LANTERN CARE HOMES LTD |
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BALANCE SHEET |
AS AT 31 DECEMBER 2024 |
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These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities. |
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For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
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Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. |
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Signed on behalf of the board of directors |
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M Oakes |
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Mrs V Hodgkins |
Director |
Director |
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Date approved by the board: 15 March 2025 |
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LANTERN CARE HOMES LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
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1 |
GENERAL INFORMATION |
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Lantern Care Homes Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are: |
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Registered office |
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Principal place of business |
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C9 Glyme Court |
The Elms |
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Oxford Office Village |
Dale Road |
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Langford Lane |
South Darley Dale |
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Kidlington |
Matlock |
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Oxford |
DE4 2EU |
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OX5 1LQ |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
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These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006. |
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Revenue recognition |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) |
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Creditors |
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Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost. |
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Leases |
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Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases. |
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Payments applicable to operating leases are charged against profit on a straight line basis over the lease term. |
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Taxation |
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Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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LANTERN CARE HOMES LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
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6 |
FIXED ASSET INVESTMENTS |
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Investment property |
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£ |
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Cost |
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At 1 January 2024 |
46,506 |
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At 31 December 2024 |
46,506 |
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Net book value |
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At 1 January 2024 |
46,506 |
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At 31 December 2024 |
46,506 |
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In the opinion of the directors, all investment property has been stated at fair value. |
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7 |
DEBTORS |
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2024 |
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2023 |
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£ |
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£ |
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Trade debtors |
52,337 |
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32,180 |
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Prepayments and accrued income |
15,652 |
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4,190 |
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Other debtors |
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2,596 |
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67,989 |
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38,966 |
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8 |
CREDITORS: Amounts falling due within one year |
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2024 |
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2023 |
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£ |
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£ |
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Trade creditors |
1,775 |
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- |
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Taxation and social security |
65,719 |
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15,653 |
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Accruals and deferred income |
2,107 |
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6,003 |
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Other creditors |
81,811 |
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2,714 |
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151,412 |
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24,370 |
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9 |
CONTINGENCIES AND COMMITMENTS |
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Other Commitments |
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Amounts falling due under operating leases: |
2024 |
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2023 |
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£ |
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£ |
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In less than one year |
53,784 |
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50,280 |
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In more than one but less than five years |
264,438 |
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247,210 |
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318,222 |
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297,490 |
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11 |
RELATED PARTY TRANSACTIONS |
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During the year, the following transactions with related parties took place: |
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Mrs V Hodgkins |
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Director and shareholder |
2024 |
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2023 |
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£ |
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£ |
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Advances from the director |
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The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: |
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24,869 |
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430 |
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M Oakes |
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Director and shareholder |
2024 |
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2023 |
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£ |
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£ |
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Advances from the director |
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The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: |
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843 |
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- |
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W J Hawketts |
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Director and shareholder |
2024 |
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2023 |
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£ |
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£ |
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Advances from the director |
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The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: |
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934 |
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- |
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