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