Company Registration No. 08510730 (England and Wales)
LIVING CARE HEALTH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
6 Queen Street
Leeds
LS1 2TW
LIVING CARE HEALTH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
LIVING CARE HEALTH LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,899,172
1,899,705
Investments
4
900,000
1,899,172
2,799,705
Current assets
Debtors falling due after more than one year
5
519,339
Debtors falling due within one year
5
96,921
487,586
Cash at bank and in hand
2,310,492
1,130,279
2,407,413
2,137,204
Creditors: amounts falling due within one year
6
(466,784)
(138,136)
Net current assets
1,940,629
1,999,068
Total assets less current liabilities
3,839,801
4,798,773
Creditors: amounts falling due after more than one year
Loans and overdrafts
544,085
617,581
(544,085)
(617,581)
Provisions for liabilities
(119,172)
(78,829)
Net assets
3,176,544
4,102,363
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
3,176,344
4,102,163
Total equity
3,176,544
4,102,363
LIVING CARE HEALTH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 December 2022
Dr S M Feldman
Director
Company Registration No. 08510730
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Living Care Health Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
4215 Park Approach, Thorpe Park, Leeds, LS15 8GB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The
financial statements
present information about the company as an individual entity and not about its group
.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Investment property
not depreciated
Fixtures and fittings
25% reducing balance
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
1
3
Tangible fixed assets
Investment property
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2021 and 31 March 2022
1,897,575
4,476
1,902,051
Depreciation and impairment
At 1 April 2021
2,346
2,346
Depreciation charged in the year
533
533
At 31 March 2022
2,879
2,879
Carrying amount
At 31 March 2022
1,897,575
1,597
1,899,172
At 31 March 2021
1,897,575
2,130
1,899,705
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 7 -
4
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
900,000
Movements in fixed asset investments
Shares in joint ventures
£
Cost or valuation
At 1 April 2021 & 31 March 2022
900,000
Impairment
At 1 April 2021
-
Disposals
900,000
At 31 March 2022
900,000
Carrying amount
At 31 March 2022
-
At 31 March 2021
900,000
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
32,820
32,820
Amounts owed by group undertakings
454,766
Other debtors
41,104
Prepayments and accrued income
22,997
96,921
487,586
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
5
Debtors
(Continued)
- 8 -
2022
2021
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
519,339
Total debtors
96,921
1,006,925
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
73,573
70,300
Trade creditors
30,191
20,213
Amounts owed to group undertakings
325,000
Taxation and social security
170
6,858
Other creditors
2,915
Accruals and deferred income
37,850
37,850
466,784
138,136
Bank loans of £73,573 (2021 - £70,300) are secured by fixed and floating charges over the investment properties.
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
544,085
617,581
Bank loans of £544,085 (2021 - £617,581) are secured by fixed and floating charges over the investment properties.
8
Financial commitments, guarantees and contingent liabilities
The total amount of financial commitments not included in the balance sheet are £21,052 (2021 - £35,087).
LIVING CARE HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 9 -
9
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Living Care Group Limited
(Associated Company)
At the balance sheet date, the amount owed from Living Care Group Limited was £Nil (2021 - £454,706).
Fountain Diagnostic Limited
(Associated Company)
At the balance sheet, the amount owed from/(to) Fountain Diagnostic was (£325,000) (2021 - £519,339).
Transactions with the companies directors:
Dr S M Feldman
(Director)
At the balance sheet date the amount due to the company from Dr S M Feldman was £15,085 (2021 - (£2,915)). The loan was repaid in full on 01/04/2022.
10
Parent company
Parent Company:
Aghoco 1419 Limited
4215 Park Approach, Thorpe Park, Leeds, LS15 8GB
The ultimate controlling party is Dr S M Feldman.
2022-03-31
2021-04-01
false
22 December 2022
CCH Software
CCH Accounts Production 2022.300
No description of principal activity
Dr Stephen M Feldman
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