IRIS Accounts Production v23.3.0.418 08211322 director 1.6.22 31.5.23 31.5.23 operation, acquisition and development of specialist care and nursing homes. true false true true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure082113222022-05-31082113222023-05-31082113222022-06-012023-05-31082113222021-05-31082113222021-06-012022-05-31082113222022-05-3108211322ns16:EnglandWales2022-06-012023-05-3108211322ns15:PoundSterling2022-06-012023-05-3108211322ns11:Director12022-06-012023-05-3108211322ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3108211322ns11:FRS1022022-06-012023-05-3108211322ns11:Audited2022-06-012023-05-3108211322ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-06-012023-05-3108211322ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-06-012023-05-3108211322ns11:FullAccounts2022-06-012023-05-3108211322ns11:OrdinaryShareClass12022-06-012023-05-3108211322ns11:RegisteredOffice2022-06-012023-05-310821132212022-06-012023-05-310821132212021-06-012022-05-3108211322ns6:CurrentFinancialInstruments2023-05-3108211322ns6:CurrentFinancialInstruments2022-05-3108211322ns6:Non-currentFinancialInstruments2023-05-3108211322ns6:Non-currentFinancialInstruments2022-05-3108211322ns6:ShareCapital2023-05-3108211322ns6:ShareCapital2022-05-3108211322ns6:RevaluationReserve2023-05-3108211322ns6:RevaluationReserve2022-05-3108211322ns6:RetainedEarningsAccumulatedLosses2023-05-3108211322ns6:RetainedEarningsAccumulatedLosses2022-05-3108211322ns6:ShareCapital2021-05-3108211322ns6:RetainedEarningsAccumulatedLosses2021-05-3108211322ns6:RevaluationReserve2021-05-3108211322ns6:RetainedEarningsAccumulatedLosses2021-06-012022-05-3108211322ns6:RevaluationReserve2021-06-012022-05-3108211322ns6:RetainedEarningsAccumulatedLosses2022-06-012023-05-3108211322ns6:RevaluationReserve2022-06-012023-05-3108211322ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-06-012023-05-3108211322ns6:PlantMachinery2022-06-012023-05-3108211322ns6:MotorVehicles2022-06-012023-05-3108211322ns6:PlantEquipmentOtherAssetsUnderOperatingLeases2022-06-012023-05-3108211322ns6:PlantEquipmentOtherAssetsUnderOperatingLeases2021-06-012022-05-3108211322ns6:OwnedAssets2022-06-012023-05-3108211322ns6:OwnedAssets2021-06-012022-05-3108211322132022-06-012023-05-3108211322132021-06-012022-05-3108211322ns6:LandBuildings2022-05-3108211322ns6:PlantMachinery2022-05-3108211322ns6:MotorVehicles2022-05-3108211322ns6:LandBuildings2022-06-012023-05-3108211322ns6:LandBuildings2023-05-3108211322ns6:PlantMachinery2023-05-3108211322ns6:MotorVehicles2023-05-3108211322ns6:LandBuildings2022-05-3108211322ns6:PlantMachinery2022-05-3108211322ns6:MotorVehicles2022-05-3108211322ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-3108211322ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-3108211322ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-05-3108211322ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-05-3108211322ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-05-3108211322ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-05-3108211322ns6:Secured2023-05-3108211322ns6:Secured2022-05-3108211322ns6:AcceleratedTaxDepreciationDeferredTax2023-05-3108211322ns6:AcceleratedTaxDepreciationDeferredTax2022-05-3108211322ns6:DeferredTaxation2022-05-3108211322ns6:DeferredTaxation2022-06-012023-05-3108211322ns6:DeferredTaxation2023-05-3108211322ns11:OrdinaryShareClass12023-05-3108211322ns6:RetainedEarningsAccumulatedLosses2022-05-3108211322ns6:RevaluationReserve2022-05-3108211322ns11:Director112022-05-3108211322ns11:Director112021-05-3108211322ns11:Director112022-06-012023-05-3108211322ns11:Director112021-06-012022-05-3108211322ns11:Director112023-05-3108211322ns11:Director112022-05-31
REGISTERED NUMBER: 08211322 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ANGEL CARE (ORCHID CARE HOMES) LTD

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 11

Notes to the Financial Statements 12


ANGEL CARE (ORCHID CARE HOMES) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: S Ruparelia





REGISTERED OFFICE: 116 Headstone Drive
Harrow
HA1 4UH





REGISTERED NUMBER: 08211322 (England and Wales)





AUDITORS: Agnon LLP
Chartered Certified Accountants and
Statutory Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
RH10 9WE

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2023


The director presents his strategic report for the year ended 31 May 2023.

The purpose of this report is to inform members and help them to assess how the directors have performed their duty to promote the success of the company.

REVIEW OF BUSINESS
The directors aim to present a balanced and comprehensive review of the performance of the business during the year under review and at the year end.

The principal activity of the company continued to be operation, acquisition and development of specialist care and nursing homes.

The directors consider that the key performance indicators for the business is occupancy and Earnings before interest, tax and depreciation.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the execution of our strategy are subject to a number of risks. The following section comprises a summary of the main risks which we we believe could potentially impact upon our operating and financial performance.

The company is exposed to price risk, credit risk and liquidity risk

The company has limited exposure to price risk. The company's policy include review and assessment of care plan, identify and manage the risk by entering into price negotiations with the local authority or other service users.

Foreign currency risk- The company has no exposure to foreign currency fluctuations.

Interest rate risk- The company has significant exposure to fluctuations in interest rates. The company has policies and procedures in place to identify and mange such risk and in the current economic conditions consider the risk as minimal.

Credit risk- The company's credit risk is minimal.

Liquidity and cash flow risk- The company ensure that there is availability of funding through committed facilities to meet all of its operational requirements.

Legal- The company is are subject to various legal and compliance regulations. The company take this responsibility seriously and ensure that its policies, system and procedures are continually updated and comply with the legal requirements and best practices

ON BEHALF OF THE BOARD:





S Ruparelia - Director


28 November 2023

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MAY 2023


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

DIVIDENDS
No dividends will be distributed for the year ended 31 May 2023.

DIRECTOR
S Ruparelia held office during the whole of the period from 1 June 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

AUDITORS
The auditors, Agnon LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Ruparelia - Director


28 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ANGEL CARE (ORCHID CARE HOMES) LTD


Opinion
We have audited the financial statements of Angel Care (Orchid Care Homes) Ltd (the 'company') for the year ended 31 May 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 May 2023 and of its 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 company 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 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 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 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 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
ANGEL CARE (ORCHID CARE HOMES) LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 three, 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 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 company or to cease operations, or has no realistic alternative but to do so.

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:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- Enquiring of management, the Audit & Risk Committee in-house and external legal counsel concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- Reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing regulatory correspondence with the Financial Conduct Authority;
- Obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ANGEL CARE (ORCHID CARE HOMES) LTD


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.




M I Ashraf (Senior Statutory Auditor)
for and on behalf of Agnon LLP
Chartered Certified Accountants and
Statutory Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
RH10 9WE

28 November 2023

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2023

31.5.23 31.5.22
Notes £    £   

TURNOVER 7,231,061 4,343,216

Cost of sales 5,014,209 3,554,155
GROSS PROFIT 2,216,852 789,061

Administrative expenses 915,850 746,872
1,301,002 42,189

Other operating income 434,218 278,051
OPERATING PROFIT 4 1,735,220 320,240

Irrecoverable debts 5 - 2,329,092
1,735,220 (2,008,852 )


Interest payable and similar expenses 6 462,124 154,676
PROFIT/(LOSS) BEFORE TAXATION 1,273,096 (2,163,528 )

Tax on profit/(loss) 7 263,096 99,152
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

1,010,000

(2,262,680

)

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2023

31.5.23 31.5.22
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 1,010,000 (2,262,680 )


OTHER COMPREHENSIVE INCOME
Revaluation reserve - 7,061,149
Income tax relating to other comprehensive
income

-

(1,341,618

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

-

5,719,531
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,010,000

3,456,851

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 24,397,762 25,170,934

CURRENT ASSETS
Debtors 9 2,265,886 2,056,507
Cash at bank 546,852 212,300
2,812,738 2,268,807
CREDITORS
Amounts falling due within one year 10 1,552,090 1,361,701
NET CURRENT ASSETS 1,260,648 907,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,658,410

26,078,040

CREDITORS
Amounts falling due after more than one year 11 (11,441,903 ) (12,869,284 )

PROVISIONS FOR LIABILITIES 14 (1,451,198 ) (1,453,447 )
NET ASSETS 12,765,309 11,755,309

CAPITAL AND RESERVES
Called up share capital 15 1 1
Revaluation reserve 16 10,132,273 10,132,273
Retained earnings 16 2,633,035 1,623,035
SHAREHOLDERS' FUNDS 12,765,309 11,755,309

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

BALANCE SHEET - continued
31 MAY 2023


The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





S Ruparelia - Director


ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 June 2021 1 3,885,715 4,412,742 8,298,458

Changes in equity
Total comprehensive income - (2,262,680 ) 5,719,531 3,456,851
Balance at 31 May 2022 1 1,623,035 10,132,273 11,755,309

Changes in equity
Total comprehensive income - 1,010,000 - 1,010,000
Balance at 31 May 2023 1 2,633,035 10,132,273 12,765,309

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Angel Care (Orchid Care Homes) Ltd 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 Company 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 as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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
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
Plant and machinery - 15% on cost
Motor vehicles - 25% on reducing balance

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.


ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.5.23 31.5.22
£    £   
Wages and salaries 3,791,813 2,574,906
Social security costs 321,343 204,281
Other pension costs 65,445 47,861
4,178,601 2,827,048

The average number of employees during the year was as follows:
31.5.23 31.5.22

Nursing and care 180 161
Administration 4 4
184 165

31.5.23 31.5.22
£    £   
Director's remuneration - -

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.5.23 31.5.22
£    £   
Hire of plant and machinery 17,030 15,897
Depreciation - owned assets 424,659 415,611
Profit on disposal of fixed assets (357,806 ) -
Auditors' remuneration 2,500 2,500

5. EXCEPTIONAL ITEMS
31.5.23 31.5.22
£    £   
Irrecoverable debts - (2,329,092 )

Exceptional items relate to non trading debts due from related a party over which the directors have controlling interest.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.5.23 31.5.22
£    £   
Bank interest 462,124 154,526
Sundry interest - 150
462,124 154,676

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.5.23 31.5.22
£    £   
Current tax:
UK corporation tax 265,345 -

Deferred tax (2,249 ) 99,152
Tax on profit/(loss) 263,096 99,152

UK corporation tax has been charged at 20% .

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.5.23 31.5.22
£    £   
Profit/(loss) before tax 1,273,096 (2,163,528 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
20% (2022 - 19%)

254,619

(411,070

)

Effects of:
Expenses not deductible for tax purposes - 442,527
Income not taxable for tax purposes (71,561 ) -
Depreciation in excess of capital allowances 12,569 534,234
Chargeable gains 69,682 -
Other adjustments 36 (565,691 )
Deferred tax adjustment (2,249 ) 99,152
Total tax charge 263,096 99,152

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 May 2023.

31.5.22
Gross Tax Net
£    £    £   
Revaluation reserve 7,061,149 (1,341,618 ) 5,719,531

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


8. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 June 2022 25,624,965 1,310,035 12,600 26,947,600
Additions 1 97,094 - 97,095
Disposals (454,702 ) - - (454,702 )
At 31 May 2023 25,170,264 1,407,129 12,600 26,589,993
DEPRECIATION
At 1 June 2022 1,010,480 754,096 12,090 1,776,666
Charge for year 303,636 121,023 - 424,659
Eliminated on disposal (9,094 ) - - (9,094 )
At 31 May 2023 1,305,022 875,119 12,090 2,192,231
NET BOOK VALUE
At 31 May 2023 23,865,242 532,010 510 24,397,762
At 31 May 2022 24,614,485 555,939 510 25,170,934

Included in cost or valuation of land and buildings is freehold land of £ 3,652,000 (2022 - £ 3,652,000 ) which is not depreciated.

Cost or valuation at 31 May 2023 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2013 4,454,095 - - 4,454,095
Valuation in 2015 658,152 - - 658,152
Valuation in 2022 7,061,148 - - 7,061,148
Cost 12,996,869 1,407,129 12,600 14,416,598
25,170,264 1,407,129 12,600 26,589,993

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


8. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 13,451,570 13,451,570
Aggregate depreciation 1,010,480 1,010,480

Value of land in freehold land and buildings 3,652,000 3,652,000

Freehold land and buildings were valued on an open market value basis on 14 November 2022 by Cushman & Wakefield .

9. DEBTORS
31.5.23 31.5.22
£    £   
Amounts falling due within one year:
Trade debtors 169,095 186,580
Other debtors 1,776,042 1,745,932
Prepayments and accrued income 116,242 123,995
2,061,379 2,056,507

Amounts falling due after more than one year:
Amounts owed by group undertakings 204,507 -

Aggregate amounts 2,265,886 2,056,507

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts (see note 12) 456,000 456,000
Trade creditors 224,436 253,122
Tax 416,796 181,034
Social security and other taxes 182,756 184,446
Other creditors 241,010 225,472
Directors' current accounts 22,092 61,627
Accrued expenses 9,000 -
1,552,090 1,361,701

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 12) 9,110,086 10,197,000
Amounts owed to group undertakings 2,331,817 2,672,284
11,441,903 12,869,284

12. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 456,000 456,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 528,000 528,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,584,000 1,584,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,998,086 8,085,000

13. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 9,566,086 10,653,000

The bank overdrafts and loans are secured by a first legal charge over the assets of the company.

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


14. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 9,146 11,395
Other timing differences 1,341,618 1,341,618
Deferred tax 100,434 100,434
1,451,198 1,453,447

Deferred
tax
£   
Balance at 1 June 2022 1,453,447
Provided during year (2,249 )
Other timing differences
Balance at 31 May 2023 1,451,198

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1 1 1

16. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2022 1,623,035 10,132,273 11,755,308
Profit for the year 1,010,000 1,010,000
At 31 May 2023 2,633,035 10,132,273 12,765,308

17. ULTIMATE PARENT COMPANY

Angel Care Plc (incorporated in England ) is regarded by the director as being the company's ultimate parent company.

ANGEL CARE (ORCHID CARE HOMES) LTD (REGISTERED NUMBER: 08211322)

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


18. AMOUNTS PAYABLE TO DIRECTOR

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

31.5.23 31.5.22
£    £   
S Ruparelia
Balance outstanding at start of year 61,626 67,392
Amounts repaid (39,534 ) (5,766 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,092 61,626

19. ULTIMATE CONTROLLING PARTY

The controlling party is S Ruparelia.

The ultimate controlling party is S Ruparelia.