Registration number:
Carelane Limited
for the Year Ended 31 December 2024
Carelane Limited
(Registration number: 03153150)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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|
Total assets less current liabilities |
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|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
|||
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Called up share capital |
100 |
100 |
|
|
Revaluation reserve |
1,894,660 |
1,894,660 |
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|
Retained earnings |
(2,041,567) |
(2,066,202) |
|
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Shareholders' deficit |
(146,807) |
(171,442) |
For the financial 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.
Director's responsibilities:
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• |
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• |
The director acknowledges her 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.
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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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......................................... |
Carelane Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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
At 31 December 2024 the company had net liabilities of £146,807 and net current liabilities of £3,143,440. Substantially all of the company's financial requirements have been met by G Smith-Bernal a former director of the company, who was owed £3,436,920 at 31 December 2024. G Smith-Bernal has confirmed that he will continue to provide such financial support as is necessary to enable the company to meet its liabilities as they fall due and these accounts have therefore been prepared on the going concern basis, which assumes that this will be the case.
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.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
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.
Carelane Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
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Asset class |
Depreciation method and rate |
|
Freehold Land and buildings |
nil |
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Plant and Machinery |
25% Reducing Balance |
|
Motor Vehicles |
25% Reducing Balance |
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Fixtures and Fittings |
25% Reducing Balance |
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 creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
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.
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Carelane Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
- |
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- |
- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
- |
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Charge for the year |
- |
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At 31 December 2024 |
- |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £3,279,160 (2023 - £3,279,160) in respect of freehold land and buildings.
Carelane Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
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Due within one year |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Other creditors |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Other borrowings |
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Related party transactions |
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Other transactions with the director |
Mr G Smith (former director), had a loan with the company. At the balance sheet date the amount owed to Mr G Smith was £3,436,920 (2023: £3,465,584).