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COMPANY REGISTRATION NUMBER: 03121760
Hollybank Nursing Home Limited
Filleted Unaudited Abridged Financial Statements
31 December 2023
Hollybank Nursing Home Limited
Abridged Financial Statements
Year Ended 31 December 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Hollybank Nursing Home Limited
Abridged Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
6
287,161
300,802
Current Assets
Stocks
700
700
Debtors
49,370
29,306
Cash at bank and in hand
5,011
21,327
--------
--------
55,081
51,333
Creditors: amounts falling due within one year
143,253
106,163
---------
---------
Net Current Liabilities
88,172
54,830
---------
---------
Total Assets Less Current Liabilities
198,989
245,972
Provisions
Taxation including deferred tax
3,893
4,409
---------
---------
Net Assets
195,096
241,563
---------
---------
Capital and Reserves
Called up share capital
7
73
73
Other reserves
27
27
Profit and loss account
194,996
241,463
---------
---------
Shareholders Funds
195,096
241,563
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Hollybank Nursing Home Limited
Abridged Statement of Financial Position (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mrs M A Dibb
Director
Company registration number: 03121760
Hollybank Nursing Home Limited
Notes to the Abridged Financial Statements
Year Ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30-32 Skinner Street, Creswell, Worksop, Nottinghamshire, S80 4JH.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents residents fees chargeable for the reported period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land & Buildings
-
2% straight line
Plant & Machinery
-
20% reducing balance
Fixtures & Fittings
-
5% straight line
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 39 (2022: 39 ).
5. Intangible assets
£
Cost
At 1 January 2023 and 31 December 2023
10,000
--------
Amortisation
At 1 January 2023 and 31 December 2023
10,000
--------
Carrying amount
At 31 December 2023
--------
At 31 December 2022
--------
6. Tangible assets
£
Cost
At 1 January 2023 and 31 December 2023
694,258
---------
Depreciation
At 1 January 2023
393,456
Charge for the year
13,641
---------
At 31 December 2023
407,097
---------
Carrying amount
At 31 December 2023
287,161
---------
At 31 December 2022
300,802
---------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
73
73
73
73
----
----
----
----
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
14,629
14,629
Later than 1 year and not later than 5 years
54,860
58,517
Later than 5 years
10,972
--------
--------
69,489
84,118
--------
--------