IRIS Accounts Production v24.3.0.553 06243029 Board of Directors 31.1.24 1.2.23 31.1.24 31.1.24 true true true false true true false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062430292023-01-31062430292024-01-31062430292023-02-012024-01-31062430292022-01-31062430292022-02-012023-01-31062430292023-01-3106243029ns15:EnglandWales2023-02-012024-01-3106243029ns14:PoundSterling2023-02-012024-01-3106243029ns10:Director12023-02-012024-01-3106243029ns10:Consolidated2024-01-3106243029ns10:ConsolidatedGroupCompanyAccounts2023-02-012024-01-3106243029ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3106243029ns10:Consolidatedns10:FRS1022023-02-012024-01-3106243029ns10:Consolidatedns10:Audited2023-02-012024-01-3106243029ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-02-012024-01-3106243029ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-02-012024-01-3106243029ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-02-012024-01-3106243029ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-02-012024-01-3106243029ns10:FullAccounts2023-02-012024-01-3106243029ns5:Subsidiary12023-02-012024-01-310624302912023-02-012024-01-3106243029ns10:OrdinaryShareClass12023-02-012024-01-3106243029ns10:Consolidated2023-02-012024-01-3106243029ns10:Director22023-02-012024-01-3106243029ns10:Director32023-02-012024-01-3106243029ns10:Director42023-02-012024-01-3106243029ns10:CompanySecretary12023-02-012024-01-3106243029ns10:RegisteredOffice2023-02-012024-01-3106243029ns10:Consolidated2022-02-012023-01-3106243029ns5:CurrentFinancialInstruments2024-01-3106243029ns5:CurrentFinancialInstruments2023-01-3106243029ns5:ShareCapital2024-01-3106243029ns5:ShareCapital2023-01-3106243029ns5:RetainedEarningsAccumulatedLosses2024-01-3106243029ns5:RetainedEarningsAccumulatedLosses2023-01-3106243029ns5:ShareCapital2022-01-3106243029ns5:RetainedEarningsAccumulatedLosses2022-01-3106243029ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-3106243029ns5:NetGoodwill2023-02-012024-01-3106243029ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-02-012024-01-3106243029ns5:PlantMachinery2023-02-012024-01-3106243029ns5:FurnitureFittings2023-02-012024-01-3106243029ns5:MotorVehicles2023-02-012024-01-3106243029ns5:ComputerEquipment2023-02-012024-01-3106243029ns5:CostValuation2023-01-3106243029ns5:Subsidiary112023-02-012024-01-3106243029ns10:OrdinaryShareClass12024-01-3106243029ns5:RetainedEarningsAccumulatedLosses2023-01-31
REGISTERED NUMBER: 06243029 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 January 2024

for

Moor Park Home Holdings Limited

Moor Park Home Holdings Limited (Registered number: 06243029)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Moor Park Home Holdings Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C D Root
S Bonnard
V Curthan
Ms E P Follwell





SECRETARY: C D Root





REGISTERED OFFICE: Moor Park House
81-83 Garstang Road
Preston
Lancashire
PR1 1LD





REGISTERED NUMBER: 06243029 (England and Wales)

Moor Park Home Holdings Limited (Registered number: 06243029)

Group Strategic Report
for the Year Ended 31 January 2024

The directors present their strategic report of the company and the group for the year ended 31 January 2024.

REVIEW OF BUSINESS
The results for the year ended 31 January 2024 are set out on page 9 . These results show a total fee income of £6,517,463 compared to £5,349,090 for 2023, resulting in an operating profit of £1,218,968 compared to £959,692 for 2023 and a net profit after taxation of £699,849 compared to £693,896 for 2023. Turnover has increased as the Home's service mix has continued to become more nursing orientated [during the year], occupancy has improved and fee rates have also benefitted from higher than normal inflationary increases.

These results represent encouraging progress and provide further validation of the strategy to offer an increased mix of higher complexity services, reflecting the strong market demand for these services. Nationwide pressures on staffing continue but the successful recruitment of non-European staff has helped to make up for the loss of European nationals. However, as a result of increased competition for staff and continued inflationary pressures, the Group has been subject to significant increases in wage rates. The measures that the Group has put in place over the past few years have continued to be applied and these have ensured that the business is as resilient as possible to such continuing challenges.

PRINCIPAL RISKS AND UNCERTAINTIES
As last year it remains the case that staffing will continue to pose a challenge, but Moor Park Home Holdings Limited strives to ensure that it is the employer of choice by providing the best training and the best opportunities for career development. Whilst the UK base rate has recently been cut by 0.25%, UK government finances will continue to be adversely affected by high interest rates placing pressure on public spending. It is not yet known what the recent change of Government will mean for the funding of health and social care.

Post balance sheet, the Home has coped well with significant external factors such as rising inflation and high interest rates, through its continued strong occupancy and high fees. The business is confident of its viability with continued strong cash reserves and liquidity.

The care provider market is largely sheltered from much of this disruption, as demographic pressures continue to lead to increasing demand for care home places. The management continue to develop business with specialist referrers. Funding for the Group is not considered to be a risk, as the Moor Park Home Holdings Limited Group has a strong balance sheet with secure long term funding agreements and excellent relationships with its bankers.

ON BEHALF OF THE BOARD:





S Bonnard - Director


21 October 2024

Moor Park Home Holdings Limited (Registered number: 06243029)

Report of the Directors
for the Year Ended 31 January 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of operating a specialised nursing home.

DIVIDENDS
A dividend of £1,700 per share was paid on 14 March 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2024 will be £170,000.

FUTURE DEVELOPMENTS
Subject to the external risks placed on the group, demand for care placements is expected to remain constant and the group anticipates capitalising on this as a result of the quality of service being provided to the residents and the group's rapport with local authorities and NHS contracting teams.

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

C D Root
S Bonnard
V Curthan
Ms E P Follwell

FINANCIAL INSTRUMENTS
Treasury operations and financial instruments
The group neither has nor needs to use an overdraft facility, relying instead on effective management of financial resources. In addition to cash, the group's working capital comprises trade debtors and trade creditors that arise solely from its care home operations.

Liquidity risk
The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk
The group is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on variable rate borrowings and finance loans. The group had no fixed rate borrowings for the year ended 31 January 2024.

Credit risk
Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.


Moor Park Home Holdings Limited (Registered number: 06243029)

Report of the Directors
for the Year Ended 31 January 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
During the year, Rushtons have expressed their willingness to continue as the auditor of the group.

ON BEHALF OF THE BOARD:





S Bonnard - Director


21 October 2024

Report of the Independent Auditors to the Members of
Moor Park Home Holdings Limited

Opinion
We have audited the financial statements of Moor Park Home Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 January 2024 and of the group's 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 group 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 group's and the parent 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 Group 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.

The prior year figures for Moor Park Home Holdings Limited and the consolidated figures were unaudited.

Report of the Independent Auditors to the Members of
Moor Park Home Holdings Limited


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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Moor Park Home Holdings 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:

Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- The nature of the industry and sector, control environment and business performance.
- Enquiring of management, including obtaining and reviewing supporting documentation, concerning
the group's policies and procedures relating to:
- Identifying, evaluating and complying with laws and regulations and whether they were aware of
any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;
- The internal controls established to mitigate risks related to fraud or non-compliance with laws and
regulations.
- Discussing among the engagement team regarding how and where fraud might occur in the financial
statements and any potential indicators of fraud, and;
- Obtaining an understanding of the legal and regulatory frameworks that the group operates in, focusing
on those laws and regulations that had a direct effect on the financial statements, such as provisions of
the UK Companies Act, pensions legislation and tax legislation or that had a fundamental effect on the
operations of the company, including the General Data Protection requirements, Anti-bribery and
corruption policies and Environmental laws and regulations pertaining to this industry.


In addition to the above, our procedures to respond to risks identified included the following:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the
financial statements;
- Enquiring of management concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate
risks of material misstatement due to fraud;
- Reading available minutes of meetings of those charged with governance; and
- Testing journal entries to identify unusual transactions.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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
Moor Park Home Holdings 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.




Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

22 October 2024

Moor Park Home Holdings Limited (Registered number: 06243029)

Consolidated
Income Statement
for the Year Ended 31 January 2024

2024 2023
Notes £    £   

TURNOVER 3 6,517,463 5,349,090

Cost of sales 4,415,333 3,749,940
GROSS PROFIT 2,102,130 1,599,150

Administrative expenses 884,494 695,646
1,217,636 903,504

Other operating income 1,332 56,188
OPERATING PROFIT 5 1,218,968 959,692

Interest receivable and similar income 523 52
1,219,491 959,744

Interest payable and similar expenses 6 217,564 126,172
PROFIT BEFORE TAXATION 1,001,927 833,572

Tax on profit 7 302,078 139,676
PROFIT FOR THE FINANCIAL YEAR 699,849 693,896
Profit attributable to:
Owners of the parent 699,849 693,896

Moor Park Home Holdings Limited (Registered number: 06243029)

Consolidated
Other Comprehensive Income
for the Year Ended 31 January 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 699,849 693,896


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

699,849

693,896

Total comprehensive income attributable to:
Owners of the parent 699,849 693,896

Moor Park Home Holdings Limited (Registered number: 06243029)

Consolidated Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 3,922,822 3,873,221
Investments 12 - -
3,922,822 3,873,221

CURRENT ASSETS
Stocks 13 5,000 5,000
Debtors 14 1,064,760 745,423
Cash at bank and in hand 1,322,287 956,136
2,392,047 1,706,559
CREDITORS
Amounts falling due within one year 15 1,368,402 1,016,683
NET CURRENT ASSETS 1,023,645 689,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,946,467

4,563,097

CREDITORS
Amounts falling due after more than one
year

16

(2,645,303

)

(2,858,967

)

PROVISIONS FOR LIABILITIES 19 (151,650 ) (84,465 )
NET ASSETS 2,149,514 1,619,665

CAPITAL AND RESERVES
Called up share capital 20 100 100
Retained earnings 21 2,149,414 1,619,565
SHAREHOLDERS' FUNDS 2,149,514 1,619,665

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





S Bonnard - Director


Moor Park Home Holdings Limited (Registered number: 06243029)

Company Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 1,592,273 1,592,273
1,592,273 1,592,273

CREDITORS
Amounts falling due within one year 15 1,591,995 1,591,995
NET CURRENT LIABILITIES (1,591,995 ) (1,591,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

278

278

CAPITAL AND RESERVES
Called up share capital 20 100 100
Retained earnings 21 178 178
SHAREHOLDERS' FUNDS 278 278

Company's profit for the financial year 170,000 -

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





S Bonnard - Director


Moor Park Home Holdings Limited (Registered number: 06243029)

Consolidated Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 100 925,669 925,769

Changes in equity
Total comprehensive income - 693,896 693,896
Balance at 31 January 2023 100 1,619,565 1,619,665

Changes in equity
Dividends - (170,000 ) (170,000 )
Total comprehensive income - 699,849 699,849
Balance at 31 January 2024 100 2,149,414 2,149,514

Moor Park Home Holdings Limited (Registered number: 06243029)

Company Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 100 178 278

Changes in equity
Balance at 31 January 2023 100 178 278

Changes in equity
Dividends - (170,000 ) (170,000 )
Total comprehensive income - 170,000 170,000
Balance at 31 January 2024 100 178 278

Moor Park Home Holdings Limited (Registered number: 06243029)

Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,208,302 884,203
Interest paid (217,564 ) (126,172 )
Tax paid (161,540 ) (80,527 )
Net cash from operating activities 829,198 677,504

Cash flows from investing activities
Purchase of tangible fixed assets (132,639 ) (131,177 )
Interest received 523 52
Net cash from investing activities (132,116 ) (131,125 )

Cash flows from financing activities
Loan repayments in year (160,931 ) (191,044 )
Equity dividends paid (170,000 ) -
Net cash from financing activities (330,931 ) (191,044 )

Increase in cash and cash equivalents 366,151 355,335
Cash and cash equivalents at
beginning of year

2

956,136

600,801

Cash and cash equivalents at end of
year

2

1,322,287

956,136

Moor Park Home Holdings Limited (Registered number: 06243029)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,001,927 833,572
Depreciation charges 83,039 82,192
Finance costs 217,564 126,172
Finance income (523 ) (52 )
1,302,007 1,041,884
Increase in trade and other debtors (319,337 ) (218,573 )
Increase in trade and other creditors 225,632 60,892
Cash generated from operations 1,208,302 884,203

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 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 1,322,287 956,136
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 956,136 600,801


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 956,136 366,151 1,322,287
956,136 366,151 1,322,287
Debt
Debts falling due within 1 year (318,494 ) (52,734 ) (371,228 )
Debts falling due after 1 year (2,858,967 ) 213,664 (2,645,303 )
(3,177,461 ) 160,930 (3,016,531 )
Total (2,221,325 ) 527,081 (1,694,244 )

Moor Park Home Holdings Limited (Registered number: 06243029)

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

1. STATUTORY INFORMATION

Moor Park Home Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office can be found on the General Information page,

The presentational currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £1.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company, Moor Park Home Holdings LImited, together with the entity controlled by the parent company (its subsidiary).

The financial statements for all members of the group have been made up to 31 January 2024.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

The subsidiary has been consolidated in the group's financial statements from the date that control commences until the date that control ceases.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the supply of care services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where payments are received from customers in advance of services provided the amounts are recorded as deferred income and included as part of payables due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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 - 5% on cost and 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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


Moor Park Home Holdings Limited (Registered number: 06243029)

Notes to the Consolidated 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 Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Rendering of services 6,517,463 5,349,090
6,517,463 5,349,090

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,885,074 2,531,239
Social security costs 221,925 185,695
Other pension costs 49,313 42,054
3,156,312 2,758,988

Moor Park Home Holdings Limited (Registered number: 06243029)

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

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Directors 4 4
Management 4 4
Staff 169 139
177 147

The average number of employees by undertakings that were proportionately consolidated during the year was 149 (2023 - 143 ) .

2024 2023
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Agency staff 1,095,686 873,994
Depreciation - owned assets 83,038 82,192
Auditors' remuneration 9,600 9,600

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 210,297 119,876
Other interest paid 7,267 6,296
217,564 126,172

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 234,893 161,540

Deferred tax 67,185 (21,864 )
Tax on profit 302,078 139,676

Moor Park Home Holdings Limited (Registered number: 06243029)

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

7. TAXATION - continued

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:

2024 2023
£    £   
Profit before tax 1,001,927 833,572
Profit multiplied by the standard rate of corporation tax in the UK of
24.030 % (2023 - 19 %)

240,763

158,379

Effects of:
Expenses not deductible for tax purposes 2,811 116
Capital allowances in excess of depreciation (8,681 ) -
Depreciation in excess of capital allowances - 3,045
Accelerated/(decelerated) capital allowances 67,185 (21,864 )
Total tax charge 302,078 139,676

The tax rate applicable for the year ended 31 January 2024 has increased following the change in the main rate of corporation tax from 19% to 25% on 01 April 2023.

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Dividends 170,000 -

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 79,851
AMORTISATION
At 1 February 2023
and 31 January 2024 79,851
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Moor Park Home Holdings Limited (Registered number: 06243029)

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

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 4,278,050 1,298 399,303
Additions 114,241 2,046 14,249
At 31 January 2024 4,392,291 3,344 413,552
DEPRECIATION
At 1 February 2023 504,984 271 309,131
Charge for year 54,666 367 24,039
At 31 January 2024 559,650 638 333,170
NET BOOK VALUE
At 31 January 2024 3,832,641 2,706 80,382
At 31 January 2023 3,773,066 1,027 90,172

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 30,492 34,585 4,743,728
Additions - 2,103 132,639
At 31 January 2024 30,492 36,688 4,876,367
DEPRECIATION
At 1 February 2023 24,784 31,337 870,507
Charge for year 1,427 2,539 83,038
At 31 January 2024 26,211 33,876 953,545
NET BOOK VALUE
At 31 January 2024 4,281 2,812 3,922,822
At 31 January 2023 5,708 3,248 3,873,221

Freehold land and buildings with a carrying value of £3,832,641 (2023: £3,773,066) have been pledged to secure the borrowings of the group.

Included within freehold land and buildings is non-depreciable land of £1,951,302 (2023: £1,951,302).

Moor Park Home Holdings Limited (Registered number: 06243029)

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

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 1,592,273
NET BOOK VALUE
At 31 January 2024 1,592,273
At 31 January 2023 1,592,273

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Moor Park House Limited
Registered office: Moor Park House, 81-83 Garstang Road, Preston, Lancashire, PR1 1LD
Nature of business: Care home operator
%
Class of shares: holding
Ordinary 100.00


13. STOCKS

Group
2024 2023
£    £   
Stocks 5,000 5,000

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 520,925 207,731
Other debtors 4,025 17,601
Prepayments 539,810 520,091
1,064,760 745,423

Moor Park Home Holdings Limited (Registered number: 06243029)

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

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 371,228 318,494 - -
Trade creditors 160,721 191,429 - -
Amounts owed to group undertakings - - 1,591,995 1,591,995
Tax 234,893 161,540 - -
Social security and other taxes - 36,499 - -
Other creditors 321,873 101,070 - -
Accrued expenses 279,687 207,651 - -
1,368,402 1,016,683 1,591,995 1,591,995

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Bank loans (see note 17) 2,645,303 2,858,967

17. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 371,228 318,494
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,645,303 2,858,967

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 3,016,531 3,177,461

Lloyds Bank plc holds a mortgage and debenture over the assets of the group.

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 151,650 84,465

Moor Park Home Holdings Limited (Registered number: 06243029)

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

19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 February 2023 84,465
Provided during year 67,185
Balance at 31 January 2024 151,650

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

21. RESERVES

Group
Retained
earnings
£   

At 1 February 2023 1,619,565
Profit for the year 699,849
Dividends (170,000 )
At 31 January 2024 2,149,414

Company
Retained
earnings
£   

At 1 February 2023 178
Profit for the year 170,000
Dividends (170,000 )
At 31 January 2024 178


22. PENSION COMMITMENTS

The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from the group in an independently administered fund.

The charge to the Income Statement in respect of pension contributions was £49,313 (2023: £42,054).

At the balance sheet date, £28,842 (2023: £614) was outstanding as is included in other creditors.

23. RELATED PARTY DISCLOSURES

During the year, total dividends of £170,000 were paid to the directors .

Moor Park Home Holdings Limited (Registered number: 06243029)

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

24. ULTIMATE CONTROLLING PARTY

No ultimate controlling party is deemed to exist, as the shares are held in equal proportions by the members.