Kingsley Healthcare (Olney) Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

Kingsley Healthcare (Olney) Limited

Balance Sheet

30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	470	-
Current assets
Debtors	5	3,463	1
Cash at bank and in hand		7,100	-
		10,563	1
Creditors: Amounts falling due within one year	6	(51,208)	-
Net current (liabilities)/assets		(40,645)	1
Total assets less current liabilities		(40,175)	1
Creditors: Amounts falling due after more than one year	6	(185,319)	-
Net (liabilities)/assets		(225,494)	1
Capital and reserves
Called up share capital	7	1	1
Profit and loss account		(225,495)	-
Shareholder's (deficit)/funds		(225,494)	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:
 

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

Company Registration Number: 13425657

Kingsley Healthcare (Olney) 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 Buckinghamshire, 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.

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
Fixture, fittings and equipment	20% straight line

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.

Kingsley Healthcare (Olney) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

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 5 and 6.

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 5 and 6.

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 (Olney) 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 5 (2023 - 0).

Kingsley Healthcare (Olney) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	588	588
At 30 September 2024	588	588
Depreciation
Charge for the year	118	118
At 30 September 2024	118	118
Carrying amount
At 30 September 2024	470	470

5

Debtors

	Note	2024 £	2023 £
Amounts owed by group undertakings	8	1	1
Prepayments		123	-
Other debtors		3,339	-
		3,463	1
Less non-current portion		(1)	(1)
		3,462	-

Details of non-current trade and other debtors

£1 (2023 -£1) of amounts owed to group undertakings is classified as non current.

Kingsley Healthcare (Olney) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

6

Creditors

	2024 £	2023 £
Due within one year
Trade creditors	7,244	-
Taxation and social security	15,288	-
Accruals and deferred income	21,061	-
Other creditors	7,615	-
	51,208	-

	2024 £	2023 £
Due after one year
Amounts owed to group undertakings	83,983	-
Amounts owed to connected companies	101,336	-
	185,319	-

7	Share capital

Allotted, called up and fully paid shares

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

Kingsley Healthcare (Olney) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

8	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	86,001	86,001
Repaid	(86,001)	(86,001)
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	117,593	117,593
Repaid	(16,257)	(16,257)
At end of period	101,336	101,336

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

9	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