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Registration number: 05127161

The Churchley Rest Home Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

image-name
 

The Churchley Rest Home Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Churchley Rest Home Limited

Company Information

Director

KD Lewis

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

The Churchley Rest Home Limited

(Registration number: 05127161)
Balance Sheet as at 31 July 2023

Note

2023
 £

2022
 £

Fixed Assets

 

Tangible Assets

5

72,245

26,779

Other financial assets

6

423,874

175,913

 

496,119

202,692

Current assets

 

Stocks

1,000

-

Debtors

7

27,866

30,151

Cash at bank and in hand

 

403,941

569,354

 

432,807

599,505

Creditors: Amounts falling due within one year

8

(32,304)

(44,300)

Net current assets

 

400,503

555,205

Total assets less current liabilities

 

896,622

757,897

Provisions for liabilities

(17,804)

(4,645)

Net assets

 

878,818

753,252

Capital and Reserves

 

Called up share capital

100

100

Share premium reserve

7,167

7,167

Profit and loss account

871,551

745,985

Total equity

 

878,818

753,252

For the financial year ending 31 July 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 her 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 9 April 2024
 

 

The Churchley Rest Home Limited

(Registration number: 05127161)
Balance Sheet as at 31 July 2023

.........................................
KD Lewis
Director

   
     
 

The Churchley Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the director on 9 April 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.

The financial statements are presented in Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

The Churchley Rest Home Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

A deferred tax asset is only recognised when it is more likely than not that the asset will be recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing differences can be deducted.

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

20% Reducing balance

Computer equipment

20% Reducing balance

Leasehold improvements

10% On cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Churchley Rest Home Limited

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

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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, analysed by category was as follows:

2023
 No.

2022
 No.

Administration and support

16

14

16

14

4

Profit before tax

Arrived at after charging/(crediting)

 

The Churchley Rest Home Limited

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

2023
£

2022
£

Depreciation expense

12,513

7,940

5

Tangible Assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

-

31,731

26,554

58,285

Additions

12,241

1,288

44,450

57,979

At 31 July 2023

12,241

33,019

71,004

116,264

Depreciation

At 1 August 2022

-

19,888

11,618

31,506

Charge for the year

2,448

2,627

7,438

12,513

At 31 July 2023

2,448

22,515

19,056

44,019

Carrying amount

At 31 July 2023

9,793

10,504

51,948

72,245

At 31 July 2022

-

11,843

14,936

26,779

 

The Churchley Rest Home Limited

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

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 August 2022

175,913

175,913

Additions

425,755

425,755

Revaluations

(1,881)

(1,881)

Disposals

(175,913)

(175,913)

At 31 July 2023

423,874

423,874

Impairment

Carrying amount

At 31 July 2023

423,874

423,874

7

Debtors

Current

2023
£

2022
£

Prepayments

6,649

6,674

Other debtors

21,217

23,477

 

The Churchley Rest Home Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
 £

2022
 £

Due within one year

 

Trade Creditors

 

2,915

2,950

Social security and other taxes

 

2,844

2,500

Outstanding defined contribution pension costs

 

490

778

Other payables

 

-

7,881

Accrued expenses

 

2,096

2,035

Corporation tax liability

23,959

28,156

 

32,304

44,300

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

90,000

90,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £90,000 (2022 - £90,000).

 

The Churchley Rest Home Limited

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

10

Related party transactions

Key management personnel

Transactions with directors

Loans to related parties

2023

Key management
£

At start of period

23,477

Advanced

20,977

Repaid

(23,477)

At end of period

20,977

2022

Key management
£

Total
£

At start of period

38,553

38,553

Advanced

23,477

23,477

Repaid

(38,553)

(38,553)

At end of period

23,477

23,477

 

Key management

2023
£

2022
£

At start of period

23,477

38,553

Advanced

20,977

23,477

Repaid

(23,477)

(38,553)

At end of period

20,977

23,477

Terms of loans to related parties

During the year the company provided the director with a loan. The loan was interest free, unsecured and repaid following the balance sheet date.