Ravenscroft Healthcare Limited |
Registered number: |
06413262 |
Balance Sheet |
as at 31 March 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
1,877 |
|
|
3,465 |
Tangible assets |
4 |
|
|
329,621 |
|
|
359,958 |
Investments |
5 |
|
|
240,406 |
|
|
- |
|
|
|
|
571,904 |
|
|
363,423 |
|
Current assets |
Debtors |
6 |
|
1,795,825 |
|
|
1,677,299 |
Cash at bank and in hand |
|
|
61,338 |
|
|
40,404 |
|
|
|
1,857,163 |
|
|
1,717,703 |
|
Creditors: amounts falling due within one year |
7 |
|
(463,765) |
|
|
(256,251) |
|
Net current assets |
|
|
|
1,393,398 |
|
|
1,461,452 |
|
Total assets less current liabilities |
|
|
|
1,965,302 |
|
|
1,824,875 |
|
Creditors: amounts falling due after more than one year |
8 |
|
|
(642,983) |
|
|
(837,474) |
|
|
Net assets |
|
|
|
1,322,319 |
|
|
987,401 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
1,322,219 |
|
|
987,301 |
|
Shareholders' funds |
|
|
|
1,322,319 |
|
|
987,401 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr Raja Challuri |
Mr Sachin Parab |
Director |
Director |
Approved by the board on 29 November 2023 |
|
Ravenscroft Healthcare Limited |
Notes to the Accounts |
for the year ended 31 March 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Land and buildings |
not depreciated |
|
Plant and machinery |
15% reducing balance |
|
Motor Vehicle |
20% reducing balance |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
29 |
|
28 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Website |
|
|
Cost |
|
At 1 April 2022 |
8,661 |
|
At 31 March 2023 |
8,661 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2022 |
5,196 |
|
Provided during the year |
1,588 |
|
At 31 March 2023 |
6,784 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
1,877 |
|
At 31 March 2022 |
3,465 |
|
|
|
|
|
|
|
|
|
|
Website is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
4 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2022 |
186,900 |
|
145,825 |
|
139,632 |
|
472,357 |
|
At 31 March 2023 |
186,900 |
|
145,825 |
|
139,632 |
|
472,357 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
- |
|
60,344 |
|
52,055 |
|
112,399 |
|
Charge for the year |
- |
|
12,822 |
|
17,515 |
|
30,337 |
|
At 31 March 2023 |
- |
|
73,166 |
|
69,570 |
|
142,736 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
186,900 |
|
72,659 |
|
70,062 |
|
329,621 |
|
At 31 March 2022 |
186,900 |
|
85,481 |
|
87,577 |
|
359,958 |
|
5 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
Additions |
240,406 |
|
|
At 31 March 2023 |
240,406 |
|
|
|
|
|
|
|
|
|
|
In July 22, Ravenscroft Healthcare bought 100% share capital of Physiolink Clinic Ltd for £240,406 |
|
|
6 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
116,676 |
|
83,333 |
|
Good home Properties Ltd |
|
|
|
|
1,679,149 |
|
1,589,149 |
|
Innovation healthcare Limited |
|
|
|
|
- |
|
4,817 |
|
|
|
|
|
|
1,795,825 |
|
1,677,299 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
1,669,149 |
|
1,589,149 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
101,219 |
|
101,219 |
|
Trade creditors |
145,723 |
|
75,308 |
|
Corporation tax |
76,965 |
|
39,670 |
|
Other taxes and social security costs |
16,448 |
|
27,784 |
|
Other creditors |
123,410 |
|
12,270 |
|
|
|
|
|
|
463,765 |
|
256,251 |
|
|
|
|
|
|
|
|
|
|
8 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
214,228 |
|
230,379 |
|
Other creditors |
428,755 |
|
607,095 |
|
|
|
|
|
|
642,983 |
|
837,474 |
|
|
|
|
|
|
|
|
|
|
|
9 |
Loans |
2023 |
|
2022 |
£ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
455,000 |
|
485,000 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
225,353 |
|
230,353 |
|
|
|
|
|
|
|
|
|
|
The bank loan is on the commercial property owned and occupied by the company in Milton Keynes. |
|
|
10 |
Related party transactions |
|
|
Debtors include unsecured loan to Goodhomes Properties Ltd £1,679,149 (2022: £1,589,149). The company is incorporated in England & wales and Mr Raja Challuri & Mr Sachin Parab both are directors and 25% Shareholders each in the company. |
|
|
11 |
Ultimate Controlling party |
|
|
The company was controlled throughout the current and previous year by the directors, who are also the shareholders in the company. |
|
|
12 |
Other information |
|
|
Ravenscroft Healthcare Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
266 High Road |
|
Harrow |
|
Middlesex |
|
HA3 7BB |