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REGISTERED NUMBER: 05034163 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24TH FEBRUARY 2023

FOR

SILVERDALE CARE HOMES LIMITED

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24TH FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SILVERDALE CARE HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 24TH FEBRUARY 2023







DIRECTOR: K A Malik





REGISTERED OFFICE: Newcastle Street
Silverdale
Newcastle-under-Lyme
Staffordshire
ST5 6PQ





REGISTERED NUMBER: 05034163 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

STATEMENT OF FINANCIAL POSITION
24TH FEBRUARY 2023

2023 2022
Notes £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 43,685 43,885
43,685 43,885

Current assets
Debtors 7 2,543,217 2,158,241
Investments 8 429,278 429,278
Cash at bank 89,219 171,456
3,061,714 2,758,975
Creditors
Amounts falling due within one year 9 (1,118,388 ) (830,045 )
Net current assets 1,943,326 1,928,930
Total assets less current liabilities 1,987,011 1,972,815

Creditors
Amounts falling due after more than one
year

10

(39,138

)

(43,492

)

Accruals and deferred income (36,400 ) (33,900 )
Net assets 1,911,473 1,895,423

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 1,910,473 1,894,423
Shareholders' funds 1,911,473 1,895,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 24th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

STATEMENT OF FINANCIAL POSITION - continued
24TH FEBRUARY 2023


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 director and authorised for issue on 14th November 2023 and were signed by:





K A Malik - Director


SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24TH FEBRUARY 2023

1. STATUTORY INFORMATION

Silverdale Care Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05034163 and the registered office address is Newcastle Street, Silverdale, Newcastle under Lyme, Staffordshire, ST5 6PQ.

The principal activity of the company is that of residential care homes.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Functional currency
The financial statements are prepared in sterling (£) which is the functional currency of the company.

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities, accruals and impairment are its critical accounting estimates.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Vehicles, plant and machinery and fixtures and fittings are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on assets is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Plant, machinery and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

Investments
Other investments are valued initially at cost and thereafter at cost less impairment.

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24TH FEBRUARY 2023

3. ACCOUNTING POLICIES - continued

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, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24TH FEBRUARY 2023

3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Going concern
In common with most other businesses we are operating in uncertain times as a result of the Coronavirus and the impact that it has had an all businesses large and small. Although we will be eligible for some Government aid at the moment we do not know how long the situation will continue. The directors are taking all reasonable steps to ensure continued operations and believe that it is appropriate to continue to prepare the accounts on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 73 (2022 - 65 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 25th February 2022
and 24th February 2023 99,983
AMORTISATION
At 25th February 2022
and 24th February 2023 99,983
NET BOOK VALUE
At 24th February 2023 -
At 24th February 2022 -

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24TH FEBRUARY 2023

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 25th February 2022 165,303 19,000 184,303
Additions 9,093 - 9,093
At 24th February 2023 174,396 19,000 193,396
DEPRECIATION
At 25th February 2022 126,120 14,298 140,418
Charge for year 8,117 1,176 9,293
At 24th February 2023 134,237 15,474 149,711
NET BOOK VALUE
At 24th February 2023 40,159 3,526 43,685
At 24th February 2022 39,183 4,702 43,885

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 370,552 133,771
Other debtors 2,172,665 2,024,470
2,543,217 2,158,241

Included in other debtors is £1,525,205 which relates to monies due from the Holding company.

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Investments - other 429,278 429,278

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 167,847 167,657
Trade creditors 52,198 109,409
Taxation and social security 519,977 451,455
Other creditors 378,366 101,524
1,118,388 830,045

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 39,138 43,492

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 19,642 24,847

SILVERDALE CARE HOMES LIMITED (REGISTERED NUMBER: 05034163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24TH FEBRUARY 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 163,493 163,493

Banks hold legal charges and a debenture over all assets of the company. The finance lease and hire purchase liabilities are secured on the assets to which they relate.

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 24th February 2023 and the period ended 24th February 2022:

2023 2022
£    £   
K A Malik
Balance outstanding at start of year 392,952 36,000
Amounts advanced 256,628 356,952
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 649,580 392,952