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REGISTERED NUMBER: 06333996 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

FOUNDATION CARE (NORWICH) LIMITED

FOUNDATION CARE (NORWICH) LIMITED (REGISTERED NUMBER: 06333996)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOUNDATION CARE (NORWICH) LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J Michael





SECRETARY: I Hoffman





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 06333996 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

FOUNDATION CARE (NORWICH) LIMITED (REGISTERED NUMBER: 06333996)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,009,085 2,008,336
2,009,085 2,008,336

CURRENT ASSETS
Debtors 6 46,257 63,131
Cash at bank and in hand 29,485 72,977
75,742 136,108
CREDITORS
Amounts falling due within one year 7 393,359 472,271
NET CURRENT LIABILITIES (317,617 ) (336,163 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,691,468

1,672,173

CREDITORS
Amounts falling due after more than one
year

8

2,524,326

2,542,158
NET LIABILITIES (832,858 ) (869,985 )

CAPITAL AND RESERVES
Called up share capital 200 200
Profit and loss account (833,058 ) (870,185 )
SHAREHOLDERS' FUNDS (832,858 ) (869,985 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FOUNDATION CARE (NORWICH) LIMITED (REGISTERED NUMBER: 06333996)

Balance Sheet - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2025 and were signed by:





J Michael - Director


FOUNDATION CARE (NORWICH) LIMITED (REGISTERED NUMBER: 06333996)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Foundation Care (Norwich) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.

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

Goodwill - 10 years

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

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

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

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Going concern
The balance sheet at the end of the year recorded net current liabilities. However, the director believes sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - NIL ) .

FOUNDATION CARE (NORWICH) LIMITED (REGISTERED NUMBER: 06333996)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,725,000
AMORTISATION
At 1 April 2023
and 31 March 2024 1,725,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,998,434 1,713 96,614 21,537 2,118,298
Additions - - 3,746 - 3,746
At 31 March 2024 1,998,434 1,713 100,360 21,537 2,122,044
DEPRECIATION
At 1 April 2023 - 1,713 88,713 19,536 109,962
Charge for year - - 2,330 667 2,997
At 31 March 2024 - 1,713 91,043 20,203 112,959
NET BOOK VALUE
At 31 March 2024 1,998,434 - 9,317 1,334 2,009,085
At 31 March 2023 1,998,434 - 7,901 2,001 2,008,336

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 44,972 53,411
Other debtors 1,285 9,720
46,257 63,131

FOUNDATION CARE (NORWICH) LIMITED (REGISTERED NUMBER: 06333996)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 106,859 158,436
Trade creditors 12,311 9,814
Tax 11,593 56,801
Social security and other taxes 12,802 -
Other creditors 245,000 245,000
Net wages 229 -
Pension payable 2,345 -
Accruals and deferred income 2,220 2,220
393,359 472,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 106,859 158,436
Bank loans - 2-5 years 320,576 475,307
Bank loans more 5 yr by instal 907,646 719,170
Other loans - 2-5 years 785,887 785,887
Deferred income 403,358 403,358
2,524,326 2,542,158

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 907,646 719,170

An amount of £403,358 in deferred income relates to the receipt of a grant from the Department of Health for the sole purpose of improving the environment of care at Manton Hall Residential Care Home, Lyndon Road, Manton, Rutland LE15 8SR, for people with dementia, their families and carers.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,441,940 1,511,349

They are secured by the company.