Company Registration No. 9247254 (England and Wales)
Cherry Tree Care Home Limited
Unaudited filleted accounts
for the year ended 31 March 2024
Cherry Tree Care Home Limited
Unaudited filleted accounts
Contents
Cherry Tree Care Home Limited
Company Information
for the year ended 31 March 2024
Directors
David Atkins
Gemma Atkins
Company Number
9247254 (England and Wales)
Registered Office
99 Norman Road
Wrexham
LL13 7BG
Accountants
J M Price & Co, Chartered Certified Accountants
Dalton House
35 Chester Street
Wrexham
Wrexham
LL13 8AH
Cherry Tree Care Home Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,406,389
1,409,761
Cash at bank and in hand
280,389
252,939
Creditors: amounts falling due within one year
(225,987)
(194,633)
Net current assets
802,971
755,674
Total assets less current liabilities
2,209,360
2,165,435
Creditors: amounts falling due after more than one year
(1,188,061)
(1,262,029)
Provisions for liabilities
Deferred tax
(8,739)
(7,086)
Net assets
1,012,560
896,320
Called up share capital
190
200
Profit and loss account
1,012,370
896,120
Shareholders' funds
1,012,560
896,320
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by
David Atkins
Director
Company Registration No. 9247254
Cherry Tree Care Home Limited
Notes to the Accounts
for the year ended 31 March 2024
Cherry Tree Care Home Limited is a private company, limited by shares, registered in England and Wales, registration number 9247254. The registered office is 99 Norman Road, Wrexham, LL13 7BG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company uses a defined contribution scheme with under auto enrolment requirements for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Cherry Tree Care Home Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
1,370,000
114,117
1,484,117
At 31 March 2024
1,370,000
119,045
1,489,045
At 1 April 2023
-
74,356
74,356
Charge for the year
-
8,300
8,300
At 31 March 2024
-
82,656
82,656
At 31 March 2024
1,370,000
36,389
1,406,389
At 31 March 2023
1,370,000
39,761
1,409,761
Amounts falling due within one year
Trade debtors
21,803
48,031
Accrued income and prepayments
3,427
2,897
Amounts falling due after more than one year
Amounts due from group undertakings etc.
721,439
642,340
Cherry Tree Care Home Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
74,043
70,312
Trade creditors
7,584
3,598
Taxes and social security
90,531
47,610
Other creditors
45,149
55,854
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,188,061
1,262,029
Aggregate of amounts that fall due for payment after five years
766,171
937,997
The mortgage with Barclays plc (balance at the year end £1,262,104) is secured on the building and a fixed and floating charge over the assets of the company.
Allotted, called up and fully paid:
190 Ordinary shares of £1 each
190
200
The company operates an auto enrolment scheme with NEST in accordance with The Pensions Regulator.
11
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,406
4,406
Later than one year and not later than five years
3,304
5,984
12
Transactions with related parties
Management fees were paid to parent company Orchard Care Group Limited (Reg No 10433921) of £216, 000. (2023: £213,00).
Amounts due from group companies:
Due from parent company Orchard Care Group Limited (Reg No 10433921) at the year end was £383,361). (2023 :£304,263)
Due from Bay Tree House (Wxm) Limited (Reg No 1045086) at the year end was £338,077 (2023: £338,077)
Cherry Tree Care Home Limited
Notes to the Accounts
for the year ended 31 March 2024
At the balance sheet date, the voting shares are owned by Orchard Care Group Limited. The two directors, Mr David Atkins and Mrs Gemma Atkins are the joint shareholders of Orchard Care Group Limited and therefore control the company
14
Average number of employees
During the year the average number of employees was 33 (2023: 33).