REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Meadow Care Homes Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Meadow Care Homes Ltd |
Meadow Care Homes Ltd (Registered number: 05442816) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Meadow Care Homes Ltd |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants (ICAEW) |
Redland House |
157 Redland Road |
Redland |
Bristol |
BS6 6YE |
Meadow Care Homes Ltd (Registered number: 05442816) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Meadow Care Homes Ltd (Registered number: 05442816) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Meadow Care Homes Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
2/3 Belvedere Road | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
The directors have carried out a full impairment review in accordance with Financial Reporting Standard 11, as a result of which no depreciation charge is made in respect of freehold property on the grounds that the estimated residual value is not materially different from its carrying value in the Balance Sheet. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 balance sheet date. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Meadow Care Homes Ltd (Registered number: 05442816) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
2/3 | Fixtures |
Belvedere | and | Motor | Computer |
Road | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Included within Fixtures and Fittings, are assets of £180,460, which were acquired under a finance lease. |
Included within Motor vehicles are assets of £49,530, which were acquired under a hire purchase agreement, |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
Additions |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
MCH 2 partnership | 2,010,304 | 1,749,772 |
Deferred tax asset |
Prepayments |
Amounts falling due after more than one year: |
Baryah properties & other long term debtors | 1,447,582 | 1,175,127 |
Aggregate amounts |
Meadow Care Homes Ltd (Registered number: 05442816) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other loans - less than 1 yr | 54,597 | 237,512 |
Hire purchase contracts |
Trade creditors | 47,625 | 44,868 |
Tax |
Social security and other taxes |
Advance fees | 13,583 | 5,649 |
RBS business credit card | 12,792 | - |
Payroll Control a/c | 97,255 | 81,926 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other Loans - 1-5 years | - | 40,399 |
Hire purchase contracts |
9. | RELATED PARTY DISCLOSURES |
During the period, the company held an interest free loan due from Baryahs' Properties, a property investment partnership in which all the directors are partners.The balance due to the company as at 30 June 2023 amounted to £1,323,653 (2022; £1,073,494). The balance is shown in debtors falling due after more than one year. |
During the period, JS & GS Properties a property investment partnership of which Messrs G S & J S Baryah are partners, had a balance due to the company as at 30 June 2023 which amounted to £103,790 (2022: £96,590). The loan was made on an interest free basis.The balance is shown in debtors falling due after more than one year |
Baryah's at Fishponds, a convenience store partnership which Messrs G S & J S Baryah are partners, had a balance due to the company as at 30 June 2023 which amounted to £8,134 (2022: £8,134). The loan was made on an interest free basis.The balance is shown in debtors falling due after more than one year. |
During the period, the company had an amount due from Meadow Care 2 partnership, in which all the directors are partners.The balance due to the company as at 30 June 2023 amounted to £2,010,304 (2022; £1,749,772). |
During the year there was a administration recharge fee received from Meadow Care 2 partnership of £120,000 (2022; £60,000), in respect the integrated costs and services between the two care homes. |
10. | ULTIMATE CONTROLLING PARTY |
Meadow Care Homes Limited was under the joint control of the directors by virtue of their shareholdings' in the company. |