Family Care (Group) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09266514 (England and Wales)

Financial Statements

for the Year Ended 31 December 2023

for

Family Care (Group) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A T Williamson

P M Williamson

REGISTERED OFFICE:

Business Centre

60 School Lane

Bamber Bridge

Preston

PR5 6QE

REGISTERED NUMBER:

09266514 (England and Wales)

AUDITORS:

Mayes Business Partnership Ltd

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Investments

4

1,225,638

1,225,638

CURRENT ASSETS

Debtors

77,585

-

CREDITORS

Amounts falling due within one year

231,869

173,549

NET CURRENT LIABILITIES

(154,284

)

(173,549

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,071,354

1,052,089

CREDITORS

Amounts falling due after more than one year

-

32,524

NET ASSETS

1,071,354

1,019,565

CAPITAL AND RESERVES

Called up share capital

6

50,818

50,818

Share premium

574,820

574,820

Retained earnings

445,716

393,927

SHAREHOLDERS' FUNDS

1,071,354

1,019,565

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:

P M Williamson - Director

A T Williamson - Director

1.	STATUTORY INFORMATION

Family Care (Group) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements

The financial statements contain information about Family Care (Group) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2023

and 31 December 2023

1,225,638

NET BOOK VALUE

At 31 December 2023

1,225,638

At 31 December 2022

1,225,638

5.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/23

31/12/22

£

£

Other loans - less than 1 yr

31,868

70,766

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/23

31/12/22

value:

£

£

50,818

Ordinary

£1

50,818

50,818

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

The Report of the Auditors was unqualified.

Craig Fishwick FCCA (Senior Statutory Auditor)

for and on behalf of Mayes Business Partnership Ltd

8.	CONTINGENT LIABILITIES

The company has entered into a Composite Accounting Agreement dated 17 July 2007 (The "Agreement"). Each participating related party (Dalepeak Limited, Family Care Fostering Limited, Family Care Associates Limited, Family Care Associates (Holdings) Limited and Young Alliance Limited) has provided a guarantee to Barclays Bank PLC. Under the terms of the Agreement and the cross guarantees, Barclays Bank PLC is authorised to allow set-off for interest purposes and in certain circumstances to seize credit balances and apply them in reduction of liabilities including debit balances within the Composite Accounting System. The maximum potential liability arising under this guarantee at the year end was £Nil (2022: £580,693).

9.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.