H&H Care Home Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06212325 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

H&H CARE HOME INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B C Sodha

REGISTERED OFFICE:

3rd Floor Westbury House

23-25 Bridge Street

Pinner

Middlesex

HA5 3HR

REGISTERED NUMBER:

06212325 (England and Wales)

AUDITORS:

Accumen Business Consultancy Limited

Coventry University

Technology Park

Puma Way

Coventry

CV1 2TT

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

7,130,000

7,130,000

7,130,000

7,130,000

CURRENT ASSETS

Debtors

8

2,651,125

2,549,864

Cash at bank

2,706

6,967

2,653,831

2,556,831

CREDITORS

Amounts falling due within one year

9

5,102,903

5,152,749

NET CURRENT LIABILITIES

(2,449,072

)

(2,595,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,680,928

4,534,082

PROVISIONS FOR LIABILITIES

10

273,453

273,453

NET ASSETS

4,407,475

4,260,629

CAPITAL AND RESERVES

Called up share capital

11

800,002

800,002

Other reserves

12

2,407,371

2,407,371

Retained earnings

12

1,200,102

1,053,256

SHAREHOLDERS' FUNDS

4,407,475

4,260,629

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 24 April 2024 and were signed by:

B C Sodha - Director

1.	STATUTORY INFORMATION

H&H Care Home Investments 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investment property measured at fair value through the Income Statement.

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.

Revenue recognition

Turnover represents rental income receivable by the company under a lease agreement and is recognised on a straight line basis over the term of the lease.

Investment property

Investment property is stated at fair value. Any gains or loss arising from a change in fair value is recognised on the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments

The company only enters into financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. The cash and cash equivalents are stated at their nominal values, as this approximates to amortised cost.

Other financial liabilities

Other financial liabilities are subsequently measured at amortised cost using the effective interest method.

Loans and borrowings

These are initially recognised at fair value, based upon the nominal amount outstanding. Subsequent to initial recognition, they are recorded at amortised cost. Borrowing costs arising on bank borrowings are expensed as incurred within financial expense using the effective interest method.

Trade and other payables

Trade and other payables are initially recognised at fair value, based upon the nominal amount outstanding. Subsequent to initial recognition, they are recorded at amortised cost.

Impairment of financial assets

For financial assets carried at amortised cost, the amount of the impairment loss recognised is the difference between the asset's carrying amount and the present value of estimated future cash flows.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount reported in the balance sheet if, and only if, there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5.	AUDITORS' REMUNERATION

31.7.23

31.7.22

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

1,200

1,200

Total audit fees

1,200

1,200

6.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2022

and 31 July 2023

595,976

AMORTISATION

At 1 August 2022

and 31 July 2023

595,976

NET BOOK VALUE

At 31 July 2023

-

At 31 July 2022

-

7.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 August 2022

and 31 July 2023

7,130,000

NET BOOK VALUE

At 31 July 2023

7,130,000

At 31 July 2022

7,130,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Amounts owed by group undertakings

2,651,125

2,549,864

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade creditors

4,531

-

Amounts owed to joint ventures

5,093,841

5,093,841

Tax

-

50,386

Accruals and deferred income

4,531

8,522

5,102,903

5,152,749

The company has provided a first legal charge as security on Westerfield Care Home, 30 High Calside, Paisley Scotland PA2 6BY, property owned by the company on a bank loan provided to H & H Care Home Limited, a fellow subsidiary company which is part of Handsale Limited group of companies.

10.	PROVISIONS FOR LIABILITIES

31.7.23

31.7.22

£

£

Deferred tax

273,453

273,453

Deferred

tax

£

Balance at 1 August 2022

273,453

Balance at 31 July 2023

273,453

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

800,002

Ordinary shares

1

800,002

800,002

12.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 August 2022

1,053,256

2,407,371

3,460,627

Profit for the year

146,846

146,846

At 31 July 2023

1,200,102

2,407,371

3,607,473

Where there is a cumulative increase in the fair value of investment properties in excess of any previous impairment losses, this is included in other reserves and is non-distributable.

13.	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

14.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Handsale Limited.

The company has given security to support the bank loan and overdraft facility for H & H Care Home Limited by granting a fixed charge on its freehold property and by a fixed and floating charge on its other assets and undertakings.

15.	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.

16.	ULTIMATE CONTROLLING PARTY

The controlling party is B C Sodha.

The ultimate controlling party is the director, Bharat Sodha and his family.

The ultimate parent company is Handsale Limited, a company incorporated in England & Wales.

The entity's place of business is 30 High, Calside Paisley, Scotland PA2 6BY.

Group accounts are prepared for Handsale Limited and are available from the registered office at -

3rd Floor Westbury House

23-25 Bridge Street

Pinner

Middlesex

England

HA5 3HR