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Registration number: 04770971

Stanfield Nursing Home Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 3 April 2024

 

Stanfield Nursing Home Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Stanfield Nursing Home Limited

Company Information

Directors

Mr R L White

Mr J Biermann

Registered office

Upper Wick Lane
Rushwick
Worcester
Worcestershire
WR2 5SU
 

Bankers

The Royal Bank of Scotland plc
Southern Corporate Office
PO Box 391
40 Islington High Street
London
 

Accountants

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

 

Stanfield Nursing Home Limited

(Registration number: 04770971)

Balance Sheet
as at 3 April 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

1,008

 

1,512

Tangible assets

5

 

323,693

 

335,217

   

324,701

 

336,729

Current assets

   

 

Stocks

6,000

 

5,500

 

Debtors

6

148,281

 

116,354

 

Cash at bank and in hand

 

968,242

 

760,121

 

 

1,122,523

 

881,975

 

Creditors: Amounts falling due within one year

7

(782,122)

 

(757,107)

 

Net current assets

   

340,401

 

124,868

Total assets less current liabilities

   

665,102

 

461,597

Provisions for liabilities

 

(61,940)

 

(48,143)

Net assets

   

603,162

 

413,454

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

603,062

 

413,354

 

Total equity

   

603,162

 

413,454

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 Limited

(Registration number: 04770971)

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 Limited

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:
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.

Revenue recognition

Turnover represents the fees charged for residential nursing care, together with the provision of associated services. Turnover is recognised in accordance with the daily occupancy of the home.

Government grants

Capital grants were received from the government to finance the purchase of fixed assets 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 rates of 15% and 20% per annum, to match the rates of depreciation of the corresponding assets.

Tax

The tax expense for the period comprises of current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the UK, which is where the company operates and generates taxable income.

 

Stanfield Nursing Home Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Fixtures and fittings

15% on reducing balance and 10% on cost

Computer equipment

33% on cost

Motor vehicles

25% on reducing balance

Plant and machinery

20% on cost

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised evenly over its useful life of ten years.

Trade debtors

Trade debtors represent amounts due from residents and sponsoring local authorities for the cost of residential nursing care and associated services supplied in the ordinary course of business. These are stated at the transaction value.

Stocks

The stocks of food and cleaning materials are stated at cost.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are stated at the transaction value.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

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

 

Stanfield Nursing Home Limited

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

Dividends

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 81 (2023 - 78).

4

Intangible assets

Goodwill
 £

Computer software
£

Total
£

Cost or valuation

At 4 April 2023

75,000

2,520

77,520

At 3 April 2024

75,000

2,520

77,520

Amortisation

At 4 April 2023

75,000

1,008

76,008

Amortisation charge

-

504

504

At 3 April 2024

75,000

1,512

76,512

Carrying amount

At 3 April 2024

-

1,008

1,008

At 3 April 2023

-

1,512

1,512

 

Stanfield Nursing Home Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 4 April 2023

639,059

72,226

110,447

821,732

Additions

47,926

-

17,015

64,941

Disposals

(85,445)

-

(42,155)

(127,600)

At 3 April 2024

601,540

72,226

85,307

759,073

Depreciation

At 4 April 2023

382,182

34,606

69,727

486,515

Charge for the year

51,729

9,405

15,331

76,465

Eliminated on disposal

(85,445)

-

(42,155)

(127,600)

At 3 April 2024

348,466

44,011

42,903

435,380

Carrying amount

At 3 April 2024

253,074

28,215

42,404

323,693

At 3 April 2023

256,877

37,620

40,720

335,217

6

Debtors

Current

2024
£

2023
£

Trade debtors

130,511

104,427

Prepayments

8,520

11,927

Other debtors

9,250

-

 

148,281

116,354

 

Stanfield Nursing Home Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

4,210

1,536

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

526,562

555,841

Taxation and social security

 

63,536

20,756

Accruals and deferred income

 

75,196

102,172

Other creditors

 

112,618

76,802

 

782,122

757,107

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £321,000 (2023 - £321,000). A commitment of £321,000 is for rent of the building from the parent company Standfield Nursing Home (Holdings) Limited, which expires within one year.

10

Parent and ultimate parent undertaking

The company's immediate parent is Stanfield Nursing Home (Holdings) Ltd, incorporated in England and Wales.