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REGISTERED NUMBER: 05074011 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2023

for

Amos Nursing Homes Limited

Amos Nursing Homes Limited (Registered number: 05074011)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 10

Balance Sheet 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Amos Nursing Homes Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Cornford
V Keenan


REGISTERED OFFICE: Willowbrook House
St Arvans Crescent
St Mellons
Cardiff
CF3 0FD


REGISTERED NUMBER: 05074011 (England and Wales)


SENIOR STATUTORY AUDITOR: Stephen Horrigan FCA


AUDITORS: DHB Accountants Limited
Chartered Accountants
Statutory Auditors
110 Whitchurch Road
Cardiff
CF14 3LY


BANKERS: HSBC UK Bank Plc
Wales Corporate Banking Centre
1st Floor, 1 Callaghan Square,
Cardiff
CF10 5BT

Amos Nursing Homes Limited (Registered number: 05074011)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The results for the financial year are set out in the attached profit & loss account and the balance sheet sets out the financial position of the company as at 31 December 2023.

On 6 January 2023 Mrs A F Kelly passed away after a long illness. She had acquired the business in 2008 and had overseen its commencement of trading, registration and ongoing trading including steering the company through the difficult COVID years. She had been assisted by her fellow directors, her daughters, who are very experienced in the business and who will continue to manage and develop the business. The period of illness, death and period of mourning had an impact upon operations whilst the directors and staff adjusted to the loss of a formidable influence.

During the year ended 31 December 2023 interest rates continued to rise which has had a significant effect upon the profitability of the company as a result of the increase in borrowing costs.This presented some challenges to cash flow.

Having regard to the comments made above the directors consider the results for the year to be satisfactory and they are confident that underlying profitability will improve in the forthcoming financial year as the company continues to maintain and consolidate it's position in a competitive market.

Turnover increased during the year and gross margin achieved remained consistent. One of the key indicators used by the company is wage costs relative to turnover. This information is confidential as it is commercially sensitive but the percentage of wages excluding directors salaries to turnover has increased as compared to previous years as a result in increases in minimum wage and associated costs.

As disclosed elsewhere in the accounts fixed assets are stated at cost. In May 2015 a valuation was carried out which confirmed that the open market value of the business is significantly in excess of the amount at which the assets are stated in the accounts.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors undertake periodic reviews of the operating risks facing the company.

The company is exposed to certain financial risks and the directors have developed and evaluated strategies and programmes on internal controls to address the principal risks identified. Those identified are controlled as follows :

Credit Risk : The company's principal assets comprise it's tangible and intangible fixed assets, bank balances and receivables. Provisions are made if required for any irrecoverable amounts and impairment provision made where there is an identifiable loss event which could give rise to a reduction in the recoverability of cash flows.

Liquidity Risk : In order to maintain liquidity to ensure that there are sufficient funds available for ongoing operations and future developments the company uses a mixture of long and short term debt finance.

Cash Flow Risk : The trading activities of the company are all within the United Kingdom and therefore it is not expected to be exposed to exchange rate fluctuations during the financial year, the directors are not concerned as to any impact that the failure to conclude a trade deal under what is commonly termed Brexit might have.

Regular management accounts are prepared and reviewed by the directors and trends and variances are considered and investigated as to any impact upon the business and it's cash flow.

Exposure to adverse movements in interest rates is considered by the directors a risk but they monitor results closely and assess options regularly such that they consider the risks, which also affect many small to medium size businesses, are manageable.


Amos Nursing Homes Limited (Registered number: 05074011)

Strategic Report
for the Year Ended 31 December 2023

FINANCIAL KEY PERFORMANCE INDICATORS
Given the straightforward nature of the business the directors are of the opinion that analysis using Key Performance Indicator's is not necessary for an understanding of the development, performance or position of the business.

ON BEHALF OF THE BOARD:





A Cornford - Director


24 September 2024

Amos Nursing Homes Limited (Registered number: 05074011)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the operation of a high quality Nursing and Care Home, providing general nursing care but specialising particularly in the care of the elderly, mentally infirmed care users ( EMI ).

DIVIDENDS

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

A Cornford
V Keenan

Other changes in directors holding office are as follows:

A F Kelly - deceased 6 January 2023

FIXED ASSETS
Tangible fixed assets included within the accounts were revalued in May 2015 at an amount substantially more than the cost stated in the accounts. No policy of revaluation has been adopted and more information is available in the notes to the accounts.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Amos Nursing Homes Limited (Registered number: 05074011)

Report of the Directors
for the Year Ended 31 December 2023


AUDITORS
Under section 487(2) of the Companies Act 2006, DHB Accountants Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the financial statements with the registrar, whichever is earlier.

ON BEHALF OF THE BOARD:





A Cornford - Director


24 September 2024

Report of the Independent Auditors to the Members of
Amos Nursing Homes Limited

Opinion
We have audited the financial statements of Amos Nursing Homes Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Amos Nursing Homes Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Amos Nursing Homes Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of planning our audit, we determined materiality and assessed the risks of material misstatement in the financial statement's, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures , opportunity and motivations for fraud. As part of this discussion we identified the internal controls to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.

We gained an understanding of the legal and regulatory frameworks that are applicable to the company and the industry in which it operates, drawing on our wide experience, and considered whether there had been any acts by the company that may have been contrary to these laws and regulations, including fraud. We focused on laws and regulations that could give rise to material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, UK tax legislation and relevant local laws and regulations. We made enquiries of management with regards to compliance with the above laws and regulations and corroborated where necessary to other necessary evidence.

Our audit tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management.

We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override on internal controls including testing journals and evaluation of whether there was any evidence of bias by management that represented a risk of material misstatement due to fraud.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognizing that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, for example, forgery, misrepresentation or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statement's, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Amos Nursing Homes Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Horrigan FCA (Senior Statutory Auditor)
for and on behalf of DHB Accountants Limited
Chartered Accountants
Statutory Auditors
110 Whitchurch Road
Cardiff
CF14 3LY

24 September 2024

Amos Nursing Homes Limited (Registered number: 05074011)

Statement of Income and
Retained Earnings
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 5,970,525 5,462,012

Cost of sales 559,611 578,163
GROSS PROFIT 5,410,914 4,883,849

Administrative expenses 4,849,595 4,411,735
561,319 472,114

Other operating income - 5,631
OPERATING PROFIT 4 561,319 477,745


Interest payable and similar expenses 5 343,781 171,686
PROFIT BEFORE TAXATION 217,538 306,059

Tax on profit 6 138,590 117,289
PROFIT FOR THE FINANCIAL YEAR 78,948 188,770

Retained earnings at beginning of year 1,556,006 1,367,236

RETAINED EARNINGS AT END OF
YEAR

1,634,954

1,556,006

Amos Nursing Homes Limited (Registered number: 05074011)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - 33,000
Tangible assets 8 5,261,031 5,346,511
5,261,031 5,379,511

CURRENT ASSETS
Stocks 9 35,000 35,000
Debtors 10 2,457,262 2,436,519
Cash at bank 20,985 2,000
2,513,247 2,473,519
CREDITORS
Amounts falling due within one year 11 1,173,817 1,277,714
NET CURRENT ASSETS 1,339,430 1,195,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,600,461

6,575,316

CREDITORS
Amounts falling due after more than one
year

12

(4,536,847

)

(4,647,169

)

PROVISIONS FOR LIABILITIES 16 (403,657 ) (347,138 )
NET ASSETS 1,659,957 1,581,009

CAPITAL AND RESERVES
Called up share capital 17 3 3
Share premium 25,000 25,000
Retained earnings 1,634,954 1,556,006
SHAREHOLDERS' FUNDS 21 1,659,957 1,581,009

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:




A Cornford - Director



V Keenan - Director


Amos Nursing Homes Limited (Registered number: 05074011)

Cash Flow Statement
for the Year Ended 31 December 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 647,806 (238,166 )
Interest paid (343,781 ) (169,018 )
Interest element of hire purchase or
finance lease rental payments paid

-

(2,668

)
Tax paid (99,884 ) (13,824 )
Net cash from operating activities 204,141 (423,676 )

Cash flows from investing activities
Purchase of tangible fixed assets (11,000 ) (116,172 )
Sale of intangible fixed assets - 5,631
Net cash from investing activities (11,000 ) (110,541 )

Cash flows from financing activities
New loan in year 250,000 -
Loan repayments in year (360,322 ) (403,265 )
HP Capital repayments in year - (21,380 )
Net cash from financing activities (110,322 ) (424,645 )

Increase/(decrease) in cash and cash equivalents 82,819 (958,862 )
Cash and cash equivalents at
beginning of year

2

(129,414

)

829,448

Cash and cash equivalents at end of
year

2

(46,595

)

(129,414

)

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 217,538 306,059
Depreciation charges 129,480 150,199
Profit on disposal of fixed assets - (5,631 )
Finance costs 343,781 171,686
690,799 622,313
Increase in stocks - (7,500 )
Increase in trade and other debtors (20,743 ) (452,275 )
Decrease in trade and other creditors (22,250 ) (400,704 )
Cash generated from operations 647,806 (238,166 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 20,985 2,000
Bank overdrafts (67,580 ) (131,414 )
(46,595 ) (129,414 )
Year ended 31 December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 2,000 829,448
Bank overdrafts (131,414 ) -
(129,414 ) 829,448


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank 2,000 18,985 20,985
Bank overdrafts (131,414 ) 63,834 (67,580 )
(129,414 ) 82,819 (46,595 )
Debt
Debts falling due within 1 year (429,996 ) - (429,996 )
Debts falling due after 1 year (4,647,169 ) 110,322 (4,536,847 )
(5,077,165 ) 110,322 (4,966,843 )
Total (5,206,579 ) 193,141 (5,013,438 )

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Amos Nursing Homes 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 the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements are presented in Pounds Sterling which is the functional operating currency of the company.

The financial statements have been prepared on a going concern basis and make no allowance for costs or additional liabilities that might fall due if this were found to be inappropriate. Having regard to available resources and expected trading results and with the continued support of the company bankers the directors are of the view that the going concern concept is entirely appropriate.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions in accounting estimates are recognised in the period in which the estimate is revised.

The following judgements and estimates have had the most significant effect upon amounts recognised in the financial statements:

Useful Economic lives of tangible assets

The actual useful lives of tangible fixed assets assessed regularly and may vary depending upon a number of factors such as technical innovation and maintenance programmes.

Turnover
Turnover represents the invoiced value of services provided to care users. The activities of the company are exempt from value added tax. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

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.

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision, if required, for impairment. Where depreciation charges increase as a result of revaluation an amount equal to the increase is transferred from the revaluation reserve to the profit and loss reserve as a movement on reserves.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of each asset over it's expected useful life, as follows :

Long Leasehold property Straight Line - 100 years

Plant & Machinery Straight Line - 50 years

Fixtures & Fittings Straight Line - 25 Years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Operating leases
Rentals under operating leases are charged to the profit & loss account on a straight line basis over the terms of the leases.

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,008,229 3,331,877
Other pension costs 142,345 157,098
4,150,574 3,488,975

The average number of employees during the year was as follows:
2023 2022

Directors 2 3
Management, Financial & Administration 6 6
Nursing & Carers 118 129
Kitchen & Domestics 19 19
Maintenance & Activities 6 7
151 164

Wage and salary costs for the year ended 31 December 2023 includes £272,794 in respect of Employers NIC ( 2022 : £294,930).

During the year £120,345 has been charged to the income statement in respect of contributions made by the company to employee pensions. Also included in the income statement is £22,000 of contributions to pensions in respect of the two directors split equally between them.

2023 2022
£    £   
Directors' remuneration 383,291 442,234

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 194,985 164,430

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 35,542 59,038
Depreciation - owned assets 96,480 117,199
Profit on disposal of fixed assets - (5,631 )
Goodwill amortisation 33,000 33,000
Auditors' remuneration 5,000 5,000

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 15,846 -
Loan Interest 327,935 169,018
Hire purchase - 2,668
343,781 171,686

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 82,071 62,045

Deferred tax 56,519 55,244
Tax on profit 138,590 117,289

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 217,538 306,059
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

54,385

58,151

Effects of:
Expenses not deductible for tax purposes 32,385 28,310
Depreciation in excess of capital allowances 51,820 30,828
Total tax charge 138,590 117,289

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 330,000
AMORTISATION
At 1 January 2023 297,000
Amortisation for year 33,000
At 31 December 2023 330,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 33,000

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. INTANGIBLE FIXED ASSETS - continued

Goodwill acquired as at 31 December 2013 will be amortised over ten years which is the director's estimate of it's useful life.

8. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 4,189,018 947,489 1,564,063 6,700,570
Additions - - 11,000 11,000
At 31 December 2023 4,189,018 947,489 1,575,063 6,711,570
DEPRECIATION
At 1 January 2023 555,100 246,330 552,629 1,354,059
Charge for year 38,448 16,872 41,160 96,480
At 31 December 2023 593,548 263,202 593,789 1,450,539
NET BOOK VALUE
At 31 December 2023 3,595,470 684,287 981,274 5,261,031
At 31 December 2022 3,633,918 701,159 1,011,434 5,346,511

Long Leasehold property includes an interest in the land based upon a lease of 125 years at a peppercorn rent from January 2007.

The business was revalued for loan security purposes in May 2015 by Andrew Forbes, Chartered Valuation Surveyors, in accordance with the RICS Valuation - Professional Standards January 2014 (Red Book) guidelines. They were of the opinion that the market value of the long leasehold interest in the care home on the assumption it is a fully operational and equipped entity and having regard to trading potential, free from encumbrance and as described in their report can be fairly stated at £11,150,000. The surplus arising on revaluation is not reflected in the accounts nor is any associated tax liability which would arise on the surplus over and above the amount at which fixed assets are stated in the accounts.

9. STOCKS
2023 2022
£    £   
Stocks 35,000 35,000

10. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 365,518 194,191
Other debtors 1,198,428 1,267,916
Due from associated company 418,687 504,325
Advance Corporation tax 296,258 296,258
Prepayments and accrued income 28,371 23,829
2,307,262 2,286,519

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 150,000 150,000

Aggregate amounts 2,457,262 2,436,519

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 497,576 561,410
Trade creditors 89,956 140,522
Tax 175,138 192,951
Social security and other taxes 293,713 214,994
Accruals and deferred income 117,434 167,837
1,173,817 1,277,714

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 13) 4,536,847 4,647,169

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 67,580 131,414
Bank loans 429,996 429,996
497,576 561,410

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,574,010 1,629,171

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,962,837 3,017,998

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 35,542 -
Between one and five years 35,542 -
71,084 -

15. SECURED DEBTS

Bank loans which carry interest at commercial rates are secured by a formal debenture and first legal charge over the long leasehold property of the company and a floating charge over all other assets.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 403,657 347,138

Deferred
tax
£   
Balance at 1 January 2023 347,138
Provided during year 56,519
Balance at 31 December 2023 403,657

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3 Ordinary £1 shares 1 3 3

18. ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Lindisfarne Healthcare Limited a company incorporated in England & Wales whose accounts are available for public inspection at Companies House. That company is a wholly owned subsidiary of Lindisfarne Healthcare Holdings LImited which is considered to be the ultimate holding company.

19. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £1,128,648 (31 December 2022: £1,212,375) due from current and former directors. Other debtors also includes £504,325 (2022: £504,325) due from a company under common control.

These loans are unsecured, repayable on demand and have no fixed interest terms.

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are the directors acting jointly in their capacity of executors of the estate of the late Mrs A F Kelly.

Amos Nursing Homes Limited (Registered number: 05074011)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

21. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2023 2022
£    £   
Profit for the financial year 78,948 188,770
Net addition to shareholders' funds 78,948 188,770
Opening shareholders' funds 1,581,009 1,392,239
Closing shareholders' funds 1,659,957 1,581,009