ACCOUNTS - Final Accounts preparation

LODGE ROAD CARE LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-312024-05-15No description of principal activity2022-05-25false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14131901 2022-05-24 14131901 2022-05-25 2023-05-31 14131901 2021-05-25 2022-05-24 14131901 2023-05-31 14131901 1 2022-05-25 2023-05-31 14131901 d:Director3 2022-05-25 2023-05-31 14131901 c:FreeholdInvestmentProperty 2022-05-25 2023-05-31 14131901 c:FreeholdInvestmentProperty 2023-05-31 14131901 c:CurrentFinancialInstruments 2023-05-31 14131901 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 14131901 c:ShareCapital 2023-05-31 14131901 c:RetainedEarningsAccumulatedLosses 2023-05-31 14131901 d:OrdinaryShareClass1 2022-05-25 2023-05-31 14131901 d:OrdinaryShareClass1 2023-05-31 14131901 d:FRS102 2022-05-25 2023-05-31 14131901 d:AuditExempt-NoAccountantsReport 2022-05-25 2023-05-31 14131901 d:FullAccounts 2022-05-25 2023-05-31 14131901 d:PrivateLimitedCompanyLtd 2022-05-25 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14131901

LODGE ROAD CARE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

LODGE ROAD CARE LIMITED

REGISTERED NUMBER: 14131901

BALANCE SHEET

AS AT 31 MAY 2023

		2023
Note		£

Fixed assets
Investment property	4		30,250,553
			30,250,553
Current assets
Debtors: amounts falling due within one year	5	2,505,136
Cash at bank and in hand	6	1,951,362
		4,456,498
Creditors: amounts falling due within one year	7	(34,713,003)
Net current (liabilities)/assets			(30,256,505)
Total assets less current liabilities			(5,952)

Net (liabilities)/assets			(5,952)

Capital and reserves
Called up share capital	8	100
Profit and loss account		(6,052)
		(5,952)

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LODGE ROAD CARE LIMITED

REGISTERED NUMBER: 14131901

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M S Johal

Director

Date: 15 May 2024

The notes on pages 3 to 5 form part of these financial statements.

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LODGE ROAD CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

1.	General information

Lodge Road Care Limited is a private company, limited by shares, registered in England and Wales (registration number: 14131901). The company's registered office address is 23 Spring Street, London, W2 1JA.
The Company was incorporated on 25 May 2022 and began trading on that date.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

At the period-end, the company had net liabilities. The directors consider it appropriate to prepare the financial statements on the going concern basis on the understanding that the ultimate parent company has sufficient financial resources to continue supporting the Company.

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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LODGE ROAD CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the period was 2.

4.	Investment property

		Investment property
		£
	Valuation
	Additions at cost	30,250,553
	At 31 May 2023	30,250,553

The 2023 valuations were made by the directors, on an open market value for existing use basis.

Debtors

					2023
					£


	Amounts owed by group undertakings	29,267
	Other debtors	2,475,869
		2,505,136

6.	Cash and cash equivalents
		2023
		£

	Cash at bank and in hand	1,951,362
		1,951,362

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LODGE ROAD CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

7.	Creditors: Amounts falling due within one year
		2023
		£

	Other loans	19,859,612
	Trade creditors	391
	Amounts owed to group undertakings	10,000
	Other creditors	14,840,000
	Accruals and deferred income	3,000
		34,713,003

The assets of the Company are secured by fixed and floating charge.

8.	Share capital
		2023
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

100 Ordinary shares were issued at par on incorporation, with a nominal value of £1 each.

9.	Related party transactions
	At the period-end, £29,267 was due from the immediate parent undertaking, and £10,000 was owed to the ultimate parent undertaking.

10.	Post balance sheet events

Prior to the period-end, an agreement was entered into for the Company to sell its assets to a third party. After the period-end, a rescission agreement was entered into, cancelling the sale agreement. Consequently, no sale has been reflected in these financial statements.

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