IRIS Accounts Production v24.2.0.383 SC436967 Board of Directors 1.12.22 30.11.23 30.11.23 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4369672022-11-30SC4369672023-11-30SC4369672022-12-012023-11-30SC4369672021-11-30SC4369672021-12-012022-11-30SC4369672022-11-30SC436967ns15:Scotland2022-12-012023-11-30SC436967ns14:PoundSterling2022-12-012023-11-30SC436967ns10:Director12022-12-012023-11-30SC436967ns10:PrivateLimitedCompanyLtd2022-12-012023-11-30SC436967ns10:SmallEntities2022-12-012023-11-30SC436967ns10:AuditExemptWithAccountantsReport2022-12-012023-11-30SC436967ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-30SC436967ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-30SC436967ns10:FullAccounts2022-12-012023-11-30SC43696712022-12-012023-11-30SC436967ns10:Director22022-12-012023-11-30SC436967ns10:RegisteredOffice2022-12-012023-11-30SC436967ns5:CurrentFinancialInstruments2023-11-30SC436967ns5:CurrentFinancialInstruments2022-11-30SC436967ns5:Non-currentFinancialInstruments2023-11-30SC436967ns5:Non-currentFinancialInstruments2022-11-30SC436967ns5:ShareCapital2023-11-30SC436967ns5:ShareCapital2022-11-30SC436967ns5:RetainedEarningsAccumulatedLosses2023-11-30SC436967ns5:RetainedEarningsAccumulatedLosses2022-11-30SC436967ns5:NetGoodwill2022-12-012023-11-30SC436967ns5:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30SC436967ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-12-012023-11-30SC436967ns5:FurnitureFittings2022-12-012023-11-30SC436967ns5:NetGoodwill2022-11-30SC436967ns5:NetGoodwill2023-11-30SC436967ns5:NetGoodwill2022-11-30SC436967ns5:LandBuildings2022-11-30SC436967ns5:FurnitureFittings2022-11-30SC436967ns5:LandBuildings2022-12-012023-11-30SC436967ns5:LandBuildings2023-11-30SC436967ns5:FurnitureFittings2023-11-30SC436967ns5:LandBuildings2022-11-30SC436967ns5:FurnitureFittings2022-11-30SC436967ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-11-30SC436967ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-11-30SC436967ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-11-30SC436967ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-11-30SC436967ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-11-30SC436967ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-11-30SC436967ns5:Secured2023-11-30SC436967ns5:Secured2022-11-30
REGISTERED NUMBER: SC436967 (Scotland)















HARVEYS HEALTHCARE CROFTHEAD LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9

Chartered Accountants' Report 10

HARVEYS HEALTHCARE CROFTHEAD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Vinay Kumar
Vijay Kumar





REGISTERED OFFICE: 24 Fairley Street
Ibrox
Glasgow
G51 2SN





REGISTERED NUMBER: SC436967 (Scotland)





ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 4,000
Tangible assets 5 1,870,529 1,914,642
1,873,529 1,918,642

CURRENT ASSETS
Debtors 6 940 -
Cash at bank 796 4,801
1,736 4,801
CREDITORS
Amounts falling due within one year 7 1,289,332 1,281,248
NET CURRENT LIABILITIES (1,287,596 ) (1,276,447 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,933

642,195

CREDITORS
Amounts falling due after more than one
year

8

389,022

472,694
NET ASSETS 196,911 169,501

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 196,811 169,401
SHAREHOLDERS' FUNDS 196,911 169,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





Vijay Kumar - Director


HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Harveys Healthcare Crofthead Ltd is a private company, limited by shares, registered in Scotland. The Company's registered number is SC436967 and registered office address is 24 Fairley Street, Ibrox, Glasgow, G51 2SN.

The nature of the Company's operations and its principal activities for the year under review was that of residential care activities for the elderly.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on cost

HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
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 Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 10,000
AMORTISATION
At 1 December 2022 6,000
Charge for year 1,000
At 30 November 2023 7,000
NET BOOK VALUE
At 30 November 2023 3,000
At 30 November 2022 4,000

HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 2,205,680 3,000 2,208,680
DEPRECIATION
At 1 December 2022 291,038 3,000 294,038
Charge for year 44,113 - 44,113
At 30 November 2023 335,151 3,000 338,151
NET BOOK VALUE
At 30 November 2023 1,870,529 - 1,870,529
At 30 November 2022 1,914,642 - 1,914,642

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Other debtors 940 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts 78,000 92,328
Corporation tax 47,641 45,229
Other creditors 1,029,220 1,009,220
Directors' current accounts 134,471 134,471
1,289,332 1,281,248

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Bank loans - 1-2 years 78,000 92,328
Bank loans - 2-5 years 234,000 276,984
Bank loans more 5 yr by instal 77,022 103,382
389,022 472,694

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 77,022 103,382

HARVEYS HEALTHCARE CROFTHEAD LTD (REGISTERED NUMBER: SC436967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30/11/23 30/11/22
£    £   
Bank loans 467,022 565,022

The bank loan is secured by a standard security over the property held by the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company benefited from an interest free loan from one of its directors, Mr Vijay Kumar. The balance outstanding as at the 30th November 2023 amounted to £134,471 (2022 - £134,471).

11. RELATED PARTY DISCLOSURES

Included in other debtors is a loan to an associated company, Harveys Healthcare (Scotland) Ltd. The balance outstanding as at 30 November 2023 amounted to £940 (2022 - £nil).

Included in other creditors is a loan from an associated company, LSHOL Ltd. The balance outstanding as at 30 November 2023 amounted to £580,165 (2022 - £580,165).

Also included in other creditors is a loan from an associated company, Ocean Investments (Scotland) Ltd. The balance outstanding as at 30 November 2023 amounted to £154,035 (2022 - £154,035).

Also included in other creditors is a loan from an associated company, HHCHOL Ltd. The balance outstanding as at 30 November 2023 amounted to £275,020 (2022 - £275,020).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Vijay Kumar.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HARVEYS HEALTHCARE CROFTHEAD LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harveys Healthcare Crofthead Ltd for the year ended 30 November 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Harveys Healthcare Crofthead Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Harveys Healthcare Crofthead Ltd and state those matters that we have agreed to state to the Board of Directors of Harveys Healthcare Crofthead Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Harveys Healthcare Crofthead Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Harveys Healthcare Crofthead Ltd. You consider that Harveys Healthcare Crofthead Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Harveys Healthcare Crofthead Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


13 August 2024