generations Care Agency Limited
Abridged Financial Statements
Year Ended 31 August 2024
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 5
Generations Care Agency Limited
Abridged Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
977
3,680
Current Assets
Debtors
184,340
96,342
Cash at bank and in hand
205,228
258,602
---------
---------
389,568
354,944
Creditors: amounts falling due within one year
99,583
81,466
---------
---------
Net Current Assets
289,985
273,478
---------
---------
Total Assets Less Current Liabilities
290,962
277,158
Provisions
Taxation including deferred tax
244
920
---------
---------
Net Assets
290,718
276,238
---------
---------
Capital and Reserves
Called up share capital
6
75
75
Other reserves
25
25
Profit and loss account
290,618
276,138
---------
---------
Shareholders Funds
290,718
276,238
---------
---------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Generations Care Agency Limited
Abridged Statement of Financial Position (continued)
31 August 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
K J Johnson
Director
Company registration number: 06198845
Generations Care Agency Limited
Notes to the Abridged Financial Statements
Year Ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 29-31 Clock Tower Business Centre, Works Road, Chesterfield, Derbyshire, S43 2PE.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents care fees earned during the period.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Equipment
-
15% straight line
Fixtures and fittings
-
15% reducing balance
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 44 (2023: 41 ).
5. Tangible assets
£
Cost
At 1 September 2023
20,406
Disposals
( 12,384)
--------
At 31 August 2024
8,022
--------
Depreciation
At 1 September 2023
16,726
Charge for the year
92
Disposals
( 9,773)
--------
At 31 August 2024
7,045
--------
Carrying amount
At 31 August 2024
977
--------
At 31 August 2023
3,680
--------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
75
75
75
75
----
----
----
----
7. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
1,116
1,023
Later than 1 year and not later than 5 years
3,441
4,557
-------
-------
4,557
5,580
-------
-------
8. Related party transactions
During the year balances were outstanding between the company and its related parties. Amounts due from/(to) the related companies:
2024 2023
£ £
Amounts owed from related parties 24,000 30,000
All outstanding balances with related parties are unsecured, interest free, and payable on demand.