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REGISTERED NUMBER: 13558956 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PINE LODGE CARE HOME LIMITED

PINE LODGE CARE HOME LIMITED (REGISTERED NUMBER: 13558956)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PINE LODGE CARE HOME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M V Santhiapillai





REGISTERED OFFICE: First Floor Leegate House
Burnt Ash Road
London
SE12 8RG





REGISTERED NUMBER: 13558956 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

PINE LODGE CARE HOME LIMITED (REGISTERED NUMBER: 13558956)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,209,462 2,370,802
Tangible assets 5 8,550,693 2,608,055
10,760,155 4,978,857

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 6 20,962 16,206
Cash at bank and in hand 58,426 48,407
85,388 70,613
CREDITORS
Amounts falling due within one year 7 4,616,800 4,793,292
NET CURRENT LIABILITIES (4,531,412 ) (4,722,679 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,228,743

256,178

PROVISIONS FOR LIABILITIES 137,673 39,511
NET ASSETS 6,091,070 216,667

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 5,680,740 -
Retained earnings 410,329 216,666
6,091,070 216,667

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2024 and were signed by:





M V Santhiapillai - Director


PINE LODGE CARE HOME LIMITED (REGISTERED NUMBER: 13558956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Pine Lodge Care Home 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 2% on cost
Long leasehold - in accordance with the property
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

PINE LODGE CARE HOME LIMITED (REGISTERED NUMBER: 13558956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 61 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,689,000
AMORTISATION
At 1 April 2023 318,198
Charge for year 161,340
At 31 March 2024 479,538
NET BOOK VALUE
At 31 March 2024 2,209,462
At 31 March 2023 2,370,802

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 2,080,000 450,005 323,739 2,853,744
Additions 5,760 - 461,966 467,726
Revaluations 5,680,740 - - 5,680,740
At 31 March 2024 7,766,500 450,005 785,705 9,002,210
DEPRECIATION
At 1 April 2023 62,400 67,505 115,784 245,689
Charge for year 41,600 45,000 119,228 205,828
At 31 March 2024 104,000 112,505 235,012 451,517
NET BOOK VALUE
At 31 March 2024 7,662,500 337,500 550,693 8,550,693
At 31 March 2023 2,017,600 382,500 207,955 2,608,055

PINE LODGE CARE HOME LIMITED (REGISTERED NUMBER: 13558956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
Valuation in 2024 5,680,740 - - 5,680,740
Cost 2,085,760 450,005 785,705 3,321,470
7,766,500 450,005 785,705 9,002,210

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,085,760 -
Aggregate depreciation (104,000 ) -

Freehold land and buildings were valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,695 8,443
Other debtors 12,267 7,763
20,962 16,206

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 83,611 34,354
Amounts owed to group undertakings 4,279,688 4,581,290
Taxation and social security 167,951 129,999
Other creditors 85,550 47,649
4,616,800 4,793,292

8. RESERVES
Revaluation
reserve
£   
Arising in the year 5,680,740

At 31 March 2024 5,680,740

PINE LODGE CARE HOME LIMITED (REGISTERED NUMBER: 13558956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M V Santhiapillai.