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Registration number: 12935772

The Right Home Care Team Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

The Right Home Care Team Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5 to 6

Notes to the Unaudited Financial Statements

7 to 13

 

The Right Home Care Team Ltd

Company Information

Directors

Mrs Vicki Allison

Mrs Lisa Michelle Rickett

Richard Allison

Registered office

CLOWNE BUSINESS CENTRE
CROWN STREET
CLOWNE
CHESTERFIELD
S43 4DN

Accountants

M.G. Walker & Co. Limited
119a High Street
Clay Cross
Chesterfield
Derbyshire
S45 9DZ

 

The Right Home Care Team Ltd

Directors' Report for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Vicki Allison

Mrs Lisa Michelle Rickett

The following director was appointed after the year end:

Richard Allison (appointed 2 January 2025)

Principal activity

The principal activity of the company is Non- residential care activities for the elderly and disabled

Small companies provision statement

This report has 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 9 June 2025 and signed on its behalf by:
 

.........................................
Mrs Vicki Allison
Director

.........................................
Mrs Lisa Michelle Rickett
Director

.........................................
Richard Allison
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Right Home Care Team Ltd
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Right Home Care Team Ltd for the year ended 31 October 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants (AIA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of The Right Home Care Team Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Right Home Care Team Ltd and state those matters that we have agreed to state to the Board of Directors of The Right Home Care Team Ltd, as a body, in this report in accordance with AIA . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Right Home Care Team Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Right Home Care Team Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Right Home Care Team Ltd. You consider that The Right Home Care Team Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Right Home Care Team Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

M.G. Walker & Co. Limited
119a High Street
Clay Cross
Chesterfield
Derbyshire
S45 9DZ

9 June 2025

 

The Right Home Care Team Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 October 2024

Note

2024
£

2023
£

Turnover

 

1,234,905

1,082,859

Cost of sales

 

(21,527)

(14,969)

Gross profit

 

1,213,378

1,067,890

Distribution costs

 

(8,005)

(8,863)

Administrative expenses

 

(1,130,435)

(1,038,339)

Operating profit

 

74,938

20,688

Interest payable and similar charges

 

(7,682)

(5,901)

 

(7,682)

(5,901)

Profit before tax

4

67,256

14,787

Taxation

 

(14,351)

(2,079)

Profit for the financial year

 

52,905

12,708

Retained earnings brought forward

 

(29,158)

(41,866)

Dividends paid

 

(23,746)

-

Retained earnings carried forward

 

1

(29,158)

 

The Right Home Care Team Ltd

(Registration number: 12935772)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

7,053

8,949

Tangible assets

6

8,231

7,427

 

15,284

16,376

Current assets

 

Debtors

7

102,899

50,455

Cash at bank and in hand

 

1,638

8,335

 

104,537

58,790

Creditors: Amounts falling due within one year

8

(116,103)

(90,068)

Net current liabilities

 

(11,566)

(31,278)

Total assets less current liabilities

 

3,718

(14,902)

Creditors: Amounts falling due after more than one year

8

(3,217)

(13,756)

Net assets/(liabilities)

 

501

(28,658)

Capital and reserves

 

Called up share capital

9

500

500

Retained earnings

1

(29,158)

Shareholders' funds/(deficit)

 

501

(28,658)

For the financial year ending 31 October 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 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 9 June 2025 and signed on its behalf by:
 

.........................................
Mrs Vicki Allison
Director

 

The Right Home Care Team Ltd

(Registration number: 12935772)
Balance Sheet as at 31 October 2024

.........................................
Mrs Lisa Michelle Rickett
Director

.........................................
Richard Allison
Director

 

The Right Home Care Team Ltd

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

1

General information

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

The address of its registered office is:
CLOWNE BUSINESS CENTRE
CROWN STREET
CLOWNE
CHESTERFIELD
S43 4DN
England

These financial statements were authorised for issue by the Board on 9 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.

Going concern

The financial statements have been 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 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.

 

The Right Home Care Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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

Other tangible assets

33% straight line

Furniture fittings and equipment

10% straight line

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

Internally generated software development costs

20% 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.

Trade 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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

 

The Right Home Care Team Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 54 (2023 - 59).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

3,830

7,723

Amortisation expense

1,896

529

 

The Right Home Care Team Ltd

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

5

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 November 2023

9,478

9,478

At 31 October 2024

9,478

9,478

Amortisation

At 1 November 2023

529

529

Amortisation charge

1,896

1,896

At 31 October 2024

2,425

2,425

Carrying amount

At 31 October 2024

7,053

7,053

At 31 October 2023

8,949

8,949

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

3,725

1,500

22,453

27,678

Additions

439

-

4,195

4,634

At 31 October 2024

4,164

1,500

26,648

32,312

Depreciation

At 1 November 2023

943

-

19,308

20,251

Charge for the year

417

300

3,113

3,830

At 31 October 2024

1,360

300

22,421

24,081

Carrying amount

At 31 October 2024

2,804

1,200

4,227

8,231

At 31 October 2023

2,782

1,500

3,145

7,427

 

The Right Home Care Team Ltd

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

50,742

32,337

Amounts owed by related parties

11

-

4,309

Prepayments

 

5,680

5,034

Other debtors

 

46,477

8,775

   

102,899

50,455

 

The Right Home Care Team Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

20,894

31,441

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

8,361

-

Taxation and social security

 

67,535

49,911

Accruals and deferred income

 

2,317

2,825

Other creditors

 

16,996

5,891

 

116,103

90,068

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

3,217

13,756

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

500

500

500

500

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,217

5,651

Other borrowings

-

8,105

3,217

13,756

Current loans and borrowings

 

The Right Home Care Team Ltd

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

2024
£

2023
£

Bank borrowings

2,434

2,452

Bank overdrafts

10,355

13,520

Other borrowings

8,105

15,469

20,894

31,441

11

Related party transactions

A loan has been issued to a participant on 31st October 2023 of £2,809 which was repaid on 1st November 2023.

A loan has been issued to a participant in the year ended 31st October 2023 of £1,500 all of which repaid on or before 31st July 2023

Both loans were interest free.