Registered number
07336655
Northcourt Lodge Residential Care Home Limited
Filleted Accounts
31 March 2024
Northcourt Lodge Residential Care Home Limited
Registered number: 07336655
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 45,000 52,500
Tangible assets 4 978,653 1,018,551
1,023,653 1,071,051
Current assets
Debtors 5 45,800 21,743
Investments held as current assets 6 1,099,900 -
Cash at bank and in hand 116,032 212,098
1,261,732 233,841
Creditors: amounts falling due within one year 7 (1,148,679) (160,465)
Net current assets 113,053 73,376
Total assets less current liabilities 1,136,706 1,144,427
Creditors: amounts falling due after more than one year 8 (476,359) (553,014)
Net assets 660,347 591,413
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 658,347 589,413
Shareholders' funds 660,347 591,413
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr H S Surdhar Mrs R.K.Surdhar
Director
Approved by the board on 5 June 2024
Northcourt Lodge Residential Care Home Limited
Notes to the Accounts
for the year ended 31 March 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. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Premises and Improvements 2% reducing balance basis
Equipment, fixtures and fittings 15% reducing balance basis
Computer Equpment 10% Straight Line
Motor Vehicle 25% reducing balance basis
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. 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.
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 25 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 150,000
At 31 March 2024 150,000
Amortisation
At 1 April 2023 97,500
Provided during the year 7,500
At 31 March 2024 105,000
Net book value
At 31 March 2024 45,000
At 31 March 2023 52,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Premises and Improvement costs Equipment, Fixtures and Fittings Computer Equipment Motor Vehicle Total
£ £ £ £ £
Cost
At 1 April 2023 977,566 130,671 3,722 58,890 1,170,849
At 31 March 2024 977,566 130,671 3,722 58,890 1,170,849
Depreciation
At 1 April 2023 75,401 61,058 1,116 14,723 152,298
Charge for the year 18,043 10,441 372 11,042 39,898
At 31 March 2024 93,444 71,499 1,488 25,765 192,196
Net book value
At 31 March 2024 884,122 59,172 2,234 33,125 978,653
At 31 March 2023 902,165 69,613 2,606 44,167 1,018,551
5 Debtors 2024 2023
£ £
Trade debtors 32,153 7,496
Accrued Income and Prepayments 5,747 5,747
Directors Treasury Deposit 200 200
Other debtors 7,700 8,300
45,800 21,743
6 Investments held as current assets 2024 2023
£ £
Fair value
Interactive Brokers Account 1,099,900 -
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 88,244 88,244
Trade creditors 18,590 11,960
Taxation and social security costs 33,735 27,244
Director's Loan 53,303 31,499
Related Party Balance - Applegarth Care Home Limited 500,000 -
Related Party Balance - Wild Acres Rest Home Limited 450,000 -
Accruals 4,807 1,518
1,148,679 160,465
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 476,359 553,014
9 Related Party Balance 2024 2023
£ £
Applegarth Care Home Limited
Mr and Mrs Surdhar, directors and shareholders of this company are also directors and shareholders of Applegarth Care Home Limited.
An interest free and unsecured loan to Applegarth Care Home Limited yet to be reimbursed to the company.
Amount due to the related party. 500,000 -
Wild Acres Rest Home Limited
Mr and Mrs Surdhar, directors and shareholders of this company are also directors and shareholders of Wild Acres Rest Home Limited.
An interest free and unsecured loan to Wild Acres Rest Home Limited yet to be reimbursed to the company.
Amount due to the related party. 450,000 -
10 Controlling party
The directors control the company.
11 Other information
Northcourt Lodge Residential Care Home Limited is a private company limited by shares and incorporated in England. Its registered office is:
65 Northcourt Avenue
Reading
Berkshire
RG2 7HF
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