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Registered number: 07144630











ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023
















TWP ACCOUNTING LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

COMPANY INFORMATION


Director
Z Denning 




Registered number
07144630



Registered office
The Old Rectory
Church Street

Weybridge

Surrey

KT13 8DE




Independent auditor
TWP Accounting LLP
Chartered Accountants & Statutory Auditors

The Old Rectory

Church Street

Surrey

KT13 8DE





 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
REGISTERED NUMBER: 07144630

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
86,372
180,590

Tangible assets
 6 
2,429,221
2,190,861

  
2,515,593
2,371,451

Current assets
  

Debtors: amounts falling due within one year
 7 
112,973
290,350

Cash at bank and in hand
 8 
-
35,400

  
112,973
325,750

Creditors: amounts falling due within one year
 9 
(645,835)
(1,031,139)

Net current liabilities
  
 
 
(532,862)
 
 
(705,389)

Total assets less current liabilities
  
1,982,731
1,666,062

Provisions for liabilities
  

Deferred tax
 10 
(25,021)
(17,533)

  
 
 
(25,021)
 
 
(17,533)

Net assets
  
1,957,710
1,648,529


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
 12 
1,957,709
1,648,528

  
1,957,710
1,648,529


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 30 January 2024.



................................................
Z Denning
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Orangery Care Ltd (Formerly MP Hants Limited) is a private company limited by shares, incorporated in England and Wales. The principal activity of the company is operating a nursing and residential home for the elderly. The registered office address is given in the company information page of these financial statements.
The company's principal place of business is:
Orangery Care Home
116 Church Lane East
Aldershot
Hampshire
GU11 3HN
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of residential care home services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Intangible assets - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquire at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.There are no indicators of impairment, with the company continuing to achieve good underlying profit and cash flows.
Amortisation is provided at the following rates:
Goodwill                               -         10 years straight line
The company's director will undertake impairment reviews on an annual basis, or more frequently if there is an indication that the carrying value may be impaired.

 
2.4

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

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Land is not depreciated.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Office equipment
-
25%
reducing balance

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.

 
2.5

Debtors

Short term debtors are measured at transaction price, 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. 

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Government grants

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

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

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 separate 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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 balance sheet 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 balance sheet 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 balance sheet date.

Page 4

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Care home staff
76
76


5.


Intangible assets




Goodwill

£



Cost


At 1 May 2022
1,125,000



At 30 April 2023

1,125,000



Amortisation


At 1 May 2022
944,410


Charge for the year on owned assets
94,218



At 30 April 2023

1,038,628



Net book value



At 30 April 2023
86,372



At 30 April 2022
180,590



Page 5

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Tangible fixed assets





Freehold property
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2022
2,115,763
186,009
2,301,772


Additions
246,663
46,827
293,490


Disposals
-
(36,194)
(36,194)



At 30 April 2023

2,362,426
196,642
2,559,068



Depreciation


At 1 May 2022
-
110,911
110,911


Charge for the year on owned assets
24,671
26,911
51,582


Disposals
-
(32,646)
(32,646)



At 30 April 2023

24,671
105,176
129,847



Net book value



At 30 April 2023
2,337,755
91,466
2,429,221



At 30 April 2022
2,115,763
75,098
2,190,861

Page 6

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Debtors

2023
2022
£
£


Trade debtors
44,830
123,651

Amounts owed by group undertakings
67,509
151,883

Prepayments and accrued income
634
14,816

112,973
290,350



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
35,400

Less: bank overdrafts
(4,162)
-

(4,162)
35,400



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
4,162
-

Trade creditors
73,394
172,358

Amounts owed to group undertakings
163,286
421,125

Other taxation and social security
139,798
208,558

Other creditors
154,898
133,645

Accruals and deferred income
110,297
95,453

645,835
1,031,139


Page 7

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Deferred taxation




2023


£






At beginning of year
(17,533)


Charged to profit or loss
(7,488)



At end of year
(25,021)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(25,021)
(17,533)

(25,021)
(17,533)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



12.


Reserves

Profit and loss account

The profit and loss account represents profits and losses net of adjustments.


13.


Contingent liabilities

The company received enquiries into the treatment of purchased goodwill during 2010-2011. In 2020 HM Revenue and Customs have issued the company with a Stamp Duty Land Tax Discovery Assessment, which the company is appealing against on the grounds that the company has taken advice and believes the demands to be wrong in law. In April 2023 the company lodged their appeal to a first-tier tribunal, and subsequently HM Revenue and Customs have issued their amended statement of case in December 2023 to the first-tier tribunal. At the date of signing the financial statements, the verdict of the first-tier tribunal is yet to be determined. There is a possible obligation of £38,658 payable to HM Revenue and Customs should the first-tier tribunal rule in favour of HM Revenue and Customs. Due to the uncertainty surrounding this matter, no provision has been included within these financial statements.

Page 8

 
ORANGERY CARE LTD (FORMERLY MP HANTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

14.


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 £38,272 (2022 - £38,386). Contributions totalling £6,854 (2022 - £9,244) were payable to the fund at the balance sheet date.


15.


Director's benefits: Advances, Credit and Guarantees

At the beginning of the year the company was owed £nil from Z Denning, the director. During the year advances totalling £151,000 were made to the director, total repayments of £152,094 were received from the director. The interest on the balances due to the company is charged at the rate of 2% and totalled £1,094 for the year. At the balance sheet date the balance due from the director was £nil.


16.


Related party transactions

During the year the company paid rent of £Nil (2022 - £225,000) to the director Z Denning in respect of the care home out of which the company operates.
The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS 102 and therefore transactions with group companies have not been disclosed.


17.


Controlling party

The parent undertaking is Jasmine Care Holdings Limited, a company incorporated in England and Wales. The ultimate parent undertaking is Jasmine Care Group Limited, a company incorporated in England and Wales. Jasmine Care Group Limited is the parent of the largest group in which the Company is consolidated. Copies of the accounts of Jasmine Care Group Limited are available at the parent company's registered office address The Old Rectory, Church Street, Weybridge, Surrey, England, KT13 8DE.
The ultimate controlling party is Qubic Trustees Ltd in its capacity as trustee of The Jasmine Care Holdings Limited Trust (the Trust) by virtue of its majority shareholding of the Group’s ultimate parent undertaking.
Qubic Trustees Ltd is registered in England and Wales and its registered office is St Ann's Quay, 118 Quayside, Newcastle Upon Tyne, United Kingdom, NE1 3BD.


18.


Auditor's information

The auditor's report on the financial statements for the year ended 30 April 2023 was unqualified.

The audit report was signed on 30 January 2024 by Philip Munk FCA FCCA (Senior Statutory Auditor) on behalf of TWP Accounting LLP.

This report is made solely to the company’s members, as a body, in accordance with Sections 495 and 496 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.


Page 9