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Registration number: 05807763

Stanfield Nursing Home (Holdings) Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 3 April 2024

 

Stanfield Nursing Home (Holdings) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Stanfield Nursing Home (Holdings) Ltd

Company Information

Directors

Mr R L White

Mr J Biermann

Registered office

Stanfield Nursing Home
Upper Wick Lane
Rushwick
Worcester
Worcestershire
WR2 5SU
 

Bankers

The Royal Bank of Scotland plc
Cheltenham Branch
45 The Promenade
Cheltenham
Gloucestershire
 

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Stanfield Nursing Home (Holdings) Ltd

(Registration number: 05807763)

Balance Sheet
as at 3 April 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

2,066,769

 

2,148,014

Investments

5

 

150,750

 

150,750

   

2,217,519

 

2,298,764

Current assets

   

 

Debtors

6

526,562

 

555,842

 

Cash at bank and in hand

 

1,283,525

 

1,139,760

 

 

1,810,087

 

1,695,602

 

Creditors: Amounts falling due within one year

7

(130,685)

 

(151,049)

 

Net current assets

   

1,679,402

 

1,544,553

Total assets less current liabilities

   

3,896,921

 

3,843,317

Provisions for liabilities

 

(79,657)

 

(66,569)

Net assets

   

3,817,264

 

3,776,748

Capital and reserves

   

 

Called up share capital

1,000

 

1,000

 

Share premium reserve

149,200

 

149,200

 

Profit and loss account

3,667,064

 

3,626,548

 

Total equity

   

3,817,264

 

3,776,748

For the financial year ending 3 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Stanfield Nursing Home (Holdings) Ltd

(Registration number: 05807763)

Balance Sheet
as at 3 April 2024

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................
Mr R L White
Director

.........................................
Mr J Biermann
Director

 

Stanfield Nursing Home (Holdings) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 3 April 2024

1

General information

The company is a incorporated in England and Wales within the United Kingdom

The address of its registered office is:
Stanfield Nursing Home
Upper Wick Lane
Rushwick
Worcester
Worcestershire
WR2 5SU
United Kingdom

These financial statements were authorised for issue by the Board on 9 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Going concern

The company derives its income from letting freehold property to its wholly owned subsidiary, Stanfield Nursing Home Ltd. The financial statements have been prepared on a going concern basis because the directors considers that Stanfield Nursing Home Ltd will continue to meet its obligations under the lease.

Revenue recognition

Turnover represents rental income receivable in respect of the freehold properties of Stanfield Nursing Home and 92 Winchester Avenue, Worcester.

Rent is charged by reference to the number of beds available for use in the home in each month, in the case of Stanfield Nursing Home, and by reference to the rent received by Stanfield Nursing Home Ltd in the case of 92 Winchester Avenue.

 

Stanfield Nursing Home (Holdings) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 3 April 2024

Government grants

Capital grants were received from the government to finance property improvements to enable the company to adhere to Covid-19 regulations. Theses grants are treated as deferred income, and are being released to the profit and loss account at the rate of 2% per annum, to match the rate of depreciation of the corresponding assets.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

The company's freehold properties consist of Stanfield Nursing Home and 92 Winchester Avenue, Worcester, both of which are let to the company's wholly owwned subsidiary, Stanfield Nursing Home Ltd. Advantage has been taken of paragraph 16.4A(b) of FRS102 to recognise the freehold property at cost less accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on cost

Plant and machinery

4% on cost

Share capital

Ordinary shares and preference share are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Stanfield Nursing Home (Holdings) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 3 April 2024

4

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 4 April 2023

2,283,354

3,503

871,943

3,158,800

At 3 April 2024

2,283,354

3,503

871,943

3,158,800

Depreciation

At 4 April 2023

548,419

524

461,843

1,010,786

Charge for the year

45,667

701

34,877

81,245

At 3 April 2024

594,086

1,225

496,720

1,092,031

Carrying amount

At 3 April 2024

1,689,268

2,278

375,223

2,066,769

At 3 April 2023

1,734,935

2,979

410,100

2,148,014

5

Investments

2024
£

2023
£

Investments in subsidiaries

150,750

150,750

Subsidiaries

£

Cost or valuation

At 4 April 2023

150,750

Provision

Carrying amount

At 3 April 2024

150,750

At 3 April 2023

150,750

 

Stanfield Nursing Home (Holdings) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 3 April 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Stanfield Nursing Home Limited

Stanfield Nursing Home
Upper Wick Lane
Rushwick
Worcester
Worcestershire
WR2 5SU

England

Ordinary shares of £1

100%

100%

Stanfield Nursing Home Limited

The principal activity of Stanfield Nursing Home Limited is the operation of a residential nursing home..

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

526,562

555,842

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Corporation tax

81,737

60,686

Other creditors

35,405

76,544

Deferred income - government grants

13,543

13,819

130,685

151,049

 

Stanfield Nursing Home (Holdings) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 3 April 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary of £1 each

548

548

548

548

B Ordinary of £1 each

351

351

351

351

C Ordinary of £1 each

1

1

1

1

Cum Red Preference of £1 each

100

100

100

100

 

1,000

1,000

1,000

1,000