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 2021

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

1,096,568

1,062,579

1,742,568

1,708,579

CURRENT ASSETS

Debtors

6

21,394

14,041

Cash at bank and in hand

844,159

902,582

865,553

916,623

CREDITORS

Amounts falling due within one year

7

1,954,236

883,928

NET CURRENT (LIABILITIES)/ASSETS

(1,088,683

)

32,695

TOTAL ASSETS LESS CURRENT LIABILITIES

653,885

1,741,274

CREDITORS

Amounts falling due after more than one year

8

531,569

607,162

NET ASSETS

122,316

1,134,112

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

122,314

1,134,110

SHAREHOLDERS' FUNDS

122,316

1,134,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 12 September 2022 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 48 (2020 - 44 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

646,000

NET BOOK VALUE

At 31 December 2021

646,000

At 31 December 2020

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 2021

762,555

605,006

1,367,561

Additions

-

117,493

117,493

At 31 December 2021

762,555

722,499

1,485,054

DEPRECIATION

At 1 January 2021

-

304,982

304,982

Charge for year

-

83,504

83,504

At 31 December 2021

-

388,486

388,486

NET BOOK VALUE

At 31 December 2021

762,555

334,013

1,096,568

At 31 December 2020

762,555

300,024

1,062,579

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

Cost: £562,555

Current Value : £762,555

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

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

18,030

13,502

Other debtors

3,364

539

21,394

14,041

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Payments on account

69,500

69,500

Trade creditors

1,347,678

40,223

Taxation and social security

115,815

89,664

Other creditors

421,243

684,541

1,954,236

883,928

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed to group undertakings

531,569

607,162

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2021

1,134,110

Profit for the year

280,204

Dividends

(1,292,000

)

At 31 December 2021

122,314

11.	RELATED PARTY DISCLOSURES

As at balance sheet date 31 December 2021 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 Group Holdings Ltd.

On 31 December 2021 Company owed £531,569 (2019 - £607,162) to Lotus Group Holdings Ltd.

All the above companies were under the same managements.