Registered number
06413262
Ravenscroft Healthcare Limited
Reports and Accounts
31 March 2023
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
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