The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Westgate Healthcare (Borehamwood) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Devonshire Business Park, Chester Road, Borehamwood, Hertfordshire, WD6 1NA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis notwithstanding the excess of liabilities over assets. Because of the forbearance of the company's creditors and their willingness to support the company, the directors are confident that the company will be able to complete the development of the company's nursing home and thereafter begin to generate income.true

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Assets in the course of construction are not depreciated. Depreciation is only charged from when the assets are brought into use. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include cash at bank and debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including bank loans and creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Borrowing costs

All borrowing costs, including interest incurred on loans used to finance construction projects, are recognised in the profit and loss over the term of the borrowings.

There were no employees (excluding the directors) during the year (2023: none).

The above development loan from Clydesdale Bank PLC is secured by fixed and floating charges over the company's assets including its freehold property. Interest is payable on the loan at 3.5% per annum above the Base Rate and the loan is repayable 90 days after Practical Completion of the nursing home, but it will be replaced by an investment loan from the bank.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Amounts contracted for but not provided in the financial statements:

The company has taken advantage of the exemption in FRS 102 Section 33 - Related Party Disclosures, from the requirement to disclose transactions with wholly owned group companies.

At the year end, the company owed an aggregate amount of £nil (2023: £6,303,755) to companies over which the directors have significant influence. These amounts were unsecured, interest free, and repayable on demand.

The parent company is Westgate Healthcare Group Limited ('WHGL'), a company registered in England and Wales.

Consolidated financial statements are prepared by WHGL, copies of which are available from its registered office: Unit 3 Devonshire Business Park, Chester Road, Borehamwood, Hertfordshire, WD6 1NA.