Registered number
06228529
Parklands Healthcare Limited
Unaudited Filleted Accounts
30 April 2024
Parklands Healthcare Limited
Registered number: 06228529
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 491,359 70,228
Current assets
Debtors 4 51,585 5,051
Cash at bank and in hand 186,484 250,686
238,069 255,737
Creditors: amounts falling due within one year 5 (93,697) (58,116)
Net current assets 144,372 197,621
Total assets less current liabilities 635,731 267,849
Creditors: amounts falling due after more than one year 6 (274,454) -
Net assets 361,277 267,849
Capital and reserves
Called up share capital 100 100
Profit and loss account 361,177 267,749
Shareholder's funds 361,277 267,849
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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.
S Sadhra
Director
Approved by the board on 15 June 2024
Parklands Healthcare Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 30 28
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 11,281 108,344 119,625
Additions 381,928 71,588 453,516
At 30 April 2024 393,209 179,932 573,141
Depreciation
At 1 May 2023 - 49,397 49,397
Charge for the year - 32,385 32,385
At 30 April 2024 - 81,782 81,782
Net book value
At 30 April 2024 393,209 98,150 491,359
At 30 April 2023 11,281 58,947 70,228
4 Debtors 2024 2023
£ £
Trade debtors 6,585 5,051
Other debtors 45,000 -
51,585 5,051
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,000 -
Trade creditors 5,564 5,422
Taxation and social security costs 11,152 10,167
Other creditors 64,981 42,527
93,697 58,116
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 103,454 -
Other creditors 171,000 -
274,454 -
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 155,000 -
Secured bank loans 115,454 -
The bank loan is repayable over 10 year and is secured with a freehold first legal charge over the property
8 Related party transactions
On 26 September 2023 the Company received a loan of £190,000 Abacus Quality Care Limited, a company controlled by Mrs D Sadhra. The loan is repayable over 10 years at a monthly interest rate of 2% on the outstanding balance. The first payment has been paid in May 2024. At 30 April 2024 the outstanding capital balance is £190,000 and is included in creditors
9 Controlling party
The ultimate controlling party is S Sadhra.
10 Other information
Parklands Healthcare Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Fairlight Drive
Barnt Green
Birmingham
B45 8TB
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