Park View Care Home (Liverpool) Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 9

Park View Care Home (Liverpool) Limited

Balance Sheet

30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	3,996,723	260,947
Current assets
Stocks	5	4,635	2,165
Debtors	6	768,494	957
Cash at bank and in hand		361,797	131,176
		1,134,926	134,298
Creditors: Amounts falling due within one year	7	(807,374)	(1,227,634)
Net current assets/(liabilities)		327,552	(1,093,336)
Total assets less current liabilities		4,324,275	(832,389)
Creditors: Amounts falling due after more than one year	7	(5,346,957)	(107,427)
Provisions for liabilities		229,306	229,306
Net liabilities		(793,376)	(710,510)
Capital and reserves
Called up share capital	9	10	10
Profit and loss account		(793,386)	(710,520)
Shareholder's deficit		(793,376)	(710,510)

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:

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

Company Registration Number: 13203562

Park View Care Home (Liverpool) 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 Liverpool, 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, the company held a healthy cash balance of £361,797, providing a strong foundation for its ongoing operations. While the company reported net liabilities of £793,376 (2023: £710,510) and a net loss of £82,886 (2023: loss of £76,068), these figures primarily reflect the impact of recognising a finance leased asset, which resulted in non-cash charges including interest of £335,152 and depreciation of £384,831. See note 7.

Despite these accounting adjustments, the directors remain confident in the company’s financial resilience. With continued support from the parent company and their own commitment, they believe the company has sufficient working capital to meet its obligations and continue trading for the foreseeable future.

Accordingly, the financial statements have been prepared on a going concern basis, and no adjustments have been made that would be necessary if the company were unable to continue as a going concern.

Park View Care Home (Liverpool) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 residence.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 6 and 7.

Park View Care Home (Liverpool) 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 6 and 7.

Finance lease liability
The finance liability in note 8 of £5,221,733 (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.

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 land	Not depreciated
Leasehold property	Over the life of the lease
Fixtures, Fittings & Equipment	20-100% Straight line
Motor Vehicles	20% Straight line

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.

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.

Park View Care Home (Liverpool) 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 84 (2023 - 68).

Park View Care Home (Liverpool) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2023	223,018	63,803	286,821
Additions	4,122,400	21,942	4,144,342
Disposals	-	(4,580)	(4,580)
At 30 September 2024	4,345,418	81,165	4,426,583
Depreciation
At 1 October 2023	7,449	18,425	25,874
Charge for the year	387,757	20,809	408,566
Eliminated on disposal	-	(4,580)	(4,580)
At 30 September 2024	395,206	34,654	429,860
Carrying amount
At 30 September 2024	3,950,212	46,511	3,996,723
At 30 September 2023	215,569	45,378	260,947

Included within the net book value of land and buildings above is £140,506 (2023 - £141,032) in respect of freehold land and buildings and £3,809,706 (2023 - £74,537) in respect of long leasehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Other inventories	4,635	2,165

Park View Care Home (Liverpool) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

6

Debtors

	2024 £	2023 £
Trade debtors	40,841	-
Amounts owed by group undertakings	389,157	-
Prepayments	17,620	-
Other debtors	320,876	957
	768,494	957
Less non-current portion	(396,879)	-
	371,615	957

Details of non-current trade and other debtors

£389,157 (2023 -£Nil) of amounts owed to group undertakings is classified as non current.

£7,726 (2023 -£Nil) of amounts owed by entities under common control is classified as non current.

7

Creditors

	2024 £	2023 £
Due within one year
Loans and borrowings	36,258	-
Trade creditors	119,956	29,225
Taxation and social security	46,292	33,030
Accruals and deferred income	147,651	1,165,379
Other creditors	457,217	-
	807,374	1,227,634