LOTUS CARE MANAGEMENT SERVICES LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09083248 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

LOTUS CARE MANAGEMENT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J K Patel

H C Patel

SECRETARY:

H C Patel

REGISTERED OFFICE:

83 Halsbury Road East

Northolt

UB5 4PY

REGISTERED NUMBER:

09083248 (England and Wales)

FIXED ASSETS

Intangible assets

4

646,000

646,000

Tangible assets

5

958,014

783,555

1,604,014

1,429,555

CURRENT ASSETS

Debtors

6

204,667

219,041

Cash at bank and in hand

150,093

101,524

354,760

320,565

CREDITORS

Amounts falling due within one year

7

526,566

513,300

NET CURRENT LIABILITIES

(171,806

)

(192,735

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,432,208

1,236,820

CREDITORS

Amounts falling due after more than one year

8

712,401

673,285

NET ASSETS

719,807

563,535

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

719,805

563,533

SHAREHOLDERS' FUNDS

719,807

563,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 20 September 2019 and were signed on its behalf by:

J K Patel - Director

H C Patel - Director

1.	STATUTORY INFORMATION

LOTUS CARE MANAGEMENT SERVICES LIMITED 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 the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

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 38 (2017 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

646,000

NET BOOK VALUE

At 31 December 2018

646,000

At 31 December 2017

646,000

If goodwill had not been revalued they would have been included at the following historical

cost:

Cost: £496,000

Revalued : £646,000

Goodwill were valued on an open market basis on 31 Dec 2016

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

700,000

153,836

853,836

Additions

-

235,866

235,866

At 31 December 2018

700,000

389,702

1,089,702

DEPRECIATION

At 1 January 2018

-

70,281

70,281

Charge for year

-

61,407

61,407

At 31 December 2018

-

131,688

131,688

NET BOOK VALUE

At 31 December 2018

700,000

258,014

958,014

At 31 December 2017

700,000

83,555

783,555

If freehold land and buildings had not been revalued they would have been included at the

following historical cost:

Cost: £500,000

Current Value : £700,000

Freehold land and building were valued on an open market basis on 31 Dec 2016

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

13,502

13,502

Amounts owed by group undertakings

190,626

205,000

Other debtors

539

539

204,667

219,041

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

17,363

68,819

Taxation and social security

34,877

30,060

Other creditors

474,326

414,421

526,566

513,300

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed to group undertakings

712,401

673,285

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2018

563,533

Profit for the year

156,272

At 31 December 2018

719,805

11.	RELATED PARTY DISCLOSURES

As at balance sheet date 31 December 2018 Lotus Care Management Services Ltd, Lotus

Care (Ash Cottage) Ltd, Lotus Care (Ellersile Court) Ltd and Lotus Care (Aaron Lodge) Ltd

were wholly-owned subsidiaries of Lotus Care Group Holdings Ltd.

On 31 December 2018 Company owed £712,401 (2017 - £673,285) to Lotus Group

Holdings Ltd and other subsidiaries namely Lotus care (Aaron Lodge) Ltd, Lotus Care

(Cressington Court) Limited, Lotus Care (Glenarie Manor) Ltd, Lotus Care (Ellersile Court)

Ltd and Lotus Care (Ash Cottage) Ltd owed to the company £115,000 (2017 - £115,000),

£50,000 (2017 - £65,000), £5,000 (2017 - £25,000), £10,000 (2017 - £Nil) and £10,626

(2017 - £Nil) respectively.