Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-3121832true2022-11-01falseNo description of principal activity3640trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07416778 2022-11-01 2023-10-31 07416778 2021-11-01 2022-10-31 07416778 2023-10-31 07416778 2022-10-31 07416778 c:Director1 2022-11-01 2023-10-31 07416778 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 07416778 d:Buildings d:LongLeaseholdAssets 2023-10-31 07416778 d:Buildings d:LongLeaseholdAssets 2022-10-31 07416778 d:PlantMachinery 2022-11-01 2023-10-31 07416778 d:PlantMachinery 2023-10-31 07416778 d:PlantMachinery 2022-10-31 07416778 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07416778 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 07416778 d:MotorVehicles 2022-11-01 2023-10-31 07416778 d:MotorVehicles 2023-10-31 07416778 d:MotorVehicles 2022-10-31 07416778 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07416778 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 07416778 d:FurnitureFittings 2022-11-01 2023-10-31 07416778 d:FurnitureFittings 2023-10-31 07416778 d:FurnitureFittings 2022-10-31 07416778 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07416778 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 07416778 d:ComputerEquipment 2022-11-01 2023-10-31 07416778 d:ComputerEquipment 2023-10-31 07416778 d:ComputerEquipment 2022-10-31 07416778 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07416778 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 07416778 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07416778 d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 07416778 d:CurrentFinancialInstruments 2023-10-31 07416778 d:CurrentFinancialInstruments 2022-10-31 07416778 d:Non-currentFinancialInstruments 2023-10-31 07416778 d:Non-currentFinancialInstruments 2022-10-31 07416778 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 07416778 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 07416778 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 07416778 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 07416778 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 07416778 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 07416778 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 07416778 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 07416778 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 07416778 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 07416778 d:ShareCapital 2023-10-31 07416778 d:ShareCapital 2022-10-31 07416778 d:RetainedEarningsAccumulatedLosses 2023-10-31 07416778 d:RetainedEarningsAccumulatedLosses 2022-10-31 07416778 c:FRS102 2022-11-01 2023-10-31 07416778 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07416778 c:FullAccounts 2022-11-01 2023-10-31 07416778 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07416778 d:WithinOneYear 2023-10-31 07416778 d:WithinOneYear 2022-10-31 07416778 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 07416778 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 07416778 2 2022-11-01 2023-10-31 07416778 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

07416778







FAIRDENE LODGE CARE HOME LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2023

































FAIRDENE LODGE CARE HOME LIMITED
REGISTERED NUMBER:07416778

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
428,744
474,685

Current assets
  

Debtors: amounts falling due within one year
 5 
777,381
471,730

Bank and cash balances
  
293,976
109,965

  
1,071,357
581,695

Creditors: amounts falling due within one year
 6 
(415,571)
(283,579)

Net current assets
  
 
 
655,786
 
 
298,116

Total assets less current liabilities
  
1,084,530
772,801

Creditors: amounts falling due after more than one year
 7 
(444,162)
(301,136)

Provisions for liabilities
  

Deferred tax
 9 
(9,984)
(14,746)

  
 
 
(9,984)
 
 
(14,746)

Net assets
  
630,384
456,919


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
630,284
456,819

  
630,384
456,919


Page 1

FAIRDENE LODGE CARE HOME LIMITED
REGISTERED NUMBER:07416778
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M. A. Holliday-Welch
Director

Date: 19 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Fairdene Lodge Care Home Limited ("the company") is a limited company domiciled and incorporated in England and Wales.
The address of its principal place of business is 14-16 Walsingham Road, Hove, BN3 4FF.
The address of its registered office is Level 1, Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

Monetary amounts in these financial statements are stated in pounds sterling, and are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

Having taken into account all available information about the company’s trading prospects and cash flow requirements for 12 months from the date of approval of the financial statements, the directors are committed to providing financial support to the company if necessary. Accordingly, the financial statements have been prepared on a going concern basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised on an accruals basis, with accrued and deferred income being recognised
appropriately on fee income from residents and local authorities.

 
2.4

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Leasing and hire purchase

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

 Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.


Long-term leasehold property
-
10 years straight line
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Computer equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

 Creditors

Short term creditors are measured at the transaction price.

 
2.13

 Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

 
2.14

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2022 - 40).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 November 2022
249,377
85,595
167,723
117,034
21,131
640,860


Additions
10,199
10,617
-
1,983
1,529
24,328



At 31 October 2023

259,576
96,212
167,723
119,017
22,660
665,188



Depreciation


At 1 November 2022
8,142
42,944
54,345
49,746
10,998
166,175


Charge for the year on owned assets
21,832
-
2,355
13,699
2,296
40,182


Charge for the year on financed assets
-
9,767
20,320
-
-
30,087



At 31 October 2023

29,974
52,711
77,020
63,445
13,294
236,444



Net book value



At 31 October 2023
229,602
43,501
90,703
55,572
9,366
428,744



At 31 October 2022
241,235
42,651
113,378
67,288
10,133
474,685

Page 6

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
65,809
28,042

Other debtors
701,494
443,688

Prepayments and accrued income
10,078
-

777,381
471,730



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
44,058
9,514

Trade creditors
2,580
8,662

Corporation tax
119,002
45,724

Other taxation and social security
26,534
23,582

Obligations under finance lease and hire purchase contracts
16,802
16,802

Other creditors
169,060
144,335

Accruals and deferred income
37,535
34,960

415,571
283,579





7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
370,569
210,741

Net obligations under finance leases and hire purchase contracts
73,593
90,395

444,162
301,136


The hire purchase contract is secured over the asset concerned.

Page 7

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
44,058
9,514

Amounts falling due 1-2 years

Bank loans
16,706
10,908

Amounts falling due 2-5 years

Bank loans
37,230
36,335

Amounts falling due after more than 5 years

Bank loans
316,633
163,499

414,627
220,256


The bank loan is secured by way of a fixed and floating charge over the company's assets. In addition, the directors have provided a personal guarantee. 


9.


Deferred taxation




2023


£






At beginning of year
(14,746)


Utilised in year
4,762



At end of year
(9,984)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,984)
(14,746)

(9,984)
(14,746)


10.


Contingent liabilities

The Company is guarantor on a loan taken out by the directors of the company, for an amount of £920,000. No liability is expected to arise in connection with this arrangement.

Page 8

FAIRDENE LODGE CARE HOME LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Commitments under operating leases

At 31 October 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Within 1 year
-
144,000

-
144,000


12.


Transactions with directors

Included within other debtors are loans to the directors of the Company. The loans are repayable on demand and interest is charged at 2.5%.  The movements during the year were as follows:


2023
2022
£
£

Balance brought forward at 1 November
205,808
50,780
Amounts advanced
152,404
199,369
Amounts repaid
(25,707)
(47,459)
Interest charged
7,565
3,118
340,070
205,808

 
Page 9