Careco Limited

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the director on the preparation of the unaudited statutory accounts of Careco Limited for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Careco Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the director of Careco Limited , 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 Careco Limited and state those matters that we have agreed to state to the director of Careco Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Careco Limited and its director as a body for our work or for this report.

It is your duty to ensure that Careco Limited 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 or loss of Careco Limited . You consider that Careco Limited 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 Careco Limited . 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 financial statements.

24 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Careco Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: SC161403

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		360		148,861
Investment Properties	5		148,090		-

			148,450		148,861
CURRENT ASSETS
Debtors	6	65,850		124,677
Cash at bank and in hand		344,643		2,447

		410,493		127,124
Creditors: Amounts Falling Due Within One Year	7	(300,697 )		(14,042 )

NET CURRENT ASSETS (LIABILITIES)			109,796		113,082

TOTAL ASSETS LESS CURRENT LIABILITIES			258,246		261,943

Creditors: Amounts Falling Due After More Than One Year	8		(9,812 )		(18,602 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(90 )		-

NET ASSETS			248,344		243,341

CAPITAL AND RESERVES
Called up share capital			263,500		263,500
Profit and Loss Account			(15,156 )		(20,159 )

SHAREHOLDERS' FUNDS			248,344		243,341

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Careco Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr A Mair

Director

23 September 2025

The notes on pages 4 to 7 form part of these financial statements.

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Careco Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Careco Limited is a private company, limited by shares, incorporated in Scotland, registered number SC161403 . The registered office is Invery House, Banchory, AB31 6NJ.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis on the confirmation from the director that the company will continue to trade for a period of no less than 12 months from the date of this report.

The directors acknowledges the negative balance sheet position and have given assurance that they will continue to support the company in order for it to meet it's obligations as they fall due by making funds available and ensuring that loans from associates are not called on for repayment until the company is in such a position to be able to make repayments.

2.3. Turnover

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

2.4. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% on cost

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these adjustments at the rate expected to apply when the properties are sold.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Careco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Land & Property
	Freehold	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	148,090	4,009	152,099
Transfers	(148,090 )	-	(148,090 )

As at 31 December 2024	-	4,009	4,009

Depreciation
As at 1 January 2024	-	3,238	3,238
Provided during the period	-	411	411

As at 31 December 2024	-	3,649	3,649

Net Book Value
As at 31 December 2024	-	360	360

As at 1 January 2024	148,090	771	148,861

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Careco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	-
Transfers	148,090

As at 31 December 2024	148,090

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2024	2023
	£	£
Cost	148,090	-

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	36,884	36,042
Director's loan account	26,472	86,114
Amounts owed by other participating interests	2,494	2,521

	65,850	124,677

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	-	138
Bank loans and overdrafts	6,458	7,458
Corporation tax	841	-
VAT	11,053	-
Other creditors	191,865	6,446
Accruals and deferred income	90,480	-

	300,697	14,042

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	9,812	18,602

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
Deferred taxation	90	90

Balance at 31 December 2024	90	90

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Careco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Alexander Mair	86,114	37,004	(96,646 )	-	26,472

The above loan is interest free and has no fixed repayment terms.

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