Registered number
04935302
Hillswood Care Limited
Filleted Accounts
30 November 2023
Hillswood Care Limited
Registered number: 04935302
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 683,943 690,657
Current assets
Debtors 4 122,478 132,243
Cash at bank and in hand 79,971 44,748
202,449 176,991
Creditors: amounts falling due within one year 5 (516,146) (483,597)
Net current liabilities (313,697) (306,606)
Total assets less current liabilities 370,246 384,051
Creditors: amounts falling due after more than one year 6 (17,410) (27,056)
Provisions for liabilities (9,400) (14,400)
Net assets 343,436 342,595
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 109,581 112,424
Profit and loss account 233,755 230,071
Shareholders' funds 343,436 342,595
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 members have 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.
R Smith
Director
Approved by the board on 19 February 2024
Hillswood Care Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20 - 25% reducing balance
Fixtures, fittings, tools and equipment 21 - 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 30 28
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 725,000 15,740 12,252 752,992
Additions - 11,268 - 11,268
At 30 November 2023 725,000 27,008 12,252 764,260
Depreciation
At 1 December 2022 47,000 7,067 8,268 62,335
Charge for the year 12,000 4,986 996 17,982
At 30 November 2023 59,000 12,053 9,264 80,317
Net book value
At 30 November 2023 666,000 14,955 2,988 683,943
At 30 November 2022 678,000 8,673 3,984 690,657
Freehold land and buildings: 2023 2022
£ £
Historical cost 582,426 582,426
Cumulative depreciation based on historical cost 44,982 35,833
537,444 546,593
Freehold property was valued at open market value on 30 November 2020 by the directors.
4 Debtors 2023 2022
£ £
Trade debtors 24,435 16,954
Amounts owed by group undertakings and undertakings in which the company has a participating interest 97,973 114,789
Other debtors 70 500
122,478 132,243
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,801 9,805
Trade creditors 31,986 32,230
Taxation and social security costs 48,779 26,974
Other creditors 425,580 414,588
516,146 483,597
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,410 27,056
7 Revaluation reserve 2023 2022
£ £
At 1 December 2022 112,424 115,267
Transfer depreciation (2,843) (2,843)
At 30 November 2023 109,581 112,424
8 Other information
Hillswood Care Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Hub
40 Friar ane
Nottingham
NG1 6DG
Hillswood Care Limited 04935302 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts October 2023 release 2 R Smith No description of principal activity 04935302 2021-12-01 2022-11-30 04935302 core:RevaluationReserve core:LandBuildings 2021-12-01 2022-11-30 04935302 core:WithinOneYear 2022-11-30 04935302 core:AfterOneYear 2022-11-30 04935302 core:ShareCapital 2022-11-30 04935302 core:OtherReservesSubtotal 2022-11-30 04935302 core:RetainedEarningsAccumulatedLosses 2022-11-30 04935302 core:RevaluationReserve 2021-11-30 04935302 2022-12-01 2023-11-30 04935302 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04935302 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04935302 bus:Director40 2022-12-01 2023-11-30 04935302 1 2022-12-01 2023-11-30 04935302 2 2022-12-01 2023-11-30 04935302 core:LandBuildings 2022-12-01 2023-11-30 04935302 core:PlantMachinery 2022-12-01 2023-11-30 04935302 core:Vehicles 2022-12-01 2023-11-30 04935302 core:RevaluationReserve core:LandBuildings 2022-12-01 2023-11-30 04935302 countries:England 2022-12-01 2023-11-30 04935302 bus:FRS102 2022-12-01 2023-11-30 04935302 bus:FullAccounts 2022-12-01 2023-11-30 04935302 2023-11-30 04935302 core:WithinOneYear 2023-11-30 04935302 core:AfterOneYear 2023-11-30 04935302 core:ShareCapital 2023-11-30 04935302 core:OtherReservesSubtotal 2023-11-30 04935302 core:RetainedEarningsAccumulatedLosses 2023-11-30 04935302 core:LandBuildings 2023-11-30 04935302 core:PlantMachinery 2023-11-30 04935302 core:Vehicles 2023-11-30 04935302 core:RevaluationReserve 2023-11-30 04935302 2022-11-30 04935302 core:LandBuildings 2022-11-30 04935302 core:PlantMachinery 2022-11-30 04935302 core:Vehicles 2022-11-30 04935302 core:RevaluationReserve 2022-11-30 iso4217:GBP xbrli:pure