The Woodlands Care Home Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03201441 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE WOODLANDS CARE HOME LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Campbell

Ms S A Mckenzie

SECRETARY:

A J Campbell

REGISTERED OFFICE:

12 Gateway Mews

Ring Way

London

N11 2UT

REGISTERED NUMBER:

03201441 (England and Wales)

ACCOUNTANTS:

G. George Associates Limited

Chartered Certified Accountants

12 Gateway Mews

Ring Way

London

N11 2UT

FIXED ASSETS

Tangible assets

4

2,608,176

457,580

Investment property

5

2,999,360

3,229,360

5,607,536

3,686,940

CURRENT ASSETS

Debtors

6

28,945

281,356

Cash at bank and in hand

276,764

67,919

305,709

349,275

CREDITORS

Amounts falling due within one year

7

1,830,501

154,356

NET CURRENT (LIABILITIES)/ASSETS

(1,524,792

)

194,919

TOTAL ASSETS LESS CURRENT LIABILITIES

4,082,744

3,881,859

CREDITORS

Amounts falling due after more than one year

8

(454,000

)

(465,325

)

PROVISIONS FOR LIABILITIES

(120,273

)

(104,574

)

NET ASSETS

3,508,471

3,311,960

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

849,820

983,716

Retained earnings

2,658,551

2,328,144

3,508,471

3,311,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 23 August 2023 and were signed on its behalf by:

A J Campbell - Director

1.	STATUTORY INFORMATION

The Woodlands Care Home 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 as modified by the revaluation of certain assets.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

1% on cost

Improvements to property

-

3% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable proftits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 29 (2022 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2022

-

360,977

47,318

Additions

2,150,000

48,676

3,664

At 31 March 2023

2,150,000

409,653

50,982

DEPRECIATION

At 1 April 2022

-

17,133

19,993

Charge for year

12,900

12,290

7,747

At 31 March 2023

12,900

29,423

27,740

NET BOOK VALUE

At 31 March 2023

2,137,100

380,230

23,242

At 31 March 2022

-

343,844

27,325

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2022

329,960

34,833

1,102

774,190

Additions

3,489

-

239

2,206,068

At 31 March 2023

333,449

34,833

1,341

2,980,258

DEPRECIATION

At 1 April 2022

260,755

18,453

276

316,610

Charge for year

18,174

4,095

266

55,472

At 31 March 2023

278,929

22,548

542

372,082

NET BOOK VALUE

At 31 March 2023

54,520

12,285

799

2,608,176

At 31 March 2022

69,205

16,380

826

457,580

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2022

and 31 March 2023

20,395

DEPRECIATION

At 1 April 2022

5,099

Charge for year

3,824

At 31 March 2023

8,923

NET BOOK VALUE

At 31 March 2023

11,472

At 31 March 2022

15,296

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

3,229,360

Disposals

(230,000

)

At 31 March 2023

2,999,360

NET BOOK VALUE

At 31 March 2023

2,999,360

At 31 March 2022

3,229,360

Fair value at 31 March 2023 is represented by:

£

Valuation in 2015

160,991

Valuation in 2017

714,102

Valuation in 2022

95,000

Cost

2,029,267

2,999,360

If investment property had not been revalued it would have been included at the following historical cost:

31.3.23

31.3.22

£

£

Cost

2,029,267

2,141,070

Investment property was valued on an open market basis on 31 March 2023 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

17,874

841

Other debtors

11,071

280,515

28,945

281,356

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

15,607

12,667

Hire purchase contracts

5,000

5,000

Taxation and social security

93,092

46,746

Other creditors

1,716,802

89,943

1,830,501

154,356

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

450,666

456,991

Hire purchase contracts

3,334

8,334

454,000

465,325

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

450,666

456,991

9.

RESERVES

Fair

value

reserve

£

At 1 April 2022

983,716

Fair value movement net of deferred tax trf'd from retained earnings

(133,896

)

At 31 March 2023

849,820