IRIS Accounts Production v24.1.4.33 06495501 Board of Directors 1.1.23 31.12.23 31.12.23 provision of rest home facilities for the elderly with mental health problems. true false true true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064955012022-12-31064955012023-12-31064955012023-01-012023-12-31064955012021-12-31064955012022-01-012022-12-31064955012022-12-3106495501ns15:EnglandWales2023-01-012023-12-3106495501ns14:PoundSterling2023-01-012023-12-3106495501ns10:Director12023-01-012023-12-3106495501ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106495501ns10:FRS1022023-01-012023-12-3106495501ns10:Audited2023-01-012023-12-3106495501ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3106495501ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3106495501ns10:FullAccounts2023-01-012023-12-3106495501ns10:OrdinaryShareClass12023-01-012023-12-3106495501ns10:Director22023-01-012023-12-3106495501ns10:Director32023-01-012023-12-3106495501ns10:RegisteredOffice2023-01-012023-12-3106495501ns10:Director42023-01-012023-12-3106495501ns5:CurrentFinancialInstruments2023-12-3106495501ns5:CurrentFinancialInstruments2022-12-3106495501ns5:ShareCapital2023-12-3106495501ns5:ShareCapital2022-12-3106495501ns5:RetainedEarningsAccumulatedLosses2023-12-3106495501ns5:RetainedEarningsAccumulatedLosses2022-12-3106495501ns5:ShareCapital2021-12-3106495501ns5:RetainedEarningsAccumulatedLosses2021-12-3106495501ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3106495501ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-310649550112023-01-012023-12-310649550112022-01-012022-12-3106495501ns5:FurnitureFittings2023-01-012023-12-3106495501ns5:MotorVehicles2023-01-012023-12-3106495501ns5:OwnedAssets2023-01-012023-12-3106495501ns5:OwnedAssets2022-01-012022-12-3106495501112023-01-012023-12-3106495501112022-01-012022-12-3106495501ns5:LandBuildings2022-12-3106495501ns5:FurnitureFittings2022-12-3106495501ns5:MotorVehicles2022-12-3106495501ns5:LandBuildings2023-01-012023-12-3106495501ns5:LandBuildings2023-12-3106495501ns5:FurnitureFittings2023-12-3106495501ns5:MotorVehicles2023-12-3106495501ns5:LandBuildings2022-12-3106495501ns5:FurnitureFittings2022-12-3106495501ns5:MotorVehicles2022-12-3106495501ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106495501ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3106495501ns5:DeferredTaxation2022-12-3106495501ns5:DeferredTaxation2023-12-3106495501ns10:OrdinaryShareClass12023-12-3106495501ns5:RetainedEarningsAccumulatedLosses2022-12-31
REGISTERED NUMBER: 06495501 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2023

for

ST MAGNUS HOUSE LIMITED

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


ST MAGNUS HOUSE LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R J F WHITE
J M RANDALL
F S N WHITE





REGISTERED OFFICE: Rosemary Park Nursing Home
Marley Common
Marley Lne
Haslemere
Surrey
GU27 3PX





REGISTERED NUMBER: 06495501 (England and Wales)





AUDITORS: AUDIT NETWORK LIMITED
Chartered Accountants & Statutory Auditors
23 Mountside
Stanmore
Middlesex
HA7 2DS

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The directors consider that the results for the year and the financial position at the end of the year to be satisfactory.

Occupancy levels and consequently the fee incomes were lower this year due to some reorganisation and refurbishment. That coupled with rising staff costs and other overheads resulted in reduced profitability.

The company expects to improve on occupancy and fee incomes as well as making savings in the overheads in the coming year and improve profitability.

PRINCIPAL RISKS AND UNCERTAINTIES
Majority of the times the company enjoys a healthy waiting list for beds that become vacant but maintaining that in the face of competition in the market place and reducing the lead time is always challenging.

Increasing staff costs and the resistance from health and local authorities to increases in bed fees are the principal risks facing the company.

BUSINESS PERFORMANCE
The directors consider that the key financial performance indicators that communicate the financial performance and strength of the company as a whole are turnover, staff costs, profit before tax, total shareholders' funds and net cash inflow. These were as follows:

- Turnover £8,575,084 (2022: £9,605,429)
- Staff costs £6,600,861 (2022: £6,282,069)
- (Loss)/Profit before tax £(863,072 ) (2022: £897,615)
- Total shareholders' funds £5,152,816 (2022: £6,017,114)
- Net cash (outflow)/inflow £(1,814,848 ) (2022: £2,094,035)

FINANCIAL INSTRUMENTS
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are for the most part conducted in sterling.

ON BEHALF OF THE BOARD:





F S N WHITE - Director


9 August 2024

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

R J F WHITE
J M RANDALL

Other changes in directors holding office are as follows:

F S N WHITE - appointed 5 October 2023

P JEFFREY ceased to be a director after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Report of the Directors
for the Year Ended 31 December 2023


AUDITORS
The auditors, AUDIT NETWORK LIMITED, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





F S N WHITE - Director


9 August 2024

Report of the Independent Auditors to the Members of
ST MAGNUS HOUSE LIMITED

Opinion
We have audited the financial statements of ST MAGNUS HOUSE LIMITED (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
ST MAGNUS HOUSE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and various taxes Acts.

We evaluated the management's incentives and opportunities for fraudulent manipulation of the financial statements and the risk of override of controls, and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:
- Inspecting correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management's controls designed to prevent and detect irregularities;
- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
- Challenging assumptions and judgements made by management in their critical accounting estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
ST MAGNUS HOUSE LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




KIAN DADFARMA (Senior Statutory Auditor)
for and on behalf of AUDIT NETWORK LIMITED
Chartered Accountants & Statutory Auditors
23 Mountside
Stanmore
Middlesex
HA7 2DS

9 August 2024

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 8,575,084 9,605,429

Cost of sales 4,508,432 4,107,430
GROSS PROFIT 4,066,652 5,497,999

Administrative expenses 4,995,105 4,659,966
(928,453 ) 838,033

Other operating income 68,964 58,360
OPERATING (LOSS)/PROFIT 4 (859,489 ) 896,393

Interest receivable and similar income 5,884 1,070
(853,605 ) 897,463

Interest payable and similar expenses 5 9,467 (152 )
(LOSS)/PROFIT BEFORE TAXATION (863,072 ) 897,615

Tax on (loss)/profit 6 1,226 168,736
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(864,298

)

728,879

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (864,298 ) 728,879


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(864,298

)

728,879

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 503,258 482,049

CURRENT ASSETS
Debtors 8 2,369,359 1,632,972
Cash at bank and in hand 3,919,456 5,734,304
6,288,815 7,367,276
CREDITORS
Amounts falling due within one year 9 1,597,714 1,791,894
NET CURRENT ASSETS 4,691,101 5,575,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,194,359

6,057,431

PROVISIONS FOR LIABILITIES 10 41,543 40,317
NET ASSETS 5,152,816 6,017,114

CAPITAL AND RESERVES
Called up share capital 11 1,000,000 1,000,000
Retained earnings 12 4,152,816 5,017,114
SHAREHOLDERS' FUNDS 5,152,816 6,017,114

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





F S N WHITE - Director


ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 1,000,000 4,288,235 5,288,235

Changes in equity
Total comprehensive income - 728,879 728,879
Balance at 31 December 2022 1,000,000 5,017,114 6,017,114

Changes in equity
Total comprehensive income - (864,298 ) (864,298 )
Balance at 31 December 2023 1,000,000 4,152,816 5,152,816

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (369,282 ) 1,134,325
Interest paid (9,467 ) 152
Tax paid (151,532 ) (195,889 )
Net cash from operating activities (530,281 ) 938,588

Cash flows from investing activities
Purchase of tangible fixed assets (80,178 ) (66,326 )
Interest received 5,884 1,070
Net cash from investing activities (74,294 ) (65,256 )

Cash flows from financing activities
Group balances (1,210,273 ) 1,220,703
Net cash from financing activities (1,210,273 ) 1,220,703

(Decrease)/increase in cash and cash equivalents (1,814,848 ) 2,094,035
Cash and cash equivalents at beginning of
year

2

5,734,304

3,640,269

Cash and cash equivalents at end of year 2 3,919,456 5,734,304

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
(Loss)/profit before taxation (863,072 ) 897,615
Depreciation charges 58,814 51,331
Loss on disposal of fixed assets 155 -
Finance costs 9,467 (152 )
Finance income (5,884 ) (1,070 )
(800,520 ) 947,724
Decrease/(increase) in trade and other debtors 473,886 (167,720 )
(Decrease)/increase in trade and other creditors (42,648 ) 354,321
Cash generated from operations (369,282 ) 1,134,325

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 3,919,456 5,734,304
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 5,734,304 3,640,269


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 5,734,304 (1,814,848 ) 3,919,456
5,734,304 (1,814,848 ) 3,919,456
Total 5,734,304 (1,814,848 ) 3,919,456

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ST MAGNUS HOUSE 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgments and estimates have been made include:
- Useful life of fixed assets and depreciation rates
- Fair value of assets
- Recoverability of debts

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Care fees are recognised in the period in which they are receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Financial instruments are recognised at fair value with any gains or losses being reported in profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.

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.

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.

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 5,939,126 5,592,279
Social security costs 575,087 602,683
Other pension costs 86,648 87,107
6,600,861 6,282,069

The average number of employees during the year was as follows:
31.12.23 31.12.22

Administration 10 10
Nursing 116 120
126 130

31.12.23 31.12.22
£    £   
Directors' remuneration - -

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

31.12.23 31.12.22
£    £   
Depreciation - owned assets 58,814 51,331
Loss on disposal of fixed assets 155 -
Auditors remuneration 5,000 5,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Other interest 9,467 (152 )

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax - 159,650

Deferred tax:
Accelerated capital allowances 1,226 9,086
Tax on (loss)/profit 1,226 168,736

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
(Loss)/profit before tax (863,072 ) 897,615
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

(215,768

)

170,547

Effects of:
Capital allowances in excess of depreciation (1,226 ) (10,686 )
Utilisation of tax losses (1,471 ) -
Group relief 216,994 (207 )
Deferred tax 1,226 9,086
Other adjustments - (4 )
Tax on bank interest 1,471 -
Total tax charge 1,226 168,736

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 202,494 916,112 53,429 1,172,035
Additions - 43,968 36,210 80,178
Disposals - - (6,500 ) (6,500 )
At 31 December 2023 202,494 960,080 83,139 1,245,713
DEPRECIATION
At 1 January 2023 - 649,291 40,695 689,986
Charge for year - 46,618 12,196 58,814
Eliminated on disposal - - (6,345 ) (6,345 )
At 31 December 2023 - 695,909 46,546 742,455
NET BOOK VALUE
At 31 December 2023 202,494 264,171 36,593 503,258
At 31 December 2022 202,494 266,821 12,734 482,049

Included in cost of land and buildings is freehold land of £ 202,494 (2022 - £ 202,494 ) which is not depreciated.

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 633,420 1,108,306
Amounts owed by group undertakings 1,700,720 490,447
Prepayments 35,219 34,219
2,369,359 1,632,972

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,242,190 1,350,758
Tax 9,463 160,995
Social security and other taxes 160,500 150,050
Pension contributions 33,214 17,126
Wages control - 370
Accrued expenses 152,347 112,595
1,597,714 1,791,894

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 41,543 40,317

Deferred
tax
£   
Balance at 1 January 2023 40,317
Accelerated capital allowances 1,226
Balance at 31 December 2023 41,543

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000,000 Ordinary £1 1,000,000 1,000,000

12. RESERVES
Retained
earnings
£   

At 1 January 2023 5,017,114
Deficit for the year (864,298 )
At 31 December 2023 4,152,816

ST MAGNUS HOUSE LIMITED (Registered number: 06495501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

13. ULTIMATE PARENT COMPANY

Oldercare (Haslemere) Limited is regarded by the directors as being the company's ultimate parent company.