48 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 270,278 223,608 23,333 246,941 23,337 46,670 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 08293304 2023-01-01 2023-12-31 08293304 2023-12-31 08293304 2022-12-31 08293304 2022-01-01 2022-12-31 08293304 2022-12-31 08293304 2021-12-31 08293304 core:LandBuildings 2023-01-01 2023-12-31 08293304 core:FurnitureFittings 2023-01-01 2023-12-31 08293304 bus:Director1 2023-01-01 2023-12-31 08293304 core:NetGoodwill 2022-12-31 08293304 core:NetGoodwill 2023-12-31 08293304 core:LandBuildings 2022-12-31 08293304 core:FurnitureFittings 2022-12-31 08293304 core:LandBuildings 2023-12-31 08293304 core:FurnitureFittings 2023-12-31 08293304 core:WithinOneYear 2023-12-31 08293304 core:WithinOneYear 2022-12-31 08293304 core:AfterOneYear 2023-12-31 08293304 core:AfterOneYear 2022-12-31 08293304 core:ShareCapital 2023-12-31 08293304 core:ShareCapital 2022-12-31 08293304 core:RetainedEarningsAccumulatedLosses 2023-12-31 08293304 core:RetainedEarningsAccumulatedLosses 2022-12-31 08293304 core:NetGoodwill 2023-01-01 2023-12-31 08293304 core:NetGoodwill 2022-12-31 08293304 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 08293304 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 08293304 core:Non-currentFinancialInstruments 2023-12-31 08293304 core:LandBuildings 2022-12-31 08293304 core:FurnitureFittings 2022-12-31 08293304 bus:SmallEntities 2023-01-01 2023-12-31 08293304 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08293304 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08293304 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08293304 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08293304
Park House Care (Sandy) Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Park House Care (Sandy) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
23,337
46,670
Tangible assets
6
2,739,789
2,761,820
Investments
7
100
------------
------------
2,763,226
2,808,490
Current assets
Debtors
8
11,353
23,502
Cash at bank and in hand
954
50,858
--------
--------
12,307
74,360
Creditors: amounts falling due within one year
9
490,031
296,132
---------
---------
Net current liabilities
477,724
221,772
------------
------------
Total assets less current liabilities
2,285,502
2,586,718
Creditors: amounts falling due after more than one year
10
598,476
654,639
Provisions
1,020
8,292
------------
------------
Net assets
1,686,006
1,923,787
------------
------------
Park House Care (Sandy) Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,686,005
1,923,786
------------
------------
Shareholders funds
1,686,006
1,923,787
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
J F Tillisch
Director
Company registration number: 08293304
Park House Care (Sandy) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The trading address of the company is Park House Nursing Home, Mill Lane, Sandy, SG19 1NL, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The financial statements have been prepared on a going concern basis despite the loss for the year. The director is satisfied the company has sufficient funds and arrangements in place to meet liabilities as they fall due for payment for a period of at least 12 months from the date the accounts are approved.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Depreciation Tangible fixed assets are recognised at cost or valuation, less accumulated depreciation and any impairments. Depreciation takes place over the estimated useful life, down to the assessed residual value. The carrying amount of the company's fixed assets is tested as soon as conditions show that a need for impairment has arisen.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred 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 reporting date that are expected to apply to the reversal of the timing difference .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
15 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures and fittings
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are 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 in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 48 (2022: 44 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
270,278
---------
Amortisation
At 1 January 2023
223,608
Charge for the year
23,333
---------
At 31 December 2023
246,941
---------
Carrying amount
At 31 December 2023
23,337
---------
At 31 December 2022
46,670
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2023
2,879,101
167,762
3,046,863
Additions
49,400
2,215
51,615
------------
---------
------------
At 31 December 2023
2,928,501
169,977
3,098,478
------------
---------
------------
Depreciation
At 1 January 2023
216,911
68,132
285,043
Charge for the year
58,470
15,176
73,646
------------
---------
------------
At 31 December 2023
275,381
83,308
358,689
------------
---------
------------
Carrying amount
At 31 December 2023
2,653,120
86,669
2,739,789
------------
---------
------------
At 31 December 2022
2,662,190
99,630
2,761,820
------------
---------
------------
7. Investments
Shares in group undertakings
£
Cost
At 1 January 2023
Additions
100
----
At 31 December 2023
100
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
100
----
At 31 December 2022
----
8. Debtors
2023
2022
£
£
Trade debtors
6,116
15,758
Amounts owed by group undertakings and undertakings in which the company has a participating interest
420
Other debtors
5,237
7,324
--------
--------
11,353
23,502
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
123,218
129,171
Trade creditors
29,133
20,134
Amounts owed to group undertakings and undertakings in which the company has a participating interest
98,540
13,518
Social security and other taxes
17,565
14,972
Other creditors
221,575
118,337
---------
---------
490,031
296,132
---------
---------
Included within bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government.
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
598,476
654,639
---------
---------
Included within bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government.
11. Directors' advances, credits and guarantees
The director operated a loan account with the company which has £104,928 owed from the company at year end (2022 - £4,540 owed from the company). No interest has been charged during the year and the balance is repayable on demand.
12. Related party transactions
The company has taken exemption under the terms of paragraph 33.1a of FRS102 from disclosing related party transactions with it's parent company and subsidiary.
13. Controlling party
The ultimate parent company is John Tillisch Care Limited.