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REGISTERED NUMBER: 09839018 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WINDMILL CARE (2015) LIMITED

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)






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

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 14


WINDMILL CARE (2015) LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Mrs K R Collacott
L J Collacott
Mrs S L Ashcroft





REGISTERED OFFICE: The Meadows
Cranleigh Court Road
Yate
Bristol
BS37 5DW





REGISTERED NUMBER: 09839018 (England and Wales)





AUDITORS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

STRATEGIC REPORT
for the Year Ended 31 DECEMBER 2023

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of providing residential care facilities for the elderly.

REVIEW OF BUSINESS

The company continued to grow its turnover during the year, with turnover for 2023 up to £4,340,386, an increase of £367,341 (9.2%) .

The company continued to generate and retain strong profit levels from this increased level of trading activity as in the prior year, and the net asset position of the company continued to increase accordingly, with net assets of £2.1m (2022 - £2.0m) being retained at the year end after £0.8m dividends were paid (2022 - £0.8m).

The residential home has maintained high occupancy levels throughout the year.

The underlying cash generated from operations was £1.9m before loans (2022 - £1.35m), and is expected to remain strong in the year to 31 December 2024.

The directors are satisfied with the performance of the company during the year and with the position at the year end.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The company finances its operations through the generation of cash from operating activities and bank borrowings are utilised to fund capital projects to enhance the property asset base of the company. The company therefore only has interest rate exposure on financial liabilities in relation to a long term loans secured on property. Management monitor the company's exposure to interest rate risk as market interest rates vary and against the value of the asset base of the company and consider the use of appropriate facilities such as interest rate caps to mitigate this risk.

Liquidity risk is managed through forecasting the future cash flow requirements of the business and maintaining sufficient cash at bank balances.

GOING CONCERN
No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

ON BEHALF OF THE BOARD:





L J Collacott - Director


2 September 2024

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

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
The total distribution of dividends for the year ended 31 December 2023 will be £790,480 (2022 - £877,775).

The directors recommend that no final dividend be paid.

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

Mrs K R Collacott
L J Collacott
Mrs S L Ashcroft

DISCLOSURE IN THE STRATEGIC REPORT
Information regarding the principal activity of the company, the financial risk management objectives and policies of the company and a review of business has been included in the strategic 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.

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

REPORT OF THE DIRECTORS
for the Year Ended 31 DECEMBER 2023


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

ON BEHALF OF THE BOARD:





L J Collacott - Director


2 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WINDMILL CARE (2015) LIMITED

Opinion
We have audited the financial statements of Windmill Care (2015) Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of 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 profit 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WINDMILL CARE (2015) LIMITED


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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WINDMILL CARE (2015) LIMITED


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:

An understanding of the legal and regulatory framework applicable to the entity was obtained from management and those charged with governance of the entity, and the audit engagement team was confirmed to have the appropriate competence and capabilities to identify non-compliance with such a framework.

No significant instances of fraud, non-compliance with laws and regulations or other irregularities were communicated to the engagement team by management or those charged with governance, and no particular audit areas or legislation were identified that gave rise to any significant risks of material misstatement in respect of such irregularities.

Due to the size and nature of the entity, its susceptibility to material misstatement resulting from fraud, non-compliance with laws and regulations, or other irregularities is considered to be low, and the audit approach was appropriately planned so as to address this risk.

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.

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.




Stephen Burnside BA ACA (Senior Statutory Auditor)
for and on behalf of Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

2 September 2024

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

STATEMENT OF COMPREHENSIVE INCOME
for the Year Ended 31 DECEMBER 2023

2023 2022
Notes £    £   

TURNOVER 4,340,386 3,973,045

Cost of sales 2,218,448 2,033,348
GROSS PROFIT 2,121,938 1,939,697

Administrative expenses 479,417 669,082
1,642,521 1,270,615

Other operating income 4,300 37,032
OPERATING PROFIT 4 1,646,821 1,307,647

Interest receivable and similar income 5 2,886 1,242
1,649,707 1,308,889

Interest payable and similar expenses 6 400,589 203,623
PROFIT BEFORE TAXATION 1,249,118 1,105,266

Tax on profit 7 371,696 224,600
PROFIT FOR THE FINANCIAL YEAR 877,422 880,666

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

877,422

880,666

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 6,417,846 6,595,715

CURRENT ASSETS
Debtors 10 3,081,989 2,617,293
Cash at bank and in hand 327,971 541,975
3,409,960 3,159,268
CREDITORS
Amounts falling due within one year 11 1,456,054 1,490,628
NET CURRENT ASSETS 1,953,906 1,668,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,371,752

8,264,355

CREDITORS
Amounts falling due after more than
one year

12

(6,028,796

)

(6,055,613

)

PROVISIONS FOR LIABILITIES 15 (239,215 ) (191,943 )
NET ASSETS 2,103,741 2,016,799

CAPITAL AND RESERVES
Called up share capital 16 120 120
Retained earnings 2,103,621 2,016,679
SHAREHOLDERS' FUNDS 2,103,741 2,016,799

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:




L J Collacott - Director



Mrs S L Ashcroft - Director


WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

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 120 2,013,788 2,013,908

Changes in equity
Dividends - (877,775 ) (877,775 )
Total comprehensive income - 880,666 880,666
Balance at 31 December 2022 120 2,016,679 2,016,799

Changes in equity
Dividends - (790,480 ) (790,480 )
Total comprehensive income - 877,422 877,422
Balance at 31 December 2023 120 2,103,621 2,103,741

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

CASH FLOW STATEMENT
for the Year Ended 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,518,067 920,437
Government grants 4,300 37,032
Tax paid (212,138 ) (212,629 )
Net cash from operating activities 1,310,229 744,840

Cash flows from investing activities
Purchase of tangible fixed assets - (63,339 )
Interest received 2,886 1,207
Net cash from investing activities 2,886 (62,132 )

Cash flows from financing activities
Loan repayments in year (351,050 ) (351,050 )
Interest paid (385,589 ) (251,748 )
Equity dividends paid (790,480 ) (877,775 )
Net cash from financing activities (1,527,119 ) (1,480,573 )

Decrease in cash and cash equivalents (214,004 ) (797,865 )
Cash and cash equivalents at
beginning of year

2

541,975

1,339,840

Cash and cash equivalents at end
of year

2

327,971

541,975

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 1,249,118 1,105,266
Depreciation charges 177,869 187,825
Government grants (4,300 ) (37,032 )
Finance costs 400,589 203,623
Finance income (2,886 ) (1,242 )
1,820,390 1,458,440
Increase in trade and other debtors (464,696 ) (512,643 )
Increase/(decrease) in trade and other creditors 162,373 (25,360 )
Cash generated from operations 1,518,067 920,437

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 327,971 541,975
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 541,975 1,339,840


WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 DECEMBER 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 541,975 (214,004 ) 327,971
541,975 (214,004 ) 327,971
Debt
Debts falling due within 1 year (351,050 ) 324,233 (26,817 )
Debts falling due after 1 year (6,055,613 ) 26,817 (6,028,796 )
(6,406,663 ) 351,050 (6,055,613 )
Total (5,864,688 ) 137,046 (5,727,642 )

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Windmill Care (2015) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost

Government grants
The company has received Government grants during the period from the Workforce Development Fund towards quality training. In the previous year grants were also received from the Adult social care infection control fund to support care homes through the coronavirus outbreak. Grants receivable and relating to the accounting period have been recognised as Other Operating Income under the accruals method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Going concern
The company has been profitable for each of the last two years. The company had healthy net current assets and net assets at the Balance Sheet date. The company has remained profitable in the period up to the signing of these financial statements.

In our opinion, the company is a going concern and the period over which we have considered its ability to continue as a going concern is at least 12 months from the date of signing the financial statements.

This assessment is based upon knowledge of occupancy levels and the company's on-going cost base projecting performance, cash generation and the availability of banking and other facilities to meet the needs of the business.

We fully expect that the company will remain a going concern and we will endeavour to ensure that the company has sufficient working capital to meet its requirements for the foreseeable future. We will continue to carefully monitor the situation and have alternative plans in place should the need arise.

In light of the above, we have reviewed the going concern status of the business for the foreseeable future to the best of our abilities and have concluded that we have a reasonable expectation that the company has more than adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing the financial statements.

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.

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Non-basic financial instruments are held at fair value and revalued at each period end. Any gains or losses on the fair value of non-basic financial instruments is recorded through profit and loss.

Employee benefits
Short term employee benefits including holiday pay and annual bonuses are accrued as services are rendered. Contributions to defined pension schemes are charged to the income statement as they become payable in accordance with the rules of the scheme. Differences between contributions payable in the year and those actually paid are shown as either accruals or prepayments in the balance sheet.

Significant judgements and estimates
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the year. The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date are discussed below.

Tangible fixed assets
Determining the period over which to depreciate different classes of tangible assets requires management to make an estimate of the useful economic life of these assets. Management are also required to estimate the residual value of property, which will have an effect on the amount of depreciation charged.

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,720,221 1,617,203
Social security costs 129,093 116,402
Other pension costs 81,942 27,356
1,931,256 1,760,961

The average number of employees during the year was as follows:
2023 2022

Directors and management 3 3
Residential care staff 85 86
88 89

2023 2022
£    £   
Directors' remuneration 8,806 8,450

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 177,869 187,825
Auditors' remuneration 5,665 5,690
Other non- audit services 12,208 9,998

5. INTEREST RECEIVABLE AND SIMILAR INCOME
2023 2022
£    £   
Bank interest 2,827 1,207
Other interest receivable 59 35
2,886 1,242

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 385,589 188,623
Loan interest 15,000 15,000
400,589 203,623

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 324,424 212,079

Deferred tax 47,272 12,521
Tax on profit 371,696 224,600

UK corporation tax has been charged at 23.52% (2022 - 19%).

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:

2023 2022
£    £   
Profit before tax 1,249,118 1,105,266
Profit multiplied by the standard rate of corporation tax in the UK
of 23.520% (2022 - 19%)

293,793

210,001

Effects of:
Depreciation in excess of capital allowances 18,079 14,599
Deferred tax charge at 25pc not rate above (790 ) -
Deferred tax balances b/f at 19pc, now at 25pc 60,614 -
Total tax charge 371,696 224,600

8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 790,480 877,775

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 6,875,499 20,831 586,873 122,663 7,605,866
DEPRECIATION
At 1 January 2023 565,182 14,005 394,566 36,398 1,010,151
Charge for year 113,510 1,365 38,461 24,533 177,869
At 31 December 2023 678,692 15,370 433,027 60,931 1,188,020
NET BOOK VALUE
At 31 December 2023 6,196,807 5,461 153,846 61,732 6,417,846
At 31 December 2022 6,310,317 6,826 192,307 86,265 6,595,715

The freehold property is subject to a legal charge held by the bank as security for the loan.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 184,087 195,391
Other debtors 2,897,902 2,421,902
3,081,989 2,617,293

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13)
26,817

351,050
Trade creditors 83,175 55,678
Corporation tax 324,330 212,044
Social security and other taxes 36,616 32,246
Other creditors 902,657 747,906
Accruals and deferred income 82,459 91,704
1,456,054 1,490,628

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 13) 6,028,796 6,055,613

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 26,817 351,050

Amounts falling due between one and two years:
Bank loans - 1-2 years 210,441 6,055,613

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,818,355 -

14. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 6,055,613 6,406,663

Bank loans are secured by a first charge on the freehold property, together with a fixed and floating charge over all the company's assets.

15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 252,473 192,440
Other timing differences (13,258 ) (497 )
239,215 191,943

Deferred
tax
£   
Balance at 1 January 2023 191,943
Charge to Statement of Comprehensive Income during year 47,272
Balance at 31 December 2023 239,215

WINDMILL CARE (2015) LIMITED (REGISTERED NUMBER: 09839018)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
120 Ordinary £1 120 120

The issued share capital of the company of 120 Ordinary shares of £1 each is allocated as follows:

37 Ordinary A shares of £1 each
37 Ordinary B shares of £1 each
40 Ordinary C shares of £1 each
2 Ordinary D shares of £1 each
2 Ordinary E shares of £1 each
2 Ordinary F shares of £1 each

17. RELATED PARTY DISCLOSURES

Windmill Care Group Limited holds a significant minority shareholding in this company. Windmill Care Group Limited has given a guarantee for £2.3m to the company's bankers as security over the bank loan. At the year end date the company was owed £2,897,900 (2022 - £2,421,900) by Windmill Care Group Limited.

Included within Other creditors is an amount of £600,000 (2022 - £600,000) which is owed to Windmill Care Limited, a subsidiary of Windmill Care Group Limited. This amount is unsecured and subject to informal repayment terms over the next 8 years, with interest being charged at 2.5% per annum. During the year interest amounting to £15,000 (2022 - £15,000) was charged by Windmill Care Limited.

During the year the company paid a management charge of £Nil (2022 - £257,000) to Windmill Care Limited for services provided.

The company was under the joint control of Mr L J Collacott and Mrs K R Collacott throughout the year.