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REGISTERED NUMBER: 05211787 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

BESTCARE LIMITED

BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


BESTCARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr M Pattani
Dr R Pandya



SECRETARY: Mr M Pattani



REGISTERED OFFICE: 2 Edgeley Close
Heathley Park
Leicester
Leicestershire
LE3 9EX



REGISTERED NUMBER: 05211787 (England and Wales)



ACCOUNTANTS: R Pau & Co Limited
Chartered Certified Accountants
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ



BANKERS: Lloyds TSB Bank plc
7 High Street
Leicester
Leicestershire
LE1 9FS

BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 129,292 131,708
Tangible assets 5 4,006,821 3,228,299
4,136,113 3,360,007

CURRENT ASSETS
Stocks 6,103 5,356
Debtors 213,829 98,462
Cash at bank and in hand 949,711 1,171,561
1,169,643 1,275,379
CREDITORS
Amounts falling due within one year 455,674 359,551
NET CURRENT ASSETS 713,969 915,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,850,082

4,275,835

CREDITORS
Amounts falling due after more than one
year

(1,484,519

)

(1,658,975

)

PROVISIONS FOR LIABILITIES (108,409 ) (101,952 )
NET ASSETS 3,257,154 2,514,908

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 794,232 -
Retained earnings 2,462,822 2,514,808
SHAREHOLDERS' FUNDS 3,257,154 2,514,908

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

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

The directors acknowledge their 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.

BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th February 2025 and were signed on its behalf by:




Mr M Pattani - Director



Dr R Pandya - Director


BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Bestcare 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents gross fees from residential and nursing care and is measured at the fair value of the consideration received.

Turnover from receipt of gross fees received is recognised as they fall due from patient stay. This is when significant risks and rewards of ownership of the services have transferred to the patient, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill represents the excess value on the purchase of the residential and nursing freehold at 107 Leicester Road, Wigston (Willows court), 120 Armadale House, Netherhall (Vishram Ghar) and Ellesmere House, Churchill.

Goodwill has been valued individually at £320,000, £100,000 and £125,000 respectively and is amortised on a straight line basis over 20 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
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold property has not been depreciated because it is assumed to have an unlimited useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 69 (2023 - 68 ) .

BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st April 2023 545,000
Revaluations 24,834
At 31st March 2024 569,834
AMORTISATION
At 1st April 2023 413,292
Amortisation for year 27,250
At 31st March 2024 440,542
NET BOOK VALUE

At 31st March 2024 129,292
At 31st March 2023 131,708

Cost or valuation at 31st March 2024 is represented by:

Totals
£   
Valuation in 2024 569,834

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st April 2023 4,991,409
Additions 267,016
Revaluations 769,398
At 31st March 2024 6,027,823
DEPRECIATION
At 1st April 2023 1,763,110
Charge for year 257,892
At 31st March 2024 2,021,002
NET BOOK VALUE
At 31st March 2024 4,006,821
At 31st March 2023 3,228,299

BESTCARE LIMITED (REGISTERED NUMBER: 05211787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st March 2024 is represented by:

Totals
£   
Valuation in 2024 6,027,823

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,636,799 1,785,697

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Revaluation
reserve
£   
No description 794,232

At 31st March 2024 794,232