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REGISTERED NUMBER: 14215331 (England and Wales)











GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 6

Statement of Directors' Responsibilities 8

Report of the Independent Auditors 9

Consolidated Income Statement 13

Consolidated Other Comprehensive Income 14

Consolidated Balance Sheet 15

Company Balance Sheet 17

Consolidated Statement of Changes in Equity 18

Company Statement of Changes in Equity 20

Consolidated Cash Flow Statement 21

Notes to the Consolidated Cash Flow Statement 22

Notes to the Consolidated Financial Statements 24


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: K R Gunputh
J C Barrett





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 14215331 (England and Wales)





AUDITORS: Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their strategic report of the company and the group for the period ended 30 June 2024.

Luxurycare operates six care homes in Poole and Bournemouth, providing high-quality care for the elderly and individuals with long-term care needs. The company continues to emphasise personalised care, ethical practices, and operational efficiency. With strong demand for care services in the region, Luxurycare's homes have maintained a reputation for exceptional service while leveraging operational synergies across its portfolio.

Throughout the year, Luxurycare remained committed to its core principles of staff development and innovation in care delivery. A Head of People was appointed in April 2024 to accommodate this growing staff team. By focusing on resident well-being and staff satisfaction, the group has continued to meet and exceed regulatory and industry benchmarks, despite challenges from rising costs and regulatory changes.


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

REVIEW OF BUSINESS
Development and Performance During the Financial Year

In 2024, Luxurycare maintained strong occupancy rates and focused on enhancing operational efficiency while managing the effects of inflation and regulatory changes.

Key Performance Indicators (KPIs):

- Occupancy Rates: Occupancy remained robust, reflecting continued high demand for care services.

- Staff Retention Rates: A strong focus on staff training and development helped improve retention,
contributing to the overall stability of care delivery.

- Resident Satisfaction: Positive resident feedback and surveys highlighted satisfaction with the personalised care and living environment.

- Financial Performance: Despite economic pressures, the group achieved steady financial performance
through prudent cost management and a focus on EBITDA improvement.

The annualised increase in turnover was 7.88% compared to 30% in the previous period which included a new care home contributing to the results of the group.

During the year, the group invested in facility upgrades, resulting in improved living conditions for residents.

Additionally, operational efficiencies, such as reduced use of agency staff, contributed to better financial outcomes and lower staff turnover

Position of the Company at Year End

At the close of 2024, Luxurycare's position remained stable, supported by strong financial and operational
foundations. Notable highlights include :

- Occupancy : The company maintained high occupancy rates across its care homes, demonstrating the
enduring demand for its services.

- Financial Stability : Through a focus on cost containment and operational efficiencies, the group sustained strong financial health, balancing revenue growth and expense management.

- Workforce Development : Ongoing investment in staff development led to improved retention rates,
reducing the group's reliance on external staffing solutions.

Important Events Since the End of the Financial Year

Since the end of the financial year, Luxurycare has introduced new technology to monitor resident well-being and improve operational efficiency. These initiatives, which include the implementation of enhanced call-bell systems and digital tools for staff, are expected to improve both resident care and staff productivity.




LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Likely Future Developments

Looking forward, Luxurycare is poised to focus on:

-Technological Integration: Continued investment in digital tools and systems to improve care delivery and operational efficiency.

-Sustainability Initiatives: The group plans to align with broader sustainability goals, exploring energy-efficient technologies and construction standards to reduce environmental impact.

- Market Expansion: The group is assessing opportunities for expanding its portfolio, either through
acquisitions or the development of new facilities, to meet growing demand.

Overall, Luxurycare is well-positioned to navigate the changing landscape of the care home industry. With a commitment to innovation, sustainability, and high-quality care, the group remains focused on sustainable growth and operational excellence.

PRINCIPAL RISKS AND UNCERTAINTIES
Luxurycare faces several external risks that could affect its operations :

- Regulatory Changes : Shifts in healthcare and care home regulations may impact operational costs and
compliance requirements.

- Economic Conditions : Inflation and interest rate increases, as well as economic uncertainties, could
influence operating margins, particularly in terms of staff costs and facility management

- Staff Recruitment : Although the group successfully reduced agency costs, the nationwide shortage of care staff poses ongoing recruitment challenges

In light of these challenges, the group is continuing to leverage its sponsorship licence, allowing it to recruit from overseas. However, the UK's restrictive immigration policies, such as the recent ban on care workers bringing dependents, could hinder future recruitment efforts. A Compliance Manager was appointed in June 2024 to assist with regulatory compliance.


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

SECTION 172(1) STATEMENT
The board is in the process of reviewing the need for an audit committee but the board engage with suppliers and lenders on a regular basis. A detailed report will be provided in the next report.

The care homes are committed to ensuring that all residents and funders are treated fairly and that any problems are addressed on a timely basis.

ON BEHALF OF THE BOARD:




J C Barrett - Director


1 April 2025

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was the provision of care services.

DIVIDENDS
No interim dividends were paid during the year ended 30 June 2024.

The directors recommend final dividends per share as follows:


The total distribution of dividends for the year ended 30 June 2024 will be £ 41,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

K R Gunputh
J C Barrett

Other changes in directors holding office are as follows:

S Gunputh - resigned 29 June 2024

ENGAGEMENT WITH EMPLOYEES
The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of the employees of the financial and economic factors affecting the groups' performance.

There is no employee share scheme at present.

Disabled persons
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitude of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

STREAMLINED ENERGY AND CARBON REPORTING
During the year the group consumed 937,332 kwh of electricity and 2,775,549 kwh of natural gas. In the opinion of the directors the fuel consumption of the group is considered to be de minimis and does not require disclosure.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J C Barrett - Director


1 April 2025

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2024


The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES


Opinion
We have audited the financial statements of Luxurycare Holdings Ltd and its subsidiaries (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page eight, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In order that we can understand the legal and regulatory frameworks that apply to the company we have utilised our existing knowledge of the business and which has been supported by discussions with directors. The audit team are briefed on these laws and regulations so that they can remain vigilant for non-compliance throughout the entire audit process.

The operational regulations which directly affect the financial statements or their notes include:
- Care Quality Commission regulations
- Health and safety laws
- GDPR
- Food hygiene laws
- Employment law and pension law

Any non-compliance with these operational regulations could result in fines and penalties that may have a material impact on the amounts disclosed within the financial statements.

Our method of identifying risks of material misstatement due to fraud include assessing events and conditions within the company that may be more susceptible to fraud due to the opportunities or incentives that exist therein. We have made enquiries to directors regarding their knowledge of any instances of fraud and we have investigated unusual transactions and unexpected relationships. We consider the potential for fraud to be highest in the areas of recognition of income and misappropriation of income.

Audit procedures are designed to respond to risks of material misstatement due to irregularities, including fraud.

As a result of our risk assessment procedures, we have planned and performed the following procedures to identify non-compliance with laws and regulations described above:

- Testing the disclosures contained within the financial statements to supporting evidence and ensuring compliance with relevant laws and regulations identified as having an effect on the financial statements.

- Discussion with directors relating to non-compliance with the laws and regulations identified as having an effect on the financial statements.

- Performing analytical procedures to identify unusual and unexpected transactions that indicate potential material misstatement due to fraud.

- Risks relating to management override of controls were addressed by testing the appropriateness of journal entries and other adjustments. An assessment of whether accounting estimates are indicative of potential bias was undertaken.

- Unusual transactions were reviewed with directors to ensure that the commercial reasoning was reasonable within the normal course of business.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES


Due to the inherent limitations of an audit, there is an unavoidable risk that, despite properly planning and performing our audit in accordance with auditing standards, some material misstatements may not have been detected.

Auditing standards limit the audit procedures required to identify non-compliance with other operational laws and regulations to enquiry of directors and management and inspection of any correspondence. If a breach of operational regulations is not evident from relevant correspondence or disclosed to us, an audit is unlikely to detect that breach. In addition, the further removed non-compliance with laws and regulations is from the events and transactions included in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, the risk of not detecting material misstatement from due to fraud is higher than the risk of one not being detected through error as fraud may involve deliberate concealment through collusion, forgery, misrepresentations and intentional omissions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Andrew A Clark FCA (Senior Statutory Auditor)
for and on behalf of Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

1 April 2025

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
Notes £    £   

TURNOVER 3 21,210,821 24,516,796

Cost of sales 14,714,697 16,813,025
GROSS PROFIT 6,496,124 7,703,771

Administrative expenses 3,908,192 4,546,953
2,587,932 3,156,818

Other operating income 259,015 136,536
OPERATING PROFIT 5 2,846,947 3,293,354

Interest receivable and similar income 17,276 3,311
2,864,223 3,296,665
Gain/loss on revaluation of investment
property

108,458

-
2,972,681 3,296,665

Interest payable and similar expenses 7 1,818,317 3,336,331
PROFIT/(LOSS) BEFORE TAXATION 1,154,364 (39,666 )

Tax on profit/(loss) 8 399,659 313,398
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

754,705

(353,064

)
Profit/(loss) attributable to:
Owners of the parent 81,171 (1,502,843 )
Non-controlling interests 673,534 1,149,779
754,705 (353,064 )

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 754,705 (353,064 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

754,705

(353,064

)
Note
Prior year adjustment 11 (19,450 ) 60,246
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

735,255

(292,818

)

Total comprehensive income attributable to:
Owners of the parent 61,721 (1,442,597 )
Non-controlling interests 673,534 1,149,779
735,255 (292,818 )

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 1,026,296 1,479,296
Tangible assets 13 26,162,473 26,261,481
Investments 14 - -
Investment property 15 1,140,000 1,031,542
28,328,769 28,772,319

CURRENT ASSETS
Stocks 16 10,500 10,500
Debtors 17 4,993,327 4,898,191
Cash at bank and in hand 1,272,233 1,706,430
6,276,060 6,615,121
CREDITORS
Amounts falling due within one year 18 4,773,749 5,367,341
NET CURRENT ASSETS 1,502,311 1,247,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,831,080

30,020,099

CREDITORS
Amounts falling due after more than one
year

19

(24,049,111

)

(24,977,975

)

PROVISIONS FOR LIABILITIES 23 (97,882 ) (71,744 )
NET ASSETS 5,684,087 4,970,380

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED BALANCE SHEET - continued
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 24 4 2
Revaluation reserve 81,344 -
Retained earnings 743,725 784,898
825,073 784,900

NON-CONTROLLING INTERESTS 4,859,014 4,185,480
TOTAL EQUITY 5,684,087 4,970,380


The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





J C Barrett - Director


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

COMPANY BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 466,250 -
Tangible assets 13 413,683 -
Investments 14 300 300
Investment property 15 - -
880,233 300

CURRENT ASSETS
Debtors 17 8,646,811 15,533,206
Cash in hand 4 2
8,646,815 15,533,208
CREDITORS
Amounts falling due within one year 18 5,074,454 13,838,993
NET CURRENT ASSETS 3,572,361 1,694,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,452,594

1,694,515

CAPITAL AND RESERVES
Called up share capital 24 4 2
Retained earnings 4,452,590 1,694,513
4,452,594 1,694,515

Company's profit for the financial year 2,799,077 1,694,513

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





J C Barrett - Director


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 April 2022 200 2,227,495 -
Prior year adjustment - 60,246 -
As restated 200 2,287,741 -

Changes in equity
Issue of share capital (198 ) - -
Total comprehensive income - (1,483,393 ) -
Balance at 30 June 2023 2 804,348 -
Prior year adjustment - (19,450 ) -
As restated 2 784,898 -

Changes in equity
Issue of share capital 2 - -
Dividends - (41,000 ) -
Total comprehensive income - (173 ) 81,344
Balance at 30 June 2024 4 743,725 81,344

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - continued
FOR THE YEAR ENDED 30 JUNE 2024

Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 April 2022 2,227,695 3,035,701 5,263,396
Prior year adjustment 60,246 - 60,246
As restated 2,287,941 3,035,701 5,323,642

Changes in equity
Issue of share capital (198 ) - (198 )
Total comprehensive income (1,483,393 ) 1,149,779 (333,614 )
Balance at 30 June 2023 804,350 4,185,480 4,989,830
Prior year adjustment (19,450 ) - (19,450 )
As restated 784,900 4,185,480 4,970,380

Changes in equity
Issue of share capital 2 - 2
Dividends (41,000 ) - (41,000 )
Total comprehensive income 81,171 673,534 754,705
Balance at 30 June 2024 825,073 4,859,014 5,684,087

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 2 - 2
Total comprehensive income - 1,694,513 1,694,513
Balance at 30 June 2023 2 1,694,513 1,694,515

Changes in equity
Issue of share capital 2 - 2
Dividends - (41,000 ) (41,000 )
Total comprehensive income - 2,799,077 2,799,077
Balance at 30 June 2024 4 4,452,590 4,452,594

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,312,502 3,311,344
Interest paid (1,882,269 ) (3,321,249 )
Interest elements of HP payments (1,808 ) (3,370 )
Tax paid (299,705 ) (574,553 )
Taxation refund - 109,347
Net cash from operating activities 2,128,720 (478,481 )

Cash flows from investing activities
Purchase of tangible fixed assets (952,153 ) (6,533,002 )
Purchase of investment property - (370,311 )
Sale of tangible fixed assets 51,620 463,936
Interest received 17,276 3,311
Net cash from investing activities (883,257 ) (6,436,066 )

Cash flows from financing activities
New loans in period - 18,900,000
Loan repayments in period (831,783 ) (11,562,855 )
Capital repayments in period on HP (12,592 ) (14,631 )
Amount introduced by directors - 225,277
Amount withdrawn by directors (794,287 ) -
Share issue 2 2
Equity dividends paid (41,000 ) -
Net cash from financing activities (1,679,660 ) 7,547,793

(Decrease)/increase in cash and cash equivalents (434,197 ) 633,246
Cash and cash equivalents at beginning
of year

2

1,706,430

1,073,184

Cash and cash equivalents at end of year 2 1,272,233 1,706,430

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Profit/(loss) before taxation 1,154,364 (39,666 )
Depreciation charges 1,205,756 1,378,380
Profit on disposal of fixed assets (32,715 ) (37,877 )
Gain on revaluation of fixed assets (108,458 ) -
Finance costs 1,818,317 3,336,331
Finance income (17,276 ) (3,311 )
4,019,988 4,633,857
Increase in trade and other debtors (90,481 ) (2,310,327 )
Increase in trade and other creditors 382,995 987,814
Cash generated from operations 4,312,502 3,311,344

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 1,272,233 1,706,430
Period ended 30 June 2023
30/6/23 1/4/22
as restated
£    £   
Cash and cash equivalents 1,706,430 1,073,184


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 1,706,430 (434,197 ) 1,272,233
1,706,430 (434,197 ) 1,272,233
Debt
Finance leases (36,546 ) 12,592 (23,954 )
Debts falling due within 1 year (863,447 ) (83,700 ) (947,147 )
Debts falling due after 1 year (24,954,021 ) 915,483 (24,038,538 )
(25,854,014 ) 844,375 (25,009,639 )
Total (24,147,584 ) 410,178 (23,737,406 )

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Luxurycare Holdings Ltd and its subsidiaries 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared using merger accounting where a group reconstruction has occurred. In these circumstances the previous period to 30th June 2023 actually contains the results of the reconstructed group for the 15 months to that date.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of the business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent considerations after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for the final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at at cost less impairment.

Deferred tax is recognised on differences between the value of the assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated financial statements incorporate those of Luxurycare Holdings Limited and all its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All the financial statements are made up to 30th June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealized gains on transactions between group companies are eliminated on consolidation. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. In the group financial statements, joint ventures are accounted for using the equity method.

Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates. In the group financial statements, associates are accounted for using the equity method.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods.

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

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the supply of care services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where payments are received from customers in advance of services provided the amounts are recorded as deferred income and included as part of payables due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Goodwill represents the excess of the cost of acquisition of a business over the fair value of the net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purpose of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Vehicle licence plates are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on buildings and nil on land
Office Equipment - 25% on cost
Plant and machinery - 25% on cost and 20% on reducing balance
Fixtures and fittings - 25% on cost and 15% on reducing balance
Motor vehicles - 33% on cost, 33% on reducing balance, 25% on cost and 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with the provisions of FRS 102 freehold investment buildings are not depreciated.

This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The directors are of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view.

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

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at the market rate of interest. Financial assets are classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair values recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each report end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying value does not exceed what the carrying value would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.





LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. And equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Client revenue 12,550,382 14,857,940
Local authority revenue 8,660,439 9,658,856
21,210,821 24,516,796

4. EMPLOYEES AND DIRECTORS
Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Wages and salaries 11,353,083 11,556,761
Social security costs 1,037,293 1,018,556
Other pension costs 211,851 275,416
12,602,227 12,850,733

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated

Catering 22 18
Maintenance 10 6
Housekeeping 31 21
Care 386 315
Management 22 22
Administration 20 28
Activities 16 9
Support 1 6
508 425

The average number of employees by undertakings that were proportionately consolidated during the year was 508 (2023 - 425 ) .

Key management remuneration for the period was £302,085 (2023 - £324,394).

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Directors' remuneration 65,746 71,460
Directors' pension contributions to money purchase schemes 1,321 1,580

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Hire of plant and machinery 10,173 22,651
Other operating leases 22,880 118,631
Depreciation - owned assets 735,308 816,253
Depreciation - assets on hire purchase contracts 17,448 37,126
Profit on disposal of fixed assets (32,715 ) (37,877 )
Goodwill amortisation 288,000 360,000
Trademarks amortisation 160,000 160,000
Vehicle licence plates amortisation 5,000 5,000
Auditors' remuneration 34,440 36,200
Audit fee for subsidiary
auditors 11,580 13,800
Auditors' remuneration for non audit work 30,640 32,500
Formation costs - 300

6. EXCEPTIONAL ITEMS
Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Exceptional items - (1,758,558 )

The exceptional item relates to rolled up interest charged in the accounting period.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Bank interest 777 1,054
Bank loan interest 1,806,774 1,556,207
Interest on late tax 8,958 17,142
Hire purchase 1,808 3,370
Exceptional items - 1,758,558
1,818,317 3,336,331

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Current tax:
UK corporation tax 373,522 289,301
(Over)/under provision (1 ) -
Total current tax 373,521 289,301

Deferred tax 26,138 24,097
Tax on profit/(loss) 399,659 313,398

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1/4/22
Year Ended to
30/6/24 30/6/23
as restated
£    £   
Profit/(loss) before tax 1,154,364 (39,666 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 25 %)

288,591

(9,917

)

Effects of:
Expenses not deductible for tax purposes 18,298 18,696
Depreciation in excess of capital allowances 248,310 240,424
Utilisation of tax losses (155,540 ) -
capital allowances
Due to changes in tax rates - 64,195
Total tax charge 399,659 313,398

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS

Dividends of £41,000 were paid during the year (2023 £Nil).

11. PRIOR YEAR ADJUSTMENT

The individual accounts of a subsidiary has been restated as stamp duty land tax dating back to 2017 had not been previously disclosed. The subsequent interest on late payment and depreciation resulted in material misstatement in the individual financial statements of this subsidiary.

The effect of this restatement is that profits for the previous period have been reduced by £19,450 and retained earning brought forward in the previous period have been reduced by £93,354. There has been no effect on the tax charge as a result of the adjustment.

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


12. INTANGIBLE FIXED ASSETS

Group
Vehicle
licence
Goodwill Trademarks plates Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 3,128,046 1,600,000 50,000 4,778,046
AMORTISATION
At 1 July 2023 2,280,000 1,013,333 5,417 3,298,750
Amortisation for year 288,000 160,000 5,000 453,000
At 30 June 2024 2,568,000 1,173,333 10,417 3,751,750
NET BOOK VALUE
At 30 June 2024 560,046 426,667 39,583 1,026,296
At 30 June 2023 848,046 586,667 44,583 1,479,296

Company
Vehicle
licence
Trademarks plates Totals
£    £    £   
COST
Additions 586,667 44,583 631,250
At 30 June 2024 586,667 44,583 631,250
AMORTISATION
Amortisation for year 160,000 5,000 165,000
At 30 June 2024 160,000 5,000 165,000
NET BOOK VALUE
At 30 June 2024 426,667 39,583 466,250

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


13. TANGIBLE FIXED ASSETS

Group
Freehold Office Plant and
property Equipment machinery
£    £    £   
COST
At 1 July 2023 28,517,764 7,606 83,866
Additions - - 327,005
Disposals - - -
At 30 June 2024 28,517,764 7,606 410,871
DEPRECIATION
At 1 July 2023 3,419,843 5,729 35,771
Charge for year 413,920 1,641 20,756
Eliminated on disposal - - -
At 30 June 2024 3,833,763 7,370 56,527
NET BOOK VALUE
At 30 June 2024 24,684,001 236 354,344
At 30 June 2023 25,097,921 1,877 48,095

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


13. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 1,317,874 649,431 45,538 30,622,079
Additions 70,953 255,613 19,082 672,653
Disposals (20,526 ) - (18,622 ) (39,148 )
At 30 June 2024 1,368,301 905,044 45,998 31,255,584
DEPRECIATION
At 1 July 2023 599,951 265,704 33,600 4,360,598
Charge for year 118,876 189,506 8,057 752,756
Eliminated on disposal (11,047 ) - (9,196 ) (20,243 )
At 30 June 2024 707,780 455,210 32,461 5,093,111
NET BOOK VALUE
At 30 June 2024 660,521 449,834 13,537 26,162,473
At 30 June 2023 717,923 383,727 11,938 26,261,481

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 90,000
DEPRECIATION
At 1 July 2023 37,126
Charge for year 17,448
At 30 June 2024 54,574
NET BOOK VALUE
At 30 June 2024 35,426
At 30 June 2023 52,874

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


13. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
Additions 9,479 530,856 9,426 549,761
At 30 June 2024 9,479 530,856 9,426 549,761
DEPRECIATION
Charge for year 4,684 127,745 3,649 136,078
At 30 June 2024 4,684 127,745 3,649 136,078
NET BOOK VALUE
At 30 June 2024 4,795 403,111 5,777 413,683

14. FIXED ASSET INVESTMENTS

Subsidiaries
Details of the company's subsidiaries at
30 June 2024 are as follows


Name of Undertaking

Address
Class of
Shares held

Direct %

Indirect %
Luxurycare (Aranlaw House Care Home)
Limited

UK
Ordinary and
Ordinary A

0

100.00
Luxurycare (Eagles Mount Green
Community) Limited

UK

Ordinary

0

100.00
Luxurycare Investments Limited UK Ordinary 100.00 0
ARNLUX Limited UK Ordinary 0 100.00
Birds Hill Nursing Home Limited UK Ordinary 0 100.00
RMLUX Limited UK Ordinary 0 100.00
Luxurycare (Regency Manor Care Home)
Limited

UK

Ordinary

0

100.00
Luxurycare (Kingsman House Care
Home) Limited

UK

Ordinary

0

100.00
Luxurycare Kingsman House Limited UK Ordinary 0 100.00
Luxurycare Eagles Mount Ltd UK Ordinary 0 100.00
Luxurycare Aranlaw House Limited UK Ordinary 0 100.00
Luxurycare Regency Manor Limited UK Ordinary 0 100.00
Gunputh Family Office Limited UK Ordinary 0 100.00
Branksome Park Care Centre Limited UK A Ordinary 0 100.00
Luxurycare Group Limited UK Ordinary 100.00 0

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023 1,031,542
Revaluations 108,458
At 30 June 2024 1,140,000
NET BOOK VALUE
At 30 June 2024 1,140,000
At 30 June 2023 1,031,542

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 108,458
Cost 1,031,542
1,140,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
as restated
£    £   
Cost 1,031,542 1,031,542

Investment property was valued on an open market basis on 30 June 2024 by the directors .

16. STOCKS

Group
2024 2023
as restated
£    £   
Stocks 10,500 10,500

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Trade debtors 1,391,952 1,352,905 - -
Amounts owed by group undertakings - - 5,555,542 12,351,585
Other debtors 3,145,950 3,275,831 2,891,269 3,181,621
Corporation tax 4,655 - - -
Prepayments and accrued income 450,770 269,455 200,000 -
4,993,327 4,898,191 8,646,811 15,533,206

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Bank loans and overdrafts (see note 20) 947,147 863,447 - -
Hire purchase contracts (see note 21) 13,381 12,592 - -
Trade creditors 812,120 732,374 - -
Amounts owed to group undertakings - - 4,070,268 13,252,300
Corporation tax 367,772 289,301 - -
Social security and other taxes 277,604 613,720 - -
Other creditors 1,440,772 1,220,354 999,267 -
Wages control 151 151 - -
Directors' current accounts 340,928 1,135,215 - 581,890
Accruals and deferred income 573,874 500,187 4,919 4,803
4,773,749 5,367,341 5,074,454 13,838,993

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group
2024 2023
as restated
£    £   
Bank loans (see note 20) 24,038,538 24,954,021
Hire purchase contracts (see note 21) 10,573 23,954
24,049,111 24,977,975

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


20. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 947,147 863,447
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,531,679 1,395,391
Amounts falling due between two and five years:
Bank loans - 2-5 years 7,068,529 7,229,544
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 15,438,330 16,329,086

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


21. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
as restated
£    £   
Gross obligations repayable:
Within one year 14,400 14,400
Between one and five years 10,820 25,220
25,220 39,620

Finance charges repayable:
Within one year 1,019 1,808
Between one and five years 247 1,266
1,266 3,074

Net obligations repayable:
Within one year 13,381 12,592
Between one and five years 10,573 23,954
23,954 36,546

Group
Non-cancellable operating leases
2024 2023
as restated
£    £   
Within one year - 23,660

LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


22. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
as restated
£    £   
Bank loans 24,985,685 25,817,468
Hire purchase contracts 23,954 36,546
25,009,639 25,854,014

The loans are secured on the assets of the group.

23. PROVISIONS FOR LIABILITIES

Group
2024 2023
as restated
£    £   
Deferred tax 97,882 71,744

Group
Deferred
tax
£   
Balance at 1 July 2023 71,744
Provided during year 26,138
Balance at 30 June 2024 97,882

24. CALLED UP SHARE CAPITAL

Ordinary share capital

Number £   
A Ordinary shares of 1p 204 2.04
B Ordinary shares of 1p 100 1.00
C Ordinary shares of 1p 92 0.92
D Ordinary shares of 1p 4 0.04


LUXURYCARE HOLDINGS LTD AND
ITS SUBSIDIARIES (REGISTERED NUMBER: 14215331)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


25. CONTINGENT LIABILITIES

Branksome Park Care Centre Limited have guaranteed the borrowings of the Partnership of Branksome Park Nursing Home. The maximum exposure in respect of the partnership's borrowings as at 30 June 2024 totals £776,290 (2023 - 892,851).

The group has cross guarantees in place in support of a bank loan taken out in Luxurycare (Seabourne House Care Home) Limited. The value of the loan at 30 June 2024 was £1,561,429 (2023 - £1,650,000).

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K R Gunputh.