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REGISTERED NUMBER: 05093360 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

North East Care Homes Limited

North East Care Homes Limited (Registered number: 05093360)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


North East Care Homes Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: T L Chopra
R Singh Dhugga
S Singh





SECRETARY: T L Chopra





REGISTERED OFFICE: Flannagans Unit 7 Bankside
The Watermark
Gateshead
NE11 9SY





REGISTERED NUMBER: 05093360 (England and Wales)





ACCOUNTANTS: Flannagans - Hartlepool Office
Chartered Certified Accountants
7 Bankside
The Watermark
Gateshead
Tyne and Wear
NE11 9SY

North East Care Homes Limited (Registered number: 05093360)

Abridged Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 800,000 850,000
Tangible assets 5 4,390,355 4,498,707
5,190,355 5,348,707

CURRENT ASSETS
Stocks 6,000 6,500
Debtors 504,636 324,261
Cash at bank and in hand 439,877 221,830
950,513 552,591
CREDITORS
Amounts falling due within one year 993,329 879,536
NET CURRENT LIABILITIES (42,816 ) (326,945 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,147,539

5,021,762

CREDITORS
Amounts falling due after more than one year 6 4,396,518 4,673,718
NET ASSETS 751,021 348,044

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 1,000,000 1,000,000
Retained earnings (249,079 ) (652,056 )
SHAREHOLDERS' FUNDS 751,021 348,044

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

North East Care Homes Limited (Registered number: 05093360)

Abridged Balance Sheet - continued
31 July 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 Income Statement and an abridged Balance Sheet for the year ended 31 July 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 22 March 2025 and were signed on its behalf by:





T L Chopra - Director


North East Care Homes Limited (Registered number: 05093360)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

North East Care Homes 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

This is made up of sales made during the year, and represents the amounts due in respect of providing care facilities to the residents.

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 each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

North East Care Homes Limited (Registered number: 05093360)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 190 (2023 - 180 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 1,050,000
AMORTISATION
At 1 August 2023 200,000
Amortisation for year 50,000
At 31 July 2024 250,000
NET BOOK VALUE

At 31 July 2024 800,000
At 31 July 2023 850,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 7,170,645
Additions 19,234
At 31 July 2024 7,189,879
DEPRECIATION
At 1 August 2023 2,671,938
Charge for year 127,586
At 31 July 2024 2,799,524
NET BOOK VALUE
At 31 July 2024 4,390,355
At 31 July 2023 4,498,707

North East Care Homes Limited (Registered number: 05093360)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

The bank loans are secured by fixed and floating charges over the properties and assets of the company.

7. RESERVES
Revaluation
reserve
£   
At 1 August 2023
and 31 July 2024 1,000,000

8. CONTROLLING INTEREST

The company is under the common control of Mr. Dhugga and Mr. Chopra.