Registered number
13246900
Affinity Care Consortium Limited
Filleted Accounts
31 October 2024
Affinity Care Consortium Limited
Registered number: 13246900
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,233,381 5,165,509
Current assets
Stocks 9,873 3,786
Debtors 4 465,493 436,922
Cash at bank and in hand 786,882 160,297
1,262,248 601,005
Creditors: amounts falling due within one year 5 (560,927) (254,747)
Net current assets 701,321 346,258
Total assets less current liabilities 7,934,702 5,511,767
Creditors: amounts falling due after more than one year 6 (6,828,314) (5,091,481)
Net assets 1,106,388 420,286
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,105,388 419,286
Shareholders' funds 1,106,388 420,286
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Younas
Director
Approved by the board on 9 April 2025
Affinity Care Consortium Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings None
Leasehold land and buildings None
Motor vehicle None
Fixtures, fittings, tools and equipment 18% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 242 192
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
@ cost 5,113,498 73,329 5,186,827
Cost - additions 2,077,234 - 2,077,234
At 31 October 2024 7,190,732 73,329 7,264,061
Depreciation
At 1 November 2023 - 21,318 21,318
Charge for the year - 9,362 9,362
At 31 October 2024 - 30,680 30,680
Net book value
At 31 October 2024 7,190,732 42,649 7,233,381
At 31 October 2023 5,113,498 52,011 5,165,509
Initially, Land & buildings have been capitalised at cost price of £7,190,732 including the stamp
duty land tax. No depreciation has been charged over the reporting period.
However, in the opinion of the directors, the closing net book value of freehold land and buildings
is an accurate reflection of market value as at 31 October 2024.
4 Debtors 2024 2023
£ £
Trade debtors 317,682 324,112
Other debtors 147,811 112,810
465,493 436,922
Trade Debtors - the amount of £317,682 (2023 - £324,112) representing the outstanding fees
from residents.
Other Debtors - Included in these debtors are the amounts £147,811(2023-£112,810)-representing
the amount owed by group undertaknings and undertaking in which the company or shareholders
have a participating interest.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 420,744 212,026
Taxation and social security costs 132,683 38,221
Other creditors & accrued expenses 7,500 4,500
560,927 254,747
Other Creditors - Included in these creditors are the amounts £7,500 (2023 - £4,500)
representing the amount due to accountancy fees.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,689,514 2,574,681
Other creditors 3,138,800 2,516,800
6,828,314 5,091,481
Bank loan - the bank loan is secured by way of debenture and legal charges over the property
owned by the company.
Other Creditors - Included in these creditors are the amounts £2,818,800 representing the amount
due to the "National Care Consortium Ltd" in which the shareholders has a participating interest,
shares and control (detail is available at registered office). £320,000 are the amount representing
the inter company & shareholders' loan (same as above).
7 Other information
Affinity Care Consortium Limited is a private company limited by shares and incorporated in England. Its registered office is:
Younas House
1 Pelham Court
Pehlam Road
Nottingham
NG5 1AP
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