Kingsley Healthcare (Holt) Limited 13425636 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is residential care activities for the elderly and disabled. Digita Accounts Production Advanced 6.30.9574.0 true false true 13425636 2023-10-01 2024-09-30 13425636 2024-09-30 13425636 bus:OrdinaryShareClass1 2024-09-30 13425636 core:RetainedEarningsAccumulatedLosses 2024-09-30 13425636 core:ShareCapital 2024-09-30 13425636 core:FinanceLeases core:Non-currentFinancialInstruments 2024-09-30 13425636 core:CurrentFinancialInstruments 2024-09-30 13425636 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13425636 core:Non-currentFinancialInstruments 2024-09-30 13425636 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 13425636 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 13425636 core:FurnitureFittingsToolsEquipment 2024-09-30 13425636 core:LandBuildings 2024-09-30 13425636 core:OtherRelatedParties 2024-09-30 13425636 bus:SmallEntities 2023-10-01 2024-09-30 13425636 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13425636 bus:FilletedAccounts 2023-10-01 2024-09-30 13425636 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13425636 bus:RegisteredOffice 2023-10-01 2024-09-30 13425636 bus:Director1 2023-10-01 2024-09-30 13425636 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 13425636 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13425636 core:ComputerSoftware 2023-10-01 2024-09-30 13425636 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 13425636 core:FurnitureFittings 2023-10-01 2024-09-30 13425636 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 13425636 core:Land 2023-10-01 2024-09-30 13425636 core:LandBuildings 2023-10-01 2024-09-30 13425636 core:OtherRelatedParties 2023-10-01 2024-09-30 13425636 1 2023-10-01 2024-09-30 13425636 countries:EnglandWales 2023-10-01 2024-09-30 13425636 2022-10-01 2023-09-30 13425636 2023-09-30 13425636 bus:OrdinaryShareClass1 2023-09-30 13425636 core:RetainedEarningsAccumulatedLosses 2023-09-30 13425636 core:ShareCapital 2023-09-30 13425636 core:FinanceLeases core:Non-currentFinancialInstruments 2023-09-30 13425636 core:CurrentFinancialInstruments 2023-09-30 13425636 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13425636 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-09-30 13425636 core:Non-currentFinancialInstruments 2023-09-30 13425636 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 13425636 core:PreviouslyStatedAmount 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Kingsley Healthcare (Holt) Limited
Annual Report and Unaudited Financial Statements
Year Ended 30 September 2024

Registration number: 13425636

Kingsley Healthcare (Holt) Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 11

Kingsley Healthcare (Holt) Limited

Balance Sheet

30 September 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 4 | 6,046 | -
Tangible assets | 5 | 13,702,657 | -
|  | 13,708,703 | -
Current assets |  |  |
Stocks | 6 | 5,712 | -
Debtors | 7 | 229,291 | 1
Cash at bank and in hand |  | 5,253 | -
|  | 240,256 | 1
Creditors: Amounts falling due within one year | 8 | (218,783) | -
Net current assets |  | 21,473 | 1
Total assets less current liabilities |  | 13,730,176 | 1
Creditors: Amounts falling due after more than one year | 8 | (15,381,371) | -
Net (liabilities)/assets |  | (1,651,195) | 1
Capital and reserves |  |  |
Called up share capital | 10 | 1 | 1
Profit and loss account |  | (1,651,196) | -
Shareholder's (deficit)/funds |  | (1,651,195) | 1

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 September 2025 and signed on its behalf by:

Kingsley Healthcare (Holt) Limited

Balance Sheet

30 September 2024

......................................... Mr V Thayanandarajah Director

Company Registration Number: 13425636

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kingsley House
Clapham Road South
Lowestoft
NR32 1QS
United Kingdom

The business address is the same as the registered office address, although the entity operates a
care home in Norfolk, England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end date, the company had net liabilities of £1,651,195 and incurred a net loss for the year of £1,651,196.
The directors believe, with the support of the group and the directors, the company has sufficient working capital to continue to trade for the foreseeable future.
Therefore the directors continue to adopt a going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from any change in the company's circumstances such that the going concern basis would no longer be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of
services in the ordinary course of the Company's activities.
Income relates to monies received for the provision of care home services and is recognised on a
straight line basis over the period of residences.

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Leasehold property | Over the life of the lease
Fixtures, fittings & equipment | 20 - 100% straight line
Leasehold land | Not depreciated

Intangible assets

Intangible assets are stated in the balance sheet at cost, less subsequent accumulated amortisation. Costs include software development expenditure.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Software | 20% straight line

Key accounting judgements and sources of estimation uncertainty
In the application of the company's accounting policies 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 judgements that have a significant impact on the financial statements are described below:
Group recharges
Cost re-allocations are required in order to fairly reflect the cost of management services borne by
group companies and entities under common control. These are based on judgemental estimates of
the proportion of management time spent in areas of the business which are different from where the
payroll cost is originally processed, and where joint contracts of employment are in place. The
carrying value of amounts owed to/from group companies and entities under common control can be
found in note 7 and 8.

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Intercompany loan interest
The business trades as part of a group. In addition to recharges of central costs and other trading
settlements, management charges are raised to reflect the cost of funding arranged at a group level.
Significant balances with group and other connected parties arise, these balances are due after more
than one year. The lending company charges interest on these loans using a market rate for an
equivalent third party loan. The carrying value of amounts owed to/from group companies and entities
under common control can be found in note 7 and 8.
Finance lease liability
The finance liability in note 9 of £13,367,241 (2023 - £nil) is calculated based on discounting future minimum lease payments over the term of lease using the company's obtainable borrowing rate. A finance charge is then accounted for to unwind this discount each year.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Financial instruments

Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Loans with group and connected companies; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for loans with group and connected companies, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Loans with group and connected companies are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 0).

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

4 | Intangible assets

| Software £ | Total £
Cost or valuation
Additions | 7,558 | 7,558
At 30 September 2024 | 7,558 | 7,558
Amortisation
Amortisation charge | 1,512 | 1,512
At 30 September 2024 | 1,512 | 1,512
Carrying amount
At 30 September 2024 | 6,046 | 6,046

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
Additions | 13,908,651 | 77,666 | 13,986,317
Disposals | - | (765) | (765)
At 30 September 2024 | 13,908,651 | 76,901 | 13,985,552
Depreciation
Charge for the year | 267,515 | 16,145 | 283,660
Eliminated on disposal | - | (765) | (765)
At 30 September 2024 | 267,515 | 15,380 | 282,895
Carrying amount
At 30 September 2024 | 13,641,136 | 61,521 | 13,702,657

Included within the net book value of land and buildings above is £1,798 (2023 - £Nil) in respect of freehold land and buildings, £13,637,043 (2023 - £Nil) in respect of long leasehold land and buildings and £2,295 (2023 - £Nil) in respect of short leasehold land and buildings.

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

6 | Stocks

| 2024 £ | 2023 £
Other inventories | 5,712 | -

7 | Debtors

| 2024 £ | 2023 £
Trade debtors | 14,117 | -
Amounts owed by group undertakings | 15,207 | 1
Prepayments | 17,985 | -
Other debtors | 181,982 | -
| 229,291 | 1
Less non-current portion | (15,207) | -
| 214,084 | 1

Details of non-current trade and other debtors

£15,207 (2023 -£Nil) of amounts owed to group undertakings is classified as non current.

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

8 | Creditors

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 44,101 | -
Taxation and social security | 37,969 | -
Other creditors | 55,326 | -
Accruals and deferred income | 81,387 | -
| 218,783 | -

| Note | 2024 £ | 2023 £
Amounts due after one year |  |  |
Amounts owed to group undertakings |  | 448,096 | -
Amounts owed to connected companies | 9 | 1,566,034 | -
Finance lease liabilities |  | 13,367,241 | -
|  | 15,381,371 | -

9 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Finance lease liabilities | 13,367,241 | -
Amounts due to connected companies | 1,566,034 | -
Amounts due to group undertakings | 448,096 | -
| 15,381,371 | -

Other borrowings
Finance lease liabilities are denominated in pounds sterling, £, with a nominal interest rate of 4.69%, and the final instalment is due on 27 January 2058. The carrying amount at year end is £13,367,241 (2023 - £nil).

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

10 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary share capital of £1 each | 1 | 1 | 1 | 1

11 | Related party transactions

The company has taken advantage of the exemption provided by FRS102 to not disclose transactions
entered into between two or more members of a group, provided that any subsidiary which is a party
to the transaction is wholly owned by such a member.

Loans to related parties

2024 | Other related parties £ | Total £
Advanced | 269,030 | 269,030
Repaid | (269,030) | (269,030)
At end of period | - | -

Terms of loans to related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the
amounts are presented in other creditors falling due after more than one year and other debtors
receivable after more than one year

Loans from related parties

2024 | Other related parties £ | Total £
Advanced | 2,986,676 | 2,986,676
Repaid | (1,420,642) | (1,420,642)
At end of period | 1,566,034 | 1,566,034

Terms of loans from related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the
amounts are presented in other creditors falling due after more than one year and other debtors
receivable after more than one year

Kingsley Healthcare (Holt) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

12 | Parent and ultimate parent undertaking

The company's immediate parent is Kingsley (KMT) Limited, incorporated in England and Wales.
These financial statements are available upon request from Kingsley House, Clapham Road South, Lowestoft, Suffolk, England, NR32 1QS