REGISTERED NUMBER: |
COUNTY CARE HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2024 |
REGISTERED NUMBER: |
COUNTY CARE HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2024 |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 8 |
COUNTY CARE HOMES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
County Care Homes Limited is a |
For the purposes of presentation the financial statements have been rounded to the nearest Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised at the value of the monies received or receivable, excluding discounts, rebates and value added tax for services provided. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business, has been amortised evenly over its estimated useful economic life of ten years from 1 April 2014. |
Tangible fixed assets |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Computer equipment - 33% straight line |
Plant & machinery - 25% reducing balance |
Office equipment - 20% reducing balance |
Assets under construction are included at cost |
Revaluation of freehold property |
The company took advantage of paragraph 35.10(c) of Chapter 35 of FRS 102 to restate its freehold property to fair value as deemed cost upon transition to FRS 102 on 1 January 2014. The property is held at deemed cost, being the fair value at the date of transition, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
The care home is not depreciated because any charge would be immaterial based upon the high residual value of the buildings. |
Repairs and maintenance of the core buildings and the replacement and renewals of the trade fixtures and fittings are charged to income statement during the period in which they are incurred. |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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 the income statement in the period to which they relate. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Freehold property was valued on a market value basis on 6 August 2013 by Colliers International and this valuation was previously adopted in these accounts. The Directors as at 31 March 2023 considered the value of the property to be £4,500,000, additions of £89,517 have been added at cost. If freehold property had not been revalued it would have been included at its historical cost of £3,678,874 (2023: £3,678,874). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Directors' current accounts | - | 70,056 |
Deferred tax asset |
Prepayments and accrued income |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other loans |
Payments on account |
Trade creditors |
Other taxes and social security costs |
Other creditors |
Directors' current accounts | 206 | - |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Bank loans |
Other loans - 1-2 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The company's bank borrowings are secured by a legal charge dated 27 November 2013 over its freehold property and an unlimited debenture incorporating a fixed and floating charge over the other assets. |
10. | TRANSACTIONS WITH THE DIRECTORS |
During the year the directors introduced funds to the company of £71,885 and were awarded dividends of £288,000, they withdrew amounts of £285,831. At the year end a balance of £206 was due to the directors (2023: £70,057 was due from the directors). |
Interest of £3,791 was charged during the year. |
COUNTY CARE HOMES LIMITED (REGISTERED NUMBER: 04683188) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | RELATED PARTY DISCLOSURES |
The company does not have a parent undertaking. During the year the company was jointly controlled by Mr G J Nixon-Moss and Mrs E M Nixon-Moss who are both directors and shareholders. |
During the year remuneration of £55,786 (2023: £29,531) was paid to family members of Mr G J Nixon-Moss and Mrs E M Nixon-Moss. |