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Registered number: 02200489









Uniquehelp Limited









Annual report and financial statements

For the Year Ended 30 April 2024

 
Uniquehelp Limited
 
 
Company Information


Directors
Kanagaratnam Rajakanthan 
Dr. Charles Nicholas Rajakanthan 
Alexandra Thurlby 




Registered number
02200489



Registered office
30 Station Road,
Orpington

Kent

BR6 0SA




Independent auditors
Mantax Lynton
Chartered Accountants & Statutory Auditors

2nd Floor Equitable House

7 General Gordon Sqaure

London

SE18 6FH




Bankers
Coutts & Co
440 Strand, London





Santander Bank PLC

Boote, Merseyside

K30 4GB





 
Uniquehelp Limited
 

Contents



Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditors' report
5 - 8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Notes to the financial statements
12 - 25


 
Uniquehelp Limited
 
 
Strategic report
For the Year Ended 30 April 2024

Introduction
 
The director presents the strategic report for the year ended 30 April 2024.

Business review
 
The principal activity of the company during the year continued to be operating, managing and administering nursing homes for the elderly. 
Despite the difficult trading conditions, including shortage of skilled staff in healthcare sector, turnover of the Company has increased from £5.4 million in 2023 to £5.7 million in the current year. However, due to rising costs the operating profit has decreased from £1.7 million in 2023 to  £1.6 million in the current year. Directors are satisfied with the company's performance and confident that turnover and operation profits will show a increasing trend in the foreseeable future.
The Company is continuing to focus on consolidating its operations and enhancing its attention on monitoring the quality of care delivered. Internal policies, procedures and systems were enhanced and strengthened in line with the demands of the marketplace. With these policies in place, directors are confident that Company will be able to make steady profits in the foreseeable future.
 
Principal risks include non-compliance with regulation, fee income not rising in line with the cost of providing care,  lack of nursing resources and general increase in costs.
The Company is investing in training in order to improve the employees' skill and enhance the customer services.
The key to our success is our highly motivated, trained and dedicated staff team.
We continue working as a team, supporting and training each other to ensure that our resident's needs are met within a safe environment.
To keep in step with the world around us, we believe it is important to provide access to new technology. All our houses are equipped with wireless broadband and computer for use by staffs and residents.

Page 1

 
Uniquehelp Limited
 

Strategic report (continued)
For the Year Ended 30 April 2024

Principal risks and uncertainties
 
The Company's activities expose it to a number of financial risks.
Interest rate risk
The Company has no bank loans and is therefore not exposed to interest rate fluctuation on borrowings.
Credit risk
The Company's principal financial assets are bank balance, trade and other receivables. The Company's credit risk is primarily attributable to its trade receivables. The amounts presented in the financial statements are net of allowances for doubtful receivables.
It is the policy of the Company to ensure that where a resident is privately funded, the immediate next of kin are required to sign the resident's contract. Where a resident's property is being sold to pay for their care fees the Company may require them to accept a charge on the property to secure any debt for care fees. The credit risk in liquid funds are limited because the counterparties are banks which are supported and underwritten by the UK government. The Company has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations, the Company manages its cash flow from operations.
Insurance risk
The Company is exposed to potential claims from employees and from residents and their next of kin. In order to protect the Company from these risks, the Board has put in place a comprehensive cover with reputable insurers.
Employees
The Company is an equal opportunities employer and gives full and fair consideration to applications for employment made by disabled persons, having regard to their particular aptitudes and abilities. Where people become disabled during the course of their employment, every effort is made to retain their services and to provide retraining, if necessary. All employees are eligible for consideration for appropriate training, career development and promotional opportunities: disabled employees are not treated differently in this respect. The Company has established the practice of keeping employees informed of maters affecting them as employees and of the financial and economic factors affecting the performance of the Company.
 


This report was approved by the board on 30 January 2025 and signed on its behalf.



Kanagaratnam Rajakanthan
Director

Page 2

 
Uniquehelp Limited
 
 
 
Directors' report
For the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors' responsibilities statement

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;

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.

Results and dividends

The profit for the year, after taxation, amounted to £1,309,859 (2023 - £1,378,492).

The total distribution of dividends for the year ended 30 April 2024 were  £1,598,902 (2023: £846,155). 

Directors

The directors who served during the year were:

Kanagaratnam Rajakanthan 
Dr. Charles Nicholas Rajakanthan 
Alexandra Thurlby 

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.

Page 3

 
Uniquehelp Limited
 
 
 
Directors' report (continued)
For the Year Ended 30 April 2024

Post balance sheet events

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

Auditors

The auditorsMantax Lyntonwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 30 January 2025 and signed on its behalf.
 





Kanagaratnam Rajakanthan
Director

Page 4

 
Uniquehelp Limited
 
 
 
Independent auditors' report to the members of Uniquehelp Limited
 

Opinion


We have audited the financial statements of Uniquehelp Limited (the 'Company') for the year ended 30 April 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 30 April 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 5

 
Uniquehelp Limited
 
 
 
Independent auditors' report to the members of Uniquehelp 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.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, 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.


Page 6

 
Uniquehelp Limited
 
 
 
Independent auditors' report to the members of Uniquehelp Limited (continued)


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:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were CQC regulations, the Companies Act 2006, FRS 102 and relevant taxation legislation.
 
We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases corroborating revenue recognised by the company through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law.
 
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
 
These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations..


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 7

 
Uniquehelp Limited
 
 
 
Independent auditors' report to the members of Uniquehelp 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.





Janak Raj Pokhrel (Senior statutory auditor)
  
for and on behalf of
Mantax Lynton
 
Chartered Accountants & Statutory Auditors
  
2nd Floor Equitable House
7 General Gordon Sqaure
London
SE18 6FH

30 January 2025
Page 8

 
Uniquehelp Limited
 
 
Statement of comprehensive income
For the Year Ended 30 April 2024

2024
2023
Note
£
£

  

Turnover
 4 
5,717,734
5,399,375

Cost of sales
  
(3,110,439)
(2,912,287)

Gross profit
  
2,607,295
2,487,088

Administrative expenses
  
(987,614)
(811,820)

Other operating income
 5 
-
62,851

Operating profit
  
1,619,681
1,738,119

Interest receivable
 8 
8,304
10,887

Interest payable and similar expenses
 9 
(1,334)
-

Profit before tax
  
1,626,651
1,749,006

Tax on profit
 10 
(316,792)
(370,514)

Profit for the financial year
  
1,309,859
1,378,492

Other comprehensive income for the year
  

Revaluation gain on investment property
  
96,560
-

Other comprehensive income for the year
  
96,560
-

Total comprehensive income for the year
  
1,406,419
1,378,492

The notes on pages 12 to 25 form part of these financial statements.

Page 9

 
Uniquehelp Limited
Registered number: 02200489

Statement of financial position
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
4,911,291
13,868,914

Investment property
  
9,350,000
-

  
14,261,291
13,868,914

Current assets
  

Debtors: amounts falling due within one year
 15 
653,603
785,595

Cash at bank and in hand
 16 
116,631
535,752

  
770,234
1,321,347

Creditors: amounts falling due within one year
 17 
(1,230,197)
(1,149,747)

Net current (liabilities)/assets
  
 
 
(459,963)
 
 
171,600

Total assets less current liabilities
  
13,801,328
14,040,514

Provisions for liabilities
  

Deferred tax
 18 
(166,994)
(213,697)

  
 
 
(166,994)
 
 
(213,697)

Net assets
  
13,634,334
13,826,817


Capital and reserves
  

Called up share capital 
 19 
7,000
7,000

Revaluation reserve
 20 
3,965,165
4,079,351

Investment property reserve
 20 
96,560
-

Other reserves
 20 
263,040
263,040

Profit and loss account
 20 
9,302,569
9,477,426

  
13,634,334
13,826,817


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2025.




Kanagaratnam Rajakanthan
Director

The notes on pages 12 to 25 form part of these financial statements.

Page 10

 
Uniquehelp Limited
 

Statement of changes in equity
For the Year Ended 30 April 2024


share capital
Rev reserve
Inv prop rev reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£
£


At 1 May 2022
7,000
4,193,537
-
263,040
8,830,903
13,294,480


Comprehensive income for the year

Profit for the year
-
-
-
-
1,378,492
1,378,492

Transfer from Revaluation reserve
-
-
-
-
114,186
114,186
Total comprehensive income for the year
-
-
-
-
1,492,678
1,492,678


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
-
(846,155)
(846,155)

Transfer to profit and loss reserve
-
(114,186)
-
-
-
(114,186)



At 1 May 2023
7,000
4,079,351
-
263,040
9,477,426
13,826,817




Transfer from revaluation reserve
-
-
-
-
114,186
114,186

Revaluation gain on investment property
-
-
96,560
-
-
96,560


Other comprehensive income for the year
-
-
96,560
-
114,186
210,746


Total comprehensive income for the year
-
-
96,560
-
1,424,045
1,520,605


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
-
(1,598,902)
(1,598,902)

Transfer to P/L reserve
-
(114,186)
-
-
-
(114,186)


Total transactions with owners
-
(114,186)
-
-
(1,598,902)
(1,713,088)


At 30 April 2024
7,000
3,965,165
96,560
263,040
9,302,569
13,634,334


The notes on pages 12 to 25 form part of these financial statements.

Page 11

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

Uniquehelp Limited is a company limited by shares incorporated in England and Wales. The company's registration number and address of the registered office is given in the company information page of these
financial statements.
The principal activities of the company in the year under review was that of residential nursing care facilities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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 profit or loss 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.

Page 12

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.

 
2.7

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 13

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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%
Straight line
Plant and machinery
-
25%
Straight line
Fixtures and fittings
-
25%
Straight line
Computer equipment
-
25%
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 profit or loss.

 
2.10

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 profit or loss.

Page 14

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.11

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.
Page 15

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

 
2.17

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

Page 16

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

4.


Turnover

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


2024
2023
£
£

Provision of Residential Care
5,717,734
5,399,375

5,717,734
5,399,375


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
5,717,734
5,399,375

5,717,734
5,399,375



5.


Other operating income

2024
2023
£
£

Government grants receivable
-
62,842

Other income
-
9

-
62,851





6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
6,238
5,940

Page 17

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

7.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
2,550,658
2,266,369

Social security costs
209,936
181,859

Cost of defined contribution scheme
39,989
41,777

2,800,583
2,490,005


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


        2024
        2023
            No.
            No.







Manager and Admin
3
3



Care workers
113
110

116
113


8.


Interest receivable

2024
2023
£
£


Other interest receivable
8,304
10,887

8,304
10,887


9.


Interest payable and similar expenses

2024
2023
£
£


Other interest payable
1,334
-

1,334
-

Page 18

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
446,702
370,514

Adjustments in respect of previous periods
(83,207)
-


363,495
370,514


Total current tax
363,495
370,514

Deferred tax


Origination and reversal of timing differences
(46,703)
-

Total deferred tax
(46,703)
-


Tax on profit
316,792
370,514

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher 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
1,626,651
1,749,006


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
406,663
340,936

Effects of:


Capital allowances for year in excess of depreciation
39,673
28,231

Adjustments to tax charge in respect of prior periods
(83,207)
-

Short term timing difference leading to an increase (decrease) in taxation
(46,703)
-

Other differences leading to an increase (decrease) in the tax charge
366
1,347

Total tax charge for the year
316,792
370,514


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 19

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024
 
10.Taxation (continued)



11.


Dividends

2024
2023
£
£


Interim Dividends
1,598,902
846,155

1,598,902
846,155


12.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
420,000



At 30 April 2024

420,000



Amortisation


At 1 May 2023
420,000



At 30 April 2024

420,000



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 20

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

13.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
16,873,272
468,295
989,470
49,007
18,380,044


Additions
-
1,287
1,025
-
2,312


Transferred to Investment Property
(8,794,801)
-
-
-
(8,794,801)



At 30 April 2024

8,078,471
469,582
990,495
49,007
9,587,555



Depreciation


At 1 May 2023
3,031,454
449,551
984,649
45,476
4,511,130


Charge for the year on owned assets
161,569
917
1,856
792
165,134



At 30 April 2024

3,193,023
450,468
986,505
46,268
4,676,264



Net book value



At 30 April 2024
4,885,448
19,114
3,990
2,739
4,911,291



At 30 April 2023
13,841,818
18,744
4,821
3,531
13,868,914

During the year, construction of Beacon Hill Apartments has been completed which was included in Freehold property cost B/F. The management has decided to let out the property instead of carrying out  existing residential care business and the total cost of the property (Beacon Hill Lodge) has been transferred to investment property. There were no outstanding capital commitments at the year end. 

Page 21

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

14.


Investment property


Freehold investment property

£



Valuation


Additions at cost
458,639


Surplus on revaluation
96,560


Transferred from Tangible Fixed Assets
8,794,801



At 30 April 2024
9,350,000

The 2024 valuations were made by the directors , on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


Net surplus  in movement properties
96,560
-

At 30 April 2024
96,560
-



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
9,253,440
-

9,253,440
-

Page 22

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

15.


Debtors

2024
2023
£
£


Trade debtors
320,087
449,055

Other debtors
184,999
189,000

Prepayments and accrued income
148,517
147,540

653,603
785,595



16.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
116,631
535,752

116,631
535,752



17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
612,818
452,924

Corporation tax
287,398
296,288

Other taxation and social security
33,467
47,031

Other creditors
215,855
310,397

Accruals and deferred income
80,659
43,107

1,230,197
1,149,747


Page 23

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

18.


Deferred taxation




2024


£






At beginning of year
(213,697)


Released to profit or loss account
46,703



At end of year
(166,994)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluations
(166,994)
(213,697)

(166,994)
(213,697)


19.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



7,000 (2023 - 7,000) Ordinary Shares shares of £1.00 each
7,000
7,000


Page 24

 
Uniquehelp Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

20.


Reserves

Revaluation reserve

Revaluation reserve represents the cumulative gain on revaluation of tangible fixed assets. This is non-distributable reserve.

Investment property revaluation reserve

This reserve represents the cumulative gain on revaluation of investment properties and is non-distributable reserve.

Other reserves

The Other reserve of £263,040 represents the Capital reserve occurred due to the redemption of the company's bank loan by the parent company, Nicholas James Care Homes Limited,  a part consideration on the acquisition of its share capital. This is non-distributable reserve.

Profit and loss account

This reserve records retained earnings and accumulated losses and is distributable reserve.


21.


Pension commitments

The company operates a defined contributions pension scheme. 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 by the company to the fund and amounted to £39,989 (2023: £41,777). Contributions totaling £20,091 (2023: £18,629) were payable to the fund at balance sheet date.


22.


Related party transactions

The company has taken advantage of the exemption available under FRS102 for Related Party disclosure, not to disclose any transactions and balances between the group companies that have been eliminated on consolidation.
Nicholas James Care Homes Limited, the ultimate parent company, prepares group accounts. Copies of the group accounts are available from its registered office at 30 Station Road, Orpington BR6 0SA.
During the year the Compay has provided an advance of £170,000 (2023: £nil) to one of its directors which is included in other debtors. This advance has been fully repaid after the year end. 


23.


Controlling party

The company is controlled by the director, Mr K Rajakanthan and his wife Mrs D C Rajakanthan by virtue of their shareholdings in the parent company.

 
Page 25