Morar Lodge Nursing Home Limited |
Registered number: |
SC091469 |
Directors' Report |
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The directors present their report and accounts for the year ended 31 March 2023. |
Principal activities |
The company's principal activity during the year continued to be the provision of the highest standard of care for the elderly. As in previous years this includes both private and local authority funded residents. Morar Lodge enjoys an excellent reputation within the care sector and consistently achieves quality grades 5 and 6 from the Care Inspectorate, reflecting the quality of care provided and ongoing investment made in staff training and development. It has previously been awarded 'Excellence in 24 Hr Care' by the Care Review Board of the Houses of Parliament in 2015. Morar Lodge Care Home prides itself on achieving consistently high occupancy levels throughout the year and boasts a healthy waiting list due to its reputation and high regard with which it is held within the local area. The company is committed to the upkeep and maintenance of its assets with regular investment in its property portfolio achieving a high quality standard that meets, and often exceeds, the statutory requirements of the care inspectorate. Further, the company also strives to maintain a versatile approach to meet the ever-changing needs of its residents. Covid The homes management decided to close the home to all new referals and visitors in early March 2020. This decision was taken prior to the national lockdown in the interests of the staff and residents. The home has continued to operate at a slightly reduced occupancy. Regular staff testing is now in place and there has been no confirmed cases of Covid associated with the staff or residents. The business has benefited from the Furlough scheme for non essential staff and the local authority empty bed supplement payments. A Business Bounce back loan was recieved in June 2020, this facility was not required and has been repaid in full on 22nd March 2021. Outlook With an eye on the future, the company has been successful in having planning permission granted to extend and develop a 16 bed new build facility for older people services. This will be incorporated with the main Morar Lodge creating an overall 42 single bed site, 4 of which have the option to be used as double rooms to accommodate family members. An application to extend this persission was made in August 2020. |
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Directors |
The following persons served as directors during the year: |
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Helena Dormer |
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Nadine Dormer |
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 21 November 2023 and signed on its behalf. |
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Helena Dormer |
Director |
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Morar Lodge Nursing Home Limited |
Registered number: |
SC091469 |
Balance Sheet |
as at 31 March 2023 |
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Notes |
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|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
626,241 |
|
|
635,959 |
|
Current assets |
Stocks |
|
|
7,000 |
|
|
6,700 |
Debtors |
5 |
|
31,108 |
|
|
72,013 |
Cash at bank and in hand |
|
|
75,521 |
|
|
21,903 |
|
|
|
113,629 |
|
|
100,616 |
|
Creditors: amounts falling due within one year |
6 |
|
(50,379) |
|
|
(72,983) |
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Net current assets |
|
|
|
63,250 |
|
|
27,633 |
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Total assets less current liabilities |
|
|
|
689,491 |
|
|
663,592 |
|
|
Provisions for liabilities |
|
|
|
(52,366) |
|
|
(50,981) |
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|
Net assets |
|
|
|
637,125 |
|
|
612,611 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Revaluation reserve |
7 |
|
|
68,263 |
|
|
72,484 |
Profit and loss account |
|
|
|
568,762 |
|
|
540,027 |
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Shareholder's funds |
|
|
|
637,125 |
|
|
612,611 |
|
|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
Helena Dormer |
Director |
Approved by the board on 21 November 2023 |
|
Morar Lodge Nursing Home Limited |
Notes to the Accounts |
for the year ended 31 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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The turnover shown in the profit and loss account represents the value of all services delivered at selling price exclusive of Value Added Tax. Turnover is recognised as the care service is provided. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
2% straight line |
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Plant and machinery |
15% reducing balance |
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Motor vehicles |
25% straight line |
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Stocks |
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Stocks are measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost represents purchase price. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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Taxation for the year comprises current and deferred tax. A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Under previous UK GAAP the company was not required to provide deferred taxation on revaluation, unless the Company had entered into a binding sale agreementand recognised the gain or loss expected to arise. Under FRS102 deferred taxation is provided on the temporary diference arising from the revaluation. A deferred tax charge of £33,400 arose on transition to FRS 102. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Taxation |
2023 |
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2022 |
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Analysis of the tax charge for the year was as follows:- |
£ |
£ |
|
|
UK corporation tax |
13,465 |
|
13,553 |
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Deferred tax |
1,385 |
|
3,012 |
|
|
|
|
|
|
|
14,850 |
|
16,565 |
|
|
|
|
|
|
|
|
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3 |
Employees |
2023 |
|
2022 |
Number |
Number |
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Average number of persons employed by the company |
39 |
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39 |
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|
|
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|
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4 |
Tangible fixed assets |
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|
|
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Land and buildings |
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Plant and machinery etc |
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Total |
£ |
£ |
£ |
|
Cost |
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At 1 April 2022 |
1,010,573 |
|
401,761 |
|
1,412,334 |
|
Additions |
- |
|
29,182 |
|
29,182 |
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At 31 March 2023 |
1,010,573 |
|
430,943 |
|
1,441,516 |
|
|
|
|
|
|
|
|
|
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Depreciation |
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At 1 April 2022 |
470,028 |
|
306,347 |
|
776,375 |
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Charge for the year |
20,211 |
|
18,689 |
|
38,900 |
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At 31 March 2023 |
490,239 |
|
325,036 |
|
815,275 |
|
|
|
|
|
|
|
|
|
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Net book value |
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At 31 March 2023 |
520,334 |
|
105,907 |
|
626,241 |
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At 31 March 2022 |
540,545 |
|
95,414 |
|
635,959 |
|
|
|
|
|
|
|
|
|
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Freehold land and buildings: |
2023 |
|
2022 |
£ |
£ |
|
Historical cost |
807,677 |
|
807,677 |
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Cumulative depreciation based on historical cost |
266,492 |
|
266,492 |
|
|
|
|
|
|
541,185 |
|
541,185 |
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|
5 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
30,686 |
|
55,188 |
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Other debtors |
422 |
|
16,825 |
|
|
|
|
|
|
31,108 |
|
72,013 |
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|
|
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|
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Included in Other debtors is a Directors Loan to |
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Mrs H Dormer 2023 £351, 2022 £351 |
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Trade creditors |
14,395 |
|
12,576 |
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Corporation tax |
13,465 |
|
13,553 |
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Other taxes and social security costs |
22,519 |
|
24,264 |
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Other creditors |
- |
|
22,590 |
|
|
|
|
|
|
50,379 |
|
72,983 |
|
|
|
|
|
|
|
|
|
|
|
|
7 |
Revaluation reserve |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 April 2022 |
72,484 |
|
76,705 |
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Loss on revaluation of land and buildings |
(4,221) |
|
(4,221) |
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At 31 March 2023 |
68,263 |
|
72,484 |
|
|
|
|
|
|
|
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|
8 |
Controlling party |
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The ultimate controlling party is Mrs Helena Dormer |
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9 |
Other information |
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Morar Lodge Nursing Home Limited is a private company limited by shares and incorporated in Scotland. Its registered office is: |
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54 Glasgow Street |
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Helensburgh |
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Argyll & Bute |
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G84 9NS |