Select Living Options Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06158787 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

SELECT LIVING OPTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S B Jalil

Mrs R Kousar

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

06158787 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

Chartered Accountants

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

1

1

1

1

CREDITORS

Amounts falling due within one year

6

4,751,006

4,751,006

NET CURRENT LIABILITIES

(4,751,006

)

(4,751,006

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,751,005

)

(4,751,005

)

CAPITAL AND RESERVES

Called up share capital

8

1,476

1,476

Share premium

67,857

67,857

Retained earnings

(4,820,338

)

(4,820,338

)

SHAREHOLDERS' FUNDS

(4,751,005

)

(4,751,005

)

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:

Mrs S B Jalil - Director

1.	STATUTORY INFORMATION

Select Living Options 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 (£).

The company was dormant during the financial year.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items are shown at fair value.

The company has net liabilities at the balance sheet date. The company's ultimate parent company has confimed its support for the company for at least the next 12 months and therefore the financial statements are prepared on the going concern basis.

Preparation of consolidated financial statements

These financial statements are consolidated in the financial statements of Rehability Group Limited. The financial statements of Rehability Group Limited may be obtained from Companies House.

The company has taken exemption from preparing group accounts as it is included in the consolidated accounts for a larger group which are drawn up as full consolidated audited accounts and which are filed at Companies House.

Related party exemption

Other than specific references in the notes to the financial statements, the company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned group entities.

Significant judgements and estimates

These financial statements do not contain any significant judgements or estimation uncertainty.

Critical accounting judgements and key sources of estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Tangible fixed assets

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

Fixtures and fittings

-

50% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Cash flow exemption

The company has taken the exemption available within FRS102 (paragraph 1.12 point (b)) and has opted not to prepare a cash flow statement.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2022

and 30 June 2023

35,094

DEPRECIATION

At 1 July 2022

and 30 June 2023

35,094

NET BOOK VALUE

At 30 June 2023

-

At 30 June 2022

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 July 2022

and 30 June 2023

1

NET BOOK VALUE

At 30 June 2023

1

At 30 June 2022

1

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other loans (see note 7)

4,751,006

4,751,006

7.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Other loans

4,751,006

4,751,006

Other borrowings consist of loan stock of £3,699,100 (2022: £3,699,000) repayable on 30 June 2014 and £1,051,906 (2022: £1,051,906) repayable on 30 June 2015. The repayment of the loan notes was deferred with the consent of the loan note lender. Interest is payable at 14% per annum. Further interest accrues on unpaid interest at a rate of 3% per annum. The loan notes are categorised into A,B and C loan notes. All classes of loan note are unsecured, following the satisfaction of all charges on acquisition.Interest for the period since acquisition has been waived.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100,579

A Ordinary

1p

1,006

1,006

10,950

B Ordinary

1p

110

110

9,671

Deferred

1p

96

96

26,435

Ordinary

1p

264

264

1,476

1,476

Dividends

Subject to the class right of the ordinary A shares (as defined in the company's Articles of Association), the ordinary and ordinary B shares rank pari passu in all respects as to dividends with the ordinary A shares.

Return on capital

On a return of assets on liquidation or otherwise, the assets of the company remaining after payment of its debts and liabilities shall be distributed to the holders of the ordinary, ordinary A and ordinary B shares such that the holders of the ordinary A shares shall receive, in priority to any other distribution, the amounts paid up for the shares held or credited as paid up thereon and thereafter the holders of the ordinary and ordinary B shares shall receive, in priority to any distribution, the amounts paid up for the shares held or credited as paid up thereon and thereafter the remaining assets shall be distributed pro rata to all holders of the ordinary, ordinary A and ordinary B shares.

Voting

Subject to a default period as described below, each holder of ordinary, ordinary A and ordinary B shares is entitled to one vote for each share held. During a default period (as defined in the company's articles of association), only the holders of ordinary A shares shall be entitled to vote at a general meeting of the company.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Rehability UK Community Limited.

The ultimate controlling party is Rehability Group Limited.