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REGISTERED NUMBER: 09734885 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ELEANOR HEALTH CARE GROUP LIMITED

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


ELEANOR HEALTH CARE GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M V Santhiapillai





REGISTERED OFFICE: Lee Gate House 1st Floor
Burnt Ash Road
London
SE12 8RG





REGISTERED NUMBER: 09734885 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The director presents his strategic report of the company and the group for the year ended 31 March 2023.

REVIEW OF BUSINESS
The group successfully provides services in the health and social care sectors. The principal activities are home care (providing personal and domiciliary care), nursing agency, care homes, health and social care training, hospital logistics, patient care transport and consultancy to health care providers.

PRINCIPAL RISKS AND UNCERTAINTIES
The group's principal uncertainties are the challenging environment in the health and social care sector due to austerity cuts by the government, and the general squeeze on company margins.

RESULTS AND PERFORMANCE
The results of the group for the year show a profit on the ordinary activities before tax of £5,470,932. The shareholders' funds of the group total £24,789,260.

The performance of the group during the year has produced encouraging results. Eleanor Nursing and Social Care Limited continues to be the largest in the Care Group. Our home care and care home business has seen a significant improvement for this year despite the challenging environment in health and social care sector due to austerity cuts by the government.

BUSINESS ENVIRONMENT
Eleanor Care's main clients in Social Care is the local government and in health care is the NHS. Due to the austerity measures, both local government and NHS have been asked to make major savings reflecting in huge price reduction for the services we provide. Tougher regulations imposed by the Care quality commission also has led to increase in cost leading to a squeeze in the margins.

Due to the hard and difficult conditions in this sector many businesses have closed, however Eleanor has increased its market share in both health and social care during the year.

STRATEGY
The group's success is dependent on the service quality, pricing, and ongoing management of the costs - mainly the overheads. In the Care business, we have continued to consolidate our position. We believe it is important to retain a diversified portfolio of area in order to achieve maximum profitability through synergy in this highly competitive marketplace. In the Care and Logistics sector we have refocused the alignment of our products with our strong network which will allow us to enhance our market share and retention levels in this sector.

The group will continue to consolidate its position and concentrate its efforts on achieving maximum growth in its existing market segments and also hope to provide new services with more margins. We aim to improve efficiency in all areas of our operations with technology, innovation and creativity.


ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

FUTURE DEVELOPMENTS
Although the growth of the UK economy strengthened in the year, risks to UK economic growth remain significant and future prospects may be influenced by developments in the euro zone. The economic environment will continue to evolve at a rapid pace over the next two to three years making a return to the relative stability and certainty that preceded the crisis unlikely, at least in the short term. Interest rates are predicted to remain low in the short to medium term.

In addition, we are expecting there will be continuing growth in the Care Industry and also the potential for an increase in use frequency on certain lines of business. We plan to actively review our Home Care to seek to ensure profitability is maintained in difficult market conditions. This includes gaining a better understanding and efficiency in recruitment of our care staff.

We will continue to win new contracts in home care and logistics while going into new areas such as supported living, out-reach and day centres. we will also continue to invest in care homes. Fresh energy will be applied in nursing and training to develop the potential in the sectors.

We will continue to develop our relationships with customers, generating new business where possible and increasing retention levels while navigating the pressure on our Service users. The level of profitability in the coming year will dependent on our cost management, entering new profitable sectors using our brand name and careful acquisition.

ON BEHALF OF THE BOARD:





M V Santhiapillai - Director


14 December 2023

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2023 is £180,000.

DIRECTOR
M V Santhiapillai held office during the whole of the period from 1 April 2022 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
During the year, the group made charitable donations of £5,105.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Edwards Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M V Santhiapillai - Director


14 December 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR HEALTH CARE GROUP LIMITED

Opinion
We have audited the financial statements of Eleanor Health Care Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR HEALTH CARE GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR HEALTH CARE GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures can detect irregularities, including fraud is detailed below:

Our approach was as follows:

a) We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to include the Companies Act 2006, and relevant tax legislation. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

b) We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

c) We examined the company's regulatory and legal correspondence and discussed with management any known or suspected instances of fraud or non-compliance with laws and regulations.

d) We assessed the risks of material misstatement in respect of fraud as follows:

i) We considered the use of remuneration incentive schemes and performance targets for management and did not identify any additional fraud risks
ii) The audit team discussed whether there were any areas that were susceptible to misstatement as part of their fraud discussion.
iii) In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements.
iv) We incorporated an element of unpredictability in the selection of the nature, timing and extent of our audit procedures.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud, including:

Designing audit procedures to address, for example:
a) The possibility of fraudulent or corrupt payments made through third parties.
b) The risk of bribery and corruption.
c) The opportunity to segregate duties within the entity.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

Using our general commercial and sector experience and through discussions with management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either because of fraud or error.

The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR HEALTH CARE GROUP LIMITED

Under ISA 240 (UK) there is a presumed risk that revenue may be misstated due to the improper recognition of revenue. To address this risk, we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard, performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions.

We tested a sample of revenue transactions to supporting evidence and tested, on a sample basis, revenue related balances in the balance sheet.

We considered the extent to which the audit was considered capable of detecting irregularities: There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

14 December 2023

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

TURNOVER 51,513,783 43,058,427

Cost of sales 26,330,487 22,773,186
GROSS PROFIT 25,183,296 20,285,241

Administrative expenses 18,445,109 14,855,327
6,738,187 5,429,914

Other operating income 10,005 200
OPERATING PROFIT 4 6,748,192 5,430,114

Interest receivable and similar income 11,462 1,648
6,759,654 5,431,762

Interest payable and similar expenses 5 1,288,722 480,584
PROFIT BEFORE TAXATION 5,470,932 4,951,178

Tax on profit 6 1,421,641 1,139,583
PROFIT FOR THE FINANCIAL YEAR 4,049,291 3,811,595
Profit attributable to:
Owners of the parent 4,049,291 3,811,595

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 4,049,291 3,811,595


OTHER COMPREHENSIVE INCOME
Revaluation eliminated on disposals (383,000 ) 550,190
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(383,000

)

550,190
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,666,291

4,361,785

Total comprehensive income attributable to:
Owners of the parent 3,666,291 4,361,785

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

CONSOLIDATED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 4,340,325 3,734,836
Tangible assets 10 22,205,549 16,897,520
Investments 11 21,970,942 9,030,949
48,516,816 29,663,305

CURRENT ASSETS
Stocks 12 8,500 8,500
Debtors 13 12,802,362 12,367,465
Cash at bank and in hand 1,890,647 4,113,428
14,701,509 16,489,393
CREDITORS
Amounts falling due within one year 14 11,072,168 6,680,120
NET CURRENT ASSETS 3,629,341 9,809,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,146,157

39,472,578

CREDITORS
Amounts falling due after more than one
year

15

(27,134,764

)

(17,892,488

)

PROVISIONS FOR LIABILITIES 18 (222,133 ) (277,121 )
NET ASSETS 24,789,260 21,302,969

CAPITAL AND RESERVES
Called up share capital 19 10,002 10,002
Share premium 20 100,000 100,000
Revaluation reserve 20 695,440 1,078,440
Retained earnings 20 23,983,818 20,114,527
SHAREHOLDERS' FUNDS 24,789,260 21,302,969

The financial statements were approved by the director and authorised for issue on 14 December 2023 and were signed by:





M V Santhiapillai - Director


ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

COMPANY BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 5,857,027 5,666,327
5,857,027 5,666,327

CURRENT ASSETS
Debtors 13 43,544 43,544
Cash at bank 326,562 111,943
370,106 155,487
CREDITORS
Amounts falling due within one year 14 3,065,270 1,135,737
NET CURRENT LIABILITIES (2,695,164 ) (980,250 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,161,863

4,686,077

CREDITORS
Amounts falling due after more than one
year

15

2,333,333

3,666,667
NET ASSETS 828,530 1,019,410

CAPITAL AND RESERVES
Called up share capital 19 10,002 10,002
Retained earnings 20 818,528 1,009,408
SHAREHOLDERS' FUNDS 828,530 1,019,410

Company's (loss)/profit for the financial year (10,880 ) 275,101

The financial statements were approved by the director and authorised for issue on 14 December 2023 and were signed by:





M V Santhiapillai - Director


ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 April 2021 10,002 16,482,932 100,000 528,250 17,121,184

Changes in equity
Dividends - (180,000 ) - - (180,000 )
Total comprehensive income - 3,811,595 - 550,190 4,361,785
Balance at 31 March 2022 10,002 20,114,527 100,000 1,078,440 21,302,969

Changes in equity
Dividends - (180,000 ) - - (180,000 )
Total comprehensive income - 4,049,291 - (383,000 ) 3,666,291
Balance at 31 March 2023 10,002 23,983,818 100,000 695,440 24,789,260

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2021 10,002 914,307 924,309

Changes in equity
Dividends - (180,000 ) (180,000 )
Total comprehensive income - 275,101 275,101
Balance at 31 March 2022 10,002 1,009,408 1,019,410

Changes in equity
Dividends - (180,000 ) (180,000 )
Total comprehensive income - (10,880 ) (10,880 )
Balance at 31 March 2023 10,002 818,528 828,530

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 10,753,795 6,798,472
Interest paid (1,288,722 ) (480,584 )
Tax paid (556,802 ) (912,905 )
Net cash from operating activities 8,908,271 5,404,983

Cash flows from investing activities
Purchase of intangible fixed assets (1,769,693 ) (3,957,324 )
Purchase of tangible fixed assets (7,586,275 ) (8,592,475 )
Purchase of fixed asset investments (12,939,993 ) (1,554,984 )
Sale of tangible fixed assets 795,636 -
Interest received 11,462 1,648
Net cash from investing activities (21,488,863 ) (14,103,135 )

Cash flows from financing activities
New loans in year 10,537,811 6,030,855
Equity dividends paid (180,000 ) (180,000 )
Net cash from financing activities 10,357,811 5,850,855

Decrease in cash and cash equivalents (2,222,781 ) (2,847,297 )
Cash and cash equivalents at beginning of
year

2

4,113,428

6,960,725

Cash and cash equivalents at end of year 2 1,890,647 4,113,428

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 5,470,932 4,951,178
Depreciation charges 2,206,936 1,083,450
Loss on disposal of fixed assets 56,878 -
Finance costs 1,288,722 480,584
Finance income (11,462 ) (1,648 )
9,012,006 6,513,564
Increase in stocks - (8,500 )
Increase in trade and other debtors (434,897 ) (376,531 )
Increase in trade and other creditors 2,176,686 669,939
Cash generated from operations 10,753,795 6,798,472

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,890,647 4,113,428
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 4,113,428 6,960,725


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank and in hand 4,113,428 (2,222,781 ) 1,890,647
4,113,428 (2,222,781 ) 1,890,647
Debt
Debts falling due within 1 year (1,649,381 ) (1,295,535 ) (2,944,916 )
Debts falling due after 1 year (17,892,488 ) (9,242,276 ) (27,134,764 )
(19,541,869 ) (10,537,811 ) (30,079,680 )
Total (15,428,441 ) (12,760,592 ) (28,189,033 )

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Eleanor Health Care Group 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and in accordance with the property
Long leasehold - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost and 25% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 30,714,852 27,227,610
Social security costs 2,558,756 2,057,498
Other pension costs 559,833 467,018
33,833,441 29,752,126

The average number of employees during the year was as follows:
2023 2022

Direct and administrative 1,393 1,312

2023 2022
£    £   
Director's remuneration 100,000 120,000

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 44,375 19,094
Equipment hire 550,779 368,632
Depreciation - owned assets 1,042,732 636,371
Loss on disposal of fixed assets 56,878 -
Goodwill amortisation 1,164,204 447,079
Auditor's remuneration 46,770 32,700

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 1,267,991 477,730
Other interest 20,731 2,854
1,288,722 480,584

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 1,476,629 1,050,807

Deferred tax (54,988 ) 88,776
Tax on profit 1,421,641 1,139,583

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Revaluation eliminated on disposals (383,000 ) - (383,000 )

2022
Gross Tax Net
£    £    £   
Revaluation of freehold property 550,190 - 550,190

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Final 180,000 180,000

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2022 4,897,333
Additions 1,769,693
Disposals (30,000 )
At 31 March 2023 6,637,026
AMORTISATION
At 1 April 2022 1,162,497
Amortisation for year 1,164,204
Eliminated on disposal (30,000 )
At 31 March 2023 2,296,701
NET BOOK VALUE
At 31 March 2023 4,340,325
At 31 March 2022 3,734,836

10. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 April 2022 16,994,713 466,027 25,799
Additions 7,331,000 - 2,013
Disposals (1,369,708 ) - -
At 31 March 2023 22,956,005 466,027 27,812
DEPRECIATION
At 1 April 2022 1,440,141 38,527 20,795
Charge for year 512,311 45,000 1,861
Eliminated on disposal (167,712 ) - -
At 31 March 2023 1,784,740 83,527 22,656
NET BOOK VALUE
At 31 March 2023 21,171,265 382,500 5,156
At 31 March 2022 15,554,572 427,500 5,004

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 2,203,836 183,082 198,622 20,072,079
Additions 217,624 16,995 18,643 7,586,275
Disposals (89,790 ) (6,680 ) (3,219 ) (1,469,397 )
At 31 March 2023 2,331,670 193,397 214,046 26,188,957
DEPRECIATION
At 1 April 2022 1,461,225 102,433 111,438 3,174,559
Charge for year 409,048 29,136 45,376 1,042,732
Eliminated on disposal (56,998 ) (6,680 ) (2,493 ) (233,883 )
At 31 March 2023 1,813,275 124,889 154,321 3,983,408
NET BOOK VALUE
At 31 March 2023 518,395 68,508 59,725 22,205,549
At 31 March 2022 742,611 80,649 87,184 16,897,520

11. FIXED ASSET INVESTMENTS

Group
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 April 2022 9,030,949 - 9,030,949
Additions 11,015,312 1,924,681 12,939,993
At 31 March 2023 20,046,261 1,924,681 21,970,942
NET BOOK VALUE
At 31 March 2023 20,046,261 1,924,681 21,970,942
At 31 March 2022 9,030,949 - 9,030,949

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022 5,666,327
Additions 190,700
At 31 March 2023 5,857,027
NET BOOK VALUE
At 31 March 2023 5,857,027
At 31 March 2022 5,666,327


12. STOCKS

Group
2023 2022
£    £   
Stocks 8,500 8,500

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 5,162,028 3,420,546 - -
Other debtors 6,354,734 8,468,794 43,544 43,544
Prepayments and accrued income 1,285,600 478,125 - -
12,802,362 12,367,465 43,544 43,544

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 16) 2,944,916 1,649,381 1,000,000 666,667
Trade creditors 1,311,872 1,217,726 - -
Amounts owed to group undertakings - - 1,765,196 168,996
Tax 2,065,389 1,145,562 - -
Social security and other taxes 1,286,704 577,862 - -
VAT 405,366 183,009 - -
Other creditors 1,736,420 938,080 298,874 298,874
Accruals and deferred income 1,321,501 968,500 1,200 1,200
11,072,168 6,680,120 3,065,270 1,135,737

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 16) 27,134,764 17,892,488 2,333,333 3,666,667

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 2,944,916 1,649,381 1,000,000 666,667
Amounts falling due in more than five years:
Repayable by instalments
Bank loans 27,134,764 17,892,488 2,333,333 3,666,667

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 7,187 -
Between one and five years 61,020 96,957
68,207 96,957

18. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 222,133 277,121

Group
Deferred
tax
£   
Balance at 1 April 2022 277,121
Credit to Income Statement during year (54,988 )
Balance at 31 March 2023 222,133

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,002 Ordinary £1 10,002 10,002

20. RESERVES

Group
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 April 2022 20,114,527 100,000 1,078,440 21,292,967
Profit for the year 4,049,291 4,049,291
Dividends (180,000 ) (180,000 )
Eliminated on disposals - - (383,000 ) (383,000 )
At 31 March 2023 23,983,818 100,000 695,440 24,779,258

Company
Retained
earnings
£   

At 1 April 2022 1,009,408
Deficit for the year (10,880 )
Dividends (180,000 )
At 31 March 2023 818,528


21. TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
M V Santhiapillai
Balance outstanding at start of year - (5,081 )
Amounts advanced - 5,081
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

ELEANOR HEALTH CARE GROUP LIMITED (REGISTERED NUMBER: 09734885)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

21. TRANSACTIONS WITH DIRECTORS - continued

During the year, the group voted dividends of £180,000 to the director.

At the balance sheet date, the group was owed the following amounts from entities under the control of the director:
£613,600 by Santhiapillai Investments Limited
£4,404,328 by Eleanor Healthcare Holdings Limited
£739,429 by Eleanor Properties LLP

22. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M V Santhiapillai.