Registered number
11304261
Macc Care Group Limited
Report and Accounts
30 September 2023
Prime
Chartered Accountants and Statutory Auditors
Macc Care Group Limited
Company Information
Director
N Nathani
Auditors
Prime
161 Newhall Street
Birmingham
B3 1SW
Registered office
23 Calthorpe Road
Edgbaston
Birmingham
B15 1RP
Registered number
11304261
Macc Care Group Limited
Registered number: 11304261
Director's Report
The director presents his report and accounts for the year ended 30 September 2023.
Principal activities
The company's principal activity during the year was that of a holding company.
Directors
The following persons served as directors during the year:
S K Agarwal (Resigned 12 April 2023)
N Nathani
Statement of Director's Responsibilities
The director is responsible for preparing 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.
select suitable accounting policies and then apply them consistently;
make judgements and 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 accounts 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.
Auditor
The auditor, Prime, is deemed to be reappointed under section487(2) of the Companies Act 2006.
Disclosure of information to auditors
The director confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is 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 auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 17 July 2024 and signed on its behalf.
N Nathani
Director
Macc Care Group Limited
Independent auditors' report
to the members of Macc Care Group Limited
Opinion
We have audited the financial statements of Macc Care Group Limited ('the company') for the year ended 30 September 2023 which comprise the profit and loss account, the balance sheet, the Statement of Changes in Equity and the 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the 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 30 September 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 of 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 Auditor’s 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 directors' 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 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 there is material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this or other information, we are required to report the 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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Director has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
We have nothing to report in respect of the following matters in relation to which 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 directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.
Responsibilities of director
As explained more fully in the Statement of Director Responsibilities, 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 is 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.
Auditor’s 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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with the director and other management, and from our commercial knowledge and experience of the industry sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC and other relevant parties.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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 an Report of 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.
Morgan Davies FCA
(Senior Statutory Auditor) 161 Newhall Street
for and on behalf of Birmingham
Prime B3 1SW
Accountants and Statutory Auditors
18 July 2024
Macc Care Group Limited
Profit and Loss Account
for the year ended 30 September 2023
Notes 2023 2022
£ £
Administrative expenses (979,328) -
Operating loss (979,328) -
Profit on the disposal of investments 69,374,974 -
Income from investments 1,525,790 -
Profit on ordinary activities before taxation 69,921,436 -
Tax on profit on ordinary activities - -
Profit for the financial year 69,921,436 -
The notes form part of these financial statements
Macc Care Group Limited
Registered number: 11304261
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Investment property - -
Investments 3 1 26
Current assets
Debtors 4 38,531,517 35,857
Creditors: amounts falling due within one year 5 (110,072) (35,873)
Net current assets/(liabilities) 38,421,445 (16)
Net assets 38,421,446 10
Capital and reserves
Called up share capital 25,800 10
Profit and loss account 38,395,646 -
Shareholders' funds 38,421,446 10
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Nathani
Director
Approved by the board on 17 July 2024
The notes form part of these financial statements
Macc Care Group Limited
Statement of Changes in Equity
for the year ended 30 September 2023
Share Profit Total
capital and loss
account
£ £ £
At 1 October 2021 10 - 10
At 30 September 2022 10 - 10
At 1 October 2022 10 - 10
Profit for the financial year 69,921,436 69,921,436
Dividends (31,525,790) (31,525,790)
Shares issued 25,790 25,790
At 30 September 2023 25,800 38,395,646 38,421,446
Macc Care Group Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the provisions of section 1a FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
Investments
Investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are also recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Fixed asset investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2022 26
Additions 1
Disposals (26)
At 30 September 2023 1
The company holds 20% or more of the share capital of the following companies:
Company Class Registered Office Held Directly Held Indirectly
% %
Macc Care Group Midco Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Group Holding Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Group Services Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Willenhall) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Austin Rose) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Homes Limited Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Lichfield) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties(Stafford) Ltd Ordinary The Lodge, Castle Bromwich Hall, Chester Road, Castle Bromwich, West Midlands, B36 9DE. 100
Macc Care Properties (Solihull) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Marsh Hill) Property Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Marsh Hill) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Boldmere) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Orchard) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Kidderminster) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties ( Blythe Valley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Shirley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Studley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (LB) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Moira) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Hall Green) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Freeholds Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Melton Road) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Wyrley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Perdiswell) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Hall Green) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Moira) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Studley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Blythe Valley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Lichfield) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (LB) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Leighton Buzzard) Ltd 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Shirley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Rubery) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Kidderminster) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Lichfield) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Shirley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Boldmere) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Perdiswell) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Wyrley) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Melton Road) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Brownhills) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Brownhills) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Austin Rose Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Stafford Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Solihull Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Solihull) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Willenhall Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Developments (Boldmere) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Blythe Valley Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Studley Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (SHS) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care (Watermead) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Bilbrook) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Holdco (Redditch) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Redditch) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Wigston) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Holdco (Burton) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Burton) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Holdco (Lincoln) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Lincoln) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Holdco (Stourbridge) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Stourbridge) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Holdco (Silkmore) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
Macc Care Properties (Silkmore) Ltd Ordinary 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP 100
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings 38,531,517 35,857
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 35,857
Trade creditors 41,356 -
Amounts due to connected company 68,700 -
Directors loans 16 16
110,072 35,873
6 Controlling party
The company is a subsidiary of Macc Care Topco Limited
The ultimate holding company is Macc Care Topco Limited whose registered office is at 23 Calthorpe Road, Edgbaston, Birmingham, B15 1RP
The company is under the control of Dr N Nathani.
7 Other information
Macc Care Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
23 Calthorpe Road
Edgbaston
Birmingham
B15 1RP
The company is exempt from preparing consolidated financial statements as it is included in a larger group.
The smallest and largest group for which Group financial statements are prepared is Macc Care Topco Limited and Group financial statements can be obtained from their address.
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