U.S. Securities and Exchange Commission

                             Washington, D.C. 20549

                                   Form 10-KSB

(Mark One)
          [X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                                   ACT OF 1934
                  For the fiscal year ended December 31, 2001

         [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURI-
                            TIES EXCHANGE ACT OF 1934
For the transition period from ___________________to ____________________

                        Commission file number 333-45419

                       Senior Retirement Communities, Inc.
Louisiana                                                            72-134159
(State or other jurisdiction of            (IRS Employer Identification Number)
incorporation or organization)
                               507 Trenton Street
                        West Monroe, Louisiana 71291-3033

                                 (318) 323-2115

Securities registered under Section 12(b) of the Exchange Act:

Title of each class                        Name of exchange on which registered
First Mortgage Bonds                                N/A

Securities registered under Section 12(g) of the Exchange Act:

          ------------------------------------------------------------
                                (Title of class)
          ------------------------------------------------------------
                                (Title of class)

     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section  13 or 15 (d) of the  Exchange  Act  during  the past 12 months (or such
shorter period that the registrant was required to file such report(s),  and (2)
has been subject to such filing requirements for the past 90 days. Yes X No .

     Check if there is no disclosure  of  delinquent  filers in response to Item
405 of Regulation S-B is not contained in this form, and no disclosure will be


<PAGE>



contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10- KSB. [X]

     State issuer's revenues for its most recent fiscal year - $2,042,098

     State the aggregate market value of the voting and non-voting common equity
held by  non-affiliates  computed by  reference to the price at which the common
equity was sold, or the average bid and asked price of such common equity, as of
a specified date within the past 60 days.  (See  definition of affiliate in Rule
12b-2 of the Exchange Act.)


<PAGE>



Note:  If  determining  whether  a  person  is  an  affiliate  will  involve  an
unreasonable  effort and expense,  the issuer may calculate the aggregate market
value of the common  equity held by  non-affiliates  on the basis of  reasonable
assumptions, if the assumptions are stated.

     (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDING DURING THE PAST FIVE
YEARS)

     Check whether the issuer has filed all documents and reports required to be
filed by Section 12, 13, or 15(d) of the Exchange Act after the  distribution of
securities under a plan confirmed by a court. Yes_____ No_____.

                   (APPLICABLE ONLY TO CORPORATE REGISTRANTS)

     State the number of shares  outstanding of each of the issuer's  classes of
common equity,  as of the latest  practicable  date.  December 31, 2001 . Common
shares 16, 588,200 par value $.10 per share:  Preferred shares 425,000 par value
$1.00 per share:

                       DOCUMENTS INCORPORATED BY REFERENCE

(1)  Included  by  reference  Prospectus  dated  June 23,  1998,  I, II, III (2)
Included by reference 10-KSB dated December 31, 1999 I, II and December 31, 2000
I,II, Forms 10-QSB dated March 31, 2001, June 20, 2001 and September 30, 2001.






<PAGE>



<PAGE>



                       SENIOR RETIREMENT COMMUNITIES, INC.

                                   Form 10-KSB

                                      INDEX

Part     1                                                                 Page

Item     1.       Business                                                    1
Item     2.       Properties and method of Financing                          3
Item     3.       Legal Proceedings                                           4
Item     4.       Submission of Matters to a Vote of Security Holders         4

Part     II.

Item     5.       Market for Registrant's  Bonds                              4
Item     6.       Management's Discussion and Analysis of Results
                  of Operations                                               4
Item     7.       Financial Statements and Supplementary Data                 5
Item     8.       Changes in and Disagreements with Accountants               5

Part     III.

Item      9.      Directors and Executive Officers of the Registrant          6
Item     10.      Executive Compensation                                      8
Item     11.      Security Ownership of Certain Beneficial Owners
                  and Management                                              9
Item     12.      Certain Relationships and Related Transactions              9

Part     IV.

Item     13.      Exhibits, Financial Statement Schedules Reports on Form 8-K 9











<PAGE>















<PAGE>



Part I
Item     1.       Business

                                                     OVERVIEW

General

Senior  Retirement  Communities,  Inc.  (the Company or SRC) was  organized as a
Corporation  under the laws of the State of Louisiana on September 10, 1997. The
Corporate  charter has been amended one time on November 6, 1997. The Company is
in the  business  of  developing  and owning  housing for  seniors.  SRC primary
interests are in the  development of assisted  living  facilities  (ALFs).  ALFs
contain one or more  facilities  for seniors who are  independent,  require some
assistance or suffer from dementia. Dementia units are primarily for the support
of individuals suffering from Alzheimers and related disorders.

Independent  Living

Independent  Living  facilities are anticipated to make up a small amount of the
Companys  business.  It is anticipated that, as the independent  living group of
seniors age, they will convert to assisted  living within the community  thereby
reducing their impact upon the  communities.  The Company has maintained  excess
land in each of the  communities  in order to meet the  demands of  seniors,  no
matter which direction senior care evolves.

Assisted  Living

Assisted  living will make up the largest  impact  upon the  Company's  success.
Assisted living continues to evolve with state and federal interest in this form


<PAGE>



of senior care. It is anticipated that political pressure will continue to grow,
because of the impact  that  assisted  living is having on other forms of senior
care. In Louisiana the nursing home industry, which has strong political support
in the Louisiana legislature,  has introduced a bill which would have a negative
impact upon the industry. SRC, along with other assisted living communities,  is
aware of the proposed  legislation.  It is the Company's  intent to resist these
efforts.

Dementia

Independent  dementia facilities are fairly new in Louisiana.  The Company built
the  first  independent  dementia  facility  in  Bossier  City  and  Shreveport,
Louisiana.  It used as a model The  Terrace  located in West  Monroe,  Louisiana
which was built by an affiliate of the Company.  It is anticipated that dementia
facilities will have a growing impact on the company success. The same political
pressures discussed above will also impact dementia.

Adult Day Care

An item which is expected to  contribute  in a minor but  noteworthy  way to the
revenues of the Company is adult day care.  Individuals  who prefer to remain in
their homes or families who have no caregiver for the senior  citizen during the
day can enroll in the adult day care  program.  Seniors in this  program come to
the  facility and are fed and housed  during the day.  They go back to their own
homes in the evenings.

                                        1

<PAGE>



Employees

The Company has seventy seven full time and eleven part time  employees in three
locations in north Louisiana.  It is anticipated  that, as occupancy  increases,
the number of employees will increase.

Source of  Business

The Companys business is designed to provide a secure, comfortable,  and healthy
living  environment  for seniors ages 72 and up who have a disposable  income of
approximately  $25,000 and up.  Independent living and dementia residents may be
younger than the assisted living demographic.



<PAGE>



Method of Operation

The Companys ALFs are managed by The Forsythe Group,  Inc.  (Forsythe)  which is
owned by Joanne M. Caldwell Bayles, President of the Company. The ALF management
staff  consists of five  individuals  including Ms.  Bayles.  Two members of the
staff  have  Master's  degrees  in  Gerontology.  They  have  over 20  years  of
experience in hospitals,  nursing homes,  and the assisted  living  industry and
have direct supervisory responsibility for the administrators of each ALF.

Even prior to the formation of the Company,  Forsythe kept a close  relationship
with the Department of Social Services for the State of Louisiana,  which is the
authority  responsible for regulating ALFs in Louisiana.  In 1996 Social Service
began developing new minimum standards for ALFs. When a decision was made by the
Company to develop ALFs,  the Forsythe staff  recommended  the Company adopt the
proposed new minimum standards for all of its projects.  As a result,  the staff
of Forsythe  designed  all of the ALFs which the  Company  owns to meet the new,
stricter  requirements.  The  Company  also  adopted the new  standards  for its
personnel.  The Adult Residential Care Minimum Standards were adopted and became
effective on March 31, 1999. As a result,  the Company is in compliance with all
requirements  including  those  regulating  buildings,  staffing,  and education
requirements.

The  Forsythe ALF  management  staff  performs the roles of central  purchasing,
accounting  and  payroll,  and  programming.  All  menus  are  planned  with the
assistance with a registered dietitian.

Administrators  are  required  to  meet  the  standards  set  forth  in the  new
regulations.  Employees  are  required  to  submit  to  drug  testing  prior  to
employment  as well as random drug tests during  employment.  All  employees are
required  to  submit  to a  background  check  by  the  State  Police  prior  to
employment.

Competition

Competition in ALFs has leveled off. To the best of our knowledge,  no new units
were  built in any of our  markets  in the last  year and  nursing  homes are in
decline. Government regulation continues to increase.


                                        2

<PAGE>





<PAGE>



Property Environmental

The  Company's  ALFs are in compliance  with all  environmental  laws.  Prior to
building  each site was  inspected and an  environmental  engineer  studied past
history. None of the sites were subject to any environmental problems.

Item     2.       Properties and Methods of Financing

As of  December  31,  2001 the  Company  had three ALFs open for  business.  The
Ruston,  Louisiana ALFs assisted living units  (assisted and independent  living
units)  opened  for  business  in October  1998.  The  Ruston  ALF  contains  37
assisted/independent  and 15 dementia units as a result of increased  demand for
Alzheimer's  facilities in the area and an increase in  competition  in assisted
living  facilities.  As of December  31, 2001,  the Arbor  (assisted/independent
units) was 76% occupied and the Terrace (dementia) was 53% occupied.

The  Bossier  City  facility  contains  The Arbor of  Bossier  consisting  of 36
assisted  /independent  living  units  and The  Terrace  of  Bossier,  a 24-unit
dementia  facility.  As of December 31, 2001, the Arbor was 100%  occupied.  The
Terrace  occupancy was 50%.  Competition  in the  Shreveport-Bossier  market has
leveled  off.  The Arbor is  competing  well,  but the  Terrace has been slow in
reaching its target  occupancy.  Increased  marketing efforts have brought about
increased  occupancy.  The Terrace is expected to reach full  occupancy by June,
2002.

The  final  facility  is  The  Terrace  of  Shreveport  located  in  Shreveport,
Louisiana,  consisting of a 24- unit dementia facility.  The Shreveport facility
opened for  business  on January  22,  1999.  The  occupancy  of the  Terrace on
December 31, 2001 was 96%.

The  construction  of the facilities  was financed  through the sale of Co-First
Mortgage  bonds  as set  forth  in the  prospectus  dated  June  23,  1998  with
construction  loans  provided by Church Loans and Investment  Trust.  All of the
construction loans have been paid in full.

We also own  approximately  26 acres  of land  located  in  Ruston  (20  acres),
Shreveport (2 acres), and Minden (4 acres), Louisiana for future construction.

We have  continued to finance the expansion and  development by a combination of
private  placement of common and preferred  stock as well as the public offering
of First Mortgage  Bonds.  In March 1999 the company  purchased  approximately 6
acres of land for  $525,000  paying  $100,000  in cash and the  issuing  425,000
shares of $1.00 par value Preferred  stock.  The property is the location of the
Bossier City,  Louisiana facility.  The Preferred stock is paying dividends at a
rate of 4% for the first two years, 6% for the second two years, and 8% for the


<PAGE>



final two years. The Preferred stock shall be redeemed in full at the end of the
fifth year for the total sum including  accrued  dividends.  It is recallable at
anytime at the option of the company.


                                        3

<PAGE>



The holders of the Preferred  stock shall also have the right to purchase common
stock at a 20% discount if and when the company issues  additional  common stock
in the form of a public  offering  if done so within 8 years of date  issued for
preferred stock.

Item     3.       Legal Proceedings

The Company is not involved in any material legal proceedings at this time

Item     4.       Submission of Matters to a Vote of Security Holders

None.

Part II.

Item     5.       Market for Registrant's Bonds

The Bonds were offered by MMR Investment Bankers,  Inc. (the "Underwriter") on a
best-efforts  basis as agent for the Company.  The bonds are offered  subject to
prior sale. The Underwriter does not intend to make a market in the Bonds. There
is no  quoted  market  for the Bonds and  there is no  assurance  a market  will
develop.

Item     6.       Managements Discussion and Analysis of Results of Operations

This commentary should be read the following  documents for a full understanding
of Senior Retirement Communities, Inc. financial condition and the status of the
Company which reflect start up operations;  the entire Prospectus dated June 23,
1998;  forms 10-K dated  December  31, 1999 and 2000,  and forms  10-QSB for the
periods  ending March 31, 2001;  June 30, 2001;  and  September 30, 2001 and the
unaudited  financial statement presented therein along with all of the footnotes
thereto.




<PAGE>



Major changes in Financial Conditions

The major changes in financial  condition between December 31, 2000 and December
31, 2001 were as follows:  Current  assets  consisted  primarily  of cash in the
amount of $ 24,697. Net Property, Plant, and Equipment decreased from $9,427,383
as of December  31,2000 to $9,210,280  as of December 31, 2001.  The decrease is
the result of depreciation of the assets.  Total current  liabilities  increased
from $ 51,338 as of  December  31,  2000 to $ 76,163 as of  December  31,  2001.
Long-term debt increased from $ 8,984,734 as of December 31, 2000 to $10,036,268
as of December  31, 2001,  which  consisted of bond  payables.  Liabilities  due
stockholders and affiliates decreased from $1,113,989 as of December 31, 2000 to
$1,012,793 as of December 31, 2001.  Total  Stockholders  Equity  decreased from
($650,277) as of December 31, 2000 to  ($1,875,252) as of December 31, 2001. The
decrease is the primarily the result of the net operating loss of $ 1,226, 975.


                                                         4

<PAGE>



Liquidity and Financial Position

The Company receives significant operating funds from its affiliate The Forsythe
Group,  Inc.  through  short-term  loans.  The ability of The Forsythe  Group to
continue to make available loans is necessary for the continuing  success of the
company.  If future  conditions  would create problems in Forsythe's  ability to
advance funds to the Company, the Company's future success would be in doubt.

On February  27, 2001,  due to  continuing  operating  losses as a result of not
achieving desired  occupancy  levels,  the Company filed a request with Colonial
Trust Company, the acting agent for the bondholders, to extend all principal and
interest  for four years,  including  amounts  already past due and amounts that
would have  become due on February 1, 2002.  The  request was  submitted  to the
bondholders and approved by a majority.  Of the $8,150,000 in bonds outstanding,
bondholders  representing  $122,250  voted to reject the plan.  This proposal is
intended to provide  the  Company  additional  time to achieve  full  occupancy,
allowing future payments to be paid as they come due. Should the Company fail to
achieve its target occupancy levels, additional measures would be come necessary
to remain a going concern.

As a continuing  part of the  Company's  effort to improve cash flow and provide
working capital for its operations,  the Company has adopted a plan to refinance
the debt on the Ruston facility by selling the facility to a related party who


<PAGE>



would obtain  permanent  financing and liquidate the bond debt on that facility.
In  contemplation  of this move, the Company  transferred  the operations of the
Ruston facility to the related entity effective January 1, 2002. We hope to have
the sale completed in the early summer of 2002.

Forward- Looking Statements:

Statements  that  are not  historical  facts,  including  statements  about  (I)
operating  profits or losses as those  discussed in results of operations;  (II)
Impact  of  political  decisions  and  new  laws  from  the  State  and  Federal
Government.  The Company wishes to caution the reader that factors below,  along
with the factors set forth in the Company's June 30, 1999 form 10QSB,  September
30,  1999  form 10 QSB,  and the  prospectus  along  with  the  Company's  other
documents  filed with the SEC,  have  affected  and could  affect the  Company's
actual  results  causing  results  to  differ   materially  from  those  in  any
forward-looking statement. These factors include: the acceptance of the Assisted
Living Concept by each of the  communities in which they are located,  increased
competition in each of the  communities,  economic  outlook  whether the economy
improves or slips into recession, technological changes in dealing with seniors,
change in government  regulation,  the success of strategic decisions to improve
financial  performance,  the  ability of the  Company to contain  cost,  and the
continued increase in the market acceptance of ALF's.

Item     7.       Financial Statements and Supplementary Data

The  financial  statements  for the  Company  and  independent  auditors  report
incorporated herein by reference and is filed herewith as Exhibit A

Item     8.       Changes in and Disagreements with Accountants

                                                         5

<PAGE>



None


Part     III.

Item      9.      Directors and Executive Officers of the Registrant

OFFICERS, DIRECTORS AND MANAGEMENT OF THE COMPANY.



<PAGE>



The members of the Board of  Directors  of the Company are elected  annually and
hold office  until their  successors  are elected  and  qualify.  The  Company's
officers are chosen to serve at the pleasure of the Stockholders. The management
of the Company has a combined  total of over 75 years of  experience in finance,
construction, property development, and property management.

The  Facilities  management  staff  consists of five  individuals  including the
President.  Two members of the staff have Master's degrees in Gerontology.  They
have over 20 years of  experience  in  hospitals,  nursing  homes,  and assisted
living  facilities.  They have direct supervision for each administrator of each
ALF.

The  Company  owns  three  facilities  located  in  Ruston,  Bossier  City,  and
Shreveport,  Louisiana,  which are managed by The  Forsythe  Group,  Inc.  Other
facilities  managed by Forsythe which are affiliates of the Company are assisted
living centers, independent living centers, and dementia centers in West Monroe,
Bastrop, Farmerville, Natchitoches and Minden, Louisiana.

Forsythe and the individual  owners of each facility  maintain  close  relations
with the Department of Social Services for the State of Louisiana,  which is the
authority   responsible  for  regulating  assisted  living  in  Louisiana.   The
management  of Forsythe  is active in both state and  national  Assisted  Living
organizations.

The Company's  management  staff  performs the central  purchasing,  payroll and
accounting,  menu planning and programming functions. All menus are planned with
the assistance with a registered dietitian.

Administrators  are required to meet the standards set forth in applicable state
and federal regulations.  Employees are required to submit to drug testing prior
to employment as well as random drug tests during employment.  All employees are
required  to  submit  to a  background  check  by  the  State  Police  prior  to
employment.



                                                         6

<PAGE>



The  names  of the  directors  and  executive  officers  of the  Company,  there
respective ages and their positions and office with the Company are as follows:



<PAGE>



Name                            Age               Positions and Offices Held
Joanne M. Caldwell-Bayles       42             Chairperson of the Board, Chief
                                               Executive Officer, President and
                                               Director
Sherry Kenney                   45             Vice President, Director,
                                               Director of Operations
Raymond L. Nelson               65             Vice-President, Director
Jean Gaffney-Nelson             63             Assistant Secretary, Director
Richard H. Neely, Jr.           46             Chief Financial Officer, Director

Joanne M.  Caldwell-Bayles,  42 years old.  In 1996,  Joanne M.  Caldwell-Bayles
formed The Forsythe Group, an unincorporated holding company specializing in the
purchase  and  collection  of FDIC notes  from  failed  financial  institutions.
Forsythe purchased over $10,000,000 in face value of notes at a discount and was
successful  in  collecting  amounts  sufficient  to produce  profits  from their
efforts. Some of the notes were secured. As a result, Forsythe obtained property
which was sold or financed at a profit. In 1996 Ms. Caldwell-Bayles incorporated
The Forsythe Group,  Inc. She has been the President and Chief Executive Officer
of the company since its inception.  Mrs.  Caldwell-Bayles  has senior executive
experience  in the  development  and  operation  of  assisted  living and memory
disorder  facilities  as  well  as  hotel  management,  personnel,  finance  and
commercial  and  residential  development.  In  addition  to her duties with the
company she is serving as Chairperson of the Board of Directors of the Louisiana
Assisted  Living  Association.   She  also  serves  on  the  Council  of  States
representing Louisiana in the Assisted Living Federation of America.

Sherry Kenny, 45 years old. She served as the  Administrator of The Oaks Nursing
Home in Monroe, Louisiana from 1988 - 1994 and was responsible for the strategic
planning,  marketing  and  maintenance  of  all  plans/records  relating  to the
facility.  In 1995 she became the Manager of the Azalea Estates  assisted living
facility, Monroe, Louisiana. Ms. Kenny also conducted a night class at Northeast
Louisiana  University,  Monroe,  Louisiana  teaching  "Perspectives on Aging" to
occupational therapy, gerontology, and social work students. In 1997, she joined
Senior  Retirement  Communities,   Inc.,  as  Director  of  Operations.  She  is
responsible for strategic  planning and marketing for the company and has direct
supervision  over the  administrators  of each of the failities.  Ms. Kenny also
maintains  and  keeps  track of all  state  guidelines  in  accordance  with the
Department  of Social  Services.  In May 1999,  she was  elected to the Board of
Directors and appointed Vice- President of the Company. Ms. Kenny has a Bachelor
of Business  Administration,  major in Accounting and a Master of Arts. She also
has a Masters  degree in Gerontology  from the  University of Louisiana,  Monroe
(formerly Northeast Louisiana University), Monroe, Louisiana.





<PAGE>



                                                         7

<PAGE>



Raymond L. Nelson,  65 years old. Mr. Nelson attended the University of Houston.
He is the President and CEO of Town & Country Insurance Agency,  Inc. He manages
forty employees in three locations in the Houston-Galveston,  Texas metropolitan
area. Mr. Nelson is the past President of the Houston Council of the Navy League
of the United States and is currently a national director. He is a past director
of the Independent Insurance Agency of Houston, Texas.

Jean  Gaffney  Nelson,  63 years old,  Mrs.  Nelson  has 27 years in  management
experience  in diagnostic  and  interventional  cardiology  in a large  hospital
environment.  Mrs. Nelson was employed as the Manager of Cardiology Services and
Nuclear  Medicine  at the  Methodist  Hospital in  Houston,  Texas.  She studied
biology and took courses in computer  science,  accounting and management at the
University  of Houston in Houston,  Texas.  Mrs.  Nelson is  registered in adult
echocardiography by the American Registry of Diagnostic Medical Sonographers and
is a member of the American College of Cardiovascular Administrators.

Richard Hunter Neely,  Jr., CPA, 46 years old. Mr. Neely has 25 years experience
in  business,  the  majority  of  those  years in  management.  He is a CPA with
thorough  knowledge  and  understanding  of accounting  and financial  concepts,
principles, and applications. Mr. Neely has extensive experience with all phases
of Human Resources management,  including hiring, promotion, and termination. He
maintains liaison between management and regulatory bodies and officials.  He is
responsible for the entire accounting system and has direct  responsibility  for
payroll, accounts payable, accounts receivable and general ledger functions. Mr.
Neely has a B.A.  degree from the  University  of Louisiana  at Monroe,  Monroe,
Louisiana.  He also took  postgraduate  courses in  accounting,  completing  his
accounting  course work in December 1994. He passed the CPA exam in May 1995. He
has been the  principal  organist  at First  United  Methodist  Church,  Monroe,
Louisiana since April 1986.

The members of the Board of  Directors  of The Company are elected  annually and
hold office until their  successors  are elected and  qualified.  The  Company's
officers  are chosen to serve at the  pleasure  of the Board of  Directors.  The
management of The Company has a combined total of over 75 years of experience in
finance, construction, property development, and property management.

Item 10.      Executive Compensation

Joanne M. Caldwell-Bayles               $80,000 per year


<PAGE>



The company pays no other Executive, officer or director. Directors and officers
are employed and paid by The Forsythe  Group,  Inc., the management  company for
the Company's properties.



                                        8

<PAGE>



Item 11.      Security Ownership of Certain Beneficial Owners and Management
                                                                      Percent of
Name & Address of Beneficial Owner       Title of Class             Class Owned
Joanne M. Caldwell Bayles                  Common Stock                   16.7%
507 Trenton Street, West Monroe, LA 71291

Raymond and Jean Nelson                    Common Stock                    9.0%
1075 Katy Freeway, Suite 150, Houston, TX 77024

The Forsythe Group, Inc. (1)               Common Stock                   55.4%
507 Trenton Street, West Monroe, LA 71291

The Arbor Group,  L.L.C. (2) Common Stock 18.9% 507 Trenton Street, West Monroe,
LA 71291

Note 1: Joanne M. Caldwell-Bayles owns 100% of the capital stock of the Forsythe
Group, Inc.

Note 2: Joanne M.  Caldwell-Bayles owns 50%, Raymond and Jean Nelson own 15% and
The  Forsythe  Group,  Inc.  owns 35% of the capital  stock of The Arbor  Group,
L.L.C.  The  executive  officers and directors of the Company as a group are the
beneficial owners of 100% of the common stock of the Company.

Item 12.      Certain Relationships and Related Transactions

See Prospectus dated June 23, 1998, included herein by reference.


Part IV.

Item 13. Exhibits, Financial Statement schedules and Reports on Form 8-K

1.   Exhibits, Financial Statement Schedules


<PAGE>



     a.       Exhibit A, Financial Statement and Schedules

2.   Reports on Form 8-K

No reports on Form 8-K were filed during the last quarter of 1999



                                                         9

<PAGE>


Pursuant to the requirements of Section 13 or 15 (d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf  by the  undersigned,  thereunto  duly  authorized,  in the  City of West
Monroe, State of Louisiana, on March 29, 2002.

Senior Retirement Communities, Inc.

/s/ Joanne M. Caldwell-Bayles
--------------------------
By: Joanne M. Caldwell-Bayles
President, Finance and Treasurer, Director

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  Registrant and
in the capacities indicated on March 29, 2002.

Signature                              Title

/s/ Joanne M. Caldwell-Bayles
-------------------------
Joanne M. Caldwell-Bayles    Chairperson of the Board, Chief Executive Officer,
                             President, Finance and Treasurer - Director

/s/ Raymond L. Nelson
-------------------------
Raymond L. Nelson            Vice-President, Director

/s/ Jean Gaffney Nelson
-------------------------
Jean Gaffney Nelson          Assistant Secretary, Director

/s/ Sherry Kenney


<PAGE>



-------------------------
Sherry Kenney                Vice President, Secretary, Director of Operations,
                             Director
/s/ Richard H. Neely, Jr.
--------------------------
Richard H. Neely, Jr.        Chief Financial Officer, Director


                                       10

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                       SENIOR RETIREMENT COMMUNITIES, INC.

                               FINANCIAL STATEMENT

                                December 31, 2001


































Senior Retirement Communities, Inc.
Financial Statement
December 31, 2001





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Table of Contents

FINANCIAL STATEMENTS                                                       Page

   Report                                                                    1
   Balance Sheet                                                             2
   Statement of Income                                                       4
   Statement of Retained Earnings (Deficit)                                  6
   Statement of Cash Flows                                                   7
   Notes to Financial Statements                                             9





































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W. L. ALBRITTON
CERTIFIED PUBLIC ACCOUNTANT
1500 STUBBS AVENUE
MONROE, LOUISIANA  71201

PHONE: (318) 410_9767
FAX: (318) 362_9993


Senior Retirement Communities, Inc.
507 Trenton Street
West Monroe, Louisiana

I have audited the accompanying balance sheets of Senior Retirement Communities,
Inc. as of December  31,  2001 and 2000 and the  related  statements  of income,
retained  earnings  (deficit)  and cash  flows for the years then  ended.  These
financial  statements are the  responsibility  of the Company's  management.  My
responsibility  is to express an opinion on these financial  statements based on
my audit.

I conducted my audit in accordance with generally  accepted auditing  standards.
Those standards  require that I plan and perform the audit to obtain  reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining on a test basis,  evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
I believe that my audit provides a reasonable basis for my opinion.

In my opinion,  the financial statements referred to above present fairly in all
material respects, the financial position of Senior retirement Communities, inc.
at December  31, 2001 and 2000 and the  results of its  operations  and its cash
flows for the years then ended in conformity with generally accepted  accounting
principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company will  continue as a going  concern.  As discussed in note 4, the Company
has suffered  continued  recurring  losses from operations and has a net capital
deficiency  that  raises  substantial  doubt  about its ability to continue as a
going concern.  Management's plans in regard to these matters are also described
in note 4. The financial  statements do not include any  adjustments  that might
result from the outcome of this uncertainty.

March 28, 2002



<PAGE>




W. L. Albritton
Certified Public Accountant




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Senior Retirement Communities, Inc.                                      _ 2 _
Balance Sheet
December 31, 2001

                                              2001                   2000
                                      ---------------        -----------------
ASSETS

Current assets

  Cash                                $           24,697              $  68,635
  Prepaid Expenses                                14,995                  3,766
                                         ---------------        ---------------
  Total current assets                            39,692                 72,401

Property, plant and equipment
  Buildings                                    8,115,371              8,115,371
  Furniture and fixtures                         243,943                231,122
  Land                                         1,508,820              1,508,820
                                         ---------------        ---------------
                                               9,868,134              9,855,313
  Less:  Accumulated depreciation                657,854                427,930
                                         ---------------        ---------------
                                         ---------------        ---------------
  Net property and equipment                   9,210,280              9,427,383
                                         ---------------        ---------------


                                   $           9,249,972           $  9,499,784
                                         ===============        ===============








<PAGE>


See accompanying notes


Senior Retirement Communities, Inc.                                      _ 3 _
Balance Sheet
December 31, 2001

                                                2001                   2000
                                          ---------------        --------------
LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

  Accounts payable                    $           76,163              $  51,338
                                         ---------------        ---------------

Long_term debt
  Bonds payable                               10,036,268              8,984,734
  Redeemable preferred stock                     425,000                425,000
                                         ---------------        ---------------

Other liabilities
  Due to stockholders and affiliates           1,012,793              1,113,989
                                         ---------------        ---------------

Stockholders' equity
 Common stock, No par value, 90,000,000
 shares authorized, 16,588,200 shares
 issued and outstanding                        1,658,820              1,658,820
Retained earnings (deficit)                   (3,959,072)            (2,734,097)
Total stockholders equity                     (1,875,252)              (650,277)


<PAGE>




                                   $           9,249,972           $  9,499,784
                                         ===============        ===============










See accompanying notes


Senior Retirement Communities, Inc.                                      _ 4 _
Statements of Income
For the years  ended  December  31,  2001 and
2000

                                                   2001                   2000

Revenues                           $           2,042,098           $  1,449,806

Expenses
Accounting Fee                                    48,026                 48,000
Activities                                        11,597                  5,296
Advertising                                        2,420                 23,094
Automobile Expense                                 1,735                    233
Bank Service Charges                                 241                    541
Bond Fees                                          4,156                      0
Cable Expense                                        509                      0
Carpet Cleaning                                        0                    246
Casual Labor                                         531                    956
China,Glass Silver expense                           442                      0
Commissions                                          221                      0
Consulting                                         2,500                  5,500
Contributions                                        110                      0
Decorations                                        6,028                  2,567
Depreciation Expense                             229,924                226,708
Dues                                               1,172                  1,361
Employee Incentives                                3,554                  3,922
Employee Screening                                 3,358                  3,779
Equipment Rental                                  18,439                  9,585


<PAGE>



Food Costs                                       187,376                130,642
Furniture & Equipment Expense                     13,227                      0
Gloves                                             3,735                  2,015
Grease Trap                                        1,075                      0
HouseKeeping                                      11,448                  8,574
Insurance                                         95,144                112,134
Interest Expense                               1,178,929              1,026,782
Kitchen Supplies                                   2,437                  1,617
Laundry                                            3,596                  2,814
Lawn Care                                         18,002                 16,159
Licenses and Permits                               5,813                  2,646
Light Bulbs                                        1,022                    537
Linens                                               787                    285
Management Fees                                  146,244                 99,875
Miscellaneous                                        694                    534
Office Supplies                                    7,055                  5,643
Paper Goods                                        4,878                  3,571
Payroll Expenses                                 917,428                724,646
Pest Control                                       3,416                  3,020

Continue income statement

See accompanying notes


Senior Retirement Communities, Inc.                                       _ 5 _
Statements of Income
For the years ended December 31, 2001 and 2000

                                                   2001                   2000

Pet Supplies                             $           564                 $  444
Postage and Delivery                               7,579                  3,895
Printing and Reproduction                         14,947                 13,509
Professional Fees                                  5,570                 13,528
Promotion                                         11,591                  8,482
Rental Bonus                                       1,511                  3,113
Repairs                                           23,641                 12,479
Resident Gifts                                       912                  1,013
Taxes                                             49,448                 39,534
Telephone                                         18,275                 15,279
Training & Education                               2,189                  1,358
Travel and Entertainment                           7,831                  6,899
Uniforms                                           1,224                  1,856
Utilities                                        151,235                134,074


<PAGE>



Van Expense                                       24,396                 18,998
Waste Removal                                      4,087                  3,522
Wellness                                           1,152                    439
Workers Comp                                       3,651                      0
                                         ---------------        ---------------
Total expenses                                 3,269,073              2,753,704


Net Income (Loss)                 $           (1,226,975)         $  (1,303,898)
                                         ===============        ===============


Earnings (Loss) per share              $           (0.07)              $  (0.08)
                                         ===============        ===============



See accompanying notes


Senior Retirement Communities, Inc.                                      _ 6 _
Statement of Retained Earnings (Deficit)
For the years ended December 31, 2001 and 2000

                                                  2001                   2000


Beginning retained earnings (deficit)  $      (2,734,097)         $  (1,432,199)

Net income (loss)                             (1,226,975)            (1,301,898)


Ending retained earnings (deficit)     $      (3,961,072)         $  (2,734,097)
                                          ===============        ===============













<PAGE>



See accompanying notes


Senior Retirement Communities, Inc.                                    _ 7 _
Statement of Cash Flows
For the years ended December 31, 2001 and 2000

                                                 2001                   2000

Cash flows from operating activities:

  Revenues                                $    2,042,098           $  1,449,806
  Cash paid to suppliers and employees        (1,974,019)            (1,593,259)
                                          ---------------        --------------
Net cash provided (used) by operations           (68,079)              (143,453)

Cash flows from investing activities:
  Purchases of fixtures and equipment            (10,821)               (24,150)
  Payments toward construction                         0                (27,072)
                                          ---------------        --------------
Net cash  provided by (applied to)  investing
activities                                       (10,821)               (51,222)

Cash flows from financing activities:
  Payments on bonds                                    0               (602,250)
  Loans from stockholders and affiliates        (101,196)               241,914
                                         ---------------        ---------------
Net cash  provided by (applied to)  financing


<PAGE>



activities                                      (101,196)              (360,336)

Net increase (decrease) in cash                  (43,938)              (555,011)

Cash at the beginning of the period               68,635                623,646


Cash at the end of the period         $           24,697              $  68,635
                                         ===============        ===============










See accompanying notes


Senior Retirement Communities, Inc.                                     _ 8 _
Statement of Cash Flows
For the years ended December 31, 2001 and 2000

                                                    2001                   2000

Reconciliation of net income to net cash provided by operations:


Net income (loss) from operations         $   (1,226,975)         $  (1,301,898)

Adjustments to reconcile net income to cash provided by operations:
  Depreciation                                   229,924                226,708
  Decrease (increase) in prepaid expenses        (11,229)                (3,766)
  Increase (decrease) in accounts payable         24,825                  4,069
  Increase (decrease) in accrued interest
        on bonds                               1,051,534                931,434
                                          ______________         ______________

Net cash provided (used) by operations     $      68,079          $    (143,453)
                                          ===============        ==============






<PAGE>




See accompanying notes




<PAGE>



                                                                               9
                       Senior Retirement Communities, Inc.

                          Notes to Financial Statements


Note 1 _ Summary of Significant Accounting Policies

Nature of Business

The Company is a Louisiana  corporation  established to develop  assisted living
Centers and dementia  facilities for the housing and care of senior  citizens in
Ruston, Bossier City and Shreveport, Louisiana.

Basis of Accounting

The Company  uses the accrual  basis of  accounting  and will utilize a calendar
year for all reporting purposes.

Income Taxes

The Company is treated as a corporation for federal income tax purposes.

Property, Buildings, Equipment, and Depreciation

Buildings  and  equipment  are stated at cost and are to be  depreciated  by the
straight line method over their  estimated  economic  lives.  Buildings  include
capitalized  construction  period  interest which will be treated as a component
cost  of the  building  and  depreciated  over  the  same  economic  life as the
building.

Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affects certain reported amounts and  disclosures.  Accordingly,  actual results
could differ from those estimates.

Advertising

The Company  follows the policy of charging the costs of  advertising to expense
as incurred.





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                     Senior Retirement Communities, Inc.                   10

                          Notes to Financial Statements


Note 1 _ Summary of Significant Accounting Policies _ (continued)
-----------------------------------------------------------------

Deferred Charges

Deferred  charges  represent  the  costs  associated  with  obtaining  long_term
financing  for the  care  facilities  of the  Company.  These  costs  are  being
amortized over the life of the bonds using the effective interest rate method.

Basis of Presentation

The  accompanying  financial  statements  have been prepared in accordance  with
generally  accepted  accounting  principles and with instructions to From 10 KSB
and  Article 10 of  Regulation  S X. in  managements  opinion,  all  adjustments
(consisting of normal  recurring  adjustments)  considered  necessary for a fair
presentation of the financial  statements have been included.  Operating results
for the interim  periods are not always  indicative  of the results  that may be
expected for a full fiscal year.  These financial  statements  should be read in
conjunction  with the financial  statements  and notes  thereto  included in the
Company's Form 10 KSB.

Certain  reclassifications  have been made to  previously  reported  amounts  to
conform with the current presentation.

Note 2 _ Related Party Transactions

Due  to  stockholders  and  affiliates  consists  of  amounts  advanced  by  the
stockholders  and other related  entities.  This amount accrues  interest at the
current market rate.



<PAGE>



                   Senior Retirement Communities, Inc.                 11

                          Notes to Financial Statements



<PAGE>



Note 3 _ Long term Debt

Redeemable preferred stock

The  Preferred  Stock issued  accrues  dividends at the rate of four percent per
year for each of the first two years,  then six  percent  per year for the first
two years then at eight percent per year for the final two years.  The Preferred
Stock is  callable at the  Company's  option and shall be redeemed at the end of
the sixth year, if still outstanding.  The preferred shareholders have an option
to purchase  common stock at a twenty percent  discount at any time within eight
years of the  Preferred  stock issue  dates,  if the Company  issues  additional
common stock through a public offering.

Bonds Payable

On June 23, 1998, the Company's issue of $ 9,000,000 of bonds became  effective.
These bonds are to become the permanent  financing for the projects reflected in
this financial statement.  As of December 31, 2001, the status of these bonds is
as follows:

                                                                        Original
                                        Amount                  Amount
                     Location         Authorized              Outstanding

                      Ruston          $3,685,000              $3,291,750
                   Bossier City        3,470,000               3,023,750
                    Shreveport         1,845,000               1,834,500
                                       ---------               ---------

                      Totals          $9,000,000              $8,150,000
                                      ----------              ----------


These bonds have varying  interest  rates from 7.5 percent per to 11 percent per
annum. The maturity of these bonds is from one to twenty years. Bonds payable on
the balance sheet  reflects the accrued  interest due and is reflected net after
the deferred charges incurred is issuing and selling the bonds

During 2001, the Company  incurred $ 1,178,929 of interest  expense all of which
has been charged to operations.

Maturities of Long term debt

Maturities of the long term debt, as adjusted by the payment plans  disclosed in
Note 4 are as follows:

                Year ending
                December 31,                            Amount
                ___________                             ________
                  2002                                  $        0
                  2003                                   2,276,750
                  2004                                   1,047,750
                  2005                                     531,000
                  2006                                   1,874,500
                Thereafter                               2,845,000
                                                        __________
                                                        $8,575,000
                                                        ==========


                   Senior Retirement Communities, Inc.                    12

                          Notes to Financial Statements

Note 4 _ Going concern and subsequent events


<PAGE>


As a result of continuing  operating losses as a result of not achieving desired
occupancy levels, the Company filed a request on February 27, 2001 with Colonial
Trust Company,  who acts as agent for the  bondholders,  a request to extend all
principal and interest for four years.  This request includes amounts which were
already past due and amounts which would have become due by February 1, 2002. In
accordance  with  the  trust  indenture,   the  request  was  submitted  to  the
bondholders  for a vote on the  proposed  extension.  The  votes  were due to be
returned by March 27, 2001.  As of March 27, 2001,  bondholders  representing  $
122,250  of bonds out of the total of $  8,150,000  bonds  outstanding  voted to
reject the plan.  As a result of this vote,  the  request  to  postpone  certain
payments for a period of four years was  approved.  This proposal is intended to
provide the Company additional time to achieve full occupancy which should allow
for the future  payments to be paid as they become due.  Should the Company fail
to increase its occupancy levels, additional measures would become necessary for
the Company to remain a going concern.

As a continuing  part of the  Company's  effort to improve cash flow and provide
working capital for its operations,  the Company has adopted a plan to refinance
the debt on the Ruston  facility by selling the facility to a related  party who
would obtain  permanent  financing and liquidate the bond debt on that facility.
In  contemplation  of this move, the Company  transferred  the operations of the
Ruston  facility to the related  entity  effective  January 1, 2002. The Company
hopes that this sale can be completed in the early summer of 2002.




<PAGE>