Registered number
04688502
Carleton Court Residential Home Ltd
Filleted Accounts
31 March 2023
Carleton Court Residential Home Ltd
Registered number: 04688502
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 670,819 670,819
Tangible assets 4 653,720 629,875
1,324,539 1,300,694
Current assets
Debtors 5 15,342 3,899
Cash at bank and in hand 51,029 121,689
66,371 125,588
Creditors: amounts falling due within one year 6 (106,164) (101,168)
Net current (liabilities)/assets (39,793) 24,420
Total assets less current liabilities 1,284,746 1,325,114
Creditors: amounts falling due after more than one year 7 (28,650) (178,650)
Provisions for liabilities (8,079) (8,079)
Net assets 1,248,017 1,138,385
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,247,917 1,138,285
Shareholders' funds 1,248,017 1,138,385
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 Ketan Vinodray Shah
Director
Approved by the board on 29 November 2023
Carleton Court Residential Home Ltd
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes net invoiced carehome fees. Turnover relating to care home fees is reconised per night that a room is occupied.
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:
Freehold buildings over 50 years
Plant and machinery 25% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 20 24
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 670,819
At 31 March 2023 670,819
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 670,819
At 31 March 2022 670,819
Goodwill is being written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Fair value
At 1 April 2022 675,000 34,143 709,143
Additions - 28,544 28,544
At 31 March 2023 675,000 62,687 737,687
Depreciation
At 1 April 2022 45,922 33,346 79,268
Charge for the year 4,500 199 4,699
At 31 March 2023 50,422 33,545 83,967
Net book value
At 31 March 2023 624,578 29,142 653,720
At 31 March 2022 629,078 797 629,875
Freehold land and buildings: 2023 2022
£ £
Historical cost 520,982 520,982
Cumulative depreciation based on historical cost 41,637 38,167
479,345 482,815
The land and buildings are included in the accounts at a fair valuation of £675,000. The valuation was provided by the directors. Included in land and buildings is a land which is valued at £450,023 by the directors. No depreciation has been provided on this.
5 Debtors 2023 2022
£ £
Trade debtors 14,822 1,742
Other debtors 520 2,157
15,342 3,899
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,058 10,059
Taxation and social security costs 36,742 48,684
Other creditors 59,064 42,125
Director's loan account 300 300
106,164 101,168
7 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings 28,650 178,650
Group undertakings:
Spemple Limited 28,650 178,650
8 Controlling party
The company is a subsidiary of Jensen Investors Inc., a company registered in British Virgin Islands.
9 Other information
Carleton Court Residential Home Ltd is a private company limited by shares and incorporated in England. Its registered office is:
36 Woodberry Avenue
North Harrow
Middlesex
HA2 6AX
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