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REGISTERED NUMBER: 03658581 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

ESTEEM CARE LTD

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 11

Other Comprehensive Income 12

Balance Sheet 13

Statement of Changes in Equity 15

Cash Flow Statement 16

Notes to the Cash Flow Statement 17

Notes to the Financial Statements 18


ESTEEM CARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr N B Suresparan
Mrs V Suresparan





REGISTERED OFFICE: 5 Oakleigh Road
Pinner
Middlesex
HA5 4HB





REGISTERED NUMBER: 03658581 (England and Wales)





AUDITORS: Param & Company Ltd
Chartered Certified Accountants
Statutory Auditors
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

The directors present their strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
The government and local authorities have started paying greater attention towards the adult Social Care costs and has allowed a 2% increase on council tax which enables the council to increase fee levels. Fee increases of over 3.5% have been announced by some of the councils we contract with for the year commencing April 2024. Government has allocated additional money to the local councils from the better care funds.

The cost for provision of care has continued to rise with minimum wage legislation and extra regulatory requirements, and the need to attract and retain quality staff at all levels. Nursing shortage is acute nationally and has a bearing on wage costs. The company policy has been to continually invest in the fabric of the building, purchase new equipment and invest in staff training to improve standards of care.

The directors are very pleased with the progress that the company has made this year. All of the care homes run by the company are operating at near maximum capacity, with an average occupancy rate of 96% (2023:90%).

Key performance indicators

2024 2023
Revenue £4,136,664 £3,532,580
Gross profit £1,360,119 £1,128,874
Gross profit margin 32.88% 31.95%
Profit before tax £664,208 £537,854

Other Key performance indicators measured by the company include the wages to turnover rate, which is 66% (2023 :67%),and the Gross Profit Margin, which is 33% (2023 : 32%).

The management of net assets is key to monitoring the performance of the company. As at 31 July 2024, net assets stand at £6.2 million (2023: £5.8 million ).

Food costs

The third largest cost for care home operators is the food bill, the directors managed to keep the food bill at the same level as the year ended in July 2023.

Despite the challenges the company has performed well.

Going concern

The directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the directors continually review the company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the company would not be able to continue successfully as a going concern in the future.

STRATEGY
The board will continue to keep costs under control and develop existing income streams. New opportunities will continue to be sought where these will make a return for the company.


ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Despite funding increases, and increase in the elderly population the sector faces financial strains and is also faced with a constant barrage of regulatory charges.

The majority of placements are from local councils which makes them a bulk purchaser of our services and therefore weakens our position with fee negotiations. This is balanced by an ever greater demand for beds and the pressure on the councils to vacate hospital beds increasingly, nursing homes are looking after very heavily dependent residents or residents who require short term care and this increases the risk of accidents and potential claims.

Esteem Care Ltd, like all businesses, faces a number of operating risks and uncertainties. The most fundamental issues faced by the company are:
- meeting bank covenants of the parent company.
- maximising occupancy levels;
- complying with the stringent regulations of the Care Quality Commission under which Care Homes operate;
- achieving quality standards; and
- attracting and retaining high quality qualified and other staff.

The cost for provision of care has continued to rise with minimum wage legislation and extra regulatory requirements, and the need to attract and retain quality staff at all levels. Nursing shortage is acute nationally and has a bearing on wage costs. The company policy has been to continually invest in the fabric of the building, purchase new equipment and invest in staff training to improve standards of care.

The Company monitors the performance on a monthly and quarterly basis in order to achieve the required covenants for the banks. The required quality control to satisfy the CQC is monitored by the company management on a regular basis.


ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

RISK OF BUSINESS INTERRUPTION
The recent interruption caused by the COVID-19 pandemic has also provided the company with a present and future risk to consider. The company has taken all steps possible to ensure the safety of our employees whilst working hard to develop processes that ensure the business has the financial resilience to prosper through this difficult period. At present we continue to follow government guidelines and operate cautiously in the wake of an ever evolving economic landscape. The group's financial performance will inevitably be impacted by the crisis during 2020 and beyond. Despite the challenges the company has faced throughout the COVID-19 pandemic, we feel we are in a good position to maximise the opportunity that will inevitably materialise through the growth of the economy.

Inflation including energy costs, staff & agency costs

The spike in inflation since mid-2022 has resulted in a marked increase in core cost for Tudor Bank Ltd. Whilst this increase levelled out in the latter part of the financial year since year end, wage-related costs have generally remained high.

Tudor Bank Ltd were able to implement pay-rises, both during the financial year and post year-end. All staff are paid at or above 'Real living Wage'. The strong fee income and steady increase in occupancy enabled the directors to award above inflation pay increases, whilst remaining profitable and continuing to have good cash flow.

Tudor Bank Ltd produces monthly management accounts to monitor spending and have robust budgetary controls, allowing decisions to be made above which spends are necessary and which can wait until a later time, while maintaining the high standards for which the company is known. Good quality food and other products will continue to be brought and the directors are confident that the very strong balance sheet and income statement positions will allow this to remain the same.

Energy efficiency has been a focus to Tudor Bank Ltd for many years; for environmental purposes, as well as cost. Therefore, investments has already occurred and continues in energy-efficient products, such as photovoltaic cells and LED lights. As well as having an environmental benefit, the efficient technology has allowed us to consider and monitor our cost, without causing a detrimental impact to our residents or staff. Whilst there was sizable increase in cost in recent years, some of this has been netted off by energy produced by the solar panels and company is in such strong position that any decreases in profit that might be a result of the increases will not have a significant impact on cash flow nor will it cause the company to cease being profitable.

Overall

Given the good cash flow, retained profits, and positive balance sheet position, the directors are confident that all actions taken have kept the business in good stead and feel assured that this will continue into the future. The Directors of the Tudor Bank Ltd reassured that the business is in a very strong position.

CONCLUSION
Esteem Care Ltd is considered to have sufficient financial resources, as a consequence the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

ON BEHALF OF THE BOARD:





Mr N B Suresparan - Director


29 April 2025

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Residential nursing care facilities.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £150 per share.

The total distribution of dividends for the year ended 31 July 2024 will be £ 150,000 .

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

Mr N B Suresparan
Mrs V Suresparan

POLITICAL DONATIONS AND EXPENDITURE
No political donations.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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;
-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 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. They are 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 directors are responsible for the maintenance and integrity of the coporate and financial information included on the company website. Legislation in the United Kingdom, governing the preparation and dissemination of the financial statements, may differ from legislation in other jurisdictions.

Strategic Report
The company has chosen in accordance with the Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments, research & development and financial instruments.

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 company'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 company's auditors are aware of that information.

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2024


AUDITORS
The auditors, Param & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr N B Suresparan - Director


29 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ESTEEM CARE LTD

Opinion
We have audited the financial statements of Esteem Care Ltd (the 'company') for the year ended 31 July 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 July 2024 and of its 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 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 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 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ESTEEM CARE LTD


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 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, 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 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 five, 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 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.

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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

* the engagement partner ensured that the engagement team collectively had the appropriate competence,capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

* we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of care home sector.

* we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

* we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ESTEEM CARE LTD


* identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

* making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

* considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

* performed analytical procedures to identify any unusual or unexpected relationships;

*tested journal entries to identify unusual transactions;

*assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

*investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

*agreeing financial statement disclosures to underlying supporting documentation;

*reading the minutes of meetings of those charged with governance;

*enquiring of management as to actual and potential litigation and claims; and

*reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ESTEEM CARE LTD


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.




S Paramaguru (Senior Statutory Auditor)
for and on behalf of Param & Company Ltd
Chartered Certified Accountants
Statutory Auditors
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

29 April 2025

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

TURNOVER 4,136,664 3,532,580

Cost of sales 2,776,545 2,403,706
GROSS PROFIT 1,360,119 1,128,874

Administrative expenses 695,911 597,559
664,208 531,315

Other operating income - 6,539
OPERATING PROFIT and
PROFIT BEFORE TAXATION 664,208 537,854

Tax on profit 6 124,419 47,308
PROFIT FOR THE FINANCIAL YEAR 539,789 490,546

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 539,789 490,546


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

539,789

490,546

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 3,774,656 3,827,951

CURRENT ASSETS
Stocks 9 4,450 3,800
Debtors 10 3,334,172 2,937,763
Cash at bank and in hand 7,689 44,551
3,346,311 2,986,114
CREDITORS
Amounts falling due within one year 11 758,107 846,979
NET CURRENT ASSETS 2,588,204 2,139,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,362,860

5,967,086

PROVISIONS FOR LIABILITIES 12 137,400 131,415
NET ASSETS 6,225,460 5,835,671

CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Retained earnings 14 6,224,460 5,834,671
SHAREHOLDERS' FUNDS 6,225,460 5,835,671

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

BALANCE SHEET - continued
31 JULY 2024



The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Mr N B Suresparan - Director


ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 1,000 5,494,125 5,495,125

Changes in equity
Dividends - (150,000 ) (150,000 )
Total comprehensive income - 490,546 490,546
Balance at 31 July 2023 1,000 5,834,671 5,835,671

Changes in equity
Dividends - (150,000 ) (150,000 )
Total comprehensive income - 539,789 539,789
Balance at 31 July 2024 1,000 6,224,460 6,225,460

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 847,841 468,275
Tax paid (6,271 ) -
Net cash from operating activities 841,570 468,275

Cash flows from investing activities
Purchase of tangible fixed assets (93,441 ) (117,009 )
Net cash from investing activities (93,441 ) (117,009 )

Cash flows from financing activities
Amount paid to group and associates (634,991 ) (190,152 )
Equity dividends paid (150,000 ) (150,000 )
Net cash from financing activities (784,991 ) (340,152 )

(Decrease)/increase in cash and cash equivalents (36,862 ) 11,114
Cash and cash equivalents at beginning of
year

2

44,551

33,437

Cash and cash equivalents at end of year 2 7,689 44,551

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 664,208 537,854
Depreciation charges 146,735 143,527
810,943 681,381
Increase in stocks (650 ) (580 )
Decrease/(increase) in trade and other debtors 90,558 (384,285 )
(Decrease)/increase in trade and other creditors (53,010 ) 171,759
Cash generated from operations 847,841 468,275

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 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 7,689 44,551
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 44,551 33,437


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 44,551 (36,862 ) 7,689
44,551 (36,862 ) 7,689
Total 44,551 (36,862 ) 7,689

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Esteem Care Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have significant effect on the amounts recognised in the financial statements are described below.

* Estimate the useful lives of tangible and intangible assets for depreciation and amortization purposes.

* Determine whether there are indicators of impairment of the company's tangible and intangible assets. Factors taken into consideration in reaching such decision include the economic viability and expected future financial performance of the asset.

Turnover
Turnover represents fee income receivable from care services provided. Turnover is recognised in the year in which the company obtains the right to consideration as the services provided under contracts have been delivered and is recorded at the value of the consideration due. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance

Freehold premises are stated at cost in the balance sheet.
Tangible fixed assets are stated at cost, net of depreciation and any provison for impairment.

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
As set out in the strategic report, the directors believe that the company is experiencing good level of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,177,906 1,735,050
Social security costs 178,630 134,906
Other pension costs 31,122 30,155
2,387,658 1,900,111

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administration 3 3
Care Staff 81 74
84 77

2024 2023
£    £   
Directors' remuneration - 3,500

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 146,736 143,526

5. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

4,163

4,000

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 118,434 6,271

Deferred tax 5,985 41,037
Tax on profit 124,419 47,308

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. TAXATION - continued

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

2024 2023
£    £   
Profit before tax 664,208 537,854
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.005%)

166,052

112,976

Effects of:
Depreciation in excess of capital allowances 13,102 1,829
Deferred tax 5,985 41,037
Utilisation of tax losses - (108,534 )
Group relief (60,720 ) -
Total tax charge 124,419 47,308

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £0.01 each
Final 150,000 150,000

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 August 2023 3,795,286 238,395 782,464 4,816,145
Additions - 27,846 65,595 93,441
At 31 July 2024 3,795,286 266,241 848,059 4,909,586
DEPRECIATION
At 1 August 2023 498,352 98,573 391,269 988,194
Charge for year 75,906 25,151 45,679 146,736
At 31 July 2024 574,258 123,724 436,948 1,134,930
NET BOOK VALUE
At 31 July 2024 3,221,028 142,517 411,111 3,774,656
At 31 July 2023 3,296,934 139,822 391,195 3,827,951

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. STOCKS
2024 2023
£    £   
Finished goods 4,450 3,800

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 444,916 636,508
Amounts owed by group undertakings 1,947,587 1,822,895
Amounts owed by associates 760,446 398,171
Other debtors 136,257 38,758
Prepayments and accrued income 44,966 41,431
3,334,172 2,937,763

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 41,953 75,480
Amounts owed to associates 246,248 394,273
Tax 118,555 6,392
Social security and other taxes 43,509 30,344
Other creditors 14,765 7,916
Accruals and deferred income 293,077 332,574
758,107 846,979

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 137,400 131,415

Deferred
tax
£   
Balance at 1 August 2023 131,415
Provided during year 5,985
Accelerated Capital allowance
Balance at 31 July 2024 137,400

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary £0.01 1,000 1,000

ESTEEM CARE LTD (REGISTERED NUMBER: 03658581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

14. RESERVES
Retained
earnings
£   

At 1 August 2023 5,834,671
Profit for the year 539,789
Dividends (150,000 )
At 31 July 2024 6,224,460

15. RELATED PARTY DISCLOSURES

KPS Care Ltd (Reg No 10722985: England & Wales) is regarded by the directors as being the company's ultimate parent company.

The parent company's accounts are available from the registered address at 5 Oakleigh Road, Pinner, England, HA5 4HB with effective from 8th of April 2025.

16. ULTIMATE CONTROLLING PARTY

The controlling party is Mr N B Suresparan.

17. PRINCIPAL PLACE OF BUSINESS

The address of the company's principal place of business are:

a) Banksfield Nursing Home, 20 Banksfield Avenue, Fulwood, Preston PR2 3RN.
b) Brandon House Nursing Home, Tongue Lane, Leeds LS6 4QD.