Willow Cottage Care Home Limited
Registered number: 08697671
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 2 289,880 289,880
Tangible assets 3 88,981 88,981
Investments 4 73,816 73,816
452,677 452,677
Current assets
Debtors 5 - 160,842
Creditors: amounts falling due within one year 6 (911,377) (935,497)
Net current liabilities (911,377) (774,655)
Net liabilities (458,700) (321,978)
Capital and reserves
Called up share capital 100 100
Profit and loss account (458,800) (322,078)
Shareholders' funds (458,700) (321,978)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Satbir Singh Ahluwalia
Director
Approved by the board on 1 September 2024
Willow Cottage Care Home Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvement costs 2% reducing balance basis
Equipment, fixtures and fittings 20% reducing balance basis
Due to No development or movement in the Company business or property no depreciation has
provided for the year.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Average number of persons employed by the company 0 0
2 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 773,011
At 31 March 2024 773,011
Amortisation
At 1 April 2023 483,131
At 31 March 2024 483,131
Net book value
At 31 March 2024 289,880
At 31 March 2023 289,880
Goodwill arises on acquisition and is being written off in equal annual instalments over its estimated economic life of 10 years.
3 Tangible fixed assets
Improvement costs Equipment, fixtures and fittings Total
£ £ £
Cost
At 1 April 2023 47,587 106,856 154,443
At 31 March 2024 47,587 106,856 154,443
Depreciation
At 1 April 2023 2,798 62,664 65,462
At 31 March 2024 2,798 62,664 65,462
Net book value
At 31 March 2024 44,789 44,192 88,981
At 31 March 2023 44,789 44,192 88,981
4 Investment in property development
Other
investments
£
Cost
At 1 April 2023 73,816
At 31 March 2024 73,816
5 Debtors 2024 2023
£ £
Related party balances - 160,842
6 Creditors: amounts falling due within one year 2024 2023
£ £
Director's current account 698,902 698,902
Related party balance - Chippenham Limited - 22,500
Related party balances:Abhaya Care Limited 212,475 212,475
Other creditors - 1,620
911,377 935,497
7 Related party transactions 2024 2023
£ £
Lifetime Care Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Lifetime Care Limited.
An interest free and unsecured loan to Lifetime Care Limited yet to be reimbursed to the company.
Amount due from the related party - 20,923
Life Care Corporation Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Life Care Corporation Limited.
An interest free and unsecured loan to and from Life Care Corporation Limited yet to be reimbursed to the company.
Amount due from the related party - 105,868
Mulberry Care Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Mulberry Care Limited.
An interest free and unsecured loan from Mulberry Care Limited yet to be reimbursed by the company.
Amount due from the related party - 26,898
Vogue Assets Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Vogue Assets Limited.
An interest free and unsecured loan to Vogue Assets Limited yet to be reimbursed to the company.
Amount due from the related party - 7,333
Chippenham Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Chippenham Limited.
An interest free and unsecured loan from Chippenham Limited yet to be reimbursed by the company.
Amount due to the related party - 20,000
Sat Bir Asset Holdings Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Sat Bir Asset Holdings Limited.
An interest free and unsecured loan from Sat Bir Asset Holdings Limited yet to be reimbursed by the company.
Amount due to the related party - 2,500
Abhaya Care Limited
The company is related by virtue of an interest in the company.
An interest free and unsecured loan by Abhaya Care Limited yet to be reimbursed by the company.
Amount due to the related party. 212,475 212,475
8 Controlling party
The director controls the company.
9 Other information
Willow Cottage Care Home Limited is a private company limited by shares and incorporated in England. Its registered office is:
Keyers Bridge House
Wokingham Road
Hurst
Reading
Berkshire RG10 0RU
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