Balquhidder Care Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC447027 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

FOR

BALQUHIDDER CARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R B Sodha

B C Sodha

REGISTERED OFFICE:

1 Charleston Way

Alexandria

G83 0TD

REGISTERED NUMBER:

SC447027 (Scotland)

AUDITORS:

Accumen Business Consultancy Limited

Coventry University

Technology Park

Puma Way

Coventry

CV1 2TT

FIXED ASSETS

Tangible assets

4

125,426

110,331

CURRENT ASSETS

Stocks

-

1,542

Debtors

5

87,760

191,568

Cash at bank and in hand

877,996

561,795

965,756

754,905

CREDITORS

Amounts falling due within one year

6

1,504,149

976,831

NET CURRENT LIABILITIES

(538,393

)

(221,926

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(412,967

)

(111,595

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(413,067

)

(111,695

)

SHAREHOLDERS' FUNDS

(412,967

)

(111,595

)

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 2 June 2023 and were signed on its behalf by:

B C Sodha - Director

1.	STATUTORY INFORMATION

Balquhidder Care Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Long leasehold - 2% on cost

Plant and machinery - 20% on cost

Fixtures and fittings - 15% on reducing balance

Computer equipment - 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 88 (2021 - 95 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2021

96,032

46,269

142,301

Additions

-

30,400

30,400

Disposals

(4,106

)

-

(4,106

)

At 31 July 2022

91,926

76,669

168,595

DEPRECIATION

At 1 August 2021

11,684

20,286

31,970

Charge for year

1,827

9,372

11,199

At 31 July 2022

13,511

29,658

43,169

NET BOOK VALUE

At 31 July 2022

78,415

47,011

125,426

At 31 July 2021

84,348

25,983

110,331

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

57,590

183,467

Other debtors

30,170

8,101

87,760

191,568

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade creditors

148,625

94,275

Amounts owed to group undertakings

1,137,692

734,295

Taxation and social security

39,583

30,157

Other creditors

178,249

118,104

1,504,149

976,831

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.22

31.7.21

£

£

Within one year

18,637

16,107

Between one and five years

2,748

3,532

21,385

19,639

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

100

Ordinary shares of £1 each

1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tejinder Saran (Senior Statutory Auditor)

for and on behalf of Accumen Business Consultancy Limited

10.	RELATED PARTY DISCLOSURES

On 24th February 2020, H & H Care Homes Limited acquired 100% of the issued share capital of Balquhidder Care Limited. The company became a wholly owned subsidiary undertaking of H & H Care Homes Limited on this date.

H & H Care Homes Limited is a wholly owned subsidiary undertaking of Handsale Limited, the utlimate parent company of the Handsale group. Handsale Limited is owned by Mr Bharat Sodha and his family.

The company has provided security in the form of a fixed charge on all and whole of the subjects known as Balquhidder House Care Home and by a fixed and floating charge over its other assets and undertakings dated 27th February 2020 to the bank in respect of a bank loan and overdraft facility granted to H&H Care Homes Limited, a fellow subsidiary company in the same group.

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is B C Sodha.

The ultimate controlling party is B C Sodha.

The immediate parent company is H & H Care Homes Limited and the ultimate parent company is Handsale Limited, both incorporated in England and Wales.

The entity's place of business is 1 Charleston Way, Alexandria, G83 0TD. Group accounts are prepared by Handsale Limited and are available from the registered office at :

3rd Floor Westbury House, 23-25 Bridge Street, Pinner, Middlesex, England. HA5 3HR.