BIRA Care Homes Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09004871 (England and Wales)

BIRA CARE HOMES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B P Khanal

R Khanal Guragain

REGISTERED OFFICE:

Oystermouth House Charter Court

Phoenix Way,

Swansea Enterprise Park,

Swansea

West Glamorgan

SA7 9FS

REGISTERED NUMBER:

09004871 (England and Wales)

ACCOUNTANTS:

Carr, Jenkins & Hood

Oystermouth House Charter Court

Phoenix Way

Swansea Enterprise Park

Swansea

SA7 9FS

FIXED ASSETS

Intangible assets

4

302,399

375,599

Tangible assets

5

2,602,881

2,594,069

2,905,280

2,969,668

CURRENT ASSETS

Debtors

6

1,442,747

354,356

Cash at bank and in hand

63,673

1,207,987

1,506,420

1,562,343

CREDITORS

Amounts falling due within one year

7

592,499

621,101

NET CURRENT ASSETS

913,921

941,242

TOTAL ASSETS LESS CURRENT LIABILITIES

3,819,201

3,910,910

CREDITORS

Amounts falling due after more than one year

8

(2,043,389

)

(2,287,341

)

PROVISIONS FOR LIABILITIES

(6,129

)

(6,129

)

NET ASSETS

1,769,683

1,617,440

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

744,399

744,399

Retained earnings

1,025,184

872,941

1,769,683

1,617,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 June 2023 and were signed on its behalf by:

B P Khanal - Director

1.	STATUTORY INFORMATION

BIRA Care Homes 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.

The principal activity of the company during the year continued to be that of residential care home services.

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 recognised at the fair value of the consideration received for care services provided in the normal course of business.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings - 2% Reducing balance

Fixtures and fittings - 25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2021 - 64 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2021

and 30 September 2022

731,999

AMORTISATION

At 1 October 2021

356,400

Charge for year

73,200

At 30 September 2022

429,600

NET BOOK VALUE

At 30 September 2022

302,399

At 30 September 2021

375,599

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2021

2,685,000

53,774

2,738,774

Additions

-

68,170

68,170

At 30 September 2022

2,685,000

121,944

2,806,944

DEPRECIATION

At 1 October 2021

107,400

37,305

144,705

Charge for year

53,700

5,658

59,358

At 30 September 2022

161,100

42,963

204,063

NET BOOK VALUE

At 30 September 2022

2,523,900

78,981

2,602,881

At 30 September 2021

2,577,600

16,469

2,594,069

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

74,352

-

Amounts owed by group undertakings

-

93,961

Other debtors

1,368,395

260,395

1,442,747

354,356

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

255,000

255,000

Amounts owed to group undertakings

28,540

-

Taxation and social security

212,701

219,927

Other creditors

96,258

146,174

592,499

621,101

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

2,043,389

2,287,341

9.	RELATED PARTY DISCLOSURES

At the year end the company was owed £1,368,395 (2021: £260,395) from BRP-UK Limited, which is owned and controlled by the directors.