Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01false2322truetrue 07358700 2022-04-01 2023-03-31 07358700 2021-04-01 2022-03-31 07358700 2023-03-31 07358700 2022-03-31 07358700 2021-04-01 07358700 c:Director8 2022-04-01 2023-03-31 07358700 d:Buildings 2022-04-01 2023-03-31 07358700 d:Buildings 2023-03-31 07358700 d:Buildings 2022-03-31 07358700 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07358700 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 07358700 d:Buildings d:LongLeaseholdAssets 2023-03-31 07358700 d:Buildings d:LongLeaseholdAssets 2022-03-31 07358700 d:FurnitureFittings 2022-04-01 2023-03-31 07358700 d:FurnitureFittings 2023-03-31 07358700 d:FurnitureFittings 2022-03-31 07358700 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07358700 d:ComputerEquipment 2022-04-01 2023-03-31 07358700 d:ComputerEquipment 2023-03-31 07358700 d:ComputerEquipment 2022-03-31 07358700 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07358700 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07358700 d:CurrentFinancialInstruments 2023-03-31 07358700 d:CurrentFinancialInstruments 2022-03-31 07358700 d:Non-currentFinancialInstruments 2023-03-31 07358700 d:Non-currentFinancialInstruments 2022-03-31 07358700 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07358700 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07358700 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07358700 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07358700 d:ShareCapital 2023-03-31 07358700 d:ShareCapital 2022-03-31 07358700 d:RevaluationReserve 2023-03-31 07358700 d:RevaluationReserve 2022-03-31 07358700 d:RetainedEarningsAccumulatedLosses 2023-03-31 07358700 d:RetainedEarningsAccumulatedLosses 2022-03-31 07358700 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07358700 c:OrdinaryShareClass1 2023-03-31 07358700 c:OrdinaryShareClass1 2022-03-31 07358700 c:FRS102 2022-04-01 2023-03-31 07358700 c:Audited 2022-04-01 2023-03-31 07358700 c:FullAccounts 2022-04-01 2023-03-31 07358700 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07358700 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07358700 5 2022-04-01 2023-03-31 07358700 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07358700 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 07358700 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 07358700 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 07358700 d:RetirementBenefitObligationsDeferredTax 2023-03-31 07358700 d:RetirementBenefitObligationsDeferredTax 2022-03-31 07358700 e:UnitedKingdom 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07358700










HARTFORD CARE (2) LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023



 
HARTFORD CARE (2) LIMITED
REGISTERED NUMBER: 07358700

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,086,532
6,017,684

Current assets
  

Debtors
 5 
132,046
112,145

Cash at bank and in hand
 6 
23,761
71,652

  
155,807
183,797

Creditors: amounts falling due within one year
 7 
(560,928)
(371,555)

Net current liabilities
  
 
 
(405,121)
 
 
(187,758)

Total assets less current liabilities
  
5,681,411
5,829,926

Creditors: amounts falling due after more than one year
 8 
(1,553,117)
(2,604,625)

Provisions for liabilities
  

Deferred tax
 9 
(263,848)
(245,344)

  
 
 
(263,848)
 
 
(245,344)

Net assets
  
3,864,446
2,979,957


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Revaluation reserve
  
1,141,207
1,141,207

Profit and loss account
  
2,722,239
1,837,750

  
3,864,446
2,979,957


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 on 6 November 2023.



K A Shaw
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company limited by shares (registered number 06299049) and registered in England and Wales. The address of the registered office and principal place of business is 2nd Floor, Clifton House, Bunnian Place, Basingstoke, Hampshire, RG21 7JE.
The Company's principal activity during the year under review was that of operating a residential care home.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Freehold property improvements
-
5% - 10% per annum on cost
Freehold Property
-
5% - 10% per annum on cost
Fixtures & fittings
-
10% - 50% per annum on cost
Computer equipment
-
20% - 50% per annum on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses 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.

 
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.

Page 3

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.8

Governments grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

  
2.9

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a seperate entity. Once the contributions have been paid the Company has no further payment obligations
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held seperately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2022 - 22).

Page 4

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property and Improvements
Property Improvements
Fixtures & fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
5,979,284
4,973
147,425
10,269
6,141,951


Additions
-
62,304
16,563
14,299
93,166



At 31 March 2023

5,979,284
67,277
163,988
24,568
6,235,117



Depreciation


At 1 April 2022
-
4,731
114,098
5,438
124,267


Charge for the year on owned assets
-
1,799
15,510
7,009
24,318



At 31 March 2023

-
6,530
129,608
12,447
148,585



Net book value



At 31 March 2023
5,979,284
60,747
34,380
12,121
6,086,532



At 31 March 2022
5,979,284
242
33,327
4,831
6,017,684


5.


Debtors

2023
2022
£
£



Trade debtors
112,599
95,865

Prepayments and accrued income
19,447
16,280

132,046
112,145



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,761
71,652


Page 5

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
36,620
55,060

Corporation tax
384,552
191,056

Other taxation and social security
9,755
13,550

Other creditors
35,712
33,704

Accruals and deferred income
94,289
78,185

560,928
371,555



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
1,553,117
2,604,625


The intercompany payable is unsecured and fully subordinated to any charges or rights accrued in connection with the Group loan facility. The intercompany payable is repayable on a rolling 367 day basis and accrues no interest.
The bank loan held by Hartford Care Group Limited is secured by an intercompany guarantee over the Group's assets.

Page 6

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
(245,344)
(179,606)


Credited/(charged) to profit & loss
(18,504)
(65,738)



At end of year
(263,848)
(245,344)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(69,627)
(245,344)

Short term differences
8,088
-

Capital gains/(losses)
(202,309)
-

(263,848)
(245,344)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



11.


Contingent liabilities

Along with fellow subsidiaries, the Company is a guarantor in the Facilities Agreement, entered into by Hartford Care Group Limited with National Westminster Bank plc. Under this agreement the bank holds a charge over its assets.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,646 (2022: £11,507). The total contributions payable to the fund at the balance sheet date were £Nil (2022: £129). 


13.


Related party transactions

The Company is exempt from disclosing related party transactions with other 100% owned members of the Group headed by Hartford Care Group Limited by virtue of FRS 102 section 33.1A. Balances due to members of the Group are disclosed in note 8.

Page 7

 
HARTFORD CARE (2) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

14.


Controlling party

The ultimate parent Company and the smallest and largest group in which the Company’s results are consolidated is Hartford Care Group Limited, a Company incorporated in England and Wales. The consolidated accounts of Hartford Care Group Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
There is no one ultimate controlling party.


15.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 7 November 2023 by Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.

Page 8