IRIS Accounts Production v24.3.2.46 05344617 Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053446172023-06-30053446172024-06-30053446172023-07-012024-06-30053446172022-06-30053446172022-07-012023-06-30053446172023-06-3005344617ns15:EnglandWales2023-07-012024-06-3005344617ns14:PoundSterling2023-07-012024-06-3005344617ns10:Director12023-07-012024-06-3005344617ns10:Director22023-07-012024-06-3005344617ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3005344617ns10:SmallEntities2023-07-012024-06-3005344617ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3005344617ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3005344617ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005344617ns10:FullAccounts2023-07-012024-06-300534461712023-07-012024-06-3005344617ns10:CompanySecretary12023-07-012024-06-3005344617ns10:RegisteredOffice2023-07-012024-06-3005344617ns5:CurrentFinancialInstruments2024-06-3005344617ns5:CurrentFinancialInstruments2023-06-3005344617ns5:Non-currentFinancialInstruments2024-06-3005344617ns5:Non-currentFinancialInstruments2023-06-3005344617ns5:ShareCapital2024-06-3005344617ns5:ShareCapital2023-06-3005344617ns5:RetainedEarningsAccumulatedLosses2024-06-3005344617ns5:RetainedEarningsAccumulatedLosses2023-06-3005344617ns5:NetGoodwill2023-07-012024-06-3005344617ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3005344617ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-07-012024-06-3005344617ns5:FurnitureFittings2023-07-012024-06-3005344617ns5:NetGoodwill2023-06-3005344617ns5:NetGoodwill2024-06-3005344617ns5:NetGoodwill2023-06-3005344617ns5:LandBuildings2023-06-3005344617ns5:FurnitureFittings2023-06-3005344617ns5:LandBuildings2023-07-012024-06-3005344617ns5:LandBuildings2024-06-3005344617ns5:FurnitureFittings2024-06-3005344617ns5:LandBuildings2023-06-3005344617ns5:FurnitureFittings2023-06-3005344617ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3005344617ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3005344617ns5:Secured2024-06-3005344617ns5:Secured2023-06-30
REGISTERED NUMBER: 05344617 (England and Wales)















Unaudited Financial Statements

For The Year Ended 30 June 2024

for

Manage Care Homes Limited

Manage Care Homes Limited (Registered number: 05344617)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Manage Care Homes Limited

Company Information
For The Year Ended 30 June 2024







DIRECTORS: Mr S P Shah
Mr M P Shah





SECRETARY: Mr S P Shah





REGISTERED OFFICE: Burleigh House
41 Letchworth Road
Baldock
Hertfordshire
SG7 6AA





REGISTERED NUMBER: 05344617 (England and Wales)





ACCOUNTANTS: RNS Business Solutions Limited
Chartered Accountants
276 Preston Road
Harrow
Middlesex
HA3 0QA

Manage Care Homes Limited (Registered number: 05344617)

Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,750 15,500
Tangible assets 5 2,724,047 2,724,998
2,731,797 2,740,498

CURRENT ASSETS
Debtors 6 163,900 83,933
Cash at bank and in hand 401,645 297,080
565,545 381,013
CREDITORS
Amounts falling due within one year 7 (437,402 ) (637,664 )
NET CURRENT ASSETS/(LIABILITIES) 128,143 (256,651 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,859,940

2,483,847

CREDITORS
Amounts falling due after more than one year 8 (1,656,374 ) (1,350,249 )
NET ASSETS 1,203,566 1,133,598

CAPITAL AND RESERVES
Called up share capital 103 103
Profit and loss account 1,203,463 1,133,495
SHAREHOLDERS' FUNDS 1,203,566 1,133,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Manage Care Homes Limited (Registered number: 05344617)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:




Mr S P Shah - Director



Mr M P Shah - Director


Manage Care Homes Limited (Registered number: 05344617)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Manage 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover from the rendering of care home services for the elderly, provision of ancillary care to patients and review of ancillary businesses is recognised by reference to the stage of completion of the contract.

Goodwill
Externally purchased goodwill is stated at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its estimated useful life of ten years on straight line basis from transition date of new UK GAAP FRS 102.

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.
Freehold property - nil rate
Fixtures and fittings - 25% on reducing balance

The freehold property is maintained to a high standard and any depreciation charge would be immaterial. Therefore depreciation was at nil rate. This is a departure from the requirement of Companies Act 2006 and UK GAAP. However in the opinion of the directors this approach is adopted to give a true and fair view.

Government grants
Government grants, including non-monetary grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants are recognised either based on the performance model or the accrual model. This policy is applied on a class-by-class basis.

Manage Care Homes Limited (Registered number: 05344617)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Profit and Loss Account.

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 and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2023 - 60 ) .

Manage Care Homes Limited (Registered number: 05344617)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 155,000
AMORTISATION
At 1 July 2023 139,500
Charge for year 7,750
At 30 June 2024 147,250
NET BOOK VALUE
At 30 June 2024 7,750
At 30 June 2023 15,500

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 July 2023 2,687,489 260,072 2,947,561
Additions - 11,233 11,233
At 30 June 2024 2,687,489 271,305 2,958,794
DEPRECIATION
At 1 July 2023 - 222,563 222,563
Charge for year - 12,184 12,184
At 30 June 2024 - 234,747 234,747
NET BOOK VALUE
At 30 June 2024 2,687,489 36,558 2,724,047
At 30 June 2023 2,687,489 37,509 2,724,998

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 148,885 70,767
Other debtors 15,015 13,166
163,900 83,933

Manage Care Homes Limited (Registered number: 05344617)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts 36,754 210,969
Trade creditors 9,750 20,119
Taxation and social security 99,354 75,989
Other creditors 291,544 330,587
437,402 637,664

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Bank loans 1,656,374 1,350,249

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,474,528 -

9. SECURED DEBTS

The following secured debts are included within creditors:

30/6/24 30/6/23
£    £   
Bank loans 1,693,128 1,561,218

Bank loans are secured by way of a first legal charge over the company's freehold property.

10. RELATED PARTY DISCLOSURES

Included in creditors is an amount due to directors and shareholders of £23,275 (2023: £101,162). The outstanding loan due is interest free and payable on demand.