REGISTERED NUMBER: 04940445 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHARING WAY LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

5

-

17,250

Tangible assets

6

1,749,222

1,781,439

1,749,222

1,798,689

CURRENT ASSETS

Debtors

7

474,137

167,845

Cash at bank and in hand

223,587

334,069

697,724

501,914

CREDITORS

Amounts falling due within one year

8

1,017,921

1,009,644

NET CURRENT LIABILITIES

(320,197

)

(507,730

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,429,025

1,290,959

PROVISIONS FOR LIABILITIES

9

41,211

31,794

NET ASSETS

1,387,814

1,259,165

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

1,387,714

1,259,065

SHAREHOLDERS' FUNDS

1,387,814

1,259,165

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Y M Osman - Director

1.	STATUTORY INFORMATION

Charing Way Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04940445

Registered office:

368 Forest Road

London

London

E17 5JF

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

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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures, fittings and equipment

-

25% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern

The company continues with the support of it's immediate parent company Eleiko (UK) Limited and ultimate parent company Charing Holdings Limited which will not allow any of it's creditors to suffer as a result of the Directors decision to allow the company to continue to trade under the circumstances.

Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 34 ) .

4.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the Company's auditors for the audit of the Company's financial statements

7,680

6,960

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

345,000

AMORTISATION

At 1 January 2024

327,750

Amortisation for year

17,250

At 31 December 2024

345,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

17,250

6.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Freehold

and

property

equipment

Totals

£

£

£

COST

At 1 January 2024

2,439,441

319,740

2,759,181

Additions

-

35,711

35,711

At 31 December 2024

2,439,441

355,451

2,794,892

DEPRECIATION

At 1 January 2024

716,792

260,950

977,742

Charge for year

44,302

23,626

67,928

At 31 December 2024

761,094

284,576

1,045,670

NET BOOK VALUE

At 31 December 2024

1,678,347

70,875

1,749,222

At 31 December 2023

1,722,649

58,790

1,781,439

Included in the cost of Freehold Property are qualifying Plant and Machinery of £721,700 (2023: £721,700) professionally valued in accordance with the Capital Allowances Act 2001.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

51,331

59,860

Amounts owed by group undertakings

420,000

105,000

Other debtors

2,806

2,985

474,137

167,845

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

11,783

30,023

Amounts owed to group undertakings

766,409

791,188

Taxation and social security

97,877

42,126

Other creditors

141,852

146,307

1,017,921

1,009,644

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

41,211

31,794

Deferred

tax

£

Balance at 1 January 2024

31,794

Provided during year

9,417

Balance at 31 December 2024

41,211

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 January 2024

1,259,065

Profit for the year

299,649

Dividends

(171,000

)

At 31 December 2024

1,387,714

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

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)

for and on behalf of Klein Evangelou

13.	RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2024

2023

£

£

Amounts owed by Group Undertakings

420,000

105,000

Amounts owed to Group Undertakings

766,409

791,188

Amounts written off amounts owed by Group Undertakings

1,200

1,487

Related Party Relationship:

Group Undertakings:

Charing Dale Limited

Charing Rose Limited

Charing Holdings Limited

Eleiko (UK) Limited

14.	POST BALANCE SHEET EVENTS

No significant events are noted after the period ended 31 December 2024 to the date of signing this report.

15.	CONTROLLING PARTY