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REGISTERED NUMBER: 07278578 (England and Wales)








Audited Financial Statements

for the Year Ended

30 September 2024

for

Upward Care Limited

Upward Care Limited (Registered number: 07278578)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Upward Care Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: N C Drury
S M Griffiths





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 07278578 (England and Wales)





AUDITORS: Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Upward Care Limited (Registered number: 07278578)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 31,935 29,955

CURRENT ASSETS
Debtors 5 1,626,660 1,700,562
Cash at bank and in hand 596,414 282,086
2,223,074 1,982,648
CREDITORS
Amounts falling due within one year 6 1,152,842 940,347
NET CURRENT ASSETS 1,070,232 1,042,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,102,167

1,072,256

PROVISIONS FOR LIABILITIES 8,000 7,500
NET ASSETS 1,094,167 1,064,756

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,094,066 1,064,655
SHAREHOLDERS' FUNDS 1,094,167 1,064,756

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

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 30 May 2025 and were signed on its behalf by:





N C Drury - Director


Upward Care Limited (Registered number: 07278578)

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

1. STATUTORY INFORMATION

Upward Care 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.
Turnover from the provision of care is recognised according to the date the service is carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

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.

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 302 (2023 - 314 ) .

Upward Care Limited (Registered number: 07278578)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023 37,308 48,485 85,793
Additions - 9,237 9,237
At 30 September 2024 37,308 57,722 95,030
DEPRECIATION
At 1 October 2023 20,362 35,476 55,838
Charge for year 1,695 5,562 7,257
At 30 September 2024 22,057 41,038 63,095
NET BOOK VALUE
At 30 September 2024 15,251 16,684 31,935
At 30 September 2023 16,946 13,009 29,955

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,084,305 1,133,856
Amounts owed by group undertakings 457,745 527,018
Amounts owed by participating interests 64,974 23,134
Other debtors 19,636 16,554
1,626,660 1,700,562

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21,157 29,786
Amounts owed to participating interests 12,535 544
Taxation and social security 728,728 551,668
Other creditors 390,422 358,349
1,152,842 940,347

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

The Report of the Auditors was unqualified.

Mark Howell FCA (Senior Statutory Auditor)
for and on behalf of Nicklin Audit Limited

8. OTHER FINANCIAL COMMITMENTS

At 30 September 2024 the company has operating lease commitments of £184,485 (2023 - £184,898).

Upward Care Limited (Registered number: 07278578)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. RELATED PARTY DISCLOSURES

Midland Properties (West Midlands) Limited
A company in which N Drury is a director

During the year the company has paid rent of £31,615 (2023: £31,615) is respect of its business premises to Midland Properties (West Midlands) Limited.

Upward (Property Estates) Limited
A company under common control

During the year rent and other costs of £57,422 (2023: £54,726) was paid to Upward (Property Estates) Limited.

The amount due from the related party at the balance sheet date was £64,974 (2023: £32,273).

Upward Developments (West Midlands) Limited
A company under common control

During the year Upward Developments (West Midlands) has recharged expenses of £Nil (2023: £1,932).

The amount due to the related party at the balance sheet date was £6,451 (2023: £544).

Sivic Investments Limited
A company in which S M Griffiths is a director

During the year consultancy fees of £30,000 (2023 £30,000) were paid to Sivic Investments Limited.

The amount due from the related party at the balance sheet date was £Nil (2023: £780).

Upward Enterprises Limited
Parent company

During the year the company paid dividends of £1,632,000 (2023: £1,530,000) on its A ordinary shares to Upward Enterprises Limited.

The amount due from the related party at the balance sheet date was £457,745 (2023: £494,745).

Upward Housing CIC
A company under common control

During the year expenses were recharged of £100,819 (2023: £91,670) and purchases were made of £17,317 (2023: £22,159) to Upward Housing CIC.

The amount due to the related party at the balance sheet date was £6,084 (2023:£22,354 due from).

10. ULTIMATE PARENT COMPANY

The ultimate parent company of Upward Care Limited is Upward Enterprises Limited, a company with a principal place of business at Bloxwich Hall, Elmore Court, Elmore Green Road, Walsall, West Midlands WS3 2QW.