Company Registration No. 08445987 (England and Wales)
MioCare Services Ltd
Financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
MioCare Services Ltd
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
MioCare Services Ltd
Statement of financial position
As at 31 March 2025
31 March 2025
1
2025
2024
Notes
£
£
£
£
Current assets
Debtors
5
303,084
1,039,319
Cash at bank and in hand
25,027
180,927
328,111
1,220,246
Creditors: amounts falling due within one year
6
(784,496)
(1,584,555)
Net current liabilities
(456,385)
(364,309)
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
(456,386)
(364,310)
Total equity
(456,385)
(364,309)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 3 October 2025 and are signed on its behalf by:
Mr Adrian McCourt
Director
Company Registration No. 08445987
MioCare Services Ltd
Statement of changes in equity
For the year ended 31 March 2025
2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
1
(132,695)
(132,694)
Year ended 31 March 2024:
Loss and total comprehensive income
-
(231,615)
(231,615)
Balance at 31 March 2024
1
(364,310)
(364,309)
Year ended 31 March 2025:
Loss and total comprehensive income
-
(92,076)
(92,076)
Balance at 31 March 2025
1
(456,386)
(456,385)
MioCare Services Ltd
Notes to the financial statements
For the year ended 31 March 2025
3
1
Accounting policies
Company information

MioCare Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Ellesmere Street, Failsworth, Manchester, M35 9AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

MioCare Services Ltd generates the majority of its revenue from a contract with Oldham Council to deliver the Extra Care service, which has a maximum contract length through to 2026. The ability of the company to continue as a going concern is dependent on the continued commissioning of services by the Council.true

The directors have obtained confirmation of continued financial support from the Council for a period of no less than 12-months from the date of approval of said financial statements.

The Directors anticipate funding levels to continue at a similar level and therefore have a reasonable expectation that MioCare Services Ltd has adequate resources to continue in operation for the foreseeable future, being at least 12 months from the signing of these financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Income is received from Oldham Council under defined contractual arrangements. Income is recognised in the period in which the service under those contracts is provided.

Income is also received from a number of private clients for care and well-being services and income is recognised in the period that the service is delivered.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include d eposits held at call with banks.

MioCare Services Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

MioCare Services Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting judgements and key sources of estimation uncertainty

The directors have not applied any significant judgements or estimates in the preparation of the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
115
123
MioCare Services Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2025
6
4
Directors' remuneration

During the current and prior year, directors' remuneration was borne by MioCare Group Community Interest Company.

The Company does not contribute to personal pension plans of any directors.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
218,975
197,849
Amounts owed by group undertakings
-
0
754,655
Prepayments and accrued income
84,109
84,024
303,084
1,036,528
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
2,791
Total debtors
303,084
1,039,319

An impairment loss of £nil (2024: £nil) was recognised against trade debtors.

The amounts owed by group undertakings and parent company in the prior year are interest free and payable on demand.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
224
3,755
Amounts owed to group undertakings
697,108
1,488,296
Taxation and social security
43,408
62,235
Other creditors
43,756
30,269
784,496
1,584,555

Amounts owed to group undertakings and the parent company are interest free and payable on demand.

MioCare Services Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2025
7
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Short term timing differences
-
2,791
2025
Movements in the year:
£
Asset at 1 April 2024
(2,791)
Charge to profit or loss
2,791
Liability at 31 March 2025
-
8
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
105,372
94,836

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1

There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

MioCare Services Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2025
10
Audit report information (continued)
8
Senior Statutory Auditor:
Diane Petit-Laurent FCA
Statutory Auditors:
Saffery LLP
Date of audit report:
6 October 2025
11
Related party transactions

The company has taken advantage of the exemption in section 33 of Financial Reporting Standard 102 "Related party disclosures" and has not disclosed transactions with wholly owned group undertakings.

12
Parent company

The immediate parent company is MioCare Group Community Interest Company, a company registered in England and Wales.

The financial statements of the company are consolidated in the financial statements of MioCare Group Community Interest Company. These consolidated financial statements are available from its registered office, Ena Hughes Resource Centre, Ellesmere Street, Failsworth, Manchester, M35 9AD.

The ultimate controlling party is considered to be Oldham Council, by virtue of its 100% holding in the voting share capital of MioCare Group Community Interest Company.

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