Company registration number 07164067 (England and Wales)
HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
BALANCE SHEET
AS AT
30 MARCH 2023
30 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
492,000
533,000
Tangible assets
4
1,247,155
1,272,230
1,739,155
1,805,230
Current assets
Debtors
5
59,537
139,295
Cash at bank and in hand
202,933
237,026
262,470
376,321
Creditors: amounts falling due within one year
6
(161,840)
(221,440)
Net current assets
100,630
154,881
Total assets less current liabilities
1,839,785
1,960,111
Creditors: amounts falling due after more than one year
7
(459,373)
(479,635)
Provisions for liabilities
10
(8,209)
(10,608)
Net assets
1,372,203
1,469,868
Capital and reserves
Called up share capital
9
1,200,100
1,200,100
Profit and loss reserves
172,103
269,768
Total equity
1,372,203
1,469,868

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2023
30 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 March 2024 and are signed on its behalf by:
J S Hunt
Director
Company Registration No. 07164067
HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
- 3 -
1
Accounting policies
Company information

Hillcrest & Lyndale Care & Support Services Limited (the "Company") is a private company limited by shares incorporated in England and Wales, registered number 07164067. The registered office is 6 Hill Close, Pontefract, West Yorkshire, WF8 2SF.

 

The principal activity of the Company continued to be providing residential nursing care facilities.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 4% straight line.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
50 years straight line
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
Other fixed assets
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

 

The UK government has offered a range of financial support packages to help companies, including government backed financing arrangements, furlough schemes, deferment of VAT payments and, for some sectors, business rates holidays.

 

In the prior year the Company used the furlough scheme, council grants, infection control grants and rapid testing funds. The income from the furlough scheme and grants were recognised within 'Other operating income'. They are recognised when the entity has reasonable assurance that they will comply with the conditions attached to the grant, and that the grant will be received.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
61
54
3
Intangible fixed assets
Goodwill
£
Cost
At 31 March 2022 and 30 March 2023
1,025,000
Amortisation and impairment
At 31 March 2022
492,000
Amortisation charged for the year
41,000
At 30 March 2023
533,000
Carrying amount
At 30 March 2023
492,000
At 30 March 2022
533,000
HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
- 7 -
4
Tangible fixed assets
Freehold property
Fixtures and fittings
Motor vehicles
Other fixed assets
Total
£
£
£
£
£
Cost or valuation
At 31 March 2022
1,301,126
102,017
63,006
8,186
1,474,335
Additions
-
0
-
0
4,925
-
0
4,925
Disposals
-
0
-
0
(10,400)
-
0
(10,400)
At 30 March 2023
1,301,126
102,017
57,531
8,186
1,468,860
Depreciation and impairment
At 31 March 2022
86,073
53,587
55,378
7,067
202,105
Depreciation charged in the year
18,216
7,265
3,134
168
28,783
Eliminated in respect of disposals
-
0
-
0
(9,183)
-
0
(9,183)
At 30 March 2023
104,289
60,852
49,329
7,235
221,705
Carrying amount
At 30 March 2023
1,196,837
41,165
8,202
951
1,247,155
At 30 March 2022
1,215,053
48,430
7,628
1,119
1,272,230

The directors are of the opinion that there has been no change in the value of the freehold property.

If the property had been accounted for under the historical cost accounting rules, the freehold property would have been measured as follows:

2023
2022
£
£
Historical cost
1,188,990
1,188,990
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
51,724
40,265
Prepayments and accrued income
7,813
99,030
59,537
139,295
HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
- 8 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
20,262
23,292
Trade creditors
1,410
-
0
Corporation tax
2,525
62,554
Other taxation and social security
35,570
27,929
Deferred income
1,148
4,848
Other creditors
78,171
58,444
Accruals
22,754
44,373
161,840
221,440

The bank loans due in less than one year of £20,262 (2022: £23,292) are secured by way of a charge against the properties at Lyndale, 2 Hill Close and 10 Hill Close, by means of a debenture and an all monies guarantee from the directors for a principal amount of £195,000, plus interest and other costs as detailed in the guarantee.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
109,373
129,635
Other borrowings
350,000
350,000
459,373
479,635

The bank loans due in greater than one year of £109,373 (2022: £129,635) are secured by way of a charge against the properties at Lyndale, 2 Hill Close and 10 Hill Close, by means of a debenture and an all monies guarantee from the directors for a principal amount of £195,000, plus interest and other costs as detailed in the guarantee.

Amounts included above which fall due after five years are as follows:
Payable by instalments
19,905
43,604
HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
- 9 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
5,857
8,478
Capital gains
2,352
2,130
8,209
10,608
2023
Movements in the year:
£
Liability at 31 March 2022
10,608
Credit to profit or loss
(2,399)
Liability at 30 March 2023
8,209
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
504,042
504,042
504,042
504,042
Ordinary B shares of £1 each
504,042
504,042
504,042
504,042
Ordinary C shares of £1 each
96,008
96,008
96,008
96,008
Ordinary D shares of £1 each
96,008
96,008
96,008
96,008
1,200,100
1,200,100
1,200,100
1,200,100
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Redeemable preference shares of £1 each
350,000
350,000
350,000
350,000
Preference shares classified as liabilities
350,000
350,000

The Preference shares are redeemable at the option of the Company, no premium is payable on redemption.

HILLCREST & LYNDALE CARE & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2023
- 10 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
5,181
6,477
5,181
6,477
11
Related party transactions

The directors have loaned the Company monies to assist with working capital requirements.

 

The following amounts were outstanding, due to the directors, at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Amounts due to directors
47,347
55,846
2023-03-302022-03-31false06 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityC M HuntJ S HuntP J HuntL M Huntfalse071640672022-03-312023-03-30071640672023-03-30071640672022-03-3007164067core:NetGoodwill2023-03-3007164067core:NetGoodwill2022-03-3007164067core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3007164067core:FurnitureFittings2023-03-3007164067core:MotorVehicles2023-03-3007164067core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-3007164067core:LandBuildingscore:OwnedOrFreeholdAssets2022-03-3007164067core:FurnitureFittings2022-03-3007164067core:MotorVehicles2022-03-3007164067core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-3007164067core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3007164067core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3007164067core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3007164067core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3007164067core:CurrentFinancialInstruments2023-03-3007164067core:CurrentFinancialInstruments2022-03-3007164067core:Non-currentFinancialInstruments2023-03-3007164067core:Non-currentFinancialInstruments2022-03-3007164067core:ShareCapital2023-03-3007164067core:ShareCapital2022-03-3007164067core:RetainedEarningsAccumulatedLosses2023-03-3007164067core:RetainedEarningsAccumulatedLosses2022-03-3007164067core:ShareCapitalOrdinaryShares2023-03-3007164067core:ShareCapitalOrdinaryShares2022-03-3007164067bus:Director22022-03-312023-03-3007164067core:Goodwill2022-03-312023-03-3007164067core:MotorVehicles2022-03-312023-03-3007164067core:LandBuildingscore:OwnedOrFreeholdAssets2022-03-312023-03-3007164067core:FurnitureFittings2022-03-312023-03-3007164067core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-312023-03-30071640672021-04-012022-03-3007164067core:NetGoodwill2022-03-3007164067core:NetGoodwill2022-03-312023-03-3007164067core:LandBuildingscore:OwnedOrFreeholdAssets2022-03-3007164067core:FurnitureFittings2022-03-3007164067core:MotorVehicles2022-03-3007164067core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-30071640672022-03-3007164067core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-312023-03-3007164067core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-312023-03-3007164067core:WithinOneYear2023-03-3007164067core:WithinOneYear2022-03-3007164067bus:PrivateLimitedCompanyLtd2022-03-312023-03-3007164067bus:SmallCompaniesRegimeForAccounts2022-03-312023-03-3007164067bus:FRS1022022-03-312023-03-3007164067bus:AuditExemptWithAccountantsReport2022-03-312023-03-3007164067bus:Director12022-03-312023-03-3007164067bus:Director32022-03-312023-03-3007164067bus:Director42022-03-312023-03-3007164067bus:FullAccounts2022-03-312023-03-30xbrli:purexbrli:sharesiso4217:GBP