Carebright Limited - Period Ending 2024-03-31

Carebright Limited

Contents
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Company Information	1
Directors' Report	2
Accountants' Report	3
Profit and Loss Account	4
Statement of Comprehensive Income	5
Balance Sheet	6
Statement of Changes in Equity	7
Notes to the Unaudited Financial Statements	8 to 10

Carebright Limited

Company Information
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Directors

Mr Naseen Valji Mr Mohamed Kanji

Company secretary

Mr Mohamed Kanji

Registered office

Unit 7/8 Swanbridge Industrial Park Blackcroft Road Witham Essex CM8 3YN

Accountants

Brooks Green Chartered Accountants Abbey House 342 Regents Park Road London N3 2LJ

Carebright Limited

Directors' Report for the Year Ended 31 March 2024
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The directors present their report and the financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Naseen Valji

Mr Mohamed Kanji - Company secretary and director

Principal activity

The principal activity of the company is Company management

Small companies provision statement

This report has 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.

Approved by the Board on 13 May 2024 and signed on its behalf by:

Mr Mohamed Kanji
Company secretary and director

Chartered Accountants' Report to the Board of Directors on the Preparation of the Statutory Accounts of
Carebright Limited
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Carebright Limited for the year ended 31 March 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Carebright Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Carebright Limited and state those matters that we have agreed to state to the Board of Directors of Carebright Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carebright Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Carebright Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Carebright Limited. You consider that Carebright Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Carebright Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Brooks Green Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

15 May 2024

Carebright Limited

Profit and Loss Account for the Year Ended 31 March 2024
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	Note	2024 £	2023 £
Turnover		-	-
Administrative expenses		(660)	(660)
Operating loss		(660)	(660)
Income from participating interests		-	100,000
		-	100,000
(Loss)/profit before tax		(660)	99,340
(Loss)/profit for the financial year		(660)	99,340
Retained earnings brought forward		5,452	36,112
Dividends paid		-	(130,000)
Retained earnings carried forward		4,792	5,452

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Carebright Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024
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	2024 £	2023 £
(Loss)/profit for the year	(660)	99,340
Total comprehensive income for the year	(660)	99,340

Carebright Limited

(Registration number: 06497799)
Balance Sheet as at 31 March 2024
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	Note	2024 £	2023 £
Fixed assets
Investments	3	50	50
Current assets
Cash at bank and in hand		5,442	6,102
Creditors: Amounts falling due within one year	4	(600)	(600)
Net current assets		4,842	5,502
Net assets		4,892	5,552
Capital and reserves
Called up share capital	5	100	100
Retained earnings		4,792	5,452
Shareholders' funds		4,892	5,552

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 May 2024 and signed on its behalf by:
 

......................................... Mr Naseen Valji Director

Carebright Limited

Statement of Changes in Equity for the Year Ended 31 March 2024
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	Share capital £	Retained earnings £	Total £
At 1 April 2023	100	5,452	5,552
Loss for the year	-	(660)	(660)
At 31 March 2024	100	4,792	4,892

Carebright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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1	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Asset class	Amortisation method and rate
Investments	Not amortised

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Carebright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3	Investments

	2024 £	2023 £
Investments in associates	50	50

Associates	£
Cost
At 1 April 2023	50
Provision
Carrying amount
At 31 March 2024	50
At 31 March 2023	50

Carebright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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Aggregate financial information of associates

2024 £

2023 £

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2024	2023
Associates
Eaglebond Limited		Ordinary	50%	50%
	England

Associates

Eaglebond Limited The principal activity of Eaglebond Limited is Dispensing Chemists.

4

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Accruals and deferred income	600	600

5	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100