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Company No: 11646891 (England and Wales)

DENE COURT CARE HOME LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

DENE COURT CARE HOME LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

DENE COURT CARE HOME LIMITED

BALANCE SHEET

As at 31 July 2023
DENE COURT CARE HOME LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 146,500 175,800
Tangible assets 4 202,397 143,258
348,897 319,058
Current assets
Debtors 5 67,881 119,336
Cash at bank and in hand 69,985 48,406
137,866 167,742
Creditors: amounts falling due within one year 6 ( 350,484) ( 344,043)
Net current liabilities (212,618) (176,301)
Total assets less current liabilities 136,279 142,757
Creditors: amounts falling due after more than one year 7 ( 18,187) ( 24,751)
Provision for liabilities 8 ( 50,599) ( 35,350)
Net assets 67,493 82,656
Capital and reserves
Called-up share capital 1 1
Profit and loss account 67,492 82,655
Total shareholder's funds 67,493 82,656

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.

Directors' responsibilities:

The financial statements of Dene Court Care Home Limited (registered number: 11646891) were approved and authorised for issue by the Board of Directors on 19 April 2024. They were signed on its behalf by:

K A Tills
Director
DENE COURT CARE HOME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
DENE COURT CARE HOME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dene Court Care Home Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendford Manor, Yeovil, BA20 1UN, England, United Kingdom. The principal place of business is Dene Court Care Home, 1 Butts Road, Exeter, EX2 5HU.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts received or receivable for the provision of services to the extent that there is a right to consideration and it is recorded at the value of consideration due at the balance sheet date. Turnover not billed to clients is included as accrued income in other debtors.

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 the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 % reducing balance
Plant and machinery 5 years straight line
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 33 33

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2022 293,000 293,000
At 31 July 2023 293,000 293,000
Accumulated amortisation
At 01 August 2022 117,200 117,200
Charge for the financial year 29,300 29,300
At 31 July 2023 146,500 146,500
Net book value
At 31 July 2023 146,500 146,500
At 31 July 2022 175,800 175,800

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 August 2022 0 64,468 43,097 83,489 35,782 226,836
Additions 73,011 16,119 0 17,126 3,784 110,040
Disposals 0 0 0 ( 9,470) 0 ( 9,470)
At 31 July 2023 73,011 80,587 43,097 91,145 39,566 327,406
Accumulated depreciation
At 01 August 2022 0 34,592 3,591 27,617 17,778 83,578
Charge for the financial year 3,283 14,957 7,901 12,294 7,516 45,951
Disposals 0 0 0 ( 4,520) 0 ( 4,520)
At 31 July 2023 3,283 49,549 11,492 35,391 25,294 125,009
Net book value
At 31 July 2023 69,728 31,038 31,605 55,754 14,272 202,397
At 31 July 2022 0 29,876 39,506 55,872 18,004 143,258
Leased assets included above:
Net book value
At 31 July 2023 0 0 31,604 0 0 31,604
At 31 July 2022 0 0 39,505 0 0 39,505

5. Debtors

2023 2022
£ £
Trade debtors 34,117 43,956
Amounts owed by Group undertakings 1,421 6,314
Other debtors 32,343 69,066
67,881 119,336

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,961 9,441
Other taxation and social security 12,431 0
Obligations under finance leases and hire purchase contracts (secured) 6,565 6,299
Other creditors 329,527 328,303
350,484 344,043

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 18,187 24,751

Obligations under hire purchase contracts are secured against the assets concerned, which are included within tangible fixed assets. At the balance sheet date the assets concerned had a net book value of £31,604 (2022 - £39,505).

8. Provision for liabilities

2023 2022
£ £
Deferred tax 50,599 35,350

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 115,000 115,000
between one and five years 460,000 460,000
after five years 215,625 330,625
790,625 905,625

This relates to a non-cancellable operating lease over the property.

10. Related party transactions

Other related party transactions

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.

11. Off Balance Sheet arrangements

The total amount of guarantees not included in the balance sheet is £760,293 (2022 - £809,087). The company is party to a cross guarantee against its parent's bank borrowing. The guarantee includes a fixed and floating charge over all assets of the company.

12. Ultimate controlling party

The company's immediate parent is Abacus Care Limited, incorporated in England & Wales.

Its registered office address is Hendford Manor, Yeovil, Somerset BA20 1UN.

These financial statements are available upon request from Companies House, Cardiff.