Company registration number 10975981 (England and Wales)
THE TIDES CLOISTERS CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE TIDES CLOISTERS CARE LIMITED
COMPANY INFORMATION
Directors
Mr P Khosla
Mr K K Sejpal
Company number
10975981
Registered office
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
Business address
5 Abbotsford Road
Crosby
Liverpool
L23 6UX
THE TIDES CLOISTERS CARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
THE TIDES CLOISTERS CARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
650,776
673,859
Current assets
Debtors
4
119,113
97,034
Cash at bank and in hand
104,618
6,881
223,731
103,915
Creditors: amounts falling due within one year
5
(399,784)
(423,704)
Net current liabilities
(176,053)
(319,789)
Total assets less current liabilities
474,723
354,070
Creditors: amounts falling due after more than one year
6
(386,031)
(411,247)
Provisions for liabilities
8
(25,677)
-
0
Net assets/(liabilities)
63,015
(57,177)
Capital and reserves
Called up share capital
10
3
3
Profit and loss reserves
63,012
(57,180)
Total equity
63,015
(57,177)
THE TIDES CLOISTERS CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mr P Khosla
Director
Company registration number 10975981 (England and Wales)
THE TIDES CLOISTERS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

The Tides Cloisters Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fernwood House, Fernwood Road, Jesmond, Newcastle upon Tyne, Tyne and Wear, England, NE2 1TJ. The principal place of business is 5 Abbotsford Road, Crosby, Liverpool, L23 6UX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in UK sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis which, in the opinion of the directors, is the appropriate basis. The company's ability to continue trading is dependent upon the on-going support of its shareholders. In the event that the company is unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount.

1.3
Turnover

Turnover represents care home residents' fees receivable (exempt from value added tax) which are recognised either under the terms of contracts with local authorities or under the terms of short term letting agreements.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% on cost
Fixtures and fittings
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

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 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 the 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.

THE TIDES CLOISTERS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 and deferred taxation assets and liabilities are not discounted.

Current tax

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 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.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.10

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.

1.11

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.

THE TIDES CLOISTERS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
23
23
3
Tangible fixed assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
531,421
342,578
873,999
Additions
-
0
18,110
18,110
At 31 March 2024
531,421
360,688
892,109
Depreciation and impairment
At 1 April 2023
47,383
152,757
200,140
Depreciation charged in the year
10,524
30,669
41,193
At 31 March 2024
57,907
183,426
241,333
Carrying amount
At 31 March 2024
473,514
177,262
650,776
At 31 March 2023
484,038
189,821
673,859
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
89,836
90,677
Other debtors
25,690
3,463
Prepayments and accrued income
3,587
2,894
119,113
97,034
THE TIDES CLOISTERS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7
44,626
44,178
Trade creditors
17,265
10,515
Corporation tax
2,012
-
0
Other taxation and social security
37,159
58,622
Other creditors
297,050
304,888
Accruals and deferred income
1,672
5,501
399,784
423,704
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
386,031
411,247
Amounts included above which fall due after five years are as follows:
Payable by instalments
224,212
241,357
7
Loans and overdrafts
2024
2023
£
£
Bank loans
430,657
455,425
Payable within one year
44,626
44,178
Payable after one year
386,031
411,247

The bank loan is secured by fixed charges over the company's freehold property.

8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9
25,677
-
0
THE TIDES CLOISTERS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Deferred taxation
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
25,677
-
2024
Movements in the year:
£
Liability at 1 April 2023
-
Charge to profit or loss
25,677
Liability at 31 March 2024
25,677
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
1
1
1
Ordinary C of £1 each
1
1
1
1
3
3
3
3
11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

2024
2023
Amounts due to related parties
£
£
Key management personnel
100,015
100,015
Other related parties
163,844
176,299

The above loans are unsecured, interest free and repayable on demand.

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