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Registration number: 10541100

Arrowsmith Care Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Arrowsmith Care Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Arrowsmith Care Homes Limited

Company Information

Director

Mr S Rajaratnam

Company secretary

Mr S Rajaratnam

Registered office

Arrowsmith Lodge
Bournes Row
Hoghton
Preston
Lanc
PR5 0DR

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Arrowsmith Care Homes Limited

(Registration number: 10541100)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

806,611

817,624

Current assets

 

Cash at bank and in hand

 

166,067

244,857

Creditors: Amounts falling due within one year

5

(53,811)

(73,458)

Net current assets

 

112,256

171,399

Total assets less current liabilities

 

918,867

989,023

Creditors: Amounts falling due after more than one year

5

(764,051)

(825,139)

Provisions for liabilities

(7,214)

(9,967)

Net assets

 

147,602

153,917

Capital and reserves

 

Called up share capital

100

100

Retained earnings

147,502

153,817

Shareholders' funds

 

147,602

153,917

 

Arrowsmith Care Homes Limited

(Registration number: 10541100)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 March 2024
 

.........................................
Mr S Rajaratnam
Company secretary and director

   
     
 

Arrowsmith Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Arrowsmith Lodge
Bournes Row
Hoghton
Preston
Lanc
PR5 0DR
England

These financial statements were authorised for issue by the director on 18 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Arrowsmith Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

The land and buildings is not being depreciated as its worth is at least the cost shown in the accounts.

Asset class

Depreciation method and rate

Fixtures and fittings

15% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 32 (2022 - 29).

 

Arrowsmith Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Property Improvements
£

Total
£

Cost or valuation

At 1 January 2023

777,756

123,025

-

900,781

Additions

-

4,377

4,377

8,754

At 31 December 2023

777,756

127,402

4,377

909,535

Depreciation

At 1 January 2023

-

83,157

-

83,157

Charge for the year

-

19,110

657

19,767

At 31 December 2023

-

102,267

657

102,924

Carrying amount

At 31 December 2023

777,756

25,135

3,720

806,611

At 31 December 2022

777,756

39,868

-

817,624

Included within the net book value of land and buildings above is £777,756 (2022 - £777,756) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

24,254

26,685

Taxation and social security

 

12,006

25,698

Accruals and deferred income

 

4,795

5,018

Other creditors

 

12,756

16,057

 

53,811

73,458

Creditors include bank loans which are secured on the property of £24,253.37 (2022 - £26,685.11).

 

Arrowsmith Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

610,180

677,782

Other non-current financial liabilities

 

153,871

147,357

 

764,051

825,139

Creditors include bank loans which are secured on the property of £358,300.13 (2022 - £379,383.24).

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

358,300

379,383

Other borrowings

251,880

298,399

610,180

677,782

2023
£

2022
£

Current loans and borrowings

Bank borrowings

24,254

26,685