Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truetruetruetruetruetruetruetruetruetruetruetruetruetruetrue742023-01-01falseNo description of principal activity76true 04302089 2023-01-01 2023-12-31 04302089 2022-01-01 2022-12-31 04302089 2023-12-31 04302089 2022-12-31 04302089 2022-01-01 04302089 c:Director1 2023-01-01 2023-12-31 04302089 c:Director2 2023-01-01 2023-12-31 04302089 c:Director3 2023-01-01 2023-12-31 04302089 c:Director3 2023-12-31 04302089 c:Director4 2023-01-01 2023-12-31 04302089 c:Director5 2023-01-01 2023-12-31 04302089 c:Director5 2023-12-31 04302089 c:Director6 2023-01-01 2023-12-31 04302089 c:Director6 2023-12-31 04302089 c:RegisteredOffice 2023-01-01 2023-12-31 04302089 d:MotorVehicles 2023-01-01 2023-12-31 04302089 d:MotorVehicles 2023-12-31 04302089 d:MotorVehicles 2022-12-31 04302089 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04302089 d:FurnitureFittings 2023-01-01 2023-12-31 04302089 d:FurnitureFittings 2023-12-31 04302089 d:FurnitureFittings 2022-12-31 04302089 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04302089 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04302089 d:CurrentFinancialInstruments 2023-12-31 04302089 d:CurrentFinancialInstruments 2022-12-31 04302089 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04302089 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04302089 d:ShareCapital 2023-12-31 04302089 d:ShareCapital 2022-12-31 04302089 d:ShareCapital 2022-01-01 04302089 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04302089 d:RetainedEarningsAccumulatedLosses 2023-12-31 04302089 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04302089 d:RetainedEarningsAccumulatedLosses 2022-12-31 04302089 d:RetainedEarningsAccumulatedLosses 2022-01-01 04302089 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04302089 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04302089 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04302089 c:OrdinaryShareClass1 2023-12-31 04302089 c:OrdinaryShareClass1 2022-12-31 04302089 c:FRS101 2023-01-01 2023-12-31 04302089 c:Audited 2023-01-01 2023-12-31 04302089 c:FullAccounts 2023-01-01 2023-12-31 04302089 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04302089 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 04302089







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


WALTON LODGE LIMITED






































img474c.png                        

 


WALTON LODGE LIMITED
 


 
COMPANY INFORMATION


Directors
H K Arora 
A R C De Changy 
C P Hartshorne (resigned 4 January 2023)
M H Lefebvre 
S T Foxall-Smith (appointed 4 January 2023)
M Heginbotham (appointed 17 November 2023)




Registered number
04302089



Registered office
1st Floor
1 Lakeside Headlands Business Park

Salisbury Road, Blashford

Ringwood

England

BH24 3PB




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


WALTON LODGE LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 11


 


WALTON LODGE LIMITED
REGISTERED NUMBER:04302089



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
188,342
84,876

  
188,342
84,876

Current assets
  

Debtors: amounts falling due within one year
 5 
2,618,731
2,687,246

Cash at bank and in hand
  
108,044
124,378

  
2,726,775
2,811,624

Creditors: amounts falling due within one year
 6 
(491,223)
(377,630)

Net current assets
  
 
 
2,235,552
 
 
2,433,994

Total assets less current liabilities
  
2,423,894
2,518,870

  

Provisions for liabilities
  

Deferred taxation
 7 
(8,306)
(1,113)

  
 
 
(8,306)
 
 
(1,113)

  

Net assets
  
2,415,588
2,517,757

Page 1

 


WALTON LODGE LIMITED
REGISTERED NUMBER:04302089


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 8 
20,000
20,000

Profit and loss account
 9 
2,395,588
2,497,757

  
2,415,588
2,517,757


The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
H K Arora
Director

Date: 22 July 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 


WALTON LODGE LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
20,000
2,481,376
2,501,376


Comprehensive income for the year

Profit for the year
-
16,381
16,381



At 1 January 2023
20,000
2,497,757
2,517,757


Comprehensive income for the year

Loss for the year
-
(102,169)
(102,169)


At 31 December 2023
20,000
2,395,588
2,415,588


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Walton Lodge Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The principal activity of the Company in the year under review was that of the operation of care home facilities for
the disabled and infirmed in the U.K.
The presentational & functional currency of the financial statements is the Pound Sterling (£).
The financial statements reflect a 12 month reporting period for the current year and prior year.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

Information on the impact of first-time adoption of FRS 101 is given in note 12.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

First time application of FRS 100 and FRS 101

In the current year the Company has adopted FRS 100 and FRS 101. In previous years the financial statements were prepared in accordance with applicable UK accounting standards.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held For Sale and Discontinued Operations
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
 - paragraph 79(a)(iv) of IAS 1;
 - paragraph 73(e) of IAS 16 Property, Plant and Equipment;
 - paragraph 118(e) of IAS 38 Intangible Assets;
Page 4

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.2
Financial Reporting Standard 101 - reduced disclosure exemptions (continued)

 - paragraphs 76 and 79(d) of IAS 40 Investment Property; and
 - paragraph 50 of IAS 41 Agriculture
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
the requirements of paragraph 74A(b) of IAS 16
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

This information is included in the consolidated financial statements of Care Tree Holding Ltd as at 31 December 2023 and these financial statements may be obtained from Companies House.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company does not adjust any of the transaction prices for the time value of money.

Rendering of services

Revenue from providing services is recognised in the accounting period in which the services are rendered.

For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.



  
2.8

Financial instruments

The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value. 
Financial assets
All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.
Fair value through profit or loss
All of the Company's financial assets other than those which meet the criteria to be measured at amortised cost are subsequently measured at fair value at the end of each reporting period, with any fair value gains or losses being recognised in profit or loss to the extent they are not part of a designated hedging relationship. The net gain or loss recognised in profit or loss includes any dividend or interest earned on the financial asset. 
Debt instruments at amortised cost
Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.
Impairment of financial assets
The Company recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised or at FVOCI. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.
The Company always recognises lifetime ECL for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the
Page 7

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

reporting date, including time value of money where appropriate. Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.
Financial liabilities
Fair value through profit or loss
Financial liabilities are classified as at fair value through profit or loss, when the financial liability is held for trading, or is designated as at fair value through profit or loss. This designation may be made if such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise, or the financial liability forms part of a group of financial instruments which is managed and its performance is evaluated on a fair value basis, or the financial liability forms part of a contract containing one or more embedded derivatives, and IFRS 9 permits the entire combined contract to be designated as at fair value through profit or loss. Any gains or losses arising on changes in fair value are recognised in profit or loss to the extent that they are not part of a designated hedging relationship.

At amortised cost
Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.
Financial assets and liabilities are made up of normal trading balances.


3.


Employees

2023
2022
£
£

Wages and salaries
1,651,320
1,566,847

Social security costs
139,361
95,938

Cost of defined contribution scheme
25,195
17,321

1,815,876
1,680,106


The Directors do not receive remuneration from the Company.

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
74
76

Page 8

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
13,077
83,159
96,236


Additions
-
137,859
137,859



At 31 December 2023

13,077
221,018
234,095



Depreciation


At 1 January 2023
3,269
8,091
11,360


Charge for the year on owned assets
2,452
31,941
34,393



At 31 December 2023

5,721
40,032
45,753



Net book value



At 31 December 2023
7,356
180,986
188,342



At 31 December 2022
9,808
75,068
84,876


5.


Debtors

2023
2022
£
£


Trade debtors
38,416
9,399

Amounts owed by group undertakings
2,268,251
2,466,941

Other debtors
312,064
210,906

2,618,731
2,687,246


Balances with group undertakings carry no interest and are repayable on demand.

Page 9

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
50,885
63,718

Amounts owed to group undertakings
231,655
74,655

Corporation tax
-
118,787

Other taxation and social security
123,665
17,376

Other creditors
80,086
91,094

Accruals and deferred income
4,932
12,000

491,223
377,630


Balances with group undertakings carry no interest and are repayable on demand.


7.


Deferred taxation




2023


£






At beginning of year
(1,113)


Charged to profit or loss
(7,193)



At end of year
(8,306)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
8,306
1,113

8,306
1,113

Page 10

 


WALTON LODGE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



20,000 (2022 - 20,000) Ordinary shares of £1.00 each
20,000
20,000

Each ordinary share has equal voting and dividend rights.



9.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £23,509 (2022 - £17,321) . 


11.


Controlling party

The company's immediate parent undertaking is Care Tree Invest Ltd.
The company's ultimate parent undertaking is Care Tree Holding Ltd, a company incorporated in England and Wales and whose registered office is 1st Floor, 1 Lakeside Headlands Business Park, Salisbury Road, Blashford Ringwood, United Kingdom, BH23 3PB.
 Copies of group financial statements may be obtained from the Registrar of Companies for England & Wales.


12.


First time adoption of FRS 101

The policies applied under the entity's previous accounting framework are not materially different to FRS 101 and have not impacted on equity or profit or loss.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 23 July 2024 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 11