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REGISTERED NUMBER: 03359871 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Molescroft Nursing Home (Holdings)
Limited

Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Molescroft Nursing Home (Holdings)
Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mrs B Marwah





SECRETARY: Mrs B Marwah





REGISTERED OFFICE: Suite 1
The Riverside Building
Livingstone Road
Hessle
East Yorkshire
HU13 0DZ





REGISTERED NUMBER: 03359871 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,560 -
Tangible assets 5 3,898,327 4,007,281
3,902,887 4,007,281

CURRENT ASSETS
Debtors 6 1,019,683 702,947
Cash at bank and in hand 455,314 216,392
1,474,997 919,339
CREDITORS
Amounts falling due within one year 7 557,223 472,504
NET CURRENT ASSETS 917,774 446,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,820,661

4,454,116

PROVISIONS FOR LIABILITIES 350,188 352,927
NET ASSETS 4,470,473 4,101,189

CAPITAL AND RESERVES
Called up share capital 50,004 50,004
Revaluation reserve 9 64,205 64,205
Retained earnings 4,356,264 3,986,980
SHAREHOLDERS' FUNDS 4,470,473 4,101,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





Mrs B Marwah - Director


Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Molescroft Nursing Home (Holdings) 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Estimation uncertainty on useful lives of depreciable assets
The carrying value of depreciable assets requires the directors to make an estimate of the assets' useful economic lives and undertake an annual review for impairment. The estimated lives applied are detailed in the accounting policy note.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is derived from providing nursing and residential care services and represents net invoiced fees, excluding value added tax, discounts and rebates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 or revaluation excluding land
Fixtures and Fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial Instruments which meet the criteria of a basic financial instrument as defined in Section 11 of FRS102 are accounted for under the amortised historic cost model.

Non-basic financial instruments are recognised at fair value using a valuation technique with any gains or losses reported in surplus or deficit. At each year end, the instruments are revalued to fair value, with the movements posted to the income and expenditure account.


Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 82 (2023 - 75 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 4,560
At 31 January 2024 4,560
NET BOOK VALUE
At 31 January 2024 4,560

Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 5,292,605 323,696 5,616,301
DEPRECIATION
At 1 February 2023 1,347,500 261,520 1,609,020
Charge for year 98,000 10,954 108,954
At 31 January 2024 1,445,500 272,474 1,717,974
NET BOOK VALUE
At 31 January 2024 3,847,105 51,222 3,898,327
At 31 January 2023 3,945,105 62,176 4,007,281

Freehold property was valued by the directors on an open market basis as part of a corporate reorganisation in August 2015.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,006 173,116
Other debtors 938,677 529,831
1,019,683 702,947

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 25,396
Trade creditors 18,429 20,166
Taxation and social security 206,803 218,123
Other creditors 331,991 208,819
557,223 472,504

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 25,396

The bank overdraft and loans are secured by a legal charge and debenture over the assets of Molescroft Nursing Home (Holdings) Limited in favour of Barclays Bank PLC.

Molescroft Nursing Home (Holdings)
Limited (Registered number: 03359871)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


9. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 64,205

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Molescroft Holdings Limited.