REGISTERED NUMBER: 12570818 (England and Wales)

Priory Park Care Ltd

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

Timothy K Ogunleye

Registered office:

23 Marsham Way

Gerrards Cross

South Bucks

SL9 8AB

Registered number:

12570818 (England and Wales)

Accountants:

Leach Briely

Craven House

32 Lee Lane

Horwich

Bolton

Greater Manchester

BL6 7BY

Fixed assets

Tangible assets

4

1,086,502

1,101,165

Current assets

Stocks

1,000

1,000

Debtors

5

1,418,700

263,568

Cash at bank and in hand

1,150,609

1,186,475

2,570,309

1,451,043

Creditors

Amounts falling due within one year

6

748,558

411,524

Net current assets

1,821,751

1,039,519

Total assets less current liabilities

2,908,253

2,140,684

Creditors

Amounts falling due after more than one year

7

(859,556

)

(1,096,925

)

Provisions for liabilities

8

(2,287

)

(11,133

)

Net assets

2,046,410

1,032,626

Capital and reserves

Called up share capital

9

1

1

Retained earnings

2,046,409

1,032,625

Shareholders' funds

2,046,410

1,032,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2025 and were signed by:

Timothy K Ogunleye - Director

1.	Statutory information

Priory Park Care Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of residential retirement nursing home fees receivable by the company during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

over 50 years

Fixtures and fittings

-

20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks

Stock is measured at estimated cost.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation

The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 70 (2023 - 67 ) .

4.	Tangible fixed assets

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Cost

At 1 January 2024

and 31 December 2024

1,075,732

98,141

1,173,873

Depreciation

At 1 January 2024

19,097

53,611

72,708

Charge for year

5,515

9,148

14,663

At 31 December 2024

24,612

62,759

87,371

Net book value

At 31 December 2024

1,051,120

35,382

1,086,502

At 31 December 2023

1,056,635

44,530

1,101,165

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

608,700

254,420

Other debtors

810,000

9,148

1,418,700

263,568

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

62,129

39,932

Taxation and social security

384,351

278,713

Other creditors

302,078

92,879

748,558

411,524

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Other creditors

859,556

1,096,925

8.	Provisions for liabilities

2024

2023

£

£

Deferred tax

2,287

11,133

Deferred

tax

£

Balance at 1 January 2024

11,133

Credit to Statement of Income and Retained Earnings during year

(8,846

)

Balance at 31 December 2024

2,287

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary shares

1

1

1

10.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Timothy K Ogunleye

Balance outstanding at start of year

-

-

Amounts advanced

800,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

800,000

-