Kingsley Healthcare (Formby) Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 9

Kingsley Healthcare (Formby) Limited

Balance Sheet

30 September 2025

	Note	2025 £
Fixed assets
Tangible assets	4	8,850,613
Current assets
Debtors	5	185,667
Cash at bank and in hand		62,172
		247,839
Creditors: Amounts falling due within one year	6	(420,814)
Net current liabilities		(172,975)
Total assets less current liabilities		8,677,638
Creditors: Amounts falling due after more than one year	6	(8,839,164)
Net liabilities		(161,526)
Capital and reserves
Called up share capital	8	500
Profit and loss account		(162,026)
Shareholder's deficit		(161,526)

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 23 May 2026 and signed on its behalf by:
 

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

Company Registration Number: 16220667

Kingsley Healthcare (Formby) Limited

Notes to the Financial Statements

Period from 31 January 2025 to 30 September 2025

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
Suffolk
NR32 1QS
England

The business address is the same as the registered office address, although the entity operates a care home in Formby, England.

These financial statements were authorised for issue by the Board on 23 May 2026.

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.

Disclosure of long or short period

These financial statements represent the company's first accounting period and cover the period from 31 January 2025 to 30 September 2025, a period of 8 months. As this is the company's first period of trading, there are no comparative figures presented.

Going concern

At the year-end, the company held a cash balance of £62,172, providing a foundation for its ongoing operations. While the company reported net liabilities of £161,526 and a net loss of £162,026, these figures primarily reflect the impact of recognising a finance leased asset.

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.

Kingsley Healthcare (Formby) Limited

Notes to the Financial Statements

Period from 31 January 2025 to 30 September 2025

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:

Leasehold land and buildings
There is an element of judgment involved in the accounting treatment of the leasehold land and buildings. Management determined that the lease meets the definition of a finance lease under FRS 102 and should therefore be recognised in the financial statements as both an asset and a corresponding finance lease liability. In assessing the fair value of the leasehold property, and consequently the lease liability, management concluded that the present value of the minimum lease payments exceeded the fair value of the leasehold property. As a result, the fair value of the leasehold property was used as the basis for recognition in the accounts. Carrying value of leasehold land and buildings at year end is £8,849,355.

The key estimates that have a significant effect on the amounts recognised in 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.

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 notes 5 and 6.

Finance lease liability
The finance liability in note 7 of £8,790,058 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.

Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.

Kingsley Healthcare (Formby) Limited

Notes to the Financial Statements

Period from 31 January 2025 to 30 September 2025

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 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.

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
Furniture, fittings and equipment	20-100% straight line

Leases

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.

Kingsley Healthcare (Formby) Limited

Notes to the Financial Statements

Period from 31 January 2025 to 30 September 2025

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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Loans with group companies and entities under common control; 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 companies and entities under common control, 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 companies and entities under common control 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 period, was 0.

Kingsley Healthcare (Formby) Limited

Notes to the Financial Statements

Period from 31 January 2025 to 30 September 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	8,926,981	1,572	8,928,553
At 30 September 2025	8,926,981	1,572	8,928,553
Depreciation
Charge for the period	77,626	314	77,940
At 30 September 2025	77,626	314	77,940
Carrying amount
At 30 September 2025	8,849,355	1,258	8,850,613

Included within the net book value of land and buildings above is £8,849,355 in respect of long leasehold land and buildings.
 

5

Debtors

	2025 £
Trade debtors	89,006
Other debtors	82,593
Accrued income	14,068
	185,667

Kingsley Healthcare (Formby) Limited

Notes to the Financial Statements

Period from 31 January 2025 to 30 September 2025

6

Creditors

	Note	2025 £
Due within one year
Loans and borrowings	7	70,389
Trade creditors		62,786
Accruals and deferred income		287,639
		420,814