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REGISTERED NUMBER: 08621775 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Sharda Care Limited

Sharda Care Limited (Registered number: 08621775)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Sharda Care Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: R D Khagram
J M Manuelpillai



REGISTERED OFFICE: Victoria Care Centre
Acton Lane
Park Royal
London
NW10 7BR



REGISTERED NUMBER: 08621775 (England and Wales)



SENIOR STATUTORY AUDITOR: Denver Dias



AUDITORS: Williams
Chartered Accountants
Statutory Auditors
Jade House
67 Park Royal Road
London
NW10 7JJ

Sharda Care Limited (Registered number: 08621775)

Abridged Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,368 83,159

CURRENT ASSETS
Debtors 1,330,148 989,250
Cash at bank and in hand 756,008 694,253
2,086,156 1,683,503
CREDITORS
Amounts falling due within one year 646,065 871,536
NET CURRENT ASSETS 1,440,091 811,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,567,459

895,126

PROVISIONS FOR LIABILITIES 5 31,842 20,790
NET ASSETS 1,535,617 874,336

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 1,535,517 874,236
SHAREHOLDERS' FUNDS 1,535,617 874,336

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 October 2023 and were signed on its behalf by:





J M Manuelpillai - Director


Sharda Care Limited (Registered number: 08621775)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Sharda Care Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements are prepared in UK sterling, which is the functional currency of the entity.

Monetary amounts in these financial statements are rounded to the nearest UK pound.

Turnover
Turnover represents income received from residents of the care home. Income from residents of the
care home is recognised, as earned, through the provision of contracted services

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

Depreciation
Depreciation is charged so as to write off the cost of an asset, less its estimated residual value, over
its estimated useful economic life as follows:

Asset classDepreciation method and rate
- Fixtures and Fittings - 20% straight line
- Office Equipment- 20% straight line

Financial instruments
Classification
The company holds the following financial instruments:
- Short-term trade and other debtors and creditors;
- Loans; and
- Cash and bank balances.
All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS 102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


Sharda Care Limited (Registered number: 08621775)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The parent company established a new care home in 2014 which is operated by Sharda Care Limited.

Since this time the company has been building occupancy rates which have continued to improve during the year resulting in a reasonable profit before tax. The directors continue to forecast for growth and are budgeting further improvements to financial performance over the coming period. The total net assets at 31st December 2022 £1,535,617 were (2021 - £874,336).

The financial statements have been prepared by management on a going concern basis. The directors believe the company has sufficient liquid resources to meet liabilities as they fall due based on current forecasts and the holding company has support from its shareholders to support the company for the foreseeable future in the event further financial support is required.

For these reasons, the directors adopt a going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from any change in the company’s circumstances such that the going concern basis would no longer be appropriate.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 162 (2021 - 178 ) .

Sharda Care Limited (Registered number: 08621775)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 245,599
Additions 73,747
At 31 December 2022 319,346
DEPRECIATION
At 1 January 2022 162,440
Charge for year 29,538
At 31 December 2022 191,978
NET BOOK VALUE
At 31 December 2022 127,368
At 31 December 2021 83,159

5. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred taxation 31,842 20,790

Deferred
tax
£   
Balance at 1 January 2022 20,790
Charge to Income Statement during year 11,052
Balance at 31 December 2022 31,842

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
100 Ordinary shares £1 100 100

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

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Denver Dias, who signed for and on behalf of Williams Chartered Accountants on 24th October 2021.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Sharda Care Limited (Registered number: 08621775)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. RELATED PARTY DISCLOSURES - continued

Related party transactions


Summary of transactions with other related parties
Other related parties are related to the company by virtue of joint directorships

Expenditure with and payables to related parties
Other related parties
2022 £
Rendering of services 144,000
Other related parties
2021 £
Rendering of services 144,000