St. James's Lodge Limited NI042144 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of residential and nursing care to eldery people. Digita Accounts Production Advanced 6.30.9574.0 true true true NI042144 2023-04-01 2024-03-31 NI042144 2024-03-31 NI042144 bus:OrdinaryShareClass1 2024-03-31 NI042144 core:CurrentFinancialInstruments 2024-03-31 NI042144 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI042144 core:Non-currentFinancialInstruments 2024-03-31 NI042144 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI042144 core:FurnitureFittingsToolsEquipment 2024-03-31 NI042144 core:LandBuildings 2024-03-31 NI042144 bus:SmallEntities 2023-04-01 2024-03-31 NI042144 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI042144 bus:FilletedAccounts 2023-04-01 2024-03-31 NI042144 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI042144 bus:RegisteredOffice 2023-04-01 2024-03-31 NI042144 bus:Director3 2023-04-01 2024-03-31 NI042144 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI042144 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI042144 core:Buildings 2023-04-01 2024-03-31 NI042144 core:FurnitureFittings 2023-04-01 2024-03-31 NI042144 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI042144 core:LandBuildings 2023-04-01 2024-03-31 NI042144 1 2023-04-01 2024-03-31 NI042144 countries:AllCountries 2023-04-01 2024-03-31 NI042144 2023-03-31 NI042144 core:FurnitureFittingsToolsEquipment 2023-03-31 NI042144 core:LandBuildings 2023-03-31 NI042144 2022-04-01 2023-03-31 NI042144 2023-03-31 NI042144 bus:OrdinaryShareClass1 2023-03-31 NI042144 core:CurrentFinancialInstruments 2023-03-31 NI042144 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI042144 core:Non-currentFinancialInstruments 2023-03-31 NI042144 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI042144 core:FurnitureFittingsToolsEquipment 2023-03-31 NI042144 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI042144

St. James's Lodge Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

St. James's Lodge Limited

(Registration number: NI042144)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,108,152

2,158,333

Current assets

 

Debtors

6

69,597

72,637

Cash at bank and in hand

 

160,019

69,298

 

229,616

141,935

Creditors: Amounts falling due within one year

7

(244,544)

(345,405)

Net current liabilities

 

(14,928)

(203,470)

Total assets less current liabilities

 

2,093,224

1,954,863

Creditors: Amounts falling due after more than one year

7

(711,327)

(123,069)

Net assets

 

1,381,897

1,831,794

Capital and reserves

 

Called up share capital

9

360,004

540,006

Capital redemption reserve

180,002

-

Retained earnings

841,891

1,291,788

Shareholders' funds

 

1,381,897

1,831,794

For the financial year ending 31 March 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 year 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 9 July 2024 and signed on its behalf by:
 

.........................................
Frank McKenna
Director

 

St. James's Lodge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in N. Ireland.

The address of its registered office is: 22 Broadway Avenue, Ballymena, County Antrim, BT43 7AA.

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

Going concern

The financial statements have been prepared on a going concern basis.

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, rebates and discounts. Revenue from the rendering of services is recognised on completion of the service provision, at which point the company has generated a right to consideration.

Tax

The tax expense for the period comprises current 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.

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.

 

St. James's Lodge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Buildings

2% per annum straight line basis

Fixtures and fittings

10% per annum straight line basis

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.

Short term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 72 (2023 - 73).

4

Other operating income

Other operating income includes Health and Social Care Board assistance received by the company to assist with inflationary pressures.

 

St. James's Lodge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,472,599

344,018

2,816,617

Additions

-

3,900

3,900

Disposals

-

(1,670)

(1,670)

At 31 March 2024

2,472,599

346,248

2,818,847

Depreciation

At 1 April 2023

336,703

321,581

658,284

Charge for the year

35,452

18,629

54,081

Eliminated on disposal

-

(1,670)

(1,670)

At 31 March 2024

372,155

338,540

710,695

Carrying amount

At 31 March 2024

2,100,444

7,708

2,108,152

At 31 March 2023

2,135,896

22,437

2,158,333

Included within the net book value of land and buildings above is £2,100,444 (2023 - £2,135,896) in respect of freehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,034

13,855

Prepayments

19,207

19,676

Other debtors

43,356

39,106

 

69,597

72,637

 

St. James's Lodge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

30,000

111,000

Trade creditors

 

19,589

21,338

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

3,847

-

Taxation and social security

 

81,854

66,476

Accruals and deferred income

 

109,254

93,484

Other creditors

 

-

53,107

 

244,544

345,405

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

711,327

123,069

Current loans and borrowings

2024
£

2023
£

Bank borrowings

30,000

111,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

360,004

360,004

540,006

540,006

       

During the year the Company entered into a Purchase of Own Shares agreement, resulting in 180,002 shares being cancelled. A corresponding amount has been transferred to the Capital Redemption Reserve. HMRC clearance was received in respect of this transaction.

 

St. James's Lodge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

At the year end the director owed the Company £1,824.

At the year end the Company owed its Parent Company Knock Hall Ltd £3,847.

11

Parent and ultimate parent undertaking

The company's immediate parent is Knock Hall Limited, incorporated in Northern Ireland.
 
On 28th November 2023 Knock hall Ltd acquired 100% of the share capital of St James's Lodge Limited.