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REGISTERED NUMBER: 11236835 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NEW LODGE NURSING CARE LIMITED

NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 141,450 146,689
Tangible assets 5 1,084,437 1,062,581
1,225,887 1,209,270

CURRENT ASSETS
Debtors 6 99,293 104,856
Cash at bank and in hand 679,758 184,067
779,051 288,923
CREDITORS
Amounts falling due within one year 7 (1,300,222 ) (810,393 )
NET CURRENT LIABILITIES (521,171 ) (521,470 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

704,716

687,800

CREDITORS
Amounts falling due after more than one
year

8

(7,398

)

-

PROVISIONS FOR LIABILITIES (22,073 ) (12,623 )
NET ASSETS 675,245 675,177

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 675,145 675,077
675,245 675,177

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.

NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





I S Sanghera - Director


NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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


1. STATUTORY INFORMATION

New Lodge Nursing Care 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: 11236835

Registered office: 114 Western Road Mickleover
Derby
United Kingdom
Derbyshire
DE3 9GR

The principal activity of the company is that of the provision of residential and care services for the elderly.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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


2. ACCOUNTING POLICIES - continued

Revenue recognition
The company provides residential and care services to the elderly. The turnover shown in the profit and loss account represents the fees due for the services provided during the year.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: .

Goodwill - 30 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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 - Not depreciated
Fixtures and fittings - 15% reducing balance
Motor vehicle - 25% reducing balance
Equipment - 25% reducing balance

Depreciation on land and buildings is not provided, as any uncharged depreciation for the year and accumulated uncharged depreciation would be immaterial in aggregate, as a result of the estimated high residual value of he properties.

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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


2. ACCOUNTING POLICIES - continued

Government grants
Due to the Covid-19 pandemic, the company has claimed government backed grants. Grants are recognised as other income when received.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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


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.

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.

Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Employee benefits
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2023 - 54 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 205,000
AMORTISATION
At 1 April 2023 58,311
Charge for year 5,239
At 31 March 2024 63,550
NET BOOK VALUE
At 31 March 2024 141,450
At 31 March 2023 146,689

NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicle Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 996,143 37,935 - 143,129 1,177,207
Additions - - 22,245 21,594 43,839
At 31 March 2024 996,143 37,935 22,245 164,723 1,221,046
DEPRECIATION
At 1 April 2023 - 20,429 - 94,197 114,626
Charge for year - 2,628 4,630 14,725 21,983
At 31 March 2024 - 23,057 4,630 108,922 136,609
NET BOOK VALUE
At 31 March 2024 996,143 14,878 17,615 55,801 1,084,437
At 31 March 2023 996,143 17,506 - 48,932 1,062,581

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 79,328 41,288
Amounts owed by connected
companies - 48,800
Prepayments 19,965 14,768
99,293 104,856

Amounts due from connected companies are unsecured, interest free and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 5,918 -
Trade creditors 34,486 26,340
Amounts owed to group undertakings 1,065,945 594,804
Tax 53,199 59,681
Social security and other taxes 33,481 31,033
Other creditors 81,909 79,709
Amounts due to connected
companies 1,200 -
Accruals and deferred income 24,084 18,826
1,300,222 810,393

Amounts owed to group and connected companies are unsecured, interest free and are repayable on demand.

NEW LODGE NURSING CARE LIMITED (REGISTERED NUMBER: 11236835)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 7,398 -

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no other significant events up to the date of approval of the financial statements by the Board.