Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-05-10Care home providertrue1true 14097955 2022-05-09 14097955 2022-05-10 2023-05-31 14097955 2021-05-10 2022-05-09 14097955 2023-05-31 14097955 c:Director1 2022-05-10 2023-05-31 14097955 d:FreeholdInvestmentProperty 2022-05-10 2023-05-31 14097955 d:FreeholdInvestmentProperty 2023-05-31 14097955 d:CurrentFinancialInstruments 2023-05-31 14097955 d:Non-currentFinancialInstruments 2023-05-31 14097955 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14097955 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 14097955 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 14097955 d:ShareCapital 2022-05-10 2023-05-31 14097955 d:ShareCapital 2023-05-31 14097955 d:RetainedEarningsAccumulatedLosses 2022-05-10 2023-05-31 14097955 d:RetainedEarningsAccumulatedLosses 2023-05-31 14097955 c:FRS102 2022-05-10 2023-05-31 14097955 c:AuditExempt-NoAccountantsReport 2022-05-10 2023-05-31 14097955 c:FullAccounts 2022-05-10 2023-05-31 14097955 c:PrivateLimitedCompanyLtd 2022-05-10 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 14097955









CARE HOME KENT PORTFOLIO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
CARE HOME KENT PORTFOLIO LIMITED
REGISTERED NUMBER: 14097955

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Investment property
 4 
9,672,752

  
9,672,752

Current assets
  

Debtors: amounts falling due within one year
 5 
68,760

Cash at bank and in hand
 6 
110,340

  
179,100

Creditors: amounts falling due within one year
 7 
(3,500)

Net current assets
  
 
 
175,600

Total assets less current liabilities
  
9,848,352

Creditors: amounts falling due after more than one year
 8 
(9,949,828)

  

Net (liabilities)/assets
  
(101,476)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(101,477)

  
(101,476)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
CARE HOME KENT PORTFOLIO LIMITED
REGISTERED NUMBER: 14097955
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 April 2024.




Geva Dagan
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
CARE HOME KENT PORTFOLIO LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period

-
(101,477)
(101,477)


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
(101,477)
(101,477)


Contributions by and distributions to owners

Shares issued during the period
1
-
1


Total transactions with owners
1
-
1


At 31 May 2023
1
(101,477)
(101,476)

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
CARE HOME KENT PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

The Company is a private company limited by share capital and incorporated in England & Wales. The principal activity of the Company is the rental of freehold investment properties.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the rent received or receivable. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
CARE HOME KENT PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Page 5

 
CARE HOME KENT PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


        2023
            No.






Director
1


4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
9,672,752



At 31 May 2023
9,672,752









Page 6

 
CARE HOME KENT PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Debtors

2023
£


Other debtors
1

Prepayments and accrued income
68,759

68,760



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
110,340

110,340



7.


Creditors: Amounts falling due within one year

2023
£

Accruals and deferred income
3,500

3,500



8.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
5,359,200

Amounts owed to parent company
4,590,628

9,949,828


The bank loans are secured on the freehold properties owned by the Company. 

Page 7

 
CARE HOME KENT PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
£




Amounts falling due after more than 5 years

Bank loans
5,359,200

5,359,200

5,359,200



10.


Controlling party

The parent company is Care Home Kent Holdco Limited, a company registered in England & Wales.

 
Page 8