Company registration number 08118397 (England and Wales)
QUEENSGATE HEALTHCARE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
QUEENSGATE HEALTHCARE LIMITED
COMPANY INFORMATION
Directors
B Bhundia
G Patel
A Sharp
Company number
08118397
Registered office
29/30 Fitzroy Square
London
United Kingdom
W1T 6LQ
Auditor
Goodman Jones LLP
29/30 Fitzroy Square
London
W1T 6LQ
QUEENSGATE HEALTHCARE LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Income statement
7
Group statement of comprehensive income
8
Group statement of financial position
9
Company statement of financial position
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 28
QUEENSGATE HEALTHCARE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

The directors present the strategic report for the year ended 30 November 2023.

Review of the business

The company operates a well regarded care home in the South East and continues to do so. The company performed well during the year. Revenue rose by 4% for the period as room rates increased to cover the rise in underlying costs.

 

The company's key performance indicator is average occupancy levels:

 

2023            2022

 

Average occupancy                  92.1%        95.9%

Principal risks and uncertainties

Management has put in place various controls and procedures to ensure resident safety is maintained at the highest level and Government legislation is adhered to.

 

The ability to maintain and retain good people is important to ensure an adequate level of care and help manage labour costs.

 

Financial risk management objectives and policies

The Company's principal financial instruments comprise of bank loan balances, debtors and creditors. The Company is exposed to variations in interest rates in connection with bank borrowings. This risk is managed by ensuring that the most appropriate interest rate agreements are entered into through which the company can comfortably service the level of debt.

 

Other risks

The Company is not exposed to any material other operational risks. There is a high level of demand for the Company's services not only due to the age demography of the UK population but also because of the high quality of care offered.

On behalf of the board

B Bhundia
Director
26 April 2024
QUEENSGATE HEALTHCARE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -

The directors present their annual report and financial statements for the year ended 30 November 2023.

Principal activities

The principal activity of the company and group is the provision of residential care for the elderly.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £nil (2022: £152,270). The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

B Bhundia
G Patel
A Sharp
Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Going concern

The Directors are confident that the company has adequate resources in place. With the new bank loan negotiated in the year the company has secured lending at an acceptable interest rate and under covenants the company can comfortably meet. Combined with the high level of demand for the company's services, it remains appropriate to adopt the going concern basis in preparing the annual report and financial statements.

QUEENSGATE HEALTHCARE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
B Bhundia
Director
26 April 2024
QUEENSGATE HEALTHCARE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF QUEENSGATE HEALTHCARE LIMITED
- 4 -
Opinion

We have audited the financial statements of Queensgate Healthcare Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2023 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

QUEENSGATE HEALTHCARE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF QUEENSGATE HEALTHCARE LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 parent 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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 that the principal risks of non-compliance with laws and regulations related to industry sector regulations and unethical and prohibited business practices, 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 the Companies Act 2006 and UK Tax Legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried. These procedures included:

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout

the audit.

 

QUEENSGATE HEALTHCARE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF QUEENSGATE HEALTHCARE LIMITED
- 6 -

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely

we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Sarf Malik (Senior Statutory Auditor)
For and on behalf of Goodman Jones LLP
26 April 2024
Chartered Accountants
Statutory Auditor
29/30 Fitzroy Square
London
W1T 6LQ
QUEENSGATE HEALTHCARE LIMITED
GROUP INCOME STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
2023
2022
Notes
£
£
Revenue
2
4,332,898
4,182,648
Cost of sales
(2,805,615)
(2,731,795)
Gross profit
1,527,283
1,450,853
Administrative expenses
(163,481)
(276,233)
Other operating income
-
70,854
Profit on sale of freehold property
3
-
0
124,164
Operating profit before depreciation
4
1,363,802
1,369,638
Depreciation
(506,983)
(486,879)
Operating profit
856,819
882,759
Investment income
8
42,176
5,308
Finance costs
9
(472,841)
(314,160)
Profit before taxation
426,154
573,907
Tax on profit
10
(208,059)
(156,714)
Profit for the financial year
218,095
417,193
Profit for the financial year is all attributable to the owners of the parent company.
QUEENSGATE HEALTHCARE LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
2023
2022
£
£
Profit for the year
218,095
417,193
Other comprehensive income
Tax relating to other comprehensive income
1,959
25,675
Total comprehensive income for the year
220,054
442,868
Total comprehensive income for the year is all attributable to the owners of the parent company.
QUEENSGATE HEALTHCARE LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 9 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
12
15,228,702
15,326,529
Current assets
Trade and other receivables
15
474,246
471,488
Cash and cash equivalents
1,595,208
2,172,133
2,069,454
2,643,621
Current liabilities
16
(1,544,972)
(8,107,805)
Net current assets/(liabilities)
524,482
(5,464,184)
Total assets less current liabilities
15,753,184
9,862,345
Non-current liabilities
17
(5,623,811)
-
Provisions for liabilities
Deferred tax liability
19
2,943,583
2,896,609
(2,943,583)
(2,896,609)
Net assets
7,185,790
6,965,736
Equity
Called up share capital
21
300,560
300,560
Revaluation reserve
3,045,975
3,327,231
Capital redemption reserve
200,040
200,040
Retained earnings
3,639,215
3,137,905
Total equity
7,185,790
6,965,736

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 26 April 2024 and are signed on its behalf by:
26 April 2024
B Bhundia
Director
Company registration number 08118397 (England and Wales)
QUEENSGATE HEALTHCARE LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023
30 November 2023
- 10 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
12
15,228,702
15,326,529
Investments
13
100
100
15,228,802
15,326,629
Current assets
Trade and other receivables
15
469,735
800,620
Cash and cash equivalents
1,529,388
2,100,457
1,999,123
2,901,077
Current liabilities
16
(1,535,094)
(8,095,414)
Net current assets/(liabilities)
464,029
(5,194,337)
Total assets less current liabilities
15,692,831
10,132,292
Non-current liabilities
17
(5,623,811)
-
Provisions for liabilities
Deferred tax liability
19
2,943,583
2,896,609
(2,943,583)
(2,896,609)
Net assets
7,125,437
7,235,683
Equity
Called up share capital
21
300,560
300,560
Revaluation reserve
3,045,975
3,327,231
Capital redemption reserve
200,040
200,040
Retained earnings
3,578,862
3,407,852
Total equity
7,125,437
7,235,683

As permitted by s408 Companies Act 2006, the company has not presented its own income statement and related notes. The company’s loss for the year was £112,205 (2022 - £448,701 profit).

The financial statements were approved by the board of directors and authorised for issue on 26 April 2024 and are signed on its behalf by:
26 April 2024
B Bhundia
Director
Company registration number 08118397 (England and Wales)
QUEENSGATE HEALTHCARE LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 11 -
Share capital
Revaluation reserve
Capital redemption reserve
Retained earnings
Total
Notes
£
£
£
£
£
Balance at 1 December 2021
400,580
3,584,650
100,020
5,401,218
9,486,468
Year ended 30 November 2022:
Profit for the year
-
-
-
417,193
417,193
Other comprehensive income:
Tax relating to other comprehensive income
-
25,675
-
-
0
25,675
Total comprehensive income for the year
-
25,675
-
417,193
442,868
Dividends
11
-
-
-
(152,270)
(152,270)
Redemption of shares
21
(100,020)
-
100,020
(2,811,330)
(2,811,330)
Transfers
-
(283,094)
-
283,094
-
Balance at 30 November 2022
300,560
3,327,231
200,040
3,137,905
6,965,736
Year ended 30 November 2023:
Profit for the year
-
-
-
218,095
218,095
Other comprehensive income:
Tax relating to other comprehensive income
-
1,959
-
-
0
1,959
Total comprehensive income for the year
-
1,959
-
218,095
220,054
Transfers
-
(283,215)
-
283,215
-
Balance at 30 November 2023
300,560
3,045,975
200,040
3,639,215
7,185,790
QUEENSGATE HEALTHCARE LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 12 -
Share capital
Revaluation reserve
Capital redemption reserve
Retained earnings
Total
Notes
£
£
£
£
£
Balance at 1 December 2021
400,580
3,584,650
100,020
5,639,657
9,724,907
Year ended 30 November 2022:
Profit for the year
-
-
-
448,701
448,701
Other comprehensive income:
Tax relating to other comprehensive income
-
25,675
-
-
0
25,675
Total comprehensive income for the year
-
25,675
-
448,701
474,376
Dividends
11
-
-
-
(152,270)
(152,270)
Redemption of shares
21
(100,020)
-
100,020
(2,811,330)
(2,811,330)
Transfers
-
(283,094)
-
283,094
-
Balance at 30 November 2022
300,560
3,327,231
200,040
3,407,852
7,235,683
Year ended 30 November 2023:
Loss for the year
-
-
-
(112,205)
(112,205)
Other comprehensive income:
Tax relating to other comprehensive income
-
1,959
-
-
0
1,959
Total comprehensive income for the year
-
1,959
-
(112,205)
(110,246)
Transfers
-
(283,215)
-
283,215
-
Balance at 30 November 2023
300,560
3,045,975
200,040
3,578,862
7,125,437
QUEENSGATE HEALTHCARE LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 13 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
1,217,392
1,983,001
Interest paid
(472,841)
(314,160)
Income taxes paid
(184,751)
(259,613)
Net cash inflow from operating activities
559,800
1,409,228
Investing activities
Purchase of property, plant and equipment
(409,156)
(620,834)
Proceeds from disposal of property, plant and equipment
-
3,208,374
Interest received
42,176
5,308
Net cash (used in)/generated from investing activities
(366,980)
2,592,848
Financing activities
Redemption of shares
-
0
(2,811,330)
Proceeds from new bank loans
5,975,000
-
Repayment of bank loans
(6,744,745)
(357,500)
Dividends paid to equity shareholders
-
0
(152,270)
Net cash used in financing activities
(769,745)
(3,321,100)
Net (decrease)/increase in cash and cash equivalents
(576,925)
680,976
Cash and cash equivalents at beginning of year
2,172,133
1,491,157
Cash and cash equivalents at end of year
1,595,208
2,172,133
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 14 -
1
Accounting policies
Company information

Queensgate Healthcare Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 29-30 Fitzroy Square, London, W1T 6LQ.

 

The group consists of Queensgate Healthcare Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Queensgate Healthcare Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 30 November 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 15 -

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group statement of financial position at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

The Directors have performed an assessment over the Group and the Company's ability to continue as a going concern for a period of at least 12 months from the date of the approval of the financial statements.

 

Having prepared forecasts based on current resources the directors are satisfied that adequate resources through existing agreed facilities to meet its obligations as they fall due as the home continues to maintain occupancy levels. A new bank loan of £5.975m was negotiated and came into use in the year. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.5
Revenue

Turnover represents amounts chargeable in respect of the provision of residential care services. Where the amount received relates to a period which crosses the balance sheet date, the amount is apportioned over the period to which it relates.

1.6
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% Straight Line
Plant and equipment
10% Straight Line
Fixtures and fittings
25% Straight Line
Motor vehicles
25% Straight Line

No depreciation is provided in respect of freehold land.

 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

 

QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 16 -
1.7
Non-current investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of non-current assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 17 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 18 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 19 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Revenue
2023
2022
£
£
Revenue analysed by class of business
Residential care
4,332,898
4,182,648
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
2
Revenue
(Continued)
- 20 -
2023
2022
£
£
Revenue analysed by geographical market
United Kingdom
4,332,898
4,182,648
2023
2022
£
£
Other revenue
Interest income
42,176
5,308
Grants received
-
70,854
3
Exceptional item
2023
2022
£
£
Expenditure
Profit on sale of freehold property
-
(124,164)
-
(124,164)
4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
-
(70,854)
Depreciation of owned property, plant and equipment
506,983
486,879
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
17,160
15,600
Audit of the financial statements of the company's subsidiaries
2,200
2,000
19,360
17,600
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 21 -
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Management, office and administration
11
7
9
7
Care home operations
79
79
79
79
Total
90
86
88
86

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
2,040,599
2,072,177
2,040,599
2,063,178
Pension costs
60,509
95,482
60,509
23,482
2,101,108
2,167,659
2,101,108
2,086,660
7
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
71,850
98,000
Company pension contributions to defined contribution schemes
27,600
72,000
99,450
170,000

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2022 - 2).

8
Investment income
2023
2022
£
£
Interest income
Interest on bank deposits
42,176
5,308
2023
2022
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
42,176
5,308
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 22 -
9
Finance costs
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
437,090
261,572
Other finance costs:
Other interest
35,751
52,588
Total finance costs
472,841
314,160
10
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
152,299
176,946
Adjustments in respect of prior periods
-
0
(20,201)
Total current tax
152,299
156,745
Deferred tax
Origination and reversal of timing differences
55,760
(31)
Total tax charge
208,059
156,714

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
426,154
573,907
Expected tax charge based on the standard rate of corporation tax in the UK of 23.00% (2022: 19.00%)
98,015
109,042
Tax effect of expenses that are not deductible in determining taxable profit
377
(3,318)
Unutilised tax losses carried forward
-
0
5,987
Adjustments in respect of prior years
-
0
(20,201)
Group relief
(8,309)
-
0
Permanent capital allowances in excess of depreciation
(54,389)
(27,273)
Depreciation on assets not qualifying for tax allowances
116,606
92,508
Deferred tax
55,759
(31)
Taxation charge
208,059
156,714
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
10
Taxation
(Continued)
- 23 -

In addition to the amount charged to the income statement, the following amounts relating to tax have been recognised directly in other comprehensive income:

2023
2022
£
£
Deferred tax arising on:
Revaluation of property
(1,959)
(25,675)

Changes to UK corporation tax rates were substantively enacted by the Finance Bill 2021 including an increase in the corporation tax rate to 25% from 1 April 2023. Deferred tax is recognised at 25% in the current year.

11
Dividends
2023
2022
Recognised as distributions to equity holders:
£
£
Interim paid
-
152,270
12
Property, plant and equipment
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 December 2022
16,703,754
804,907
1,026,540
26,400
18,561,601
Additions
7,837
24,182
364,052
13,085
409,156
At 30 November 2023
16,711,591
829,089
1,390,592
39,485
18,970,757
Depreciation and impairment
At 1 December 2022
1,672,955
729,483
806,234
26,400
3,235,072
Depreciation charged in the year
343,338
26,457
136,643
545
506,983
At 30 November 2023
2,016,293
755,940
942,877
26,945
3,742,055
Carrying amount
At 30 November 2023
14,695,298
73,149
447,715
12,540
15,228,702
At 30 November 2022
15,030,799
75,424
220,306
-
0
15,326,529
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
12
Property, plant and equipment
(Continued)
- 24 -
Company
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 December 2022
16,703,754
804,907
1,026,540
26,400
18,561,601
Additions
7,837
24,182
364,052
13,085
409,156
At 30 November 2023
16,711,591
829,089
1,390,592
39,485
18,970,757
Depreciation and impairment
At 1 December 2022
1,672,955
729,483
806,234
26,400
3,235,072
Depreciation charged in the year
343,338
26,457
136,643
545
506,983
At 30 November 2023
2,016,293
755,940
942,877
26,945
3,742,055
Carrying amount
At 30 November 2023
14,695,298
73,149
447,715
12,540
15,228,702
At 30 November 2022
15,030,799
75,424
220,306
-
0
15,326,529

The freehold land and buildings were professionally valued on an open market existing use basis by a firm of independent valuers.

Included in freehold land and buildings are assets carried at valuation. If these assets were measured using the cost model, the carrying amounts would be as follows:

2023
2022
£
£
Group and company
Cost
4,584,658
4,576,821
Accumulated depreciation
(580,304)
(576,023)
Carrying value
4,004,354
4,000,798
13
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
100
100
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
13
Fixed asset investments
(Continued)
- 25 -
Movements in non-current investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 December 2022 and 30 November 2023
100
Carrying amount
At 30 November 2023
100
At 30 November 2022
100
14
Subsidiaries

Details of the company's subsidiaries at 30 November 2023 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
The Bridge Care Home Limited
England and Wales
Care homes
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

29-30 Fitzroy Square, London, W1T 6LQ
15
Trade and other receivables
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade receivables
319,474
303,401
319,474
303,401
Amounts owed by group undertakings
-
-
-
154,037
Other receivables
131,842
110,673
127,331
105
Prepayments and accrued income
22,930
50,588
22,930
50,588
474,246
464,662
469,735
508,131
Amounts falling due after more than one year:
Amounts owed by group undertakings
-
-
-
285,663
Deferred tax asset (note 19)
-
0
6,826
-
0
6,826
-
6,826
-
292,489
Total debtors
474,246
471,488
469,735
800,620
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 26 -
16
Current liabilities
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans
18
220,194
6,613,750
220,194
6,613,750
Trade payables
92,355
333,727
92,355
333,727
Corporation tax payable
124,698
157,149
124,698
157,149
Other taxation and social security
44,830
58,021
44,830
54,968
Other payables
636,335
615,629
635,795
615,629
Accruals and deferred income
426,560
329,529
417,222
320,191
1,544,972
8,107,805
1,535,094
8,095,414
17
Non-current liabilities
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans
18
5,623,811
-
0
5,623,811
-
0
18
Borrowings
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
5,844,005
6,613,750
5,844,005
6,613,750
Payable within one year
220,194
6,613,750
220,194
6,613,750
Payable after one year
5,623,811
-
0
5,623,811
-
0

The bank loans and overdraft are secured by fixed and floating charges over the undertaking and all property and assets both present and future.

19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2023
2022
2023
2022
Group
£
£
£
£
Accelerated capital allowances
48,931
-
-
6,826
Revaluations
2,894,652
2,896,609
-
-
2,943,583
2,896,609
-
6,826
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
19
Deferred taxation
(Continued)
- 27 -
Liabilities
Liabilities
Assets
Assets
2023
2022
2023
2022
Company
£
£
£
£
Accelerated capital allowances
48,931
-
-
6,826
Revaluations
2,894,652
2,896,609
-
-
2,943,583
2,896,609
-
6,826
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 December 2022
2,889,783
2,889,783
Charge to profit or loss
55,759
55,759
Credit to other comprehensive income
(1,959)
(1,959)
Liability at 30 November 2023
2,943,583
2,943,583

The deferred tax liability set out above comprises of fair value movements on land & buildings and is disclosed as long term. The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

20
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
60,509
95,482

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

21
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
3,005,601
3,005,601
300,560
300,560
QUEENSGATE HEALTHCARE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 28 -
22
Related party transactions

At the balance sheet date, an amount of £330,000 (2022: £439,700) was owed to the company by its subsidiary The Bridge Care Home Limited. Interest income of £nil (2022: £51,728) was receivable by the company on these amounts.

 

An interest charge of £35,059 was payable in respect of a personal guarantee given on a bank loan by B Bhundia. The guarantee was released in the year. Also included in creditors at the balance sheet date is £173,333 due to him.

 

Included within debtors due in one year is £126,456 due to HBC 2022 Limited. Included in creditors is £3,625 due to HBC 2021 Limited. A Sharp and B Bhundia are directors of these companies.

23
Controlling party

There is no controlling party.

24
Cash generated from group operations
2023
2022
£
£
Profit for the year after tax
218,095
417,193
Adjustments for:
Taxation charged
208,059
156,714
Finance costs
472,841
314,160
Investment income
(42,176)
(5,308)
Depreciation and impairment of property, plant and equipment
506,983
486,879
Movements in working capital:
(Increase)/decrease in trade and other receivables
(9,584)
211,056
(Decrease)/increase in trade and other payables
(136,826)
402,307
Cash generated from operations
1,217,392
1,983,001
25
Analysis of changes in net debt - group
1 December 2022
Cash flows
30 November 2023
£
£
£
Cash at bank and in hand
2,172,133
(576,925)
1,595,208
Borrowings excluding overdrafts
(6,613,750)
769,745
(5,844,005)
(4,441,617)
192,820
(4,248,797)
2023-11-302022-12-01falseCCH SoftwareCCH Accounts Production 2024.200B BhundiaG PatelZ DhananiJ HaltonMr Harish PatelJ BhundiaA SharpP Bhundiafalsefalse08118397bus:Consolidated2022-12-012023-11-30081183972022-12-012023-11-3008118397bus:Director12022-12-012023-11-3008118397bus:Director22022-12-012023-11-3008118397bus:Director72022-12-012023-11-3008118397bus:Director32022-12-012023-11-3008118397bus:Director42022-12-012023-11-3008118397bus:Director52022-12-012023-11-3008118397bus:Director62022-12-012023-11-3008118397bus:Director82022-12-012023-11-3008118397bus:RegisteredOffice2022-12-012023-11-30081183972023-11-3008118397bus:Consolidated2021-12-012022-11-3008118397bus:Consolidated12022-12-012023-11-3008118397bus:Consolidated12021-12-012022-11-30081183972021-12-012022-11-3008118397core:RevaluationReservebus:Consolidated2021-12-012022-11-3008118397core:RevenueReservesInvestmentFundsOnlybus:Consolidated2021-12-012022-11-3008118397core:RevaluationReservebus:Consolidated2022-12-012023-11-3008118397core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-12-012023-11-3008118397core:RevaluationReserve2021-12-012022-11-3008118397core:RetainedEarningsAccumulatedLosses2021-12-012022-11-3008118397core:RevaluationReserve2022-12-012023-11-3008118397core:RetainedEarningsAccumulatedLosses2022-12-012023-11-3008118397bus:Consolidated2023-11-3008118397bus:Consolidated2022-11-30081183972022-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-11-3008118397core:PlantMachinerybus:Consolidated2023-11-3008118397core:FurnitureFittingsbus:Consolidated2023-11-3008118397core:MotorVehiclesbus:Consolidated2023-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-11-3008118397core:PlantMachinerybus:Consolidated2022-11-3008118397core:FurnitureFittingsbus:Consolidated2022-11-3008118397core:MotorVehiclesbus:Consolidated2022-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssets2023-11-3008118397core:PlantMachinery2023-11-3008118397core:FurnitureFittings2023-11-3008118397core:MotorVehicles2023-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssets2022-11-3008118397core:PlantMachinery2022-11-3008118397core:FurnitureFittings2022-11-3008118397core:MotorVehicles2022-11-3008118397core:ShareCapitalbus:Consolidated2023-11-3008118397core:ShareCapitalbus:Consolidated2022-11-3008118397core:RevaluationReservebus:Consolidated2023-11-3008118397core:RevaluationReservebus:Consolidated2022-11-3008118397core:CapitalRedemptionReservebus:Consolidated2023-11-3008118397core:CapitalRedemptionReservebus:Consolidated2022-11-3008118397core:ShareCapital2023-11-3008118397core:ShareCapital2022-11-3008118397core:RevaluationReserve2023-11-3008118397core:RevaluationReserve2022-11-3008118397core:CapitalRedemptionReserve2023-11-3008118397core:CapitalRedemptionReserve2022-11-3008118397core:RetainedEarningsAccumulatedLosses2023-11-3008118397core:ShareCapitalbus:Consolidated2021-11-3008118397core:SharePremiumbus:Consolidated2021-11-3008118397core:CapitalRedemptionReservebus:Consolidated2021-11-3008118397core:RetainedEarningsAccumulatedLossesbus:Consolidated2021-11-3008118397core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-11-3008118397core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-11-3008118397core:ShareCapital2021-11-3008118397core:RevaluationReserve2021-11-3008118397core:CapitalRedemptionReserve2021-11-3008118397core:RetainedEarningsAccumulatedLosses2021-11-3008118397core:RetainedEarningsAccumulatedLosses2022-11-3008118397bus:Consolidated2021-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-012023-11-3008118397core:PlantMachinery2022-12-012023-11-3008118397core:FurnitureFittings2022-12-012023-11-3008118397core:MotorVehicles2022-12-012023-11-3008118397core:UKTaxbus:Consolidated2022-12-012023-11-3008118397core:UKTaxbus:Consolidated2021-12-012022-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-11-3008118397core:PlantMachinerybus:Consolidated2022-11-3008118397core:FurnitureFittingsbus:Consolidated2022-11-3008118397core:MotorVehiclesbus:Consolidated2022-11-3008118397bus:Consolidated2022-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssets2022-11-3008118397core:PlantMachinery2022-11-3008118397core:FurnitureFittings2022-11-3008118397core:MotorVehicles2022-11-30081183972022-11-3008118397core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-12-012023-11-3008118397core:PlantMachinerybus:Consolidated2022-12-012023-11-3008118397core:FurnitureFittingsbus:Consolidated2022-12-012023-11-3008118397core:MotorVehiclesbus:Consolidated2022-12-012023-11-3008118397core:CurrentFinancialInstruments2023-11-3008118397core:CurrentFinancialInstruments2022-11-3008118397core:CurrentFinancialInstrumentsbus:Consolidated2023-11-3008118397core:CurrentFinancialInstrumentsbus:Consolidated2022-11-3008118397core:Non-currentFinancialInstrumentsbus:Consolidated2023-11-3008118397core:Non-currentFinancialInstrumentsbus:Consolidated2022-11-3008118397core:Non-currentFinancialInstruments2023-11-3008118397core:Non-currentFinancialInstruments2022-11-3008118397core:WithinOneYearbus:Consolidated2023-11-3008118397core:WithinOneYearbus:Consolidated2022-11-3008118397core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3008118397core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3008118397core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-11-3008118397core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2022-11-3008118397core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3008118397core:Non-currentFinancialInstrumentscore:AfterOneYear2022-11-3008118397core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-11-3008118397core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-11-3008118397bus:PrivateLimitedCompanyLtd2022-12-012023-11-3008118397bus:FRS1022022-12-012023-11-3008118397bus:Audited2022-12-012023-11-3008118397bus:ConsolidatedGroupCompanyAccounts2022-12-012023-11-3008118397bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP