The Willows Care Home (Shepshed) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09788336 (England and Wales)

THE WILLOWS CARE HOME (SHEPSHED) LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Hitan Patel

Arvind Patel

Krishna Patel

REGISTERED OFFICE:

The Heathers

Quarry Road, Bowling Hill

Chipping Sodbury

Bristol

BS37 6AX

REGISTERED NUMBER:

09788336 (England and Wales)

AUDITORS:

DTE Business Advisers Limited

Chartered Accountants

Statutory Auditors

The Exchange

5 Bank Street

Bury

Lancashire

BL9 0DN

FIXED ASSETS

Property, plant and equipment

4

72,535

53,055

CURRENT ASSETS

Debtors

5

765,919

1,241,032

Cash at bank and in hand

375,709

249,993

1,141,628

1,491,025

CREDITORS

Amounts falling due within one year

6

(526,789

)

(281,505

)

NET CURRENT ASSETS

614,839

1,209,520

TOTAL ASSETS LESS CURRENT
LIABILITIES

687,374

1,262,575

PROVISIONS FOR LIABILITIES

(18,134

)

(10,080

)

NET ASSETS

669,240

1,252,495

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

669,239

1,252,494

669,240

1,252,495

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by:

Hitan Patel - Director

1.	STATUTORY INFORMATION

The Willows Care Home (Shepshed) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09788336 and its registered office address is The Heathers, Quarry Road, Chipping Sodbury, Bristol, BS37 6AX.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge.

Revenue

Revenue comprises the invoiced value of services supplied by the company. The company is not VAT registered. The invoices are raised to residents and some councils for care home services supplied. The invoices may also include ancillary services such as hairdressing and chiropody.

Property, plant and equipment

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

Land and buildings

-

25% on cost

Plant and machinery etc

-

25% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102.

During the prior year the company benefitted from the Government Coronavirus Job Retention Scheme ('Furlough'). Furlough income has been recognised in "other income" in the same period as the related wage costs.

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 accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 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.

Operating leases

Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2022 - 55 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2022

58,731

152,646

211,377

Additions

-

68,182

At 31 March 2023

58,731

220,828

279,559

DEPRECIATION

At 1 April 2022

50,155

108,167

158,322

Charge for year

8,576

40,126

48,702

At 31 March 2023

58,731

148,293

207,024

NET BOOK VALUE

At 31 March 2023

-

72,535

At 31 March 2022

8,576

44,479

53,055

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Trade debtors

2,657

16,428

Amounts owed by group undertakings

700,000

1,153,120

Other debtors

63,262

71,484

765,919

1,241,032

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Trade creditors

70,743

53,718

Amounts owed to group undertakings

-

63

Taxation and social security

86,603

52,647

Other creditors

369,443

175,077

526,789

281,505

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

Within one year

122,905

120,000

Between one and five years

243,158

355,900

366,063

475,900

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

The Report of the Auditors was unqualified.

Richard Taylor (Senior Statutory Auditor)

for and on behalf of DTE Business Advisers Limited

9.	OTHER FINANCIAL COMMITMENTS

There is a debenture over the assets of the company and an unlimited inter-company guarantee between the group companies.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is 3ab Care Limited, a company registered in England and Wales.

The results of the company are included within the consolidated financial statements of 3ab Care Limited, copies of which can be obtained from the company's registered office, The Heathers, Quarry Road, Chipping Sodbury, Bristol, BS37 6AX.