The Laurels Nursing Home (Hastings) Limi - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05582154 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2022 TO 30 APRIL 2023

FOR

THE LAURELS NURSING HOME (HASTINGS)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

Mrs B G Thind

SECRETARY:

Mr J S Thind

REGISTERED OFFICE:

Office 1 21 Hatherton Street

Walsall

WS4 2LA

REGISTERED NUMBER:

05582154 (England and Wales)

ACCOUNTANTS:

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

FIXED ASSETS

Intangible assets

4

99,945

137,570

Tangible assets

5

84,025

133,748

183,970

271,318

CURRENT ASSETS

Debtors

6

595,513

585,040

Cash at bank and in hand

337,885

140,880

933,398

725,920

CREDITORS

Amounts falling due within one year

7

734,073

688,161

NET CURRENT ASSETS

199,325

37,759

TOTAL ASSETS LESS CURRENT LIABILITIES

383,295

309,077

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

383,195

308,977

SHAREHOLDERS' FUNDS

383,295

309,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 30 January 2024 and were signed by:

Mrs B G Thind - Director

1.	STATUTORY INFORMATION

The Laurels Nursing Home (Hastings) 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, net of discounts.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised over its estimated economic life of 20 years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 67 (2022 - 72 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2022

and 30 April 2023

645,000

AMORTISATION

At 1 March 2022

507,430

Charge for period

37,625

At 30 April 2023

545,055

NET BOOK VALUE

At 30 April 2023

99,945

At 28 February 2022

137,570

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2022

624,762

92,830

717,592

Additions

3,946

-

3,946

Disposals

-

(92,830

)

(92,830

)

At 30 April 2023

628,708

-

628,708

DEPRECIATION

At 1 March 2022

510,748

73,096

583,844

Charge for period

33,935

-

33,935

Eliminated on disposal

-

(73,096

)

(73,096

)

At 30 April 2023

544,683

-

544,683

NET BOOK VALUE

At 30 April 2023

84,025

-

84,025

At 28 February 2022

114,014

19,734

133,748

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

28.2.22

£

£

Trade debtors

138,996

100,770

Amounts owed by group undertakings

429,535

430,601

Other debtors

25,000

46,904

Prepayments

1,982

6,765

595,513

585,040

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

28.2.22

£

£

Trade creditors

21,017

33,851

Tax

29,469

-

Social security and other taxes

46,439

42,974

Wages Control Account

105,897

101,675

Other creditors

437,188

444,811

Accruals and deferred income

94,063

64,850

734,073

688,161

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.23

28.2.22

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

As of 30 April 2023, the company owed £171,315 to Simicare Limited. Mrs B Thind was also a director of Simicare as at that date.

The loan is repayable on demand.

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

10.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Jeeves Estates Limited by virtue of their ownership of 100% of the issued share capital in the company.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Laurels Nursing Home (Hastings) Limited for the period ended 30 April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Laurels Nursing Home (Hastings) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Laurels Nursing Home (Hastings) Limited and state those matters that we have agreed to state to the director of The Laurels Nursing Home (Hastings) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Laurels Nursing Home (Hastings) Limited and its director for our work or for this report.

It is your duty to ensure that The Laurels Nursing Home (Hastings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Laurels Nursing Home (Hastings) Limited. You consider that The Laurels Nursing Home (Hastings) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of The Laurels Nursing Home (Hastings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

30 January 2024