Maple Ridge Care Home Limited - Period Ending 2023-03-31

Registration number: SC597174

Maple Ridge Care Home Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

Maple Ridge Care Home Limited

Contents

Company Information	1
Directors' Report	2
Accountants' Report	3
Abridged Profit and Loss Account	4
Statement of Comprehensive Income	5
Abridged Balance Sheet	6 to 7
Statement of Changes in Equity	8
Notes to the Unaudited Abridged Financial Statements	9 to 16

Maple Ridge Care Home Limited

Company Information

Directors

R Patel

D Patel

Company secretary

R Patel

Registered office

73 Leachkin Road
Inverness
Scotland
IV3 8NN

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

Maple Ridge Care Home Limited

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the abridged financial statements for the year ended 31 March 2023.

Directors of the company

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

R Patel - Company secretary and director

D Patel

Principal activity

The principal activity of the company is that of residential nursing care facilities.

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 and authorised by the Board on 6 July 2023 and signed on its behalf by:

.........................................
D Patel
Director

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Maple Ridge Care Home Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Maple Ridge Care Home Limited for the year ended 31 March 2023 as set out on pages 4 to 16 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 Maple Ridge Care Home Limited, as a body, in accordance with the terms of our engagement letter dated 14 March 2019. Our work has been undertaken solely to prepare for your approval the accounts of Maple Ridge Care Home Limited and state those matters that we have agreed to state to the Board of Directors of Maple Ridge Care Home 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 Maple Ridge Care Home Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Maple Ridge Care Home 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 profit of Maple Ridge Care Home Limited. You consider that Maple Ridge Care Home 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 Maple Ridge Care Home 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.

......................................

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

6 July 2023

Maple Ridge Care Home Limited

Abridged Profit and Loss Account for the Year Ended 31 March 2023

	Note	2023 £	2022 £
Gross profit		784,468	762,954
Administrative expenses		(614,668)	(586,106)
Interest payable and similar expenses		67	-
Profit before tax	4	169,867	176,848
Tax on profit		(21,764)	(12,343)
Profit for the financial year		148,103	164,505

The above results were derived from continuing operations.

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

Maple Ridge Care Home Limited

Statement of Comprehensive Income for the Year Ended 31 March 2023

	2023 £	2022 £
Profit for the year	148,103	164,505
Total comprehensive income for the year	148,103	164,505

Maple Ridge Care Home Limited

(Registration number: SC597174)
Abridged Balance Sheet as at 31 March 2023

	Note	2023 £	2022 £
Fixed Assets
Intangible assets	5	400,000	425,000
Tangible Assets	6	1,025,595	1,053,087
		1,425,595	1,478,087
Current assets
Debtors	7	622,576	462,499
Cash at bank and in hand		276,886	243,568
		899,462	706,067
Prepayments and accrued income		8,709	8,236
Creditors: Amounts falling due within one year		(34,669)	(49,678)
Net current assets		873,502	664,625
Total assets less current liabilities		2,299,097	2,142,712
Creditors: Amounts falling due after more than one year		(1,195,313)	(1,195,313)
Provisions for liabilities		(18,469)	(10,087)
Accruals and deferred income		-	(100)
Net assets		1,085,315	937,212
Capital and reserves
Called up share capital	8	100	100
Revaluation reserve		419,404	419,404
Retained earnings		665,811	517,708
Shareholders' funds		1,085,315	937,212

For the financial year ending 31 March 2023 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.

Maple Ridge Care Home Limited

(Registration number: SC597174)
Abridged Balance Sheet as at 31 March 2023

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 6 July 2023 and signed on its behalf by:

.........................................
D Patel
Director

Maple Ridge Care Home Limited

Statement of Changes in Equity for the Year Ended 31 March 2023

	Share capital £	Revaluation reserve £	Retained earnings £	Total £
At 1 April 2022	100	419,404	517,708	937,212
Profit for the year	-	-	148,103	148,103
At 31 March 2023	100	419,404	665,811	1,085,315

	Share capital £	Revaluation reserve £	Retained earnings £	Total £
At 1 April 2021	100	419,404	353,203	772,707
Profit for the year	-	-	164,505	164,505
At 31 March 2022	100	419,404	517,708	937,212

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
73 Leachkin Road
Inverness
Scotland
IV3 8NN

These financial statements were authorised for issue by the Board on 6 July 2023.

2	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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fixtures	25% reducing balance
Freehold property	over 50 years
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	over 20 years

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.

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2022 - 20).

4	Profit before tax

Arrived at after charging/(crediting)

	2023 £	2022 £
Depreciation expense	30,736	31,566
Amortisation expense	25,000	25,000

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

5	Intangible assets

Total
£

Cost or valuation

At 1 April 2022

500,000

At 31 March 2023

500,000

Amortisation

At 1 April 2022

75,000

Amortisation charge

25,000

At 31 March 2023

100,000

Carrying amount

At 31 March 2023

400,000

At 31 March 2022

425,000

6

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 April 2022

1,000,000

129,794

9,849

1,139,643

Additions

-

3,244

-

3,244

At 31 March 2023

1,000,000

133,038

9,849

1,142,887

Depreciation

At 1 April 2022

51,612

29,250

5,694

86,556

Charge for the year

20,000

9,697

1,039

30,736

At 31 March 2023

71,612

38,947

6,733

117,292

Carrying amount

At 31 March 2023

928,388

94,091

3,116

1,025,595

At 31 March 2022

948,388

100,544

4,155

1,053,087

Included within the net book value of land and buildings above is £928,388 (2022 - £948,388) in respect of freehold land and buildings.

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Share capital of £1 each	100	100	100	100

9

Dividends

Final dividends paid

Dividends paid

Interim dividends paid

Dividends paid

Recommended final dividends paid and not recognised in the accounts

The directors are recommending the following final dividends:

These dividends have not been accrued in the balance sheet.

10	Related party transactions

Maple Ridge Care Home Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

11	Parent and ultimate parent undertaking

The ultimate controlling party is the Ridge Care Group Limited.

2023	At 1 April 2022 £	At 31 March 2023 £
R Patel
	(7,679)	(7,679)


D Patel
	(7,378)	(7,378)

2022	At 1 April 2021 £	At 31 March 2022 £
R Patel
	(7,679)	(7,679)


D Patel
	(7,378)	(7,378)

	Total £
Cost or valuation
At 1 April 2022	500,000
At 31 March 2023	500,000
Amortisation
At 1 April 2022	75,000
Amortisation charge	25,000
At 31 March 2023	100,000
Carrying amount
At 31 March 2023	400,000
At 31 March 2022	425,000

	Land and buildings £	Furniture, fittings and equipment £	Motor vehicles £	Total £
Cost or valuation
At 1 April 2022	1,000,000	129,794	9,849	1,139,643
Additions	-	3,244	-	3,244
At 31 March 2023	1,000,000	133,038	9,849	1,142,887
Depreciation
At 1 April 2022	51,612	29,250	5,694	86,556
Charge for the year	20,000	9,697	1,039	30,736
At 31 March 2023	71,612	38,947	6,733	117,292
Carrying amount
At 31 March 2023	928,388	94,091	3,116	1,025,595
At 31 March 2022	948,388	100,544	4,155	1,053,087