Supported Living Care Property Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09690124 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Supported Living Care Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Hatzis

D R Wylde

REGISTERED OFFICE:

Cedar House

Abingdon Road

Tubney

Oxfordshire

OX13 5QQ

REGISTERED NUMBER:

09690124 (England and Wales)

FIXED ASSETS

Investments

4

11,723,381

11,723,381

CURRENT ASSETS

Debtors

5

25,622,947

25,379,756

Cash at bank

369,238

611,126

25,992,185

25,990,882

CREDITORS

Amounts falling due within one year

6

415,465

617,777

NET CURRENT ASSETS

25,576,720

25,373,105

TOTAL ASSETS LESS CURRENT LIABILITIES

37,300,101

37,096,486

CREDITORS

Amounts falling due after more than one year

7

38,597,472

38,305,544

NET LIABILITIES

(1,297,371

)

(1,209,058

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(1,297,571

)

(1,209,258

)

(1,297,371

)

(1,209,058

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 29 March 2023 and were signed on its behalf by:

D R Wylde - Director

1.	STATUTORY INFORMATION

Supported Living Care Property 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.

Preparation of consolidated financial statements

The financial statements contain information about Supported Living Care Property Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The key assumption concerning the future and other key sources of estimation uncertainty at the report date that has a risk of causing material adjustment to the carrying amount of the loan creditor is future inflation rates.

The loan interest payable is subject to annual inflation indexation based on the Consumer Price Index ("CPI").

Steps have been taken to ensure that any risk associated with CPI linked cost is offset by similar adjustments to revenue.

Estimates and judgements are continually evaluated and based on historical experience, alongside independent forecasts, this is believed to be reasonable under the circumstances.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Interest income is recognised in the Profit and Loss Account using the effective interest method.

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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2021

and 31 March 2022

11,723,381

NET BOOK VALUE

At 31 March 2022

11,723,381

At 31 March 2021

11,723,381

The company's investments at the Balance Sheet date in the share capital of companies include the following:

FPI Co 2 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

1,908

1,339

Profit for the year

569

119

FPI Co 6 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(237,121

)

(184,355

)

Loss for the year

(52,766

)

(49,302

)

FPI Co 9 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(49,358

)

(39,581

)

Loss for the year

(9,777

)

(10,581

)

FPI Co 11 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(56,179

)

(46,569

)

Loss for the year

(9,610

)

(13,188

)

FPI Co 12 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(41,614

)

(30,567

)

Loss for the year

(11,047

)

(11,066

)

FPI Co 13 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

327,836

288,614

Profit for the year

39,222

69,404

FPI Co 15 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

17,454

14,712

Profit for the year

2,742

1,753

FPI Co 16 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(557,671

)

(454,932

)

Loss for the year

(102,739

)

(135,996

)

FPI Co 17 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(629,708

)

(490,833

)

Loss for the year

(138,875

)

(129,276

)

FPI Co 20 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(16,097

)

(7,400

)

Loss for the year

(8,697

)

(9,011

)

FPI Co 24 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(249,180

)

(192,251

)

Loss for the year

(56,929

)

(53,660

)

FPI Co 25 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(23,079

)

(18,730

)

Loss for the year

(4,349

)

(5,375

)

FPI Co 26 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

254,477

197,752

Profit for the year

56,725

43,682

FPI Co 53 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

259,521

195,637

Profit for the year

63,884

56,638

FPI Co 60 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(9,873

)

(7,072

)

Loss for the year

(2,801

)

(4,582

)

FPI Co 65 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(8,839

)

(7,589

)

Loss for the year

(1,250

)

(1,722

)

FPI Co 66 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(62,349

)

(48,676

)

Loss for the year

(13,673

)

(13,344

)

FPI Co 70 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(5,116

)

(3,515

)

Loss for the year

(1,601

)

(3,215

)

FPI Co 71 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

14,487

10,080

Profit for the year

4,407

3,076

FPI Co 75 Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

(16,678

)

(13,204

)

Loss for the year

(3,474

)

(3,562

)

Century House Ellesmere Ltd

Registered office: Cedar House, Abingdon Road, Tubney, OX13 5QQ

Nature of business: Provision of supported living facilities

%

Class of shares:

holding

Ordinary

100.00

31.3.22

31.3.21

£

£

Aggregate capital and reserves

58,741

45,567

Profit for the year

13,174

10,649

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other debtors

25,622,947

25,379,756

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other creditors

415,465

617,777

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

38,597,472

38,305,544

There is an unscheduled Mortgage Debenture, held by GCP Social Housing 1 Limited, dated 24 June 2015.

The charge covers a fixed and floating charge over all property or undertaking of the company.

8.	RELATED PARTY DISCLOSURES

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