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Registration number: 05269285

Landona House Limited

Annual Report and Financial Statements

for the Year Ended 30 April 2024

 

Landona House Limited

Contents

Company Information

1

Strategic Report

2 to 4

Directors' Report

5 to 6

Statement of Directors' Responsibilities

7

Independent Auditor's Report

8 to 11

Profit and Loss Account

12

Balance Sheet

13

Statement of Cash Flows

14

Notes to the Financial Statements

15 to 23

 

Landona House Limited

Company Information

Directors

Mr Kamal Sisodia

Mrs Radhika Sisodia

Company secretary

Mr Kamal Sisodia

Registered office

Landona House
Love Lane
Wem
Shrewsbury
SY4 5QP

Accountants

Gross Klein Wood
Chartered Certified Accountants
26b Tesla Court
Innovation Way
Peterborough
PE2 6FL

Auditors

Streets Audit LLP
Chartered Accountants & Statutory Auditors
Enterprise House
38 Tyndall Court
Commerce Road
Peterborough
Cambridgeshire
PE2 6LR

 

Landona House Limited

Strategic Report for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

Principal activity

The principal activity of the company is Residential care activities for the elderly and disabled

Fair review of the business

Landona House Ltd is a prominent care home provider in the United Kingdom, offering tailored residential, dementia, and nursing care services across eight care homes. Renowned for its high standards of care, the organisation is committed to delivering compassionate, safe, and innovative services, while striving to uphold sustainability and regulatory excellence.

Business Overview

Operational Highlights
 

Portfolio: Eight care homes located in key regions of the UK (5 in the year plus 3 purchases after the year end.).

Core Services:

 

Residential care: Providing a homely environment while fostering independence.

 

Dementia care: Tailored support emphasising dignity and cognitive well-being.

 

Specialist nursing care: Delivering advanced medical care for complex needs.

Performance Metrics
 

Turnover for the year was £14m (2023 £10.9m) , profits were £3m (2023 - £1.4m) and net assets at the balance sheet date were £8.2m (2023 £6m)

Key Locations
 

Landona House, Tollesby Hall, Delamere Lodge, Florence Mill, Beechcroft, Ferndale Court, Ferndale Mews, and Bishopsgate Lodge.

Sustainability Initiatives

Sustainability remains central to the ethos of Landona House Ltd. The organisation has taken significant strides in reducing its environmental footprint.
 

Renewable Energy
 

Solar panels have been installed at five of the eight care homes, significantly lowering dependence on non-renewable energy sources.

Sustainable Sourcing
 

Food supplies are procured exclusively from suppliers with a zero-carbon footprint.

Sustainable purchasing is ensured via Amazon’s business sustainability programme, using a pre-approved list of products that align with the company’s environmental objectives.

 

Landona House Limited

Strategic Report for the Year Ended 30 April 2024

Energy and Waste Efficiency
 

Energy-saving LED lighting has been installed across all facilities, with the aim of reducing energy consumption by 20% .

Enhanced waste management systems have been introduced, focusing on recycling and reducing landfill contributions.

Strategic Objectives
 

1

Enhance Quality of Care: Maintain excellence in resident outcomes through continuous investment in staff training and advanced care solutions.

2

Sustainability: Extend renewable energy use to all care homes by 2026 and deepen environmentally conscious practices.

3

Optimise Systems: Ensure all electronic systems are consistently utilised for operational efficiency and regulatory compliance.

4

Employee Development: Retain and develop staff through targeted career pathways and wellbeing initiatives.

Key Risks and Mitigations

Sustainability remains central to the ethos of Landona House Ltd. The organisation has taken significant strides in reducing its environmental footprint.

1

Regulatory Compliance Risks:

Impact: Non-adherence to standards set by the Care Quality Commission (CQC) could result in penalties and reputational damage.

Mitigation:

 

Regular compliance audits.

 

Mandatory staff training tailored to current regulations.

2

Staff Retention Challenges:

Impact: High turnover could affect the quality of care.

Mitigation:

 

Improved reward packages, including retention bonuses.

 

Enhanced workplace wellbeing initiatives.

3

Environmental and Financial Risks:

Impact: Rising energy costs and failure to meet sustainability targets could affect the organisation’s reputation and profitability.

Mitigation:

 

Expansion of renewable energy sources.

 

Strengthened partnerships with environmentally certified suppliers.

 

Landona House Limited

Strategic Report for the Year Ended 30 April 2024


Future Developments

Expansion Plans:
 

Exploration of two additional care home sites in high-demand regions to meet growing needs.

Technology Advancements:
 

Continued optimisation of electronic care records and management systems to enhance care delivery and operational oversight.

Sustainability Goals:
 

Aim to achieve a 30% reduction in the carbon footprint of operations by 2027 through expanded use of renewable energy and stricter resource efficiency measures.

Community Engagement:
 

Deepen partnerships with local charities and organisations to provide enhanced resident and family support.

Conclusion

Landona House Ltd remains steadfast in its dedication to delivering outstanding care and sustainable practices. By embracing innovation, fostering staff development, and prioritising regulatory compliance, the organisation is well-positioned to continue leading in the UK care sector while championing environmental stewardship.


The Directors contninually monitor the performance of the business and take appropriate actions to ensure high standards are maintained across all care homes.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mrs Radhika Sisodia
Director

 

Landona House 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 of the company

The directors who held office during the year were as follows:

Mr Kamal Sisodia - Company secretary and director

Mrs Radhika Sisodia

Employment of disabled persons

The Company recognises the importance of fostering a diverse and inclusive workplace that values and respects the unique perspectives and abilities of all employees. We are committed to promoting equality of opportunity and eliminating discrimination in all aspects of employment, including the recruitment, development, and retention of our workforce.

As part of our ongoing commitment to diversity and inclusion, we actively seek to create an accessible and supportive environment for employees with disabilities. We believe that a diverse workforce, including individuals with disabilities, brings a wealth of talent and creativity that enhances our overall business performance.

Engagement with employees

We recognise that our dedicated and skilled workforce is fundamental to the delivery of exceptional care services in the dynamic care home sector. We are proud of the commitment and compassion demonstrated by our employees, and we believe that their engagement and well-being are integral to our success.

Going concern

The Directors have reviewed the Company's financial projections and capital requirements for the next 12 months. These projections take into account the current economic conditions, market trends, and the impact of potential risks and uncertainties.

Based on this review, the Directors have a reasonable expectation that the Company has adequate resources to continue its operations for the foreseeable future. The Company's financial position and liquidity indicate that it will be able to meet its liabilities as they fall due.

Furthermore, the Directors have assessed the potential impact of external factors, including economic conditions, market volatility, and regulatory changes, and have considered the Company's ability to adapt to such changes. While uncertainties exist, the Directors are confident that the Company's business model and strategic plans position it well to navigate potential challenges.

It is important to note that the assessment of the going concern is inherently subjective, as it involves making judgments and estimates about future events. The Directors will continue to monitor the Company's financial performance, liquidity, and market conditions closely and will take appropriate actions to mitigate any emerging risks.

Therefore, the Directors have concluded that it is appropriate to prepare the financial statements on a going concern basis, and they have a reasonable expectation that the Company will continue to operate as a going concern for at least the next 12 months from the date of approval of these financial statements.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

 

Landona House Limited

Directors' Report for the Year Ended 30 April 2024

The company has chosen to set out in the strategic report information about the future developments of the company, objectives and policies, key risks and financial instruments.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mrs Radhika Sisodia
Director

 

Landona House Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

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

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

 

Landona House Limited

Independent Auditor's Report to the Members of Landona House Limited

Opinion

We have audited the financial statements of Landona House Limited (the 'company') for the year ended 30 April 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The 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 auditor 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 UK, including the FRC’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 director's 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 original financial statements were 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.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 matter prescribed by the Companies Act 2006

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

 

Landona House Limited

Independent Auditor's Report to the Members of Landona House Limited

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and 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 our 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 and the Directors' Report.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities [set out on page 7], 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.

Auditor 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 auditor’s 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws 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 discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates;

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation, Care Home legislation and health and safety legislation;

 

Landona House Limited

Independent Auditor's Report to the Members of Landona House Limited

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

 

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 considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

 

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;

tested journal entries to identify unusual transactions;

assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias; and

investigated the rationale behind significant or unusual transactions.

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;

reading the minutes of meetings of those charged with governance;

inquiring of management as to actual and potential litigation and claims; and

where appropriate reviewing correspondence with relevant regulators and legal advisors.

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 2006. Our 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 auditor’s 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.

 

Landona House Limited

Independent Auditor's Report to the Members of Landona House Limited

......................................
Heather McConnell (Senior Statutory Auditor)
For and on behalf of Streets Audit LLP, Statutory Auditor

Enterprise House
38 Tyndall Court
Commerce Road
Peterborough
Cambridgeshire
PE2 6LR

30 January 2025

 

Landona House Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

3

14,043,178

10,881,919

Cost of sales

 

(9,023,839)

(8,091,794)

Gross profit

 

5,019,339

2,790,125

Administrative expenses

 

(1,955,437)

(1,439,982)

Operating profit

4

3,063,902

1,350,143

Interest payable and similar expenses

5

-

317

Profit before tax

 

3,063,902

1,350,460

Tax on profit

8

(772,965)

(343,960)

Profit for the financial year

 

2,290,937

1,006,500

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Landona House Limited

(Registration number: 05269285)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

10

6,776,212

6,678,000

Current assets

 

Debtors

12

568,437

695,184

Cash at bank and in hand

 

5,330,748

1,916,882

 

5,899,185

2,612,066

Creditors: Amounts falling due within one year

14

(4,354,602)

(3,196,133)

Net current assets/(liabilities)

 

1,544,583

(584,067)

Total assets less current liabilities

 

8,320,795

6,093,933

Provisions for liabilities

15

(96,735)

(84,810)

Net assets

 

8,224,060

6,009,123

Capital and Reserves

 

Called up share capital

102

102

Retained Earnings

8,223,958

6,009,021

Shareholders' funds

 

8,224,060

6,009,123

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr Kamal Sisodia
Company secretary and director

.........................................
Mrs Radhika Sisodia
Director

 

Landona House Limited

Statement of Cash Flows for the Year Ended 30 April 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

2,290,937

1,006,500

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

312,332

238,524

Finance costs

5

-

(317)

Income tax expense

8

772,965

343,960

 

3,376,234

1,588,667

Working capital adjustments

 

Decrease/(increase) in trade debtors

12

126,747

(366,452)

Increase in trade creditors

14

506,234

2,046,250

Cash generated from operations

 

4,009,215

3,268,465

Income taxes paid

8

(108,805)

(636,945)

Net cash flow from operating activities

 

3,900,410

2,631,520

Cash flows from investing activities

 

Acquisitions of tangible assets

(410,544)

(1,525,861)

Cash flows from financing activities

 

Interest paid

5

-

317

Proceeds from bank borrowing draw downs

 

-

(45,931)

Dividends paid

19

(76,000)

(146,000)

Net cash flows from financing activities

 

(76,000)

(191,614)

Net increase in cash and cash equivalents

 

3,413,866

914,045

Cash and cash equivalents at 1 May

 

1,916,882

1,002,837

Cash and cash equivalents at 30 April

 

5,330,748

1,916,882

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Landona House
Love Lane
Wem
Shrewsbury
SY4 5QP
United Kingdom

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all material timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

3% reducing balance

Long leasehold land and buildings

1% reducing balance

Fixtures and fittings

20% reducing balance

Plant and machinery

20% reducing balance

Motor vehicles

25.00% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rendering of services

14,035,850

10,881,864

Interest received

7,328

55

14,043,178

10,881,919

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

312,332

238,524

Operating lease expense - plant and machinery

7,892

-

5

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

-

(317)

6

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

7,010,698

5,269,710

Social security costs

587,769

406,443

Pension costs, defined contribution scheme

97,998

77,530

Other employee expense

11,454

7,636

7,707,919

5,761,319

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

5

5

Care staff

326

335

331

340

7

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

18,192

17,334

8

Taxation

Tax charged/(credited) in the profit and loss account

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Current taxation

UK corporation tax

771,140

259,150

UK corporation tax adjustment to prior periods

(10,100)

-

761,040

259,150

Deferred taxation

Arising from origination and reversal of timing differences

11,925

84,810

Tax expense in the income statement

772,965

343,960

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of 25% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

3,063,902

1,350,460

Corporation tax at standard rate

771,140

259,150

Decrease in UK and foreign current tax from adjustment for prior periods

(10,100)

-

Tax increase from effect of capital allowances and depreciation

11,925

84,810

Total tax charge

772,965

343,960

Deferred tax

Deferred tax assets and liabilities

2024

Asset
£

Liability
£

Deferred tax

-

96,735

-

96,735

2023

Asset
£

Liability
£

Deferred tax

-

84,810

-

84,810

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

9

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

60,006

60,006

Disposals

(60,006)

(60,006)

At 30 April 2024

-

-

Amortisation

At 1 May 2023

60,006

60,006

Amortisation eliminated on disposals

(60,006)

(60,006)

At 30 April 2024

-

-

Carrying amount

At 30 April 2024

-

-

10

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

6,661,347

327,084

251,582

7,240,013

Additions

113,156

279,893

17,495

410,544

At 30 April 2024

6,774,503

606,977

269,077

7,650,557

Depreciation

At 1 May 2023

334,288

120,572

107,153

562,013

Charge for the year

176,841

98,655

36,836

312,332

At 30 April 2024

511,129

219,227

143,989

874,345

Carrying amount

At 30 April 2024

6,263,374

387,750

125,088

6,776,212

At 30 April 2023

6,327,059

206,512

144,429

6,678,000

Included within the net book value of land and buildings above is £5,648,671 (2023 - £5,706,717) in respect of freehold land and buildings and £614,703 (2023 - £620,343) in respect of long leasehold land and buildings.
 

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

11

Stocks

2024
£

2023
£

12

Debtors

Current

2024
£

2023
£

Trade Debtors

228,625

440,255

Other debtors

-

24,080

Accrued income

339,812

230,849

 

568,437

695,184

An adjustment to the presentation of accrued income has been made to these financial statements and the comparatives updated accordingly. The adjustment has made no impact to current assets in the prior period.

13

Cash and cash equivalents

2024
£

2023
£

Cash on hand

93

193

Cash at bank

5,275,551

1,861,585

Short-term deposits

55,104

55,104

5,330,748

1,916,882

14

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade Creditors

 

101,092

207,487

Amounts due to related parties

20

227,219

368,131

Social security and other taxes

 

152,426

128,107

Outstanding defined contribution pension costs

 

42,276

23,418

Other payables

 

3,135,901

2,425,537

Income tax liability

8

695,688

43,453

 

4,354,602

3,196,133

15

Provisions for liabilities

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Deferred tax
£

Total
£

At 1 May 2023

84,810

84,810

Increase (decrease) in existing provisions

11,925

11,925

At 30 April 2024

96,735

96,735

16

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £97,998 (2023 - £77,530).

Contributions totalling £42,276 (2023 - £23,418) were payable to the scheme at the end of the year and are included in creditors.

17

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

2

2

2

2

102

102

102

102

18

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

10,908

-

Later than one year and not later than five years

62,748

-

73,656

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £7,892 (2023 - £Nil).

19

Dividends

Interim dividends paid

 

Landona House Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Interim dividend of £760.00 (2023 - £1,460.00) per each Ordinary

76,000

146,000

 

 

20

Related party transactions

Dividends paid to directors

2024
£

2023
£

Mr Kamal Sisodia

Interim dividends

38,000

73,000

 

 

Mrs Radhika Sisodia

Interim dividends

38,000

73,000

 

 

Summary of transactions with entities with joint control or significant interest

Stapleton House Limited
 The directors and shareholders are also directors and shareholders of Stapleton House Limited, which runs and operates another Care Home. In line with the CQC requirements the registration of this care home comes under Landona House Limited. During the year Landona House Limited borrowed funds from Stapleton House Limited and at the year end Landona House Limited owed Stapleton House Limited £2,487,549 (2023 £1,961,730). There is no formal loan agreement and the loan is repayable on demand.

Loans from related parties

2024

Key management
£

Total
£

At start of period

368,131

368,131

At end of period

368,131

368,131

2023

Key management
£

Total
£

At start of period

234,412

234,412

Advanced

133,719

133,719

At end of period

368,131

368,131