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REGISTERED NUMBER: 11176199 (England and Wales)















SAFFRONLAND HOMES 3 LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023






SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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 10

Notes to the Financial Statements 11


SAFFRONLAND HOMES 3 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr A M Lakhani





REGISTERED OFFICE: Maple House
121B Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2DR





REGISTERED NUMBER: 11176199 (England and Wales)





AUDITORS: Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023


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

REVIEW OF BUSINESS
The care homes continue to provide qualitative services as verified by independent regulatory authority checks. There has been a focus within the Group on extending their care facilities within complex care.

Turnover for the year ended 31 July 2023 totalled £6,051,986 (2022: £5,846,677), with a gross profit of £1,187,522 (2022: £1,441,904).

The director is satisfied with the performance of the company given the challenging economic conditions in the UK, including managing rising costs across the board, in particular on energy costs.

The average occupancy rate during the year was 90% (2022: 82%).

FUTURE DEVELOPMENTS
The director considers that the programme of capital expansion, combined with identifying new care markets, will result in an increase in future profitability. Management policies will continue to be reviewed in the light of changing trading conditions.

PRINCIPAL RISKS AND UNCERTAINTIES
The key business risks and uncertainties relate to the current economic climate and possible cut backs by the referring agencies in terms of care purchasing. The Company has taken measures to refine its services provision and reconfigure its care categories with a view to targeting new sustainable income streams.

FINANCIAL RISK MANAGEMENT
The Company recognises the potential of financial risks given the current economic climates and is active in managing such risks.

LIQUIDITY RISKS
The director recognises the importance of funding and liquidity under the current economic climate and will continue to monitor the Company's financial resources to ensure that the Company is able to support its activities and future growth.

INTEREST RATE AND CASH FLOW RISKS
The group of which the Company is a part has interest bearing liabilities such as bank loans which attracts interest at variable SONIA rates. An element of this bank loan is utilised within the Company via funds injected by the parent Company. The group manages the liquidity risk by ensuring there are sufficient funds to meet amounts due.

ON BEHALF OF THE BOARD:





Mr A M Lakhani - Director


27 June 2024

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 JULY 2023


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

DIVIDENDS
The total distribution of dividends for the year ended 31 July 2023 will be £Nil (2022: £nil).

DIRECTOR
Mr A M Lakhani held office during the whole of the period from 1 August 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, Rothmans Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A M Lakhani - Director


27 June 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAFFRONLAND HOMES 3 LIMITED


Opinion
We have audited the financial statements of Saffronland Homes 3 Limited (the 'company') for the year ended 31 July 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 July 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAFFRONLAND HOMES 3 LIMITED


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:

We obtained an understanding of the legal and regulatory framework that the Company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect of the operations of the Company. The key laws and relations we considered in this context included the UK Companies Act and the Care Quality Commission (CQC) regulations.

Discussions were held within the engagement team regarding how and where fraud might occur in the Financial Statements and any potential indicators of fraud. As part of this discussion, we identified potential risk areas such as the completeness of revenue and liabilities. Audit procedures were designed to ensure all of the risks were addressed.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

o enquiring of management as to actual and potential litigation and claims; and
o reviewing any correspondence with regulators and the Company's legal advisors.
o reviewing reports from CQC inspections and action plans.

To address the risk of fraud through management bias and override of controls, we:

o performed analytical procedures to identify any unusual or unexpected relationships;
o tested journal entries to identify unusual transactions and bias.

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 director and other management and the inspection of regulatory and legal correspondence, if any.

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
SAFFRONLAND HOMES 3 LIMITED


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.




Liz Martyn ACA (Senior Statutory Auditor)
for and on behalf of Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

28 June 2024

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £ £

TURNOVER 3 6,051,986 5,846,677

Cost of sales 4,864,464 4,404,773
GROSS PROFIT 1,187,522 1,441,904

Administrative expenses 983,942 818,597
203,580 623,307

Other operating income 4 11,166 134,818
OPERATING PROFIT 6 214,746 758,125

Interest receivable and similar income 1,342 371
216,088 758,496

Interest payable and similar expenses 7 8,777 27,311
PROFIT BEFORE TAXATION 207,311 731,185

Tax on profit 8 (346,348 ) 166,770
PROFIT FOR THE FINANCIAL YEAR 553,659 564,415

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £ £

PROFIT FOR THE YEAR 553,659 564,415


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

553,659

564,415

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 15,985,345 16,071,339

CURRENT ASSETS
Stocks 10 3,000 3,000
Debtors 11 287,971 601,759
Cash at bank 7,897 220,772
298,868 825,531
CREDITORS
Amounts falling due within one year 12 4,425,874 5,604,648
NET CURRENT LIABILITIES (4,127,006 ) (4,779,117 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,858,339

11,292,222

PROVISIONS FOR LIABILITIES 14 23,078 10,620
NET ASSETS 11,835,261 11,281,602

CAPITAL AND RESERVES
Called up share capital 15 200 200
Share premium 16 9,980,244 9,980,244
Retained earnings 16 1,854,817 1,301,158
SHAREHOLDERS' FUNDS 11,835,261 11,281,602

The financial statements were approved by the director and authorised for issue on 27 June 2024 and were signed by:





Mr A M Lakhani - Director


SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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

Called up
share Retained Share Total
capital earnings premium equity
£ £ £ £
Balance at 1 August 2021 200 736,743 9,980,244 10,717,187

Changes in equity
Total comprehensive income - 564,415 - 564,415
Balance at 31 July 2022 200 1,301,158 9,980,244 11,281,602

Changes in equity
Total comprehensive income - 553,659 - 553,659
Balance at 31 July 2023 200 1,854,817 9,980,244 11,835,261

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


1. COMPANY INFORMATION

Saffronland Homes 3 Limited is a private limited company, limited by shares, registered in England and Wales. The company's registered number is 11176199 and the address of its registered office is 121B Winchester Road, Chandlers Ford, Eastleigh, Hampshire, SO53 2DR.

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.

The presentation currency is £ sterling.

Going concern
The financial statements have been prepared on the going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions 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;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirement of paragraph 33.7.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1)Impairment of assets
Management use their judgement to determine if there are any indicators of impairment.

2) Leases

A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an
operating lease and is therefore not included in the statement of financial position.

Other key sources of estimation uncertainty;

1)Tangible fixed assets


Management estimate the useful life and residual value of tangible fixed assets based on market
information and their knowledge of the business, the remaining life of the asset and projected disposal
value.

Turnover
Turnover is generated from the provision of residential care services.

Turnover is recognised based on the occupation of the residential care homes and adjusted for accrued and deferred income where necessary.

Turnover is exempt from Value Added Tax.

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All tangible fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of tangible fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold propertyStraight line over 120 years
Fixtures and fittings25% straight line
Motor vehicles25% straight line
Computer equipment25% straight line
Plant and machinery25% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchases on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

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 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 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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remaining with the lessor are charged to the Income Statement on a straight line basis over the period of the lease.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid and final equity dividends are recognised when approved by the shareholders at an annual general meeting.

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the Income Statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 Income Statement in the period to which they relate.

Government grants
Grants of a revenue nature are credited to the Income Statement in the period to which they relate in accordance with the terms of the grant. Any accrued or deferred element of the grant is included in debtors or creditors as applicable. All grants received in both the current and prior period relate to COVID-19 support.

3. TURNOVER

The turnover and profit before taxation are attributable to the provision of services and all arose within the United Kingdom.

4. OTHER OPERATING INCOME
2023 2022
£ £
Government grants 11,166 134,818

5. EMPLOYEES AND DIRECTORS
2023 2022
£ £
Wages and salaries 4,325,765 3,928,208
Social security costs 186,544 149,712
Other pension costs 43,992 34,000
4,556,301 4,111,920

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

Nursing and catering staff - part time 18 17
Nursing and catering staff - full time 66 64
84 81

2023 2022
£ £
Director's remuneration - -

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


6. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£ £
Depreciation - owned assets 169,509 183,495
Auditors remuneration 8,085 7,350
Hire of Plant and Machinery 8,025 3,361
Operating lease payments 29,400 33,600

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£ £
Interest payable 5,271 -
Other similar charges 3,506 27,311
8,777 27,311

8. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax - 40,000
Over/under provision in prior
year (358,806 ) 116,150
Total current tax (358,806 ) 156,150

Deferred tax 12,458 10,620
Tax on profit (346,348 ) 166,770

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

2023 2022
£ £
Profit before tax 207,311 731,185
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

51,828

138,925

Effects of:
Expenses not deductible for tax purposes 34,521 34,301
Adjustments to tax charge in respect of previous periods (358,806 ) 116,150
Movement in deferred tax unprovided 300 8,071
Movement in deferred tax - changes in tax rates - 2,549
Impact of super deduction (2,314 ) (2,240 )
Group relief (71,877 ) (130,986 )
Total tax (credit)/charge (346,348 ) 166,770

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 August 2022 16,570,000 15,342 151,907
Additions 4,271 - 70,588
Disposals - (15,342 ) (77,446 )
At 31 July 2023 16,574,271 - 145,049
DEPRECIATION
At 1 August 2022 552,334 14,892 108,033
Charge for year 138,083 450 25,432
Eliminated on disposal - (15,342 ) (77,446 )
At 31 July 2023 690,417 - 56,019
NET BOOK VALUE
At 31 July 2023 15,883,854 - 89,030
At 31 July 2022 16,017,666 450 43,874

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 August 2022 9,042 25,754 16,772,045
Additions - 8,656 83,515
Disposals - (9,237 ) (102,025 )
At 31 July 2023 9,042 25,173 16,753,535
DEPRECIATION
At 1 August 2022 8,841 16,606 700,706
Charge for year 201 5,343 169,509
Eliminated on disposal - (9,237 ) (102,025 )
At 31 July 2023 9,042 12,712 768,190
NET BOOK VALUE
At 31 July 2023 - 12,461 15,985,345
At 31 July 2022 201 9,148 16,071,339

The freehold properties of the company are secured against the groups bank loan.

10. STOCKS
2023 2022
£ £
Stocks 3,000 3,000

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 231,220 541,907
Other debtors 3,790 2,657
Prepayments and accrued income 52,961 57,195
287,971 601,759

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 727,589 687,972
Amounts owed to group undertakings 3,302,101 4,041,145
Corporation tax 97,136 574,766
Other creditors 186,722 169,364
Accruals and deferred income 112,326 131,401
4,425,874 5,604,648

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 33,237 29,668
Between one and five years 157,872 -
In more than five years 86,250 -
277,359 29,668

14. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 23,078 10,620

Deferred tax
£
Balance at 1 August 2022 10,620
Provided during year 12,458
Balance at 31 July 2023 23,078

The deferred tax provision relates solely to accelerated capital allowances.

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
200 Ordinary £1 200 200

Shares rank equally for voting purposes. On a show of hands each member shall have one vote and on a poll each member shall have one vote per share held. The voting rights are more particularly described in the articles of association.

SAFFRONLAND HOMES 3 LIMITED (REGISTERED NUMBER: 11176199)

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


16. RESERVES
Retained Share
earnings premium Totals
£ £ £

At 1 August 2022 1,301,158 9,980,244 11,281,402
Profit for the year 553,659 553,659
At 31 July 2023 1,854,817 9,980,244 11,835,061

Retained earnings includes all current and prior period retained profits and losses.

The share premium account includes any premiums received on issue of share capital, net of any transaction costs associated with the issuing of the shares.

17. CONTINGENT LIABILITIES

The company has a cross guarantee with its holding company, Saffronland Group Limited, in favour of Coutts & Company to guarantee its loan. The total indebtedness at the balance sheet date was £16,558,000 (2022: £16,094,000).

18. RELATED PARTY DISCLOSURES

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.

Associated entities which have common control with the company have outstanding balances at the period end. At the period end there is £nil (2022: £nil) included within other debtors.

19. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Saffronland Group Limited and its ultimate parent undertaking is Saffronland Investments Limited, a company incorporated in England and Wales. The ultimate control of that company is exercise by Mr A M Lakhani.

The largest and smallest group in which the results of the company are consolidated is that headed by Saffronland Investments Limited, incorporated in England & Wales. The consolidated accounts of this company are available to the public and may be obtained from Companies House. No other group accounts include the results of the company.