Registered number
06177624
CHASE LODGE HEALTH LTD
Filleted Accounts
31 March 2024
CHASE LODGE HEALTH LTD
Registered number: 06177624
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,949,592 9,031,914
Investments 4 200 200
8,949,792 9,032,114
Current assets
Debtors 5 40,780 598,604
Cash at bank and in hand 51,494 35,838
92,274 634,442
Creditors: amounts falling due within one year 6 (1,802,004) (2,577,803)
Net current liabilities (1,709,730) (1,943,361)
Total assets less current liabilities 7,240,062 7,088,753
Creditors: amounts falling due after more than one year 7 (6,914,171) (6,446,167)
Provisions for liabilities - (387)
Net assets 325,891 642,199
Capital and reserves
Called up share capital 186 186
Share premium 15 15
Revaluation reserve 8 582,960 582,960
Profit and loss account (257,270) 59,038
Shareholders' funds 325,891 642,199
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ibrahim Halil YAHLI
Director
Approved by the board on 18 February 2025
CHASE LODGE HEALTH LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the lettings.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, as follows:
Freehold buildings 1% depreciation
Plant and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 9,264,460 29,204 9,293,664
Disposals/adjustments (23,081) - (23,081)
At 31 March 2024 9,241,379 29,204 9,270,583
Depreciation
At 1 April 2023 234,094 27,656 261,750
Charge for the year 58,855 386 59,241
At 31 March 2024 292,949 28,042 320,991
Net book value
At 31 March 2024 8,948,430 1,162 8,949,592
At 31 March 2023 9,030,366 1,548 9,031,914
During the year £ 22,881 has been adjusted from the previously capitalised improvement costs, due to cancellation of the work; £ 200 cosmetic expense has been written off; these capitalised costs were transferred from the subsidiary, Chase Lodge Hospital Pharmacy Ltd on a tax neutral basis.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 200
At 31 March 2024 200
5 Debtors 2024 2023
£ £
Trade debtors 5,781 5,645
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 553,573
Other debtors 34,999 39,386
40,780 598,604
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 335,400 233,335
Trade creditors 37,404 22,264
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 858,473
Other creditors 1,429,200 1,463,731
1,802,004 2,577,803
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,063,192 3,500,387
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,850,979 2,945,780
6,914,171 6,446,167
"HSBC Bank PLC have a fixed charge and a floating charge on all the property and undertakings of the company, dated 24 December 2007.
HSBC Bank PLC have a legal mortgage on the leasehold property of the company, dated 26 March 2009.
HSBC Bank PLC have a legal mortgage on the leasehold property of the company, dated 15 September 2017.
HSBC Bank PLC have a fixed charge and a floating charge on all the property and undertakings of the company, dated 24 February 2021.
HSBC Bank PLC have a charge over all freehold property of the company, dated 24 December 2007."
Loan payable to group companies includes the costs of the construction of a Day Surgery Unit (DSU).
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 582,960 582,960
At 31 March 2024 582,960 582,960
9 Controlling party
The ultimate controlling party is Mr Ibrahim Halil YAHLI , by virtue of his 89% ownership of the issued share capital of the company.
10 Other information
CHASE LODGE HEALTH LTD is a private company limited by shares and incorporated in England. Its registered office is:
Chase Lodge, Page Street
Mill Hill
London
NW7 2ED
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