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Registration number: 05201011

Arrowsmith Rest Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Arrowsmith Rest Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Arrowsmith Rest Homes Limited

Company Information

Directors

Mr S Rajaratnam

Mrs 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 Rest Homes Limited

(Registration number: 05201011)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

336,000

329,628

Current assets

 

Debtors

6

164,322

118,066

Cash at bank and in hand

 

265,455

474,713

 

429,777

592,779

Creditors: Amounts falling due within one year

7

(14,469)

(48,986)

Net current assets

 

415,308

543,793

Total assets less current liabilities

 

751,308

873,421

Creditors: Amounts falling due after more than one year

7

(17,559)

(26,426)

Provisions for liabilities

(13,840)

(10,234)

Net assets

 

719,909

836,761

Capital and reserves

 

Called up share capital

2

2

Retained earnings

719,907

836,759

Shareholders' funds

 

719,909

836,761

 

Arrowsmith Rest Homes Limited

(Registration number: 05201011)
Balance Sheet as at 31 August 2023

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 February 2024 and signed on its behalf by:
 

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

 

Arrowsmith Rest Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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 Board on 29 February 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.

 

Arrowsmith Rest Homes Limited

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

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.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

15% Straight line

Motor vehicles

25% Reducing balance

Equipment

33% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

 

Arrowsmith Rest Homes Limited

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

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 directors) during the year, was 64 (2022 - 59).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

56,000

56,000

At 31 August 2023

56,000

56,000

Amortisation

At 1 September 2022

56,000

56,000

At 31 August 2023

56,000

56,000

Carrying amount

At 31 August 2023

-

-

 

Arrowsmith Rest Homes Limited

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

272,742

200,617

16,700

490,059

Additions

7,900

16,300

-

24,200

At 31 August 2023

280,642

216,917

16,700

514,259

Depreciation

At 1 September 2022

-

143,730

16,700

160,430

Charge for the year

-

17,829

-

17,829

At 31 August 2023

-

161,559

16,700

178,259

Carrying amount

At 31 August 2023

280,642

55,358

-

336,000

At 31 August 2022

272,742

56,886

-

329,628

6

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

147,357

118,066

Other debtors

 

16,965

-

 

164,322

118,066

 

Arrowsmith Rest Homes Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,971

11,074

Taxation and social security

 

-

33,795

Accruals and deferred income

 

3,733

3,733

Other creditors

 

765

384

 

14,469

48,986

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

17,559

26,426

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

17,559

26,426

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,971

11,074

A debenture has been lodged at Companies House, in favour of Lloyds Bank, with fixed and floating charges over all assets, dated 6th February 2018.