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Registered number: 03531876









ALPHA HEALTH CARE LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ALPHA HEALTH CARE LIMITED
 
 
COMPANY INFORMATION


Directors
S Kapur 
B Choudhrie 
D Choudhrie 
C P Thomas 
S Choudhrie 
M I Tomalin 




Registered number
03531876



Registered office
23 Buckingham Gate

London

England

SW1E 6LB




Independent auditors
Barnes Roffe LLP
Chartered Accountants & Statutory Auditors

3 Brook Business Centre

Cowley Mill Road

Uxbridge

Middlesex

UB8 2FX





 
ALPHA HEALTH CARE LIMITED
 

CONTENTS



Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditors' report
6 - 10
Statement of comprehensive income
11
Statement of financial position
12
Statement of changes in equity
13 - 14
Notes to the financial statements
15 - 28


 
ALPHA HEALTH CARE LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

Introduction
 
The directors present the strategic report for the year ended 31 March 2024.

Business review and key financial performance indicators
 
The results for the year are set out in the Statement of comprehensive income and the Statement of financial position.
During the year, the Company generated total revenue of £13.4 million
 (2023 - £11.2 million) with the profit before tax of £1,895,911 (2023 - £623,483).

Future developments

The directors anticipate the business environment will remain competitive. They believe that the Company is in a good financial position and are confident in the Company's ability to maintain their position and fulfill growth expectations. The directors are constantly looking for new business opportunities and will invest as and when a suitable opportunity is found.

Financial risk management policies
 
The Company has historically used various financial instruments that include loans, cash and working capital items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is for the day-to-day operations. Day-to-day operations are financed through a combination of cash resources and working capital.
The existence of these financial instruments exposes the Company to a number of financial risks, which are described in more detail below.
The main risks arising from the Company's financial instruments are interest rate risk, credit risk and liquidity risk. 
The directors review and agree policies for managing each of these risks and they are summarised below. The policies have remained unchanged from previous years.
Interest rate risk
The Company finances its operations through a mixture of retained profits and, where appropriate, bank financing. The Company manages its interest rate exposure through analyzing best method of financing on a case-by-case basis and whether the interest rates should be fixed or floating.
Liquidity risk
The Company manages financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest surplus cash safely and profitably.
Credit risk
In order to manage credit risk, the directors set working capital targets including debtor days. Outstanding balances are reviewed by the credit controller on a regular basis, in conjunction with debt ageing, and the Company operates a robust collection procedure.

Page 1

 
ALPHA HEALTH CARE LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024


This report was approved by the board on 20 November 2024 and signed on its behalf.



M I Tomalin
Director

Page 2

 
ALPHA HEALTH CARE LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Principal activity

The principal activity of the Company continued to be that of operating nursing and residential care homes in the West Midlands.

Directors

The directors who served during the year were:

S Kapur 
B Choudhrie 
D Choudhrie 
C P Thomas 
S Choudhrie 
M I Tomalin 

Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Company continues and that the appropriate training Is arranged. It is the policy of the Company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Employee Involvement
The Company's policy is to consult and dscuss with employees, through regular meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the Company's performance.

Matters covered in the Strategic report

The Company's policies regarding principal risks, business review and future developments are included in the Strategic report. 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Page 3

 
ALPHA HEALTH CARE LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 20 November 2024 and signed on its behalf.
 





M I Tomalin
Director

Page 4

 
ALPHA HEALTH CARE LIMITED
 
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

 
ALPHA HEALTH CARE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALPHA HEALTH CARE LIMITED
 

Opinion


We have audited the financial statements of Alpha Health Care Limited (the 'Company') for the year ended 31 March 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
ALPHA HEALTH CARE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALPHA HEALTH CARE LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 7

 
ALPHA HEALTH CARE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALPHA HEALTH CARE LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the Company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, are as follows:
°Companies Act 2006.
°FRS102.
°Health and Safety legislation.
°Employment legislation.
°Tax legislation.
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting legal correspondence; and
Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit. 
Page 8

 
ALPHA HEALTH CARE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALPHA HEALTH CARE LIMITED (CONTINUED)



We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
 
Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; 
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
Reviewing the financial statements and testing the disclosures against supporting documentation;
Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
Inspecting and testing journal entries to identify unusual or unexpected transactions;
Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
Investigating the rationale behind significant transactions, or transactions that are unusual or outside the Company's usual course of business.

The areas that we identified as being susceptible to misstatement through fraud were:
 
Management bias in the estimates and judgements made;
Management override of controls; and
Posting of unusual journals or transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
 


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.



Page 9

 
ALPHA HEALTH CARE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALPHA HEALTH CARE LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Mark Hancock FCA (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Uxbridge
Middlesex
UB8 2FX

20 November 2024
Page 10

 
ALPHA HEALTH CARE LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
 4 
13,365,952
11,171,744

Cost of sales
  
(9,748,375)
(8,676,510)

Gross profit
  
3,617,577
2,495,234

Administrative expenses
  
(2,151,297)
(1,927,732)

Other operating income
 5 
369,137
52,870

Operating profit
 6 
1,835,417
620,372

Interest receivable and similar income
 10 
60,494
3,111

Profit before tax
  
1,895,911
623,483

Tax on profit
 11 
(29,541)
-

Profit for the financial year
  
1,866,370
623,483

Total comprehensive income for the year
  
1,866,370
623,483

The notes on pages 15 to 28 form part of these financial statements.

Page 11

 
ALPHA HEALTH CARE LIMITED
REGISTERED NUMBER: 03531876

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
5,716,852
5,614,650

Current assets
  

Stocks
 13 
17,330
19,024

Debtors: amounts falling due within one year
 14 
3,701,847
2,091,550

Cash at bank and in hand
 15 
2,219,856
1,681,334

  
5,939,033
3,791,908

Creditors: amounts falling due within one year
 16 
(1,968,216)
(1,614,800)

Net current assets
  
 
 
3,970,817
 
 
2,177,108

Total assets less current liabilities
  
9,687,669
7,791,758

Provisions for liabilities
  

Deferred tax
 17 
(38,406)
(8,865)

Net assets
  
9,649,263
7,782,893


Capital and reserves
  

Called up share capital 
 18 
6,154,777
6,154,777

Share premium account
 19 
3,513,523
3,513,523

Revaluation reserve
 19 
90,010
90,010

Profit and loss account
 19 
(109,047)
(1,975,417)

  
9,649,263
7,782,893


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 November 2024.




M I Tomalin
Director

The notes on pages 15 to 28 form part of these financial statements.

Page 12

 
ALPHA HEALTH CARE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 April 2023
6,154,777
3,513,523
90,010
(1,975,417)
7,782,893


Comprehensive income for the year

Profit for the year
-
-
-
1,866,370
1,866,370
Total comprehensive income for the year
-
-
-
1,866,370
1,866,370


Total transactions with owners
-
-
-
-
-


At 31 March 2024
6,154,777
3,513,523
90,010
(109,047)
9,649,263


The notes on pages 15 to 28 form part of these financial statements.

Page 13

 
ALPHA HEALTH CARE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Share premium account
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 April 2022
6,154,777
3,513,523
90,010
(2,598,900)
7,159,410


Comprehensive income for the year

Profit for the year
-
-
-
623,483
623,483
Total comprehensive income for the year
-
-
-
623,483
623,483


Total transactions with owners
-
-
-
-
-


At 31 March 2023
6,154,777
3,513,523
90,010
(1,975,417)
7,782,893


The notes on pages 15 to 28 form part of these financial statements.

Page 14

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Alpha Health Care Limited is a company limited by shares, incorporated in England and Wales. The address of registered office is 23 Buckingham Gate, London, England, SW1E 6LB.
The company specialises in operating nursing and residential care homes in the West Midlands.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable In the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.
The financial statements are prepared in Pound Sterling, which is the functional currency of the Company. Monetary amounts In these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. The principal accounting policies adopted are set out below.
The Company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The Company has therefore taken advantage of exemptions from the following disclosure requirements:
• Section 7 'Statement of cash Flows': Presentation of a statement of cash flow and related notes & and disclosures;
• Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument lssues': Interest income/expense and net gains and losses for each category of financial instrument; basis of determining fair values: details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised In profit or loss and in other comprehensive Income;
• Section 33 'Related Party Disclosures': Compensation for key management personnel.
The immediate parent undertaking of the Company is C&C Alpha Healthcare Group Limited, with its registered office at 23 Buckingham Gate, London, SW1E 6LB.
The smallest and largest group into which these financial statements are consolidated is C&C Alpha Group Limited. The consolidated financial statements are available from its registered office, 23 Buckingham Gate, London, SW1E 6LB.

  
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The Company is required to make an assessment on its ability to continue as a going concern when preparing its flnancial statements. In making this assessment, management has considered the situation for the next financial year which take into account of reasonable changes in trading performance as far as possible in uncertain economic conditions.

Page 15

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
The Company recognises the majority of its revenue from resident care fees that typically relate to short-term services that have fixed rather than variable, transaction prices and there is generally no significant judgement required when considering the time pattern of revenue recognition. Every resident has an individual contract that specifies the services being provided, being the performance and obligation, and the transaction price. The performance obligation is the provision of care which is satisfied over the period of contract; as such, the turnover is recognised as the service is provided to the customer.

  
2.4

Impairment of fixed assets

At each reporting period end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine to the extent of the impairment loss (if any). Where it is not possible to esimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant assets is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reversed, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Page 16

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 17

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2-10% straight-line
Fixtures and fittings
-
20% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehenisve income.

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the Statement of comprehensive income.
An increase in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in the Statement of comprehensive income to the extent that it reverses a revaluation decrease of the same asset previously recognised in the Statement of comprehensive income. 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 increases accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised through the Statement of comprehensive income.

Page 18

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that, have been incurred In bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the Statement of comprehensive income. Reversals of impairment losses are also recognised In the Statement of comprehensive income.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to
Page 19

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 20

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual rights to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimate and assumption about the carrying amount of assets and liabilities that are not readily apparent from other source. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period In which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical Judgements
The following judgements (apart from those Involving estimates) have had the most significant effect on amounts recognised In the financial statements.
Recovery and Impairment of debtors
The Company makes an estimate of the recoverable value of trade and other amounts owed. When assessing impairment of such balances, management consider factors including the current trading rating of debtors, payment history and current economic climate. As a result any balances deemed not recoverable have been adjusted as disclosed in the detailed profit and loss account.
Asset Impairment
The Company has considered the need for recognising any potential impairment In regards to freehold property. When assessing impairment of such balances, management consider factors Including the current economic climate. The Company has considered the relevant factors and have decided that no impairment needs to be recognised in the current year. 
Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassesed annually. They are amended when necessary to reflect current estimates, based on technological advances, future investments, economic utilisation and the physical condition of assets.

Page 21

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Care home operations
13,365,952
11,171,744

13,365,952
11,171,744



5.


Other operating income

2024
2023
£
£

Grants receivable
-
52,870

Sundry income
369,137
-

369,137
52,870


During the year, as part of the governmental support package in relation to the COVID-19 pandemic the Company received grant monies totalling £Nil (2023 - £52,870).


6.


Operating profit

The operating profit is stated after charging/(crediting):

2024
2023
£
£

Government grants
-
(52,870)

Depreciation of  owned tangible fixed assets
262,654
228,575

Operating lease charges
25,517
20,600


7.


Auditors' remuneration

Fees payable to the Company's auditor:



2024
2023
£
£

For audit services

Audit of the financial statements of the Company
13,200
12,500
Page 22

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
7,336,913
5,896,390

Social security costs
599,313
456,461

Cost of defined contribution scheme
169,507
137,552

8,105,733
6,490,403


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
17
12



Nursing staff and care workers
325
311

342
323


9.


Directors' remuneration

During the year, no directors received any emoluments (2023 - £Nil).





10.


Interest receivable

2024
2023
£
£


Other interest receivable
60,494
3,111

60,494
3,111

Page 23

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Taxation


2024
2023
£
£



Total current tax
-
-

Deferred tax


Origination and reversal of timing differences
29,541
-

Total deferred tax
29,541
-


Tax on profit
29,541
-

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,895,911
623,483


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
473,978
118,462

Effects of:


Tax effect of expenses that are not deductible In determining taxable profit
58
117

Group relief
(429,568)
(49,113)

Accelerated capital allowances for the year
(43,351)
(65,952)

Utilisation of tax losses
-
(629)

Timing difference
(1,117)
(2,885)

Deferred taxation
29,541
-

Total tax charge for the year
29,541
-

Page 24

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
11.Taxation (continued)


Factors that may affect future tax charges

There are no significant factors that may affect future tax charges.


12.


Tangible fixed assets





Freehold land and buildings
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
7,295,255
2,306,925
9,602,180


Additions
9,800
355,056
364,856



At 31 March 2024

7,305,055
2,661,981
9,967,036



Depreciation


At 1 April 2023
2,155,168
1,832,362
3,987,530


Charge for the year on owned assets
71,029
191,625
262,654



At 31 March 2024

2,226,197
2,023,987
4,250,184



Net book value



At 31 March 2024
5,078,858
637,994
5,716,852



At 31 March 2023
5,140,087
474,563
5,614,650


13.


Stocks

2024
2023
£
£

Consumables
17,330
19,024

17,330
19,024


Page 25

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Debtors

2024
2023
£
£


Trade debtors
741,743
97,858

Amounts owed by group undertakings
2,588,945
1,665,637

Other debtors
39,028
194,027

Prepayments and accrued income
332,131
134,028

3,701,847
2,091,550



15.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,219,856
1,681,334

2,219,856
1,681,334



16.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
915,125
587,948

Other taxation and social security
151,725
136,360

Other creditors
749,643
646,125

Accruals and deferred income
151,723
244,367

1,968,216
1,614,800


Other creditors comprises mainly a balance of £529,345 (2023 - £342,597) due in respect of staff salaries which, due to the timing of the monthly payroll, have been settled after the year end. The balance comprises various miscellaneous amounts arising from trading activities.

Page 26

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

17.


Deferred taxation




2024


£






At beginning of year
(8,865)


Charged to the Statement of comprehensive income
(29,541)



At end of year
(38,406)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
38,406
8,865

38,406
8,865


18.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,140,000 Ordinary A shares of £1 each
3,140,000
3,140,000
3,014,777 Ordinary B shares of £1 each
3,014,777
3,014,777

6,154,777

6,154,777



19.


Reserves

Share premium account

The share premium account includes premiums paid on allotment of shares and is not a distributable reserve.

Revaluation reserve

The revaluation reserve includes previous surpluses and deficits arising on the revaluation of certain fixed assets.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

Page 27

 
ALPHA HEALTH CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

20.


Pension commitments

The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £169,507 (2023 - £137,552).


21.


Commitments under operating leases

At the reporting end date the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£

Other


Not later than 1 year
5,348
20,311

Later than 1 year and not later than 5 years
1,584
6,932

6,932
27,243


22.


Related party transactions

The company has taken advantage of the exemption from reporting related party transactions with wholly owned members of the group, as allowed by FRS 102 section 33.


23.


Post balance sheet events

There have been no significant events affecting the Company since the year end.


24.


Ultimate controlling party

The Company's ultimate parent undertaking and controlling party at the Statement of financial position date is Harberry Investments Holdings Limited, a company incorporated In the British Virgin Islands.

 
Page 28