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Registered number: 03233854
Absolute Care Homes (Central) Limited
Strategic Report, Director's Report and
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Strategic Report 1
Director's Report 2
Independent Auditor's Report 3—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—17
Page 1
Strategic Report
The director presents his strategic report for the year ended 30 April 2024.
Review of the Business
A summary of the results for the year is given on page 8 of the financial statements.
The company's principal trade is the operation of a care home. In respect of its trading activities as a care home during the year ended 30 April 2024 fees received increased by £548,968, an increase of 9.5% from the previous year.
Throughout the year, cost control has been manageable with some cost rises being met with efficiencies in other areas. The company has been able to utilise the rises in inflation to generate higher returns on the cash held within the business. As a result, profit before tax for the year increased up to 41.9% for the year compared to 27.4% in the previous year.
A profitable trading year has transferred into another strong closing balance sheet at the year end date with overall net assets rising by £1,975,597 year on year. The complexion of these net assets largely remains the same with the repayment of related party debtors bolstering the high cash levels shown on the closing balance sheet.
We believe this strong balance sheet will provide the business with a good platform to move forward and continue to trade as a going concern despite fears of further rising costs and inflation.
Principal Risks and Uncertainties
High quality care and high quality general health and safety standards need to be maintained to ensure the Company mitigates risks and uncertainties and continues to be successful. It is the Company's aim to continue to meet and exceed statutory requirements through rigorous monitoring procedures and careful vetting and training of staff.
Continued uncertainty surrounding instability in the UK economy and the ongoing effect of overseas wars on international supply chains is an aspect which is unlikely to have a direct effect on the Company's ability to raise finance.
Despite the significant changes to the care industry since the COVID-19 pandemic, these changes have had a big impact on how the care home operates but little impact on the ability for the Company to continue as a going concern.
Financial Instruments
Objectives and policies
The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for, and to finance, the Company's operations.
Price risk, credit risk, liquidity risk and cash flow risk
Due to the nature of the financial instruments used by the company there is no exposure to price risk. The Company's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances and bank loans the liquidity risk is managed by maintaining positive bank balances and ensuring loan repayments are met and covenants are not breached.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning each resident in the Company's care and each debt owed and the regular monitoring of amounts outstanding for both time and credit allowed.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
On behalf of the board
Dr M S Pawar
Director
31 March 2025
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 30 April 2024.
Principal Activity
The company's principal activity continues to be that of property development and the provision of health care for the elderly.
Directors
The director who held office during the year were as follows:
Dr M S Pawar
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.
Statement of Director's Responsibilities
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director 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 of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Director's Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditors, Nuvo Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Dr M S Pawar
Director
31 March 2025
Page 2
Page 3
Independent Auditor's Report
Opinion
We have audited the financial statements of Absolute Care Homes (Central) Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit/(loss) 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 director's 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 entity's ability to continue as a going concern for a period of at least 12 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.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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 Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.
Page 3
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Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of director's 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 Director's Responsibilities Statement set out on page 2, the director is 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 director determine is 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 director is responsible for assessing the 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 company or to cease operations, or have no realistic alternative but to do so.
Page 4
Page 5
Auditor's 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 an auditor's report 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: 
Based on our knowledge and understanding of the Company and industry, we identified that the key risk of fraud or non-compliance with laws and regulations related to:
  • Management bias in respect of accounting estimates and judgements made.
  • Management override of control.
  • Posting of unusual journals or transactions.
  • Non-compliance with CQC regulations.
We focused on those areas that could give rise to a material misstatement in the Company financial statements. Our procedures included but were not limited to:
  • Enquiring of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud.
  • Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud.
  • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
  • Performing audit work over the risk of management override of controls including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business.
  • Performing analytical procedures to identify any unusual or unexpected relationships that may indicate an increased risk of material misstatement as a result of fraud, or management override.
  • Assessing accounting estimates which have a material impact of the year end accounts, to determine if there is indication of management bias.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Our audit did not identify any key audit matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that we are required to state to them in an auditor's report 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.
Page 5
Page 6
Mr Daniel Johnson FCCA (Senior Statutory Auditor)
for and on behalf of Nuvo Audit Limited , Statutory Auditor
31 March 2025
Nuvo Audit Limited
7 Faraday Court
First Avenue
Burton on Trent
Staffordshire
DE14 2WX
Page 6
Page 7
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 6,317,133 5,768,165
Cost of sales (3,468,952 ) (3,399,681 )
GROSS PROFIT 2,848,181 2,368,484
Administrative expenses (515,513 ) (777,138 )
Other operating income 14,760 -
OPERATING PROFIT 3 2,347,428 1,591,346
Loss on disposal of fixed assets - (2,748 )
Other interest receivable and similar income 8 296,361 13,631
Interest payable and similar charges 9 - (21,371 )
PROFIT BEFORE TAXATION 2,643,789 1,580,858
Tax on Profit 10 (668,192 ) (327,609 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 1,975,597 1,253,249
The notes on pages 12 to 17 form part of these financial statements.
Page 7
Page 8
Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 1,975,597 1,253,249
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,975,597 1,253,249
Page 8
Page 9
Balance Sheet
Registered number: 03233854
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 11 3,378,642 3,389,386
3,378,642 3,389,386
CURRENT ASSETS
Stocks 12 1,500 1,246
Debtors 13 4,727,101 7,532,861
Cash at bank and in hand 10,792,704 5,818,063
15,521,305 13,352,170
Creditors: Amounts Falling Due Within One Year 14 (801,726 ) (659,784 )
NET CURRENT ASSETS (LIABILITIES) 14,719,579 12,692,386
TOTAL ASSETS LESS CURRENT LIABILITIES 18,098,221 16,081,772
PROVISIONS FOR LIABILITIES
Deferred Taxation (84,359 ) (43,507 )
NET ASSETS 18,013,862 16,038,265
CAPITAL AND RESERVES
Called up share capital 16 225,000 225,000
Profit and Loss Account 17,788,862 15,813,265
SHAREHOLDERS' FUNDS 18,013,862 16,038,265
On behalf of the board
Dr M S Pawar
Director
31 March 2025
The notes on pages 12 to 17 form part of these financial statements.
Page 9
Page 10
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 May 2022 225,000 14,560,016 14,785,016
Profit for the year and total comprehensive income - 1,253,249 1,253,249
As at 30 April 2023 and 1 May 2023 225,000 15,813,265 16,038,265
Profit for the year and total comprehensive income - 1,975,597 1,975,597
As at 30 April 2024 225,000 17,788,862 18,013,862
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 2,137,706 1,859,756
Interest paid - (21,371 )
Tax paid (427,790 ) (864,251 )
Net cash generated from operating activities 1,709,916 974,134
Cash flows from investing activities
Purchase of tangible assets (44,602 ) (13,503 )
Proceeds from disposal of tangible assets - 620
Grants received 14,449 -
Interest received 296,361 13,631
Amounts received from associated companies 2,998,517 111,692
Net cash generated from investing activities 3,264,725 112,440
Increase in cash and cash equivalents 4,974,641 1,086,574
Cash and cash equivalents at beginning of year 2 5,818,063 4,731,489
Cash and cash equivalents at end of year 2 10,792,704 5,818,063
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 1,975,597 1,253,249
Adjustments for:
Tax on profit 668,192 327,609
Interest expense - 21,371
Interest income (296,361 ) (13,631 )
Depreciation of tangible assets 55,346 52,948
Loss on disposal of tangible assets - 2,748
Grant income (14,449) -
Movements in working capital:
Increase in stocks (254 ) -
(Increase)/decrease in trade and other debtors (192,757 ) 80,925
(Decrease)/increase in trade and other creditors (57,608 ) 134,537
Net cash generated from operations 2,137,706 1,859,756
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 10,792,704 5,818,063
3. Analysis of changes in net funds
As at 1 May 2023 Cash flows As at 30 April 2024
£ £ £
Cash at bank and in hand 5,818,063 4,974,641 10,792,704
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Notes to the Financial Statements
1. General Information
Absolute Care Homes (Central) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03233854 . The registered office is The Willows, Ransom Wood Business Park, Southwell Road West, Rainworth, Mansfield, Nottinghamshire, NG21 0HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and 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 Company's financial statements are presented in sterling and all values are rounded to the nearest pound.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company's activities. Turnover is shown net of sales/value added taxes, rebates and discounts. Turnover is recognised on a daily basis when the service and care have been received by the resident. These services are invoiced on a periodic basis. Turnover received in advance is treated as deferred income and recognised as income in future trading periods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 1% straight line basis (from commencement of use)
Plant & Machinery 20% reducing balance basis
Motor Vehicles 20% reducing balance basis
Fixtures & Fittings 15% reducing balance basis
The Freehold category above reflects the depreciation method of the Freehold Property held within that category. Freehold land is not depreciated.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Share capital
Ordinary shares are classified as equity. Equity instruments are measured at fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets 55,346 52,948
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 12,000 6,000
Other Services
Other assurance services - 36,600
Other non-audit services 18,816 18,376
18,816 54,976
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5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 2,740,410 2,398,820
Social security costs 223,433 192,025
Other pension costs 170,684 367,109
3,134,527 2,957,954
6. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Direct staff 126 117
Management 4 4
130 121
7. Director's remuneration
2024 2023
£ £
Company contributions to money purchase pension schemes 60,000 160,000
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
Money purchase pension schemes 1 1
8. Interest Receivable and Similar Income
2024 2023
£ £
Interest on short term deposits 296,361 13,631
9. Interest Payable and Similar Charges
2024 2023
£ £
Other finance charges - 21,371
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10. Tax on Profit
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax
UK Corporation Tax 627,340 322,215
Deferred Tax
Accelerated capital allowances. 40,852 5,394
Total tax charge for the period 668,192 327,609
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 2,643,789 1,580,858
Tax on profit at 25% (UK standard rate) 660,947 308,267
Expenses not deductible for tax purposes 7,245 9,031
Capital allowances - 5,075
Changes in tax provisions due to legislation - 5,236
Total tax charge for the period 668,192 327,609
11. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 3,608,143 106,051 458,492 4,172,686
Additions - 3,165 41,437 44,602
As at 30 April 2024 3,608,143 109,216 499,929 4,217,288
Depreciation
As at 1 May 2023 348,303 93,169 341,828 783,300
Provided during the period 30,184 3,035 22,127 55,346
As at 30 April 2024 378,487 96,204 363,955 838,646
Net Book Value
As at 30 April 2024 3,229,656 13,012 135,974 3,378,642
As at 1 May 2023 3,259,840 12,882 116,664 3,389,386
12. Stocks
2024 2023
£ £
Stock 1,500 1,246
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13. Debtors
2024 2023
£ £
Due within one year
Trade debtors 654,209 609,871
Prepayments and accrued income 171,175 22,756
Amounts owed by associated companies 3,901,717 6,900,234
4,727,101 7,532,861
14. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 42,705 109,040
Other creditors 10,896 34,504
Corporation tax 345,055 145,505
Taxation and social security 53,858 53,706
Accruals and deferred income 349,212 317,029
801,726 659,784
15. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 43,507 43,507
Accelerated capital allowances. 40,852 40,852
Balance at 30 April 2024 84,359 84,359
16. Share Capital
2024 2023
Allotted, called up and fully paid £ £
225,000 Ordinary Shares of £ 1.00 each 225,000 225,000
17. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £170,864 (2023: £207,109).
At the balance sheet date contributions of £3,864 (2023: £4,348) were due to the fund and are included in creditors.
18. Related Party Disclosures
During the year, the Company transferred loan balances of £1,717 (2023:£516,430) to and received repayment of loans of £3,000,000 (2023: £479,057) from companies under common control.
During the year, the Company provided funding of £Nil (2023: £1,600,025) to companies under common control. During the year, the Company received funding of £Nil (2023: £1,749,000) from companies under common control.
Included within debtors at 30 April 2024 is £3,901,717 (2023: £6,900,234) which is due from companies under common control. All amounts due are interest free and repayable on demand.
19. Controlling Parties
The company's ultimate controlling party is Dr M S Pawar .
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