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Registration number: 04615515

Bluebell Residential Home Limited

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

Bluebell Residential Home Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Bluebell Residential Home Limited

Company Information

Directors

Mrs J Todd

D Todd

Company secretary

D Todd

Registered office

408 Boothferry Road
Hull
East Yorkshire
HU13 0JL

 

Bluebell Residential Home Limited

(Registration number: 04615515)
Balance Sheet as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,593,584

1,848,663

Current assets

 

Stocks

6

4,925

4,925

Debtors

7

218,653

348,634

Cash at bank and in hand

 

312,889

226,271

 

536,467

579,830

Creditors: Amounts falling due within one year

8

(154,366)

(133,757)

Net current assets

 

382,101

446,073

Total assets less current liabilities

 

1,975,685

2,294,736

Creditors: Amounts falling due after more than one year

8

(468,480)

(520,788)

Provisions for liabilities

(20,776)

(16,557)

Net assets

 

1,486,429

1,757,391

Capital and reserves

 

Called up share capital

100

100

Other reserves

708,411

958,411

Retained earnings

777,918

798,880

Shareholders' funds

 

1,486,429

1,757,391

For the financial period ending 28 February 2024 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 period 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 17 July 2024 and signed on its behalf by:
 

.........................................
Mrs J Todd
Director

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 04615515.

The address of its registered office is:
408 Boothferry Road
Hull
East Yorkshire
HU13 0JL

These financial statements were authorised for issue by the Board on 17 July 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 and are rounded to the nearest pound.

Revenue recognition

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

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

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.

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal ofdeferred 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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:

Freehold property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the revaluation reserve.

Asset class

Depreciation method and rate

Equipment, fixtures and fittings

15% on written down value

Plant and machinery

15% on written down value

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

5% on cost (fully amortised)

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

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 the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

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.

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 Directors) during the period, was 37 (2023 - 36).

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

120,000

120,000

At 28 February 2024

120,000

120,000

Amortisation

At 1 March 2023

120,000

120,000

At 28 February 2024

120,000

120,000

Carrying amount

At 28 February 2024

-

-

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

1,750,000

221,067

76,336

11,677

2,059,080

Revaluations

(250,000)

-

-

-

(250,000)

Additions

-

8,377

-

1,986

10,363

At 28 February 2024

1,500,000

229,444

76,336

13,663

1,819,443

Depreciation

At 1 March 2023

-

146,051

61,253

3,113

210,417

Charge for the period

-

11,703

2,262

1,477

15,442

At 28 February 2024

-

157,754

63,515

4,590

225,859

Carrying amount

At 28 February 2024

1,500,000

71,690

12,821

9,073

1,593,584

At 28 February 2023

1,750,000

75,016

15,083

8,564

1,848,663

Included within the net book value of land and buildings above is £1,500,000 (2023 - £1,750,000) in respect of freehold land and buildings.

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Revaluation

The fair value of the Company's Land and buildings was revalued on 28 February 2024 by the directors. An independent valuer was not involved.
The directors confirm that the value held in the accounts for land and buildings reflects the current market value.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £894,677 (2023 - £894,677).

6

Stocks

2024
£

2023
£

Other inventories

4,925

4,925

7

Debtors

2024
£

2023
£

Trade debtors

2,704

5,084

Prepayments and Accrued income

65,346

94,407

Other debtors

150,603

249,143

218,653

348,634

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

49,192

44,997

Taxation and social security

 

85,401

70,902

Accruals and deferred income

 

17,994

16,074

Other creditors

 

1,779

1,784

 

154,366

133,757

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

468,480

520,788

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

49,192

44,997

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

468,480

520,788

The bank borrowings are secured on the freehold property.

Bank borrowings after five years

Bank loan repayable monthly over a remaining 10 years. Rate of interest 2% p.a. over Base Rate. Security held against 408 Bluebell House.

 

Bluebell Residential Home Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

10

Related party transactions

Transactions with Directors

2024

At 1 March 2023
£

Advances to Director
£

Repayments by Director
£

At 28 February 2024
£

Mrs J Todd

Unsecured, interest free, repayable on demand

249,143

162,096

(260,636)

150,603

         
       

 

Other transactions with directors

At the year end, the directors owed the company £150,603 (2023: £249,143). This amount is unsecured, interest free and repayable on demand