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Registration number: 03583265

Candlelight Homecare Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Candlelight Homecare Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Candlelight Homecare Services Limited

(Registration number: 03583265)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,373

6,760

Tangible assets

5

268,052

278,277

 

273,425

285,037

Current assets

 

Debtors

6

581,565

412,903

Cash at bank and in hand

 

634,667

692,060

 

1,216,232

1,104,963

Creditors: Amounts falling due within one year

7

(391,131)

(288,398)

Net current assets

 

825,101

816,565

Total assets less current liabilities

 

1,098,526

1,101,602

Creditors: Amounts falling due after more than one year

7

-

(1,924)

Provisions for liabilities

3,889

(4,823)

Net assets

 

1,102,415

1,094,855

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,102,315

1,094,755

Shareholders' funds

 

1,102,415

1,094,855

 

Candlelight Homecare Services Limited

(Registration number: 03583265)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

Mr J P D Catley-Day
Director

   
     
 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Candlelight House
King Street
Glastonbury
Somerset
BA6 9JY

These financial statements were authorised for issue by the Board on 4 June 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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The accounts are prepared on a going concern basis.

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 and deferred 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.

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Freehold land & buildings

Land - not depreciated. Buildings - not depreciated if useful life is estimated to be over 60 years

Leasehold land & buildings

Over the term of the lease

Fixtures, fittings and equipment

10% Straight line

Motor vehicles

25 - 33% Straight line

Computer software and 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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 directors) during the year was 166 (2023 - 127).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

134,530

134,530

At 30 September 2024

134,530

134,530

Amortisation

At 1 October 2023

127,770

127,770

Amortisation charge

1,387

1,387

At 30 September 2024

129,157

129,157

Carrying amount

At 30 September 2024

5,373

5,373

At 30 September 2023

6,760

6,760

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Freehold land and buildings
£

Fixtures, fittings and equipment
£

Computer software and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

175,433

27,177

111,903

93,324

407,837

Additions

-

741

5,560

40,332

46,633

Disposals

-

(1,375)

-

(750)

(2,125)

At 30 September 2024

175,433

26,543

117,463

132,906

452,345

Depreciation

At 1 October 2023

-

13,682

101,482

14,396

129,560

Charge for the year

-

1,924

9,226

43,906

55,056

Eliminated on disposal

-

(135)

-

(188)

(323)

At 30 September 2024

-

15,471

110,708

58,114

184,293

Carrying amount

At 30 September 2024

175,433

11,072

6,755

74,792

268,052

At 30 September 2023

175,433

13,495

10,421

78,928

278,277

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

242,619

112,537

Amounts owed by related parties

10

3,684

375

Other debtors

 

335,262

299,991

 

581,565

412,903

7

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

8

1,924

5,529

Trade creditors

 

48,861

20,053

Amounts due to related parties

10

5,268

5,612

Social security and other taxes

 

81,488

84,188

Other creditors

 

44,462

15,347

Accruals

 

209,128

157,669

 

391,131

288,398

Due after one year

 

Loans and borrowings

8

-

1,924


The bank loans and borrowings totalling £1,924 (2022 - £7,453) is secured by way of a fixed and floating charge over the assets of the company.

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

1,924

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,924

5,529

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £37,791 (2023 - £98,529).

10

Related party transactions

Loans to related parties

2024

Associates
£

Key management
£

Total
£

At start of period

-

375

375

Advanced

3,684

-

3,684

Repaid

-

(375)

(375)

At end of period

3,684

-

3,684

2023

Key management
£

Total
£

At start of period

750

750

Repaid

(375)

(375)

At end of period

375

375

Terms of loans to related parties

Loans to key management are charged at the HMRC official rate of interest, and are repayable on demand.
 

 

Candlelight Homecare Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Loans from related parties

2024

Key management
£

Total
£

At start of period

5,612

5,612

Repaid

(344)

(344)

At end of period

5,268

5,268

2023

Key management
£

Total
£

Advanced

5,612

5,612

At end of period

5,612

5,612

Terms of loans from related parties

Loans from key management are interest free and repayable on demand.