The Laurels Nursing Home (Hastings) Limi - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05582154 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

The Laurels Nursing Home (Hastings)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs B G Thind

SECRETARY:

Mr J S Thind

REGISTERED OFFICE:

Office 1

21 Hatherton Street

Walsall

WS4 2LA

REGISTERED NUMBER:

05582154 (England and Wales)

ACCOUNTANTS:

Dhillon Accountants Limited

Chartered Accountants

Office 1

21 Hatherton Street

Walsall

WS4 2LA

FIXED ASSETS

Intangible assets

4

137,570

169,820

Tangible assets

5

133,748

133,641

271,318

303,461

CURRENT ASSETS

Debtors

6

585,041

392,870

Cash at bank and in hand

140,880

353,821

725,921

746,691

CREDITORS

Amounts falling due within one year

7

(688,162

)

(578,321

)

NET CURRENT ASSETS

37,759

168,370

TOTAL ASSETS LESS CURRENT LIABILITIES

309,077

471,831

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

308,977

471,731

309,077

471,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 30 November 2022 and were signed by:

Mrs B G Thind - Director

1.	STATUTORY INFORMATION

The Laurels Nursing Home (Hastings) 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, net of discounts.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised over its estimated economic life of 20 years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 72 (2021 - 82 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2021

and 28 February 2022

645,000

AMORTISATION

At 1 March 2021

475,180

Amortisation for year

32,250

At 28 February 2022

507,430

NET BOOK VALUE

At 28 February 2022

137,570

At 28 February 2021

169,820

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2021

583,546

92,830

676,376

Additions

41,216

-

41,216

At 28 February 2022

624,762

92,830

717,592

DEPRECIATION

At 1 March 2021

476,217

66,518

542,735

Charge for year

34,531

6,578

41,109

At 28 February 2022

510,748

73,096

583,844

NET BOOK VALUE

At 28 February 2022

114,014

19,734

133,748

At 28 February 2021

107,329

26,312

133,641

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

100,770

65,871

Amounts owed by group undertakings

430,602

260,602

Other debtors

53,669

66,397

585,041

392,870

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade creditors

33,852

52,628

Taxation and social security

144,649

128,030

Other creditors

509,661

397,663

688,162

578,321

8.	RELATED PARTY DISCLOSURES

As of 28 February 2022, the company owed £201,131 to Simicare Limited. Mrs B Thind was also a director of Simicare as at that date.

The loan is repayable on demand.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Jeeves Estates Limited by virtue of their ownership of 100% of the issued share capital in the company.