Lifestyle Care UK Ltd 31/12/2021 iXBRL
Lifestyle Care UK Ltd 31/12/2021 iXBRL
Company registration number:
06161785
Audited filleted financial statements
Contents
Directors and other information
Director's responsibilities statement
Statement of financial position
Notes to the financial statements
Directors and other information
Director |
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Company number |
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Registered office |
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Business address |
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Auditor |
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Craven House | ||
32 Lee Lane | ||
Horwich | ||
Bolton | ||
BL6 7BY | ||
Bankers |
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41 Cornmarket | ||
Derby | ||
DE1 2DG | ||
Director's responsibilities statement
Year ended 31 December 2021
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of financial position
31 December 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 8 | - | - | ||||||
Tangible assets | 9 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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Debtors | 10 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 11 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities | 12 |
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_______ | _______ | ||||||||
Net assets |
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Capital and reserves | |||||||||
Called up share capital | 14 |
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Revaluation reserve |
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Capital redemption reserve |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholder funds |
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_______ | _______ | ||||||||
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 September 2022
, and are signed on behalf of the board by:
Director
Company registration number:
06161785
Notes to the financial statements
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Marsham Way, Gerrards Cross, South Bucks, SL9 8AB.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of residential retirement nursing home fees receivable by the company during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income,. Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not yet reserved 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. Deferred tax is measured on an undiscounted basis at tax rates that are expected to apply in the periods which timing differences reverse, base on tax rates and laws enacted or substantively enacted at the balance sheet.
Goodwill
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost or revaluation less any accumulated depreciation and impairment losses.
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:
Freehold property | - |
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Fixtures fittings and equipment | - |
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Stocks
Stocks are measured at estimated cost.
Government grants
Financial instruments
Defined contribution plans
4.
Auditors remuneration
2021 | 2020 | |||
£ | £ | |||
Fees payable for the audit of the financial statements |
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_______ | _______ | |||
5.
Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:
2021 | 2020 | |||
Nursing and care staff |
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_______ | _______ | |||
The aggregate payroll costs incurred during the year were:
2021 | 2020 | |||
£ | £ | |||
Wages and salaries |
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Other pension costs |
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_______ | _______ | |||
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_______ | _______ | |||
6.
Interest payable and similar expenses
2021 | 2020 | ||||
£ | £ | ||||
Bank loans |
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_______ | _______ | ||||
7.
Tax on profit
Major components of tax expense
2021 | 2020 | |||
£ | £ | |||
Current tax: | ||||
UK current tax expense |
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_______ | _______ | |||
Tax on profit |
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_______ | _______ | |||
8.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2021 and 31 December 2021 |
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_______ | _______ | ||
Amortisation | |||
At 1 January 2021 and 31 December 2021 |
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_______ | _______ | ||
Carrying amount | |||
At 31 December 2021 | - | - | |
_______ | _______ | ||
At 31 December 2020 | - | - | |
_______ | _______ | ||
9.
Tangible assets
Freehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost or valuation | ||||
At 1 January 2021 and 31 December 2021 |
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_______ | _______ | _______ | ||
Depreciation | ||||
At 1 January 2021 |
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Charge for the year |
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_______ | _______ | _______ | ||
At 31 December 2021 |
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_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 December 2021 |
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_______ | _______ | _______ | ||
At 31 December 2020 |
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_______ | _______ | _______ | ||
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property | Total | ||
£ | £ | ||
At 31 December 2021 | |||
Aggregate cost | 1,464,668 | 1,464,668 | |
Aggregate depreciation | (285,783) | (285,783) | |
_______ | _______ | ||
Carrying amount |
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1,178,885 | |
_______ | _______ | ||
At 31 December 2020 | |||
Aggregate cost | 1,464,668 | 1,464,668 | |
Aggregate depreciation | (270,490) | (270,490) | |
_______ | _______ | ||
Carrying amount |
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1,194,178 | |
_______ | _______ | ||
The property was revalued as part of the acquisition process in September 2017 at the above amount £4,742,420.
10.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
11.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
12.
Provisions
Deferred tax (note 13) | Total | ||
£ | £ | ||
At 1 January 2021 |
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Additions |
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_______ | _______ | ||
At 31 December 2021 |
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_______ | _______ | ||
13.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2021 | 2020 | |||
£ | £ | |||
Included in provisions (note 12) |
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_______ | _______ | |||
The deferred tax account consists of the tax effect of timing differences in respect of:
2021 | 2020 | |||
£ | £ | |||
Revaluation of tangible assets |
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_______ | _______ | |||
14.
Called up share capital
Issued, called up and fully paid
2021 | 2020 | ||||||||
No | £ | No | £ | ||||||
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400,000 | 400,000 | 400,000 | 400,000 | |||||
_______ | _______ | _______ | _______ | ||||||
15.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Not later than 1 year | - |
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Later than 1 year and not later than 5 years | - |
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_______ | _______ | |
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_______ | _______ | |
16.
Other financial commitments
Capital commitments contracted for but not provided for £3,600,000.
17.
Summary audit opinion
The senior statutory auditor was
Raymond Hamer FCCA
for and on behalf of
LBH Accountancy Services Limited
18.
Related party transactions
19.
Controlling party
20.
Ultimate parent undertaking
Zion Care Limited, a company incorporated in England and Wales is the holding company of
Lifestyle Care UK Ltd
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21.
Provisions available for Smaller Entities
In common with many other businesses of our size and nature we use our auditors to prepare payroll and submit returns to the tax authorities and assist with the preparation of the financial statements.
22.
Financial viability relating to the current difficult trading environment
As referred to in the director's report the care sector, within which the company operates, has experienced an unanticipated and unprecedented traumatic trading environment since the beginning of the pandemic in March 2020. The company and the group of which it is a member have sufficient financial resources to enable it to continue to trade, albeit possibly at a lower level of net profitability, through the current difficult trading environment and for a period of at least twelve months from the date when the financial statements are authorised for issue.