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REGISTERED NUMBER: 06971234 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Haigh Healthcare Limited

Haigh Healthcare Limited (Registered number: 06971234)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Haigh Healthcare Limited (Registered number: 06971234)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,189,756 4,204,771

CURRENT ASSETS
Stocks 5 1,597 1,925
Debtors 6 814,906 504,480
Cash at bank and in hand 14,695 169,131
831,198 675,536
CREDITORS
Amounts falling due within one year 7 792,310 819,265
NET CURRENT ASSETS/(LIABILITIES) 38,888 (143,729 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,228,644

4,061,042

CREDITORS
Amounts falling due after more than one
year

8

(1,505,147

)

(1,706,536

)

PROVISIONS FOR LIABILITIES (45,901 ) (44,642 )
NET ASSETS 2,677,596 2,309,864

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,677,496 2,309,764
SHAREHOLDERS' FUNDS 2,677,596 2,309,864

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 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.

Haigh Healthcare Limited (Registered number: 06971234)

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 director and authorised for issue on 16 September 2024 and were signed by:





D Haigh - Director


Haigh Healthcare Limited (Registered number: 06971234)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Haigh Healthcare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06971234

Registered office: Magnolia House
Residential Care Home
Chesterfield Road North
Pleasley
Nottinghamshire
NG19 7RA

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

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

Turnover
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion and the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its expected useful life:

Land and buildings- depreciation is charged on any amounts over and above the residual
value
Plant and machinery- 15% on reducing balance
Fixtures and fittings- 15% on reducing balance
Computer equipment- 33% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Haigh Healthcare Limited (Registered number: 06971234)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation
Current tax, including UK corporation tax is provided at amounts 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Leasing commitments
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Haigh Healthcare Limited (Registered number: 06971234)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, amounts owed by related undertakings, other debtors, cash and bank balances, trade creditors, other creditors, bank loans and other loans..

Trade debtors, amounts owed by related undertakings (being repayable on demand), other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans and other loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2023 - 57 ) .

Haigh Healthcare Limited (Registered number: 06971234)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 4,016,892 441,908 4,458,800
Additions - 15,313 15,313
At 31 March 2024 4,016,892 457,221 4,474,113
DEPRECIATION
At 1 April 2023 - 254,029 254,029
Charge for year - 30,328 30,328
At 31 March 2024 - 284,357 284,357
NET BOOK VALUE
At 31 March 2024 4,016,892 172,864 4,189,756
At 31 March 2023 4,016,892 187,879 4,204,771

5. STOCKS
2024 2023
£    £   
Stocks 1,597 1,925

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 31,508 37,448
Amounts owed by related undertakings 704,332 444,755
Other debtors 79,066 22,277
814,906 504,480

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 131,284 124,795
Trade creditors 84,398 40,807
Taxation and social security 302,553 360,310
Other creditors 274,075 293,353
792,310 819,265

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,457,090 1,591,515
Other creditors 48,057 115,021
1,505,147 1,706,536

Haigh Healthcare Limited (Registered number: 06971234)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 22,147 15,059
Between one and five years 53,538 43,098
In more than five years 13,920 -
89,605 58,157

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,588,374 1,716,310
Other loans 115,021 176,303
1,703,395 1,892,613

Bank and other loans are secured by way of a fixed and floating charge.

11. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
D Haigh
Balance outstanding at start of year - -
Amounts advanced 192,387 183,386
Amounts repaid (174,677 ) (183,386 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,710 -

Haigh Healthcare Limited (Registered number: 06971234)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. RELATED PARTY DISCLOSURES

The director and shareholder of the company is also director and sole shareholder of Haigh Property Services Limited.

During the year ended 31 March 2024, Haigh Property Services Limited loaned £26,887 from the company . The balance due from Haigh Property Services Limited as at the year end was £71,642.
This balance is shown in note 7 of the accounts, is repayable on demand, and is non interest bearing.

The director and shareholder of the company is also the sole director and shareholder of Dale Inn Developments Limited.

During the year ended 31 March 2024, Dale Inn Developments Limited loaned £232,690 from the company. The balance due from Dale Inn Developments Limited as at the year end was £632,690.
This balance is shown in note 7 of the accounts, is repayable on demand, and is non interest bearing.