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Registration number: 12334274

Orme View Care Home Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Orme View Care Home Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Orme View Care Home Limited

Company Information

Directors

S L Robbins

I Robbins

Registered office

6 Great Ormes Road
Llandudno
LL30 2AR

Accountants

Aston Hughes & Co
Chartered Accountants
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

 

Orme View Care Home Limited

(Registration number: 12334274)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

238,454

253,204

Tangible assets

5

401,908

406,536

 

640,362

659,740

Current assets

 

Debtors

6

10,147

11,783

Cash at bank and in hand

 

107,602

320,040

 

117,749

331,823

Creditors: Amounts falling due within one year

7

(725,036)

(957,451)

Net current liabilities

 

(607,287)

(625,628)

Net assets

 

33,075

34,112

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

32,975

34,012

Shareholders' funds

 

33,075

34,112

For the financial year ending 29 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 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 20 August 2024 and signed on its behalf by:
 

.........................................
S L Robbins
Director

 

Orme View Care Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Great Ormes Road
Llandudno
LL30 2AR

These financial statements were authorised for issue by the Board on 20 August 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 sale of goods and provision of 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.

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.

 

Orme View Care Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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:

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:

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.

 

Orme View Care Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 22).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

294,995

294,995

At 29 February 2024

294,995

294,995

Amortisation

At 1 March 2023

41,791

41,791

Amortisation charge

14,750

14,750

At 29 February 2024

56,541

56,541

Carrying amount

At 29 February 2024

238,454

238,454

At 28 February 2023

253,204

253,204

5

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

368,238

85,848

454,086

Additions

-

23,704

23,704

At 29 February 2024

368,238

109,552

477,790

Depreciation

At 1 March 2023

20,337

27,213

47,550

Charge for the year

7,747

20,585

28,332

At 29 February 2024

28,084

47,798

75,882

Carrying amount

At 29 February 2024

340,154

61,754

401,908

At 28 February 2023

347,901

58,635

406,536

Included within the net book value of land and buildings above is £340,154 (2023 - £347,901) in respect of freehold land and buildings.
 

 

Orme View Care Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,147

7,637

Prepayments

-

736

Other debtors

-

3,410

 

10,147

11,783

 

Orme View Care Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

299,095

Trade creditors

 

-

1,897

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

704,287

-

Taxation and social security

 

20,749

757

Accruals and deferred income

 

-

14,065

Other creditors

 

-

641,637

 

725,036

957,451

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

299,095

10

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £1,047.18 (2023 - £377.00) per each Ordinary shares

 

104,718

 

37,700

         
 

Orme View Care Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

11

Parent and ultimate parent undertaking

The company's immediate parent is BR Care Ltd, incorporated in Wales.

  These financial statements are available upon request from Orme View, 6 Great Ormes Road, Llandudno, Wales, LL30 2AR