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REGISTERED NUMBER: 09058744 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AMICARE HOLDINGS LIMITED

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMICARE HOLDINGS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: M L Malhan
A Malhan
W Malhan





SECRETARY: M L Malhan





REGISTERED OFFICE: Amicare House
Thurmaston Village Court
651 Melton Road
Leicester
LE4 8EB





REGISTERED NUMBER: 09058744 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,506,809 2,518,472
Investments 6 180 180
2,506,989 2,518,652

CURRENT ASSETS
Debtors 7 581,473 1,731,984
Cash at bank 522,247 384,275
1,103,720 2,116,259
CREDITORS
Amounts falling due within one year 8 (513,580 ) (559,061 )
NET CURRENT ASSETS 590,140 1,557,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,097,129

4,075,850

CREDITORS
Amounts falling due after more than one
year

9

(513,299

)

(629,286

)
NET ASSETS 2,583,830 3,446,564

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,583,730 3,446,464
SHAREHOLDERS' FUNDS 2,583,830 3,446,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

BALANCE SHEET - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





M L Malhan - Director


AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Amicare Holdings Limited is a limited company, registered in England and Wales. Its registered office address is Amicare House Thurmaston Village Court, 651 Melton Road, Thurmaston, Leicester, LE4 8EB and the registered number is 09058744.

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 presentational currency of the financial statements is Sterling (£) and the figures are rounded to the nearest £1.

Preparation of consolidated financial statements
The company and its subsidiary form a small group. The company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the company as a single entity.

Turnover
Turnover represents rental and consultancy income and is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, was being amortised evenly over its estimated useful life of five years. The goodwill is now fully amortised.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.
Depreciation is provided on the following basis:

Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

No depreciation is made on freehold land and buildings. The policy of not providing for depreciation on freehold buildings is a departure from the requirement of the Companies Act 2006 concerning the depreciation of fixed assets. It is in the opinion of the directors that the life of the assets are so long and their residual value so high, that depreciation is insignificant. Annual impairment reviews are undertaken to confirm this treatment.

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at
transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investments
Investments are held at cost less any provision for impairment where appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 80,000
AMORTISATION
At 1 April 2023
and 31 March 2024 80,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
land & and Computer
buildings fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,370,045 353,596 25,606 2,749,247
Additions - 4,714 - 4,714
At 31 March 2024 2,370,045 358,310 25,606 2,753,961
DEPRECIATION
At 1 April 2023 - 209,014 21,761 230,775
Charge for year - 14,889 1,488 16,377
At 31 March 2024 - 223,903 23,249 247,152
NET BOOK VALUE
At 31 March 2024 2,370,045 134,407 2,357 2,506,809
At 31 March 2023 2,370,045 144,582 3,845 2,518,472

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 180
NET BOOK VALUE
At 31 March 2024 180
At 31 March 2023 180

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 124,197 122,744
Amounts owed by group undertakings 207,600 4,942
Other debtors 249,676 1,604,298
581,473 1,731,984

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 118,120 118,120
Trade creditors 707 2,111
Amounts owed to group undertakings 766 -
Taxation and social security 109,160 156,324
Other creditors 284,827 282,506
513,580 559,061

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 513,299 629,286

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years by
instalments

-

511,166

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,024 1,296
Between one and five years 1,504 -
10,528 1,296

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 631,419 747,406

The bank loan is secured by an unlimited debenture from the company, a guarantee from M Malhan for a principal amount of £140,000 plus interest and other costs, and a first legal charge over the premises.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M L Malhan
Balance outstanding at start of year (8,092 ) (21,469 )
Amounts advanced 62,113 95,035
Amounts repaid (45,000 ) (81,658 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,021 (8,092 )

AMICARE HOLDINGS LIMITED (REGISTERED NUMBER: 09058744)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

A Malhan
Balance outstanding at start of year 1,004,210 (14,065 )
Amounts advanced 493,651 1,221,242
Amounts repaid (1,347,155 ) (202,967 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 150,706 1,004,210

W Malhan
Balance outstanding at start of year (6,171 ) -
Amounts advanced 165,021 121,444
Amounts repaid (160,000 ) (127,615 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,150 ) (6,171 )

13. 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.

During the year, the company provided rent of £205,500 (2023: £226,504) to a company with common directors. At the year end, a balance of £3,916 (2023: £328,529) was owed from the company. This is within trade and other debtors at the year end.

During the year, the company provided consultancy services of £Nil (2023: £52,614) to a company with common directors. At the year end, a balance of £Nil (2023: £10,500) was owed from the company. This is within trade debtors at the year end.

At the year end, a balance of £207,600 (2023: £270,000) was owed from a company with common directors. This is within other debtors at the year end.

At the year end, a balance of £87,949 (2023: £Nil) was owed from a company with common directors. This is within other debtors at the year end.

At the year end, a balance of £262,432 (2023: £257,349) was owed to the directors children. This included interest accrued in the year of £11,083 (2023: £10,916).