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Registered number: 04660475
PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
REGISTERED NUMBER: 04660475
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D J Price (appointed Vice Chair 01 April 2025, appointed Chair 24 September 2025)
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The notes on pages 2 to 12 form part of these financial statements.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Partners in Care is a not for profit organisation representing over 280 independent nursing, residential and domiciliary care companies, providing a wide range of care services and support for those most in need, including the provision of training, advice and guidance for its members, their managers and staff.
The Company sells its services within England.
The Company is a private company limited by guarantee and is incorporated and domiciled in England.
The address of its registered office is 6 The Farriers, Annscroft, Shrewsbury, SY5 8AN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
In light of the potential changes to the public sector income streams, the Directors have reviewed the cash position and forecasts of the Company and believe that it has sufficient reserves and funding in place in order to meet their liabilities as they fall due for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance methods.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the Directors there are are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
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The average monthly number of employees, including directors, during the year was 17 (2024 - 19).
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charge for the year on owned assets
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Raw materials and consumables
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Prepayments and accrued income
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Cash and cash equivalents
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Included within the cash at bank figure is an amount of £113,465 (2024: £44,399) which relates to deferred income. A number of projects have been agreed for the use of this money.
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The directors can confirm that a number of projects have been agreed for the use of the deferred income of £113,465 (2024: £44,399).
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Profit and loss account
The profit and loss account reserve represents the accumulated profits of the Company since incorporation.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £39,966 (2024: £36,995). No contributions were payable to the fund at the balance sheet date.
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Commitments under operating leases
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At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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During the year the Company made sales of £2,551 (2024: £2,651) to Positive Steps Shropshire Limited, a company of which E J L Casson is a director. The balance due from them at 31 March 2025 was £82 (2024: £NIL).
During the year the Company made sales of £2,208 (2024: £2,400) to Goodwood Homecare Limited, a company of which J E Claassen is a director. The balance due from them at 31 March 2025 was £103 (2024: £261).
During the year the Company made sales of £3,832 (2024: £4,772) to English Care Limited, a company of which J H English is a director. The balance due from them at 31 March 2025 was £799 (2024: £231).
During the year the Company made sales of £22,407 (2024: £17,925) to Bethphage, a company of which H L Nickless is a director. The balance due from them at 31 March 2025 was £1,621 (2024: £3,214).
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Related party transactions (Continued)
During the year the Company made sales of £33,329 (2024: £32,433) to Coverage Care Services Limited, a company of which D J Price is a director. The balance due from them at 31 March 2025 was £1,805 (2024: £2,019).
During the year the Company made sales of £2,778 (2024: £2,550) to CM Bespoke Care Ltd, a company of which S E Price is a director. The balance due from them at 31 March 2025 was £NIL (2024: £115).
During the year the Company made sales of £738 (2024: £1,394) to Bridge House - Lotus Care, a company of which J K Patel is a director. The balance due from them at 31 March 2025 was £171 (2024: £NIL).
During the year the Company made sales of £593 (2024: £491) to Ellerslie Court - Lotus Care, a company of which J K Patel is a director. The balance due from them at 31 March 2025 was £NIL (2024: £139).
During the year the Company made sales of £351 (2024: £357) to Real Life Options/Affinity Homecare, a company of which M S Morgan is the Registered Manager. The balance due from them at 31 March 2025 was £NIL (2024: £NIL).
During the year the company made sales of £2,063 (2024: £NIL) to Approved Care and Support Limited, a company of which A Jones is a director. The balance due from them at 31 March 2025 was £294 (2024: £NIL).
During the year the company made sales of £139 (2024: £NIL) to Stellarcare NW Limited, a company of which S Shaw is a director. The balance due from them at 31 March 2025 was £NIL (2024: £NIL).
During the year the company made sales of £1,709 (2024: £NIL) to Sambrook Care Limited, a company of which S Robson is a director. The balance due from them at 31 March 2025 was £157 (2024: £NIL).
During the year the company made sales of £545 (2024: £NIL) to Age UK STW Trading Limited, a company of which S Robson is a director. The balance due from them at 31 March 2025 was £NIL (2024: £NIL).
During the year the company made sales of £1,734 (2024: £NIL) to Newport Management Company Limited, a company of which S Robson is a director. The balance due from them at 31 March 2025 was £NIL (2024: £NIL).
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Post balance sheet events
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There were no post balance sheet events.
The Company is a private Company limited by guarantee and consequently does not have share capital. Therefore the Company is not controlled by one party and is controlled by the members.
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PARTNERS IN CARE (SHROPSHIRE, TELFORD AND WREKIN)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.
The audit report was signed on 6 October 2025 by Andrew Malpass BA FCA (Senior Statutory Auditor) on behalf of WR Partners.
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