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REGISTERED NUMBER: 12570818 (England and Wales)















Priory Park Care Ltd

Unaudited Financial Statements for the Year Ended 31 December 2023






Priory Park Care Ltd (Registered number: 12570818)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Priory Park Care Ltd

Company Information
for the Year Ended 31 December 2023







Director: Timothy K Ogunleye





Registered office: 23 Marsham Way
Gerrards Cross
South Bucks
SL9 8AB





Registered number: 12570818 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Priory Park Care Ltd (Registered number: 12570818)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,101,165 1,118,188

Current assets
Stocks 1,000 1,000
Debtors 5 263,568 184,256
Cash at bank and in hand 1,186,475 391,496
1,451,043 576,752
Creditors
Amounts falling due within one year 6 411,524 191,295
Net current assets 1,039,519 385,457
Total assets less current liabilities 2,140,684 1,503,645

Creditors
Amounts falling due after more than
one year

7

(1,096,925

)

(1,159,482

)

Provisions for liabilities 8 (11,133 ) (14,009 )
Net assets 1,032,626 330,154

Capital and reserves
Called up share capital 9 1 1
Retained earnings 1,032,625 330,153
Shareholders' funds 1,032,626 330,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Priory Park Care Ltd (Registered number: 12570818)

Statement of Financial Position - continued
31 December 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 31 July 2024 and were signed by:





Timothy K Ogunleye - Director


Priory Park Care Ltd (Registered number: 12570818)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Priory Park Care Ltd 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.

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.

Turnover
Turnover is measured at the fair value of residential retirement nursing home fees receivable by the company during the year.

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 - over 50 years
Fixtures and fittings - 20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Priory Park Care Ltd (Registered number: 12570818)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. Employees and directors

The average number of employees during the year was 67 (2022 - 54 ) .

4. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£    £    £   
Cost
At 1 January 2023
and 31 December 2023 1,075,732 98,141 1,173,873
Depreciation
At 1 January 2023 13,583 42,102 55,685
Charge for year 5,514 11,509 17,023
At 31 December 2023 19,097 53,611 72,708
Net book value
At 31 December 2023 1,056,635 44,530 1,101,165
At 31 December 2022 1,062,149 56,039 1,118,188

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 254,420 175,691
Other debtors 9,148 8,565
263,568 184,256

Priory Park Care Ltd (Registered number: 12570818)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 39,932 41,054
Taxation and social security 278,713 89,903
Other creditors 92,879 60,338
411,524 191,295

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 1,096,925 1,159,482

8. Provisions for liabilities
2023 2022
£    £   
Deferred tax 11,133 14,009

Deferred
tax
£   
Balance at 1 January 2023 14,009
Credit to Statement of Income and Retained Earnings during year (2,876 )
Balance at 31 December 2023 11,133

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary shares 1 1 1