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REGISTERED NUMBER: 07401042 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

RECTORY CARE LIMITED

RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RECTORY CARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: Mr M E Turner
Mrs P M Turner





REGISTERED OFFICE: The Old Rectory
Rectory Road
Albrighton
Wolverhampton
West Midlands
WV7 3EP





REGISTERED NUMBER: 07401042 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)

BALANCE SHEET
31ST OCTOBER 2023

31.10.22 31.10.23
£    £    Notes £    £   
FIXED ASSETS
1,416,113 Tangible assets 4 1,385,331
100 Investments 5 100
1,416,213 1,385,431

CURRENT ASSETS

25,106
Debtors: amounts falling due within one
year

6

99,684

805,990
Debtors: amounts falling due after more
than one year

6

816,971
145,451 Cash at bank 140,978
976,547 1,057,633
CREDITORS
186,640 Amounts falling due within one year 7 172,551
789,907 NET CURRENT ASSETS 885,082
2,206,120 TOTAL ASSETS LESS CURRENT LIABILITIES 2,270,513

CREDITORS

(1,125,114

)
Amounts falling due after more than one
year

8

(1,043,423

)

(11,745 ) PROVISIONS FOR LIABILITIES (13,525 )
1,069,261 NET ASSETS 1,213,565

CAPITAL AND RESERVES
100 Called up share capital 10 100
1,069,161 Retained earnings 1,213,465
1,069,261 SHAREHOLDERS' FUNDS 1,213,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)

BALANCE SHEET - continued
31ST OCTOBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th July 2024 and were signed on its behalf by:




Mr M E Turner - Director



Mrs P M Turner - Director


RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Rectory Care 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents fees receivable from residents. Any income received in advance is included within deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 2% and 7% on cost
Plant and machinery etc - 25% and 15% on cost


Assets are depreciated from the date that they are brought into use. Land included within Land and buildings is not depreciated.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance costs
Finance costs are charged to the profit and loss account over the capital repayment term of the debt so that the amount charged is at a constant rate on the carrying amount.

Investments in joint ventures
Investments in joint ventures are recognised at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2022 - 54 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST
At 1st November 2022 1,933,327 1,761,219 172,108
Additions 38,511 - 38,511
At 31st October 2023 1,971,838 1,761,219 210,619
DEPRECIATION
At 1st November 2022 517,214 425,103 92,111
Charge for year 69,293 47,152 22,141
At 31st October 2023 586,507 472,255 114,252
NET BOOK VALUE
At 31st October 2023 1,385,331 1,288,964 96,367
At 31st October 2022 1,416,113 1,336,116 79,997

Included in cost of land and buildings is freehold land of £ 272,500 (2022 - £ 272,500 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1st November 2022
and 31st October 2023 100
NET BOOK VALUE
At 31st October 2023 100
At 31st October 2022 100

RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

6. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 28,376 15,791
Directors' current accounts 67,239 -
Prepayments 4,069 9,315
99,684 25,106

Amounts falling due after more than one year:
Amounts owed by joint ventures 816,971 805,990

Aggregate amounts 916,655 831,096

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 76,274 81,811
Trade creditors - 816
Tax 52,440 22,302
Social security and other taxes 19,389 19,403
Other creditors 5,773 5,241
Directors' current accounts - 42,707
Accrued expenses 18,675 14,360
172,551 186,640

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans - 2-5 years 1,043,423 1,125,114

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 1,131,837 1,222,100

The bank loan is secured by charges over the land and buildings, a debenture over the company's assets and a personal guarantee from the directors capped at £300,000.

RECTORY CARE LIMITED (REGISTERED NUMBER: 07401042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.16 31.10.15
value: £ £
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50

100 100

All classes of shares rank pari passu as regards voting rights and rights to capital on a winding up.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st October 2023 and 31st October 2022:

31.10.23 31.10.22
£    £   
Mr M E Turner
Balance outstanding at start of year (21,353 ) (75,905 )
Amounts advanced 67,547 56,604
Amounts repaid (1,575 ) (2,052 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,619 (21,353 )

Mrs P M Turner
Balance outstanding at start of year (21,353 ) (75,904 )
Amounts advanced 67,548 56,604
Amounts repaid (23,575 ) (2,053 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,620 (21,353 )

No interest is charged.

12. RELATED PARTY DISCLOSURES

The company owns 50% of the share capital of Elmhurst (Shropshire) Limited, a care home operator. At 31 October 2023 £816,971 was due from Elmhurst (Shropshire) Limited (202 £805,990). Interest is charged at 10% and 6% per annum.