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Registration number: 11092492

The Knoll Care Group Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

The Knoll Care Group Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

The Knoll Care Group Limited

(Registration number: 11092492)
Statement of Financial Position as at 31 March 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

4,229,277

4,242,955

Investments

5

100,000

100,000

 

4,329,277

4,342,955

Current assets

 

Debtors

6

1,050,110

12,096

Cash at bank and in hand

 

291,290

223,104

 

1,341,400

235,200

Creditors: Amounts falling due within one year

7

(3,463,250)

(2,368,067)

Net current liabilities

 

(2,121,850)

(2,132,867)

Total assets less current liabilities

 

2,207,427

2,210,088

Creditors: Amounts falling due after more than one year

7

(2,178,302)

(2,166,085)

Net assets

 

29,125

44,003

Capital and reserves

 

Called up share capital

200

200

Share premium reserve

99,900

99,900

Profit and loss account

(70,975)

(56,097)

Shareholders' funds

 

29,125

44,003

 

The Knoll Care Group Limited

(Registration number: 11092492)
Statement of Financial Position as at 31 March 2023

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 27 September 2023 and signed on its behalf by:
 

.........................................
Mr M J Callaghan
Director

.........................................
Ms C L Callaghan
Director

.........................................
Mr A G Callaghan
Director

.........................................
Mrs A J Callaghan
Director

     
 

The Knoll Care Group Limited

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

1

General information

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

The address of its registered office is:
Bowfell House
2 Brook Road
Urmston
Manchester
M41 5RQ

These financial statements were authorised for issue by the Board on 27 September 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 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 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

At the statement of financial position date, the company had net current liabilities. The company is relying on the continuing support of its creditors and there is no indication that they will not continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

 

The Knoll Care Group Limited

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

Prior period adjustment

Following a review of the accounts the Directors determined that the Property owned by The Knoll Care Group Limited and leased to its subsidiary, The Knoll Care Partnership Limited, for use in its ongoing trade should be included in the accounts as Property, Plant and Equipment rather than an Investment Property. The effects of the adjustments are the removal of the fair value reserve, the removal of the associated deferred tax provision and the inclusion of depreciation on the property. The effects of these adjustments can be seen in The Statement of Changes in Equity.

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;
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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Land and buildings

2% per annum straight line

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.

Borrowings

 

The Knoll Care Group Limited

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

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 income statement 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2022

4,277,115

4,277,115

At 31 March 2023

4,277,115

4,277,115

Depreciation

At 1 April 2022

34,160

34,160

Charge for the year

13,678

13,678

At 31 March 2023

47,838

47,838

Carrying amount

At 31 March 2023

4,229,277

4,229,277

At 31 March 2022

4,242,955

4,242,955

Included within the net book value of land and buildings above is £4,229,276 (2022 - £4,242,954) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

100,000

100,000

 

The Knoll Care Group Limited

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

Subsidiaries

£

Cost or valuation

At 1 April 2022

100,000

Provision

Carrying amount

At 31 March 2023

100,000

At 31 March 2022

100,000

 

The Knoll Care Group Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

20,000

12,000

Prepayments

198

96

Other debtors

1,029,912

-

 

1,050,110

12,096

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

19,176

40,105

Trade creditors

 

-

7,360

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,310,584

106,566

Taxation and social security

 

4,111

16,722

Accruals and deferred income

 

31,887

40,207

Other creditors

 

2,097,492

2,157,107

 

3,463,250

2,368,067

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

2,178,302

2,166,085

2023
£

2022
£

Due after more than five years

After more than five years by instalments

2,112,654

1,873,849

-

-

Creditors include bank loans which are secured of £2,197,479 (2021 - £2,206,190). The loan is secured by a charge dated 1 June 2018 on the freehold land known as 104 Bowfell Road, Urmston, Manchester, M41 5RR and a fixed and floating charge over the assets of the company in favour of Unity Trust Bank plc.

 

The Knoll Care Group Limited

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

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,178,302

2,166,085

2023
£

2022
£

Current loans and borrowings

Bank borrowings

19,176

40,105