The Laurels Care Centre Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03474385

THE LAURELS CARE CENTRE LIMITED

FILLETED FINANCIAL STATEMENTS

31 March 2025

THE LAURELS CARE CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	–	10,714

Current assets

Debtors	5	4,013,151	1,187,516
Cash at bank and in hand		9,724	205
		-------------	-------------
		4,022,875	1,187,721

Creditors: amounts falling due within one year	6	3,674,922	646,313
		-------------	-------------
Net current assets		347,953	541,408
		----------	----------
Total assets less current liabilities		347,953	552,122

Provisions

Taxation including deferred tax	7	–	1,804
Other provisions	7	759,478	759,478
		----------	----------
		759,478	761,282
		----------	----------
Net liabilities		( 411,525)	( 209,160)
		----------	----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 411,527)	( 209,162)
	----------	----------
Shareholders deficit	( 411,525)	( 209,160)
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

THE LAURELS CARE CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 June 2026 , and are signed on behalf of the board by:

A Sheikh

Director

Company registration number: 03474385

THE LAURELS CARE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Castle House, 69 - 70 Victoria Street, Englefield Green, Surrey, TW20 0QX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

Turnover and revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Income is recognised as accommodation is provided to residents.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Tangible assets

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

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures, fittings & equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 April 2024	230,725	230,725
Disposals	( 230,725)	( 230,725)
	----------	----------
At 31 March 2025	–	–
	----------	----------
Depreciation
At 1 April 2024	220,011	220,011
Disposals	( 220,011)	( 220,011)
	----------	----------
At 31 March 2025	–	–
	----------	----------
Carrying amount
At 31 March 2025	–	–
	----------	----------
At 31 March 2024	10,714	10,714
	----------	----------

5. Debtors

	2025	2024
	£	£
Trade debtors	7,978	45,632
Prepayments and accrued income	9,368	–
Amounts due from related parties	3,995,805	1,141,884
	-------------	-------------
	4,013,151	1,187,516
	-------------	-------------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	137
Trade creditors	41,260	3,721
Amounts owed to group undertakings	436,443	367,005
Accruals and deferred income	38,027	60,883
Corporation tax	30,192	30,689
Social security and other taxes	49,853	53,007
Amounts owed to related parties	2,943,914	–
Other creditors	135,233	130,871
	-------------	----------
	3,674,922	646,313
	-------------	----------

7. Provisions

	Deferred tax (note 8)	Dilapidation provision	Other provisions	Total
	£	£	£	£
At 1 April 2024	1,804	457,773	301,705	761,282
Additions	( 1,804)	–	–	( 1,804)
	-------	----------	----------	----------
At 31 March 2025	–	457,773	301,705	759,478
	-------	----------	----------	----------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 7)	–	1,804
	----	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	–	1,804
	----	-------

9. Contingencies

The company has given an inter-company guarantee in respect of the bank borrowings of other companies amounting to £18,390,503 as at 31 March 2025 (2024: £18,240,470).

10. Summary audit opinion

The auditor's report dated 30 June 2026 was unqualified .

The senior statutory auditor was Charles Homan , for and on behalf of UHY Affinia .

11. Related party transactions

The company has taken advantage of the exemption permitted by Section 33 of FRS 102, Related Party Disclosures, not to disclosure transactions with wholly owned members of the Laurels Care Limited group. At 31 March 2025, debtors included amounts due from related parties amounting to £4,056,805 (2024: £1,141,884) in respect loans made to companies under common control. These related party loans are interest free, unsecured and have no fixed terms of repayment. At 31 March 2025, creditors, amounts falling due within one year, included amounts due to related parties amounting to £2,934,914 (2024: £nil), in respect of loans from companies under common control. These related party loans are interest free, unsecured and have no fixed terms of repayment. At 31 March 2025, the company had given guarantees in respect of the bank borrowings of companies under common control, which amounted to £18,390,503 (2024: £18,240,470).

12. Controlling party

The immediate and ultimate parent undertaking is Laurels Care Limited, a company registered in England & Wales. The registered office of Laurels Care Limited is 69-70 Victoria Street, Englefield Green, Surrey, TW20 OQX. The ultimate controlling parties are The Estate of M Sheikh and Guardswell Group Limited, a company owned by GSC Fiduciaries Limited (in its capacity as the trustee of the Guardswell Trust).