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COMPANY REGISTRATION NUMBER: 05050196
Littlebourne House Limited
Financial Statements
28 February 2023
Littlebourne House Limited
Financial Statements
Year ended 28 February 2023
Contents
Page
Strategic report
1
Directors' report
2
Independent auditor's report to the members
4
Statement of income and retained earnings
8
Statement of financial position
9
Statement of cash flows
10
Notes to the financial statements
11
Littlebourne House Limited
Strategic Report
Year ended 28 February 2023
Principal activities and business review
The principle activity of the company during the year under review continued to be provision of a residential care home for the elderly. Turnover for the year is £3,975,074 (2022: £3,143,051) which represents an increase of 20.9% on the previous year. The directors consider the gross profit margin to be a key performance indicator. The gross profit margin increased from 50.4% to 54.6% in the current year. The overall result for the year is a profit before tax of £1,217,100 which has increased from a profit before tax of £1,049,745 in the previous year.
Future developments
The directors are continuing to monitor the impact of any changes within the industry and adjust the strategy of the company going forward. Work is continuing on the development and modification of the facilities to meet customer requirements.
Risks and uncertainties
The directors regularly assess the risks and uncertainties facing the company and consider how the company can address these risks. The directors believe that the key risks facing the company relate to compliance with external regulation, including the Care Quality Commission inspections. The directors address theses risks by way of a robust management structures, staff training and detailed business management procedures.
This report was approved by the board of directors on 28 November 2023 and signed on behalf of the board by:
Mr M J Moreland
Director
Registered office:
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
Littlebourne House Limited
Directors' Report
Year ended 28 February 2023
The directors present their report and the financial statements of the company for the year ended 28 February 2023 .
Directors
The directors who served the company during the year were as follows:
Mrs M Hussein
Mr M J Moreland
Dividends
Particulars of recommended dividends are detailed in note 13 to the financial statements.
Disclosure of information in the strategic report
The directors have chosen to incorporate their assessment of the performance of the business and the principal risks and uncertainties facing the company in the Strategic Report.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 28 November 2023 and signed on behalf of the board by:
Mr M J Moreland
Director
Registered office:
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
Littlebourne House Limited
Independent Auditor's Report to the Members of Littlebourne House Limited
Year ended 28 February 2023
Opinion
We have audited the financial statements of Littlebourne House Limited (the 'company') for the year ended 28 February 2023 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 28 February 2023 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered; the nature of the industry, control environment and business performance. We also consider the results of our enquiries of management and the Audit Committee, relating to their own identification and assessment of the risks of irregularities and possible related fraud. This includes reviewing available documentation on their policies and procedures and performing tests of controls to evidence their effectiveness. Throughout the audit testing we are considering the incentives that may exist within the organisation for fraud. Key areas include timing of recognising income around the year end, posting of unusual journals and manipulating the Company's performance measures to meet remuneration targets and bank covenants. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We ensure we have an understanding of the relevant laws and regulations and remain alert to possible non-compliance throughout the audit. Despite proper planning and audit work in accordance with auditing standards there are inherent limitations and unavoidable risk that we may not detect some irregularities and material misstatements in the financial statements. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Thomas Saltmer
(Senior Statutory Auditor)
For and on behalf of
Burgess Hodgson LLP
Chartered accountants & statutory auditor
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
28 November 2023
Littlebourne House Limited
Statement of Income and Retained Earnings
Year ended 28 February 2023
2023
2022
Note
£
£
Turnover
4
3,975,074
3,143,051
Cost of sales
1,806,360
1,560,580
------------
------------
Gross profit
2,168,714
1,582,471
Administrative expenses
832,555
727,847
Other operating income
5
53,458
248,015
------------
------------
Operating profit
6
1,389,617
1,102,639
Other interest receivable and similar income
10
28,070
30,678
Interest payable and similar expenses
11
200,587
83,572
------------
------------
Profit before taxation
1,217,100
1,049,745
Tax on profit
12
245,704
238,154
------------
------------
Profit for the financial year and total comprehensive income
971,396
811,591
------------
------------
Dividends paid and payable
13
( 200,000)
( 200,000)
Retained earnings at the start of the year
4,143,157
3,531,566
------------
------------
Retained earnings at the end of the year
4,914,553
4,143,157
------------
------------
All the activities of the company are from continuing operations.
Littlebourne House Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
14
4,341,595
4,376,476
Current assets
Stocks
15
10,000
10,000
Debtors
16
5,730,564
4,136,103
Cash at bank and in hand
319,997
------------
------------
6,060,561
4,146,103
Creditors: amounts falling due within one year
18
1,458,066
1,057,394
------------
------------
Net current assets
4,602,495
3,088,709
------------
------------
Total assets less current liabilities
8,944,090
7,465,185
Creditors: amounts falling due after more than one year
19
4,006,636
3,304,733
Provisions
Taxation including deferred tax
20
22,801
17,195
------------
------------
Net assets
4,914,653
4,143,257
------------
------------
Capital and reserves
Called up share capital
23
100
100
Profit and loss account
4,914,553
4,143,157
------------
------------
Shareholders funds
4,914,653
4,143,257
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr M J Moreland
Director
Company registration number: 05050196
Littlebourne House Limited
Statement of Cash Flows
Year ended 28 February 2023
2023
2022
Note
£
£
Cash flows from operating activities
Profit for the financial year
971,396
811,591
Adjustments for:
Depreciation of tangible assets
49,357
57,065
Government grant income
( 15,950)
( 227,374)
Other interest receivable and similar income
( 28,070)
( 30,678)
Interest payable and similar expenses
200,587
83,572
Loss on disposal of tangible assets
170,580
Tax on profit
245,704
238,154
Accrued (income)/expenses
( 4,787)
66,807
Changes in:
Trade and other debtors
( 1,594,461)
( 891,181)
Trade and other creditors
188,335
11,699
------------
---------
Cash generated from operations
12,111
290,235
Interest paid
( 200,587)
( 83,572)
Interest received
28,070
30,678
Tax paid
( 138,808)
( 243,021)
---------
---------
Net cash used in operating activities
( 299,214)
( 5,680)
---------
---------
Cash flows from investing activities
Purchase of tangible assets
( 14,476)
( 63,265)
Proceeds from sale of tangible assets
245,000
---------
---------
Net cash (used in)/from investing activities
( 14,476)
181,735
---------
---------
Cash flows from financing activities
Proceeds from borrowings
1,038,505
Repayments of borrowings
( 212,849)
( 553,966)
Government grant income
15,950
227,374
Dividends paid
( 200,000)
( 200,000)
------------
---------
Net cash from/(used in) financing activities
641,606
( 526,592)
------------
---------
Net increase/(decrease) in cash and cash equivalents
327,916
( 350,537)
Cash and cash equivalents at beginning of year
(7,919)
342,618
---------
---------
Cash and cash equivalents at end of year
17
319,997
( 7,919)
---------
---------
Littlebourne House Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - Purchase recognition - Directors recognise the purchases when significant risks and rewards of ownership are passed to them as buyer. They consider this has taken place on delivery and therefore record all deliveries not yet invoiced as accruals at the year end. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - Bad debt - Directors have included bad debt provisions for items due from customers in administration and any other debts which are in dispute have been reviewed and a proportion has been provided based on expected outcome.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
10% straight line
Plant and machinery
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value
Defined contributions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Turnover
Turnover arises from:
2023
2022
£
£
Rendering of services
3,975,074
3,143,051
------------
------------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income
2023
2022
£
£
Government grant income
15,950
227,374
Other operating income
37,508
20,641
--------
---------
53,458
248,015
--------
---------
6. Operating profit
Operating profit or loss is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
49,357
57,065
Loss on disposal of tangible assets
170,580
Impairment of trade debtors
49,725
--------
---------
7. Auditor's remuneration
2023
2022
£
£
Fees payable for the audit of the financial statements
10,000
8,500
--------
-------
8. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
2023
2022
No.
No.
Number of staff
74
68
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2023
2022
£
£
Wages and salaries
1,633,850
1,431,866
Social security costs
911
Other pension costs
12,172
12,000
------------
------------
1,646,933
1,443,866
------------
------------
9. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:
2023
2022
£
£
Remuneration
23,830
14,400
Company contributions to defined contribution pension plans
12,172
12,000
--------
--------
36,002
26,400
--------
--------
10. Other interest receivable and similar income
2023
2022
£
£
Interest on cash and cash equivalents
28,070
30,678
--------
--------
11. Interest payable and similar expenses
2023
2022
£
£
Interest on banks loans and overdrafts
200,587
76,393
Other interest payable and similar charges
7,179
---------
--------
200,587
83,572
---------
--------
12. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
240,098
235,324
Deferred tax:
Origination and reversal of timing differences
5,606
2,830
---------
---------
Tax on profit
245,704
238,154
---------
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2022: higher than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
2023
2022
£
£
Profit on ordinary activities before taxation
1,217,100
1,049,745
------------
------------
Profit on ordinary activities by rate of tax
231,249
199,452
Effect of expenses not deductible for tax purposes
7,070
34,145
Effect of capital allowances and depreciation
1,779
1,727
Movement in deferred tax provision
5,606
2,830
------------
------------
Tax on profit
245,704
238,154
------------
------------
13. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2023
2022
£
£
Dividends on equity shares
200,000
200,000
---------
---------
14. Tangible assets
Land and buildings
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 March 2022
4,247,046
375,860
175,369
4,798,275
Additions
14,476
14,476
------------
---------
---------
------------
At 28 February 2023
4,247,046
375,860
189,845
4,812,751
------------
---------
---------
------------
Depreciation
At 1 March 2022
89,064
247,832
84,903
421,799
Charge for the year
14,412
19,204
15,741
49,357
------------
---------
---------
------------
At 28 February 2023
103,476
267,036
100,644
471,156
------------
---------
---------
------------
Carrying amount
At 28 February 2023
4,143,570
108,824
89,201
4,341,595
------------
---------
---------
------------
At 28 February 2022
4,157,982
128,028
90,466
4,376,476
------------
---------
---------
------------
15. Stocks
2023
2022
£
£
Raw materials and consumables
10,000
10,000
--------
--------
16. Debtors
2023
2022
£
£
Trade debtors
386,258
153,784
Prepayments and accrued income
2,688
Directors loan account
1,462,912
1,138,641
Other debtors
3,881,394
2,840,990
------------
------------
5,730,564
4,136,103
------------
------------
17. Cash and cash equivalents
Cash and cash equivalents comprise the following:
2023
2022
£
£
Cash at bank and in hand
319,997
Bank overdrafts
( 7,919)
---------
-------
319,997
( 7,919)
---------
-------
18. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
237,496
121,662
Trade creditors
129,378
113,979
Accruals and deferred income
464,237
167,537
Corporation tax
480,821
379,531
Social security and other taxes
50,970
139,685
Other creditors
95,164
135,000
------------
------------
1,458,066
1,057,394
------------
------------
Bank loans and overdrafts are securred by way of a fixed and floating charge over the property and undertakings of the company.
19. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,006,636
3,304,733
------------
------------
Bank loans and overdrafts are securred by way of a fixed and floating charge over the property and undertakings of the company.
20. Provisions
Deferred tax (note 21)
£
At 1 March 2022
17,195
Additions
5,606
--------
At 28 February 2023
22,801
--------
21. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions (note 20)
22,801
17,195
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
22,801
17,195
--------
--------
22. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2023
2022
£
£
Recognised in other operating income:
Government grants recognised directly in income
15,950
227,374
--------
---------
23. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
24. Analysis of changes in net debt
At 1 Mar 2022
Cash flows
At 28 Feb 2023
£
£
£
Cash at bank and in hand
319,997
319,997
Bank overdrafts
(7,919)
7,919
Debt due within one year
(113,743)
(123,753)
(237,496)
Debt due after one year
(3,304,733)
(701,903)
(4,006,636)
------------
---------
------------
( 3,426,395)
( 497,740)
( 3,924,135)
------------
---------
------------
25. Directors' advances, credits and guarantees
During the current and previous year the following advances and repayments were made to/from the directors: A Director
2023 2022
£ £
Balance due to/(from) the company at the start of the year 85,207 95,341
Aggregate amounts advanced 92,405 66,442
Aggregate amounts repaid (80,000) (80,000)
Interest charged 2,545 3,424
--------- --------
Balance due to/(from) the company at the end of the year 100,157 85,207
--------- --------
A Director
2023 2022
£ £
Balance due to/(from) the company at the start of the year 1,053,434 1,242,468
Aggregate amounts advanced 404,295 242,638
Aggregate amounts repaid (120,000) (458,921)
Interest charged 25,026 27,249
------------ ------------
Balance due to/(from) the company at the end of the year 1,362,755 1,053,434
------------ ------------
Littlebourne House Limited
Notes to the Financial Statements (continued)
Year ended 28 February 2023
26. Related party transactions
At the year end the company was owed £198,644 (2022: £202,912) by companies associated by common control. At the year end the company owed £Nil (2022: £135,000) to companies associated by common control.
27. Controlling party
It is the opinion of the directors that there is no overall controlling party.