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REGISTERED NUMBER: 05159152 (England and Wales)














OLNEY CARE HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






OLNEY CARE HOMES LIMITED (REGISTERED NUMBER: 05159152)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OLNEY CARE HOMES LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: Dr A K Sahdev





SECRETARY: Dr A K Sahdev





REGISTERED OFFICE: 5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 05159152 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

OLNEY CARE HOMES LIMITED (REGISTERED NUMBER: 05159152)

STATEMENT OF FINANCIAL POSITION
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 881,420 882,540

CURRENT ASSETS
Debtors 6 9,665 11,144
Cash at bank and in hand 43,188 53,113
52,853 64,257
CREDITORS
Amounts falling due within one year 7 272,916 284,346
NET CURRENT LIABILITIES (220,063 ) (220,089 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

661,357

662,451

CREDITORS
Amounts falling due after more than one
year

8

(184,385

)

(217,146

)

PROVISIONS FOR LIABILITIES (771 ) (954 )
NET ASSETS 476,201 444,351

CAPITAL AND RESERVES
Called up, paid and allotted share capital 2 2
Retained earnings 476,199 444,349
SHAREHOLDERS' FUNDS 476,201 444,351

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 director acknowledges his 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.

OLNEY CARE HOMES LIMITED (REGISTERED NUMBER: 05159152)

STATEMENT OF FINANCIAL POSITION - 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 director and authorised for issue on 30 August 2024 and were signed by:





Dr A K Sahdev - Director


OLNEY CARE HOMES LIMITED (REGISTERED NUMBER: 05159152)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Olney Care Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Income recognition
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

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 - not provided (see below)
Fixtures and fittings - 25% on reducing balance

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 23 ) .

OLNEY CARE HOMES LIMITED (REGISTERED NUMBER: 05159152)

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 876,587 135,413 1,012,000
Additions - 499 499
At 30 November 2023 876,587 135,912 1,012,499
DEPRECIATION
At 1 December 2022 - 129,460 129,460
Charge for year - 1,619 1,619
At 30 November 2023 - 131,079 131,079
NET BOOK VALUE
At 30 November 2023 876,587 4,833 881,420
At 30 November 2022 876,587 5,953 882,540

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,105 9,488
Other debtors 2,560 1,656
9,665 11,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,761 31,382
Trade creditors 5,597 2,489
Taxation and social security 15,987 21,471
Other creditors 218,571 229,004
272,916 284,346

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 184,385 217,146

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 37,644 76,698

OLNEY CARE HOMES LIMITED (REGISTERED NUMBER: 05159152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 1,812 2,775
Between one and five years - 1,796
1,812 4,571

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 217,146 248,528

11. RELATED PARTY DISCLOSURES

The director operates a loan account with the company. There was no movement during the year so the amount owed to the director at the year end was £634.