LOTUS CARE MANAGEMENT SERVICES LIMITED - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 09083248 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

LOTUS CARE MANAGEMENT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J K Patel

SECRETARY:

H C Patel

REGISTERED OFFICE:

83 Halsbury Road East

Northolt

UB5 4PY

REGISTERED NUMBER:

09083248 (England and Wales)

FIXED ASSETS

Intangible assets

4

646,000

646,000

Tangible assets

5

1,057,936

1,096,568

1,703,936

1,742,568

CURRENT ASSETS

Debtors

6

222,752

21,394

Cash at bank and in hand

538,039

844,159

760,791

865,553

CREDITORS

Amounts falling due within one year

7

1,180,305

1,954,236

NET CURRENT LIABILITIES

(419,514

)

(1,088,683

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,284,422

653,885

CREDITORS

Amounts falling due after more than one year

8

1,275,320

531,569

NET ASSETS

9,102

122,316

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

9,100

122,314

SHAREHOLDERS' FUNDS

9,102

122,316

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 15 August 2023 and were signed by:

J K Patel - Director

H C Patel - Director

1.	STATUTORY INFORMATION

LOTUS CARE MANAGEMENT SERVICES 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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

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

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.

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 45 (2021 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

646,000

NET BOOK VALUE

At 31 December 2022

646,000

At 31 December 2021

646,000

If goodwill had not been revalued they would have been included at the following historical cost:

Cost: £496,000

Revalued : £646,000

Goodwill were valued on an open market basis on 31 Dec 2016

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2022

762,555

722,499

1,485,054

Additions

-

35,213

35,213

At 31 December 2022

762,555

757,712

1,520,267

DEPRECIATION

At 1 January 2022

-

388,486

388,486

Charge for year

-

73,845

73,845

At 31 December 2022

-

462,331

462,331

NET BOOK VALUE

At 31 December 2022

762,555

295,381

1,057,936

At 31 December 2021

762,555

334,013

1,096,568

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

Cost: £562,555

Current Value : £762,555

Freehold land and building were valued on an open market basis on 31 Dec 2016

6.

DEBTORS

31.12.22

31.12.21

£

£

Amounts falling due within one year:

Trade debtors

22,752

18,030

Other debtors

-

3,364

22,752

21,394

31.12.22

31.12.21

£

£

Amounts falling due after more than one year:

Amounts owed by associates

200,000

-

Aggregate amounts

222,752

21,394

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Payments on account

59,030

69,500

Trade creditors

620,399

1,347,678

Taxation and social security

120,831

115,815

Other creditors

380,045

421,243

1,180,305

1,954,236

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans (see note 9)

289,759

-

Amounts owed to group undertakings

985,561

531,569

1,275,320

531,569

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

289,759

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.22

31.12.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

289,759

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 January 2022

122,314

Profit for the year

276,786

Dividends

(390,000

)

At 31 December 2022

9,100