LANTERN CARE HOMES LTD | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
31 DECEMBER 2023 | |||||||||||
Company Registration Number: 12100540 | |||||||||||
LANTERN CARE HOMES LTD | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 8 | ||||||||||
LANTERN CARE HOMES LTD | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
DIRECTORS | |||||||||||
resigned |
|||||||||||
appointed |
|||||||||||
SECRETARY | |||||||||||
The company does not have an appointed secretary | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
12100540 England and Wales | |||||||||||
LANTERN CARE HOMES LTD | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2023 | |||||||||||
Notes | 2023 | 2022 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Tangible assets | 5 | - | |||||||||
Investments | 6 | ||||||||||
CURRENT ASSETS | |||||||||||
Debtors | 7 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 8 | ||||||||||
NET CURRENT ASSETS | |||||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
Provisions for liabilities and charges | - | ||||||||||
NET ASSETS | |||||||||||
CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | |||||||||||
SHAREHOLDERS' FUNDS | |||||||||||
LANTERN CARE HOMES LTD | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2023 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board of directors | |||||||||||
M Oakes | |||||||||||
Director | |||||||||||
Date approved by the board: |
|||||||||||
LANTERN CARE HOMES LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Lantern Care Homes Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are: | |||||||||||
Registered office | Principal place of business | ||||||||||
C9, Glyme Court, Oxford Office Village | The Elms | ||||||||||
Langford Lane | Dale Road | ||||||||||
Kidlington | South Darley Dale | ||||||||||
Oxfordshire | Matlock | ||||||||||
OX5 1LQ | DE4 2EU | ||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Office equipment | |||||||||||
Leasehold improvements | |||||||||||
Motor vehicles | |||||||||||
Furniture and fittings | |||||||||||
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
Investment properties | |||||||||||
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. | |||||||||||
Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise. | |||||||||||
LANTERN CARE HOMES LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
LANTERN CARE HOMES LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Leases | |||||||||||
Taxation | |||||||||||
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 taxable profits. | |||||||||||
Deferred tax is measured using 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. | |||||||||||
Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset. |
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2023 | 2022 | ||||||||||
Average number of employees | |||||||||||
LANTERN CARE HOMES LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
5 | TANGIBLE ASSETS | ||||||||||
Office equipment | Leasehold improvements | Motor vehicles | Furniture and fittings | Total | |||||||
£ | £ | £ | £ | £ | |||||||
Cost | |||||||||||
Additions | |||||||||||
At 31 December 2023 | |||||||||||
Accumulated depreciation and impairments | |||||||||||
Charge for year | |||||||||||
At 31 December 2023 | |||||||||||
Net book value | |||||||||||
At 31 December 2023 | |||||||||||
At 1 January 2023 | - | - | - | - | - | ||||||
6 | FIXED ASSET INVESTMENTS | ||||||||||
Investment Property | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 January 2023 | 46,506 | ||||||||||
At 31 December 2023 | 46,506 | ||||||||||
Net book value | |||||||||||
At 1 January 2023 | |||||||||||
At 31 December 2023 | |||||||||||
In the opinion of the director, all investment property has been stated at fair value. | |||||||||||
7 | DEBTORS | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Prepayments and accrued income | |||||||||||
Other debtors | |||||||||||
38,966 | 8,220 | ||||||||||
LANTERN CARE HOMES LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
8 | CREDITORS: Amounts falling due within one year | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Taxation and social security | |||||||||||
Accruals and deferred income | |||||||||||
Other creditors | |||||||||||
24,370 | 37,866 | ||||||||||
9 | CONTINGENCIES AND COMMITMENTS | ||||||||||
Other Commitments | |||||||||||
Amounts falling due under operating leases: | 2023 | 2022 | |||||||||
£ | £ | ||||||||||
In less than one year | |||||||||||
In more than one but less than five years | |||||||||||
In more than five years | - | ||||||||||
297,490 | 347,770 | ||||||||||
10 | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES | ||||||||||
The following director's advances, credits and guarantees took place during the year | |||||||||||
Balance at 1 January 2023 | Amounts advanced | Amounts repaid | Amounts written off or waived | Balance at 31 December 2023 | |||||||
£ | £ | £ | £ | £ | |||||||
M Oakes | - | ||||||||||
This advance is interest free and repayable on demand. | |||||||||||
11 | RELATED PARTY TRANSACTIONS | ||||||||||
During the year, the following transactions with related parties took place: | |||||||||||
Directors and shareholders | 2023 | 2022 | |||||||||
£ | £ | ||||||||||
Advances | |||||||||||
Connected company | 2023 | 2022 | |||||||||
£ | £ | ||||||||||