Silverfin false false 30/11/2023 01/12/2022 30/11/2023 M S Ghuman 29/11/2004 S Ghuman 08/01/2018 26 July 2024 The principal activity of the Company during the financial year was providing nursing home facilities for the elderly. 05298702 2023-11-30 05298702 bus:Director1 2023-11-30 05298702 bus:Director2 2023-11-30 05298702 2022-11-30 05298702 core:CurrentFinancialInstruments 2023-11-30 05298702 core:CurrentFinancialInstruments 2022-11-30 05298702 core:Non-currentFinancialInstruments 2023-11-30 05298702 core:Non-currentFinancialInstruments 2022-11-30 05298702 core:ShareCapital 2023-11-30 05298702 core:ShareCapital 2022-11-30 05298702 core:RetainedEarningsAccumulatedLosses 2023-11-30 05298702 core:RetainedEarningsAccumulatedLosses 2022-11-30 05298702 core:Goodwill 2022-11-30 05298702 core:Goodwill 2023-11-30 05298702 core:PlantMachinery 2022-11-30 05298702 core:OfficeEquipment 2022-11-30 05298702 core:PlantMachinery 2023-11-30 05298702 core:OfficeEquipment 2023-11-30 05298702 core:CostValuation 2022-11-30 05298702 core:AdditionsToInvestments 2023-11-30 05298702 core:CostValuation 2023-11-30 05298702 core:CurrentFinancialInstruments core:Secured 2023-11-30 05298702 core:MoreThanFiveYears 2023-11-30 05298702 core:MoreThanFiveYears 2022-11-30 05298702 core:WithinOneYear 2023-11-30 05298702 core:WithinOneYear 2022-11-30 05298702 core:BetweenOneFiveYears 2023-11-30 05298702 core:BetweenOneFiveYears 2022-11-30 05298702 2022-12-01 2023-11-30 05298702 bus:FilletedAccounts 2022-12-01 2023-11-30 05298702 bus:SmallEntities 2022-12-01 2023-11-30 05298702 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05298702 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05298702 bus:Director1 2022-12-01 2023-11-30 05298702 bus:Director2 2022-12-01 2023-11-30 05298702 core:Goodwill core:TopRangeValue 2022-12-01 2023-11-30 05298702 core:Goodwill 2022-12-01 2023-11-30 05298702 core:PlantMachinery 2022-12-01 2023-11-30 05298702 core:OfficeEquipment core:TopRangeValue 2022-12-01 2023-11-30 05298702 2021-12-01 2022-11-30 05298702 core:Goodwill 1 2022-12-01 2023-11-30 05298702 1 2022-12-01 2023-11-30 05298702 core:OfficeEquipment 2022-12-01 2023-11-30 05298702 core:Non-currentFinancialInstruments 2022-12-01 2023-11-30 05298702 1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Company No: 05298702 (England and Wales)

THE KNOLL NURSING HOME (YEOVIL) LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

THE KNOLL NURSING HOME (YEOVIL) LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

THE KNOLL NURSING HOME (YEOVIL) LIMITED

BALANCE SHEET

As at 30 November 2023
THE KNOLL NURSING HOME (YEOVIL) LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 39,281 45,239
Investments 5 100 0
39,381 45,239
Current assets
Debtors 6 174,307 155,209
Cash at bank and in hand 7 13,038 13,334
187,345 168,543
Creditors: amounts falling due within one year 8 ( 461,177) ( 717,195)
Net current liabilities (273,832) (548,652)
Total assets less current liabilities (234,451) (503,413)
Creditors: amounts falling due after more than one year 9 ( 59,156) ( 75,009)
Net liabilities ( 293,607) ( 578,422)
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 293,609 ) ( 578,424 )
Total shareholder's deficit ( 293,607) ( 578,422)

For the financial year ending 30 November 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 The Knoll Nursing Home (Yeovil) Limited (registered number: 05298702) were approved and authorised for issue by the Board of Directors on 26 July 2024. They were signed on its behalf by:

M S Ghuman
Director
THE KNOLL NURSING HOME (YEOVIL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
THE KNOLL NURSING HOME (YEOVIL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

The Knoll Nursing Home (Yeovil) 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 33 Preston Road, Yeovil, BA21 3AE, United Kingdom.

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 £.

Going concern

The company is being supported by loans from it's bankers, it's parent company, the director and the director's immediate family. The director has received assurances that the loans will not need to be fully repaid within the coming year. As such the financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts received or receivable for the provision of care 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.

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:

Plant and machinery 25 % reducing balance
Office equipment 3 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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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 54 59

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 224,614 224,614
Goodwill 0 0
At 30 November 2023 224,614 224,614
Accumulated amortisation
At 01 December 2022 224,614 224,614
At 30 November 2023 224,614 224,614
Net book value
At 30 November 2023 0 0
At 30 November 2022 0 0

4. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 December 2022 270,195 9,978 280,173
Additions 11,526 2,083 13,609
Disposals ( 12,728) ( 130) ( 12,858)
At 30 November 2023 268,993 11,931 280,924
Accumulated depreciation
At 01 December 2022 231,233 3,701 234,934
Charge for the financial year 10,697 3,241 13,938
Disposals ( 7,099) ( 130) ( 7,229)
At 30 November 2023 234,831 6,812 241,643
Net book value
At 30 November 2023 34,162 5,119 39,281
At 30 November 2022 38,962 6,277 45,239

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 December 2022 0
Additions 100
0
At 30 November 2023 100
Carrying value at 30 November 2023 100
Carrying value at 30 November 2022 0

The Knoll (Yeovil) Trading Ltd was incorporated on 05 July 2023 and is a wholly owned subsidiary of The Knoll Nursing Home (Yeovil) Limited.

6. Debtors

2023 2022
£ £
Trade debtors 76,938 106,050
Other debtors 97,369 49,159
174,307 155,209

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 13,038 13,334

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 43,370 14,359
Trade creditors 30,451 68,274
Other taxation and social security 33,233 20,133
Other creditors 354,123 614,429
461,177 717,195

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

2023 2022
£ £
Bank loans (secured) 59,156 75,009

Within the bank loans is a balance of £33,976 which relates to an outstanding amount due from a Coronavirus Bounce
Back Loan (2022-£39,668). The UK government have guaranteed 100% of the value of the loan (being £56,260). Also within bank loans is a balance of £62,857 (2022 - £35,341) which relates to borrowings secured by a personal guarantee from the director and also from the parent company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans (secured / repayable by instalments) 9,733 16,023

10. Financial commitments

Commitments

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

2023 2022
£ £
within one year 11,322 12,060
between one and five years 43,138 45,370
after five years 0 9,910
54,460 67,340

Other financial commitments

2023 2022
£ £
Total future minimum lease payments under cancellable operating leases are as follows: 270,000 180,000

The total amount of financial commitments not included in the balance sheet is £324,460 (2022 - £247,340 ). £270,000 (2022 - £180,000) of this sum relates to the operating lease over the business property, £67,340 (2021-£3,034) of this sum relates to non cancellable operating leases.

The assets of the company are secured by a fixed and floating charge in respect of a loan facility taken out by the parent company Goodliff Limited.

11. Related party transactions

Transactions with owners holding a participating interest in the entity

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.

12. Ultimate controlling party

The company's immediate parent is Goodliff Limited, incorporated in England and Wales. Its registered office address is The Knoll Care Home, 33 Preston Road, Yeovil, Somerset, BA21 3AE.

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