Company registration number 00723564 (England and Wales)
PREMIERE CARE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PREMIERE CARE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PREMIERE CARE HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
11,188
11,188
Tangible assets
5
2,225,978
3,224,170
Investments
6
100
200
2,237,266
3,235,558
Current assets
Debtors
7
290,029
261,322
Cash at bank and in hand
57,701
1,615
347,730
262,937
Creditors: amounts falling due within one year
8
(322,880)
(2,262,244)
Net current assets/(liabilities)
24,850
(1,999,307)
Total assets less current liabilities
2,262,116
1,236,251
Provisions for liabilities
(215,946)
(368,657)
Net assets
2,046,170
867,594
Capital and reserves
Called up share capital
1,002
1,002
Revaluation reserve
9
1,020,461
1,665,560
Profit and loss reserves
1,024,707
(798,968)
Total equity
2,046,170
867,594

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

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

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:
S M Cole
Director
Company Registration No. 00723564
PREMIERE CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Premiere Care Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

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

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

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets represent website development costs and will be amortised once the website has been completed

Amortisation 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:

Website development
Nil
1.3
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:

Land and buildings Freehold
2% on cost
Fixtures, fittings & equipment
25% 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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

 

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

PREMIERE CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Financial instruments

The company 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.

 

 

1.6
Equity instruments

Equity instruments issued by the company 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 company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PREMIERE CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
4
Intangible fixed assets
Website development
£
Cost
At 1 April 2023 and 31 March 2024
11,188
Amortisation and impairment
At 1 April 2023 and 31 March 2024
-
0
Carrying amount
At 31 March 2024
11,188
At 31 March 2023
11,188
5
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 April 2023
3,202,644
908,097
4,110,741
Additions
57,450
-
0
57,450
Disposals
(1,000,000)
(443,184)
(1,443,184)
At 31 March 2024
2,260,094
464,913
2,725,007
Depreciation and impairment
At 1 April 2023
-
0
886,571
886,571
Depreciation charged in the year
45,104
3,895
48,999
Eliminated in respect of disposals
-
0
(436,541)
(436,541)
At 31 March 2024
45,104
453,925
499,029
Carrying amount
At 31 March 2024
2,214,990
10,988
2,225,978
At 31 March 2023
3,202,644
21,526
3,224,170
PREMIERE CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Tangible fixed assets
(Continued)
- 5 -

Land and buildings were valued in November 2022 by a professional valuer. The directors do not feel the fair value changed between this date and 31 March 2024.

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
200
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023
200
Disposals
(100)
At 31 March 2024
100
Carrying amount
At 31 March 2024
100
At 31 March 2023
200

On 27 November 2023 the company sold the trade and assets relating to 'The Willows' to it's subsidiary, which was sold on the same date.

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,514
4,514
Other debtors
232,119
232,119
236,633
236,633
Deferred tax asset
53,396
24,689
290,029
261,322
PREMIERE CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
1,291,764
Trade creditors
4,177
92,833
Amounts owed to group undertakings
48,576
610,116
Taxation and social security
266,823
264,128
Other creditors
3,304
3,403
322,880
2,262,244

 

9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
1,665,560
-
0
Revaluation surplus arising in the year
-
0
1,665,560
Deferred tax on revaluation of tangible assets
125,135
-
Other movements
(770,234)
-
At the end of the year
1,020,461
1,665,560
10
Related party transactions

During the year dividends were also paid to S Cole of £192,804 (2023 - £53,425), a Director.

11
Directors' transactions

Loans made during the year to 31 March 2022 were made to the following directors. The loan has not yet been repaid. Interest will be charged up to the date of repayment.

 

Description
% Rate
Opening balance
Closing balance
£
£
S M Cole - Loan
-
110,184
110,184
110,184
110,184
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