Silverfin false 31/03/2023 03/11/2021 31/03/2023 Mitesh Kunvarji 03/11/2021 Priya Kunvarji 03/11/2021 Bharti Morjaria 03/11/2021 Sailesh Morjaria 03/11/2021 01 November 2023 The principal activity of the Company during the financial period was that of a holding company. 13721123 2023-03-31 13721123 bus:Director1 2023-03-31 13721123 bus:Director2 2023-03-31 13721123 bus:Director3 2023-03-31 13721123 bus:Director4 2023-03-31 13721123 core:CurrentFinancialInstruments 2023-03-31 13721123 core:Non-currentFinancialInstruments 2023-03-31 13721123 core:ShareCapital 2023-03-31 13721123 core:RetainedEarningsAccumulatedLosses 2023-03-31 13721123 core:DisposalsDecreaseInInvestments 2023-03-31 13721123 core:CostValuation 2023-03-31 13721123 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-03-31 13721123 core:CurrentFinancialInstruments core:Secured 2023-03-31 13721123 core:CurrentFinancialInstruments 1 2023-03-31 13721123 bus:OrdinaryShareClass1 2023-03-31 13721123 bus:OrdinaryShareClass2 2023-03-31 13721123 bus:OrdinaryShareClass3 2023-03-31 13721123 bus:OrdinaryShareClass4 2023-03-31 13721123 2021-11-03 2023-03-31 13721123 bus:FullAccounts 2021-11-03 2023-03-31 13721123 bus:SmallEntities 2021-11-03 2023-03-31 13721123 bus:AuditExemptWithAccountantsReport 2021-11-03 2023-03-31 13721123 bus:PrivateLimitedCompanyLtd 2021-11-03 2023-03-31 13721123 bus:Director1 2021-11-03 2023-03-31 13721123 bus:Director2 2021-11-03 2023-03-31 13721123 bus:Director3 2021-11-03 2023-03-31 13721123 bus:Director4 2021-11-03 2023-03-31 13721123 core:CurrentFinancialInstruments 2021-11-03 2023-03-31 13721123 core:Non-currentFinancialInstruments 2021-11-03 2023-03-31 13721123 bus:OrdinaryShareClass1 2021-11-03 2023-03-31 13721123 bus:OrdinaryShareClass2 2021-11-03 2023-03-31 13721123 bus:OrdinaryShareClass3 2021-11-03 2023-03-31 13721123 bus:OrdinaryShareClass4 2021-11-03 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13721123 (England and Wales)

CROWNWOOD HEALTHCARE (TOPCO) LIMITED

Unaudited Financial Statements
For the financial period from 03 November 2021 to 31 March 2023
Pages for filing with the registrar

CROWNWOOD HEALTHCARE (TOPCO) LIMITED

Unaudited Financial Statements

For the financial period from 03 November 2021 to 31 March 2023

Contents

CROWNWOOD HEALTHCARE (TOPCO) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
CROWNWOOD HEALTHCARE (TOPCO) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 31.03.2023
£
Fixed assets
Investments 3 1,219,816
1,219,816
Current assets
Debtors 4 726,541
Cash at bank and in hand 10,000
736,541
Creditors: amounts falling due within one year 5 ( 764,815)
Net current liabilities (28,274)
Total assets less current liabilities 1,191,542
Creditors: amounts falling due after more than one year 6 ( 1,193,802)
Net liabilities ( 2,260)
Capital and reserves
Called-up share capital 7 200
Profit and loss account ( 2,460 )
Total shareholders' deficit ( 2,260)

For the financial period 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 financial statements of Crownwood Healthcare (TopCo) Limited (registered number: 13721123) were approved and authorised for issue by the Director on 01 November 2023. They were signed on its behalf by:

Mitesh Kunvarji
Director
CROWNWOOD HEALTHCARE (TOPCO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 November 2021 to 31 March 2023
CROWNWOOD HEALTHCARE (TOPCO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 November 2021 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Crownwood Healthcare (TopCo) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
03.11.2021 to
31.03.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 4

3. Fixed asset investments

Investments in subsidiaries

31.03.2023
£
Cost
At 03 November 2021 0
Disposals 1,219,816
At 31 March 2023 1,219,816
Carrying value at 31 March 2023 1,219,816

4. Debtors

31.03.2023
£
Amounts owed by own subsidiaries 726,441
Amounts owed by directors 100
726,541

5. Creditors: amounts falling due within one year

31.03.2023
£
Bank loans (secured) 25,000
Amounts owed to connected companies 481,406
Accruals 5,430
Other taxation and social security 12,656
Other creditors 240,323
764,815

The bank loans above are secured by way of a first debenture over the Company's assets and undertaking. There is also a cross guarantee between the Company, 2 subsidiary companies and 2 associated companies in favour of the Lender, supported by first debentures over each of the companies' assets and undertakings, and first legal charges over their freehold properties.

4 director shareholders have provided joint and several personal guarantees in respect of the obligations of the Company to the lender (limited to £245,000).

A deed of subordination has been arranged in respect of any inter-company loans and/or shareholder loans held with the Company and the above-mentioned companies.

6. Creditors: amounts falling due after more than one year

31.03.2023
£
Bank loans (secured) 1,193,802

The bank loans above are secured by way of a first debenture over the Company's assets and undertaking. There is also a cross guarantee between the Company, 2 subsidiary companies and 2 associated companies in favour of the Lender, supported by first debentures over each of the companies' assets and undertakings, and first legal charges over their freehold properties.

4 director shareholders have given joint and several personal guarantees in respect of the obligations of the Company to the lender (limited to £245,000).

A deed of subordination has been arranged in respect of any inter-company loans and/or shareholder loans held with the Company and the above-mentioned companies.

7. Called-up share capital

31.03.2023
£
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each 50
50 Ordinary B shares of £ 1.00 each 50
50 Ordinary C shares of £ 1.00 each 50
50 Ordinary D shares of £ 1.00 each 50
200

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

31.03.2023
£
Unpaid contributions due to the fund (inc. in other creditors) 6,018

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

As a parent company of wholly owned subsidiary undertakings, the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the group.

Transactions with the entity's directors

31.03.2023
£
Balance owed by directors 100

Other related party transactions

31.03.2023
£
Balance owed to company under common control 181,386