Registered number
12090081
P&N CARE HOME LTD
Filleted Abridged Accounts
31 March 2024
P&N CARE HOME LTD
Registered number: 12090081
Abridged Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 36,004 42,005
Tangible assets 4 1,713,972 1,100,263
1,749,976 1,142,268
Current assets
Debtors 164,124 128,234
Cash at bank and in hand 253,272 221,359
417,396 349,593
Creditors: amounts falling due within one year (436,366) (403,668)
Net current liabilities (18,970) (54,075)
Total assets less current liabilities 1,731,006 1,088,193
Creditors: amounts falling due after more than one year (1,141,158) (612,603)
Net assets 589,848 475,590
Capital and reserves
Called up share capital 2 2
Profit and loss account 589,846 475,588
Shareholders' funds 589,848 475,590
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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr. P Sidhpura
Director
Approved by the board on 13 August 2024
P&N CARE HOME LTD
Notes to the Abridged Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The abridged 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings 2% on cost
Fixtures, fittings, tools and equipment 20% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 80 55
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 60,007
At 31 March 2024 60,007
Amortisation
At 1 April 2023 18,002
Provided during the year 6,001
At 31 March 2024 24,003
Net book value
At 31 March 2024 36,004
At 31 March 2023 42,005
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Total
£
Cost
At 1 April 2023 1,200,776
Additions 659,731
At 31 March 2024 1,860,507
Depreciation
At 1 April 2023 100,513
Charge for the year 46,022
At 31 March 2024 146,535
Net book value
At 31 March 2024 1,713,972
At 31 March 2023 1,100,263
5 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 502,938 648,582
The bank loan is secured by fixed charge against the freehold property and other assets of the business.
6 Controlling party
The company is controlled by the directors by virtue of holding the entire share capital.
7 Other information
P&N CARE HOME LTD is a private company limited by shares and incorporated in England. Its registered office is:
6 Fairclough Close
Northolt
London
UB5 6FL
P&N CARE HOME LTD 12090081 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 Mr. P Sidhpura No description of principal activity 12090081 2022-04-01 2023-03-31 12090081 core:WithinOneYear 2023-03-31 12090081 core:AfterOneYear 2023-03-31 12090081 core:ShareCapital 2023-03-31 12090081 core:RetainedEarningsAccumulatedLosses 2023-03-31 12090081 2023-04-01 2024-03-31 12090081 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12090081 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12090081 bus:Director40 2023-04-01 2024-03-31 12090081 1 2023-04-01 2024-03-31 12090081 2 2023-04-01 2024-03-31 12090081 core:Goodwill 2023-04-01 2024-03-31 12090081 countries:England 2023-04-01 2024-03-31 12090081 bus:FRS102 2023-04-01 2024-03-31 12090081 bus:AbridgedAccounts 2023-04-01 2024-03-31 12090081 2024-03-31 12090081 core:WithinOneYear 2024-03-31 12090081 core:AfterOneYear 2024-03-31 12090081 core:ShareCapital 2024-03-31 12090081 core:RetainedEarningsAccumulatedLosses 2024-03-31 12090081 core:Goodwill 2024-03-31 12090081 2023-03-31 12090081 core:Goodwill 2023-03-31 iso4217:GBP xbrli:pure