Registered number:
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
COMPANY INFORMATION
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CLEARSPRINGS READY HOMES LTD
CONTENTS
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CLEARSPRINGS READY HOMES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
The Company operates ten-year contracts with the Home Office for the provision of asylum accommodation, support and transport services in the South of England and Wales.
The Home Office contracts run until September 2029.
Demand for accommodation for asylum seekers including contingency accommodation such as hotels has remained high throughout the year. Political and economic upheavals in many countries have driven a high number of asylum applications within the UK during the year. Operating profit on sales was 6.7%, compared with 5.8% the previous year. Return on capital employed was 120%, compared with 119% in the previous year. Current ratio decreased slightly to 1, compared with 1.07 in the previous year, reflecting a continuation of conservative financial management policies.
Turnover per employee in the year was £4,460,060 (2023 - £4,651,484). Staffing has increased to ensure contractual compliance and as a result of new accommodation projects.
Operating profit per employee in the year was £298,880 (2023 - £269,377). Revenue growth while maintaining cost control is mainly responsible for this improvement.
Government legislation and policy is designed to reduce the number of asylum applicants arriving in the UK. Some reduction in the numbers accommodated in future is anticipated.
The company manages its exposure to the other financial risks through internal policies and regular review as follows:
Credit risk is managed through regular credit control procedures. UK government departments account for a significant proportion of debtors which are settled in line with agreed terms. Any issues with outstanding or overdue balances are immediately investigated with the Home Office and promptly resolved. The nature of the company's financial instruments and significant cash balances means that they are not currently subject to cash flow or liquidity risk. There is no long term third party external debt or associated covenants. Cash flow and liquidity health are further supported by the on-going contract with the Home Office through to 2029. Cash-flow and liquidity are reviewed on a monthly basis as part of the management reporting process. Key decisions impacting cash-flow & liquidity are considered carefully by the directors, to ensure no risk exposure to the company. Furthermore, due to the long-term nature of the contract and pre-agreed rates, price risk is considered minimal.
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CLEARSPRINGS READY HOMES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
The directors must act in accordance with a general set of duties, which are detailed in section 172 of the Companies Act 2006. The directors of Clearsprings Ready Homes Ltd are aware of their responsibilities to ensure key decisions promote the success of the Company. When making decisions, each director ensures they take consideration of the benefits to its members as a whole. In making these decisions the directors ensure they consider:
a. the likely consequences of any decision in the long term b. the interests of the Company's employees c. the need to foster the Company's business relationships with suppliers, customers and others d. the impact of the Company's operations on the community and the environment e. the desirability of the Company maintaining a reputation for high standards of business conduct f. the need to act fairly as between stakeholders of the Company. Consequences of decisions in the long term The directors, as a matter of policy, consider wherever possible the long-term impact of their decision-making upon its stakeholders. The operational business operates in a long-term planning environment as a result of aligning the business strategy with its customer needs and changing requirements. Consequently, decision making is based around logistical planning and building long term customer and supplier arrangements. Wider long-term external factors are also considered in such decision making with the consequences of matters such as economic uncertainty & inflation and are planned into the operations based on consideration of scenarios. Contracts with the customers, particularly the Home Office, are long-term which allows the Company's operations to remain close to the long term thinking of its customers and in turn allows the business to build out suitable supplier relationships to match the needs of the business. Interests of the Company's employees The directors acknowledge that the employees of the group are vital to the success of the organisation and achieving its strategic goals. The Company's human resources team strive to achieve enlightened best practice in all interactions with its employees. They aspire to provide a safe workplace and an open and supportive work culture. Employees’ needs in respect of working hours, health including mental health, and financial security and wellbeing are all actively addressed in the Company's group’s policies and practice. Regular briefings keep employees informed on the strategic direction and progress of the group and its subsidiaries. The need to foster the Company's business relationships with suppliers, customers and others The Company engages with its customers on a frequent basis. For its larger contracts, the framework for engagement is contractually defined and includes regular detailed briefings covering such matters as operating and financial progress. The Company's suppliers and subcontractors are an important element in delivering the it’s services. Through a formal due diligence process, and the agreement of back-to-back contractual arrangements, the directors encourage a transparent and co-operative approach to business success. This includes provision for sustainable financial rewards for its supply chain and ensuring prompt payment in line with contracts and with published best practice. Performance issues are dealt with through supplier meetings and sharing appropriate information. Impact of the Company's operations on the community and the environment Local authorities are always consulted extensively on the location and operation of accommodation, to ensure and promote harmonious integration of the Company's service users with the wider community. The Directors aspire to minimise the adverse environmental impact of the Company's activities. Service users are encouraged to take a responsible approach to the use of energy. The Company’s employees are also encouraged to use greener forms of transport where possible. The desire of the Company maintaining a reputation for high standards The directors are concerned to maintain a reputation for high standards of conduct and governance in the
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CLEARSPRINGS READY HOMES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Company's activities. Therefore, the operations of the group follow necessary quality guidelines all the way through staff recruitment & training to oversight of the quality of service provided whether directly or through third party providers. Contracts both with the Home Office are based on longer term relationships and maintained through customer satisfaction. The Company, through the connection with its shareholders seeks to comply with the Environmental, Social and Governance obligations; this extends to include seeking to be a responsible employer and providing support to its workforce and seeking out suppliers and customers that also adopt the same principles.
The need to act fairly The directors aspire to act with fairness in their dealings with all stakeholders, including customers, its employees, its suppliers, and the wider community.
This report was approved by the board and signed on its behalf by:
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CLEARSPRINGS READY HOMES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
The directors present their report and the financial statements for the year ended 31 January 2024.
The profit for the year, after taxation, amounted to £91,222,189 (2023 - £62,538,674).
Dividends totaling £90,000,000 (2023 - £57,000,000) were proposed during the year.
The directors who served during the year were:
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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 to 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.
The information required to be disclosed by Article 8 of the Energy Efficiency Directive is included in the consolidated financial statements of Clearsprings (Management) Limited.
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CLEARSPRINGS READY HOMES LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Employees are kept informed of the progress of, and issues affecting the group through regular newsletters and briefing sessions which include the opportunity to ask questions and suggest ideas. Employees are encouraged to take an interest in all aspects of the group's financial and operational performance.
Under Section 414c(ii) of the Companies Act 2006, the following information is included within the Strategic Report:
- Statement on employee engagement and business relationships with suppliers, customers and others - Financial risk management objectives & policies
The auditors, Peters Elworthy & Moore, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf by:
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CLEARSPRINGS READY HOMES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLEARSPRINGS READY HOMES LTD
We have audited the financial statements of Clearsprings Ready Homes Ltd (the 'Company') for the year ended 31 January 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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CLEARSPRINGS READY HOMES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLEARSPRINGS READY HOMES LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report.
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CLEARSPRINGS READY HOMES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLEARSPRINGS READY HOMES LTD (CONTINUED)
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 an Auditors' Report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of the industry;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements, including FRS 102, the Companies Act 2006, taxation legislation, or those fundamental to the Company’s ability to operate, or to avoid a material penalty, including data protection, employment and health and safety;
∙we obtained an understanding of the Company’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of fraud through management bias and override of controls. In addressing the risk of fraud through management bias and override of controls we:
∙tested the appropriateness of journal entries and other adjustments;
∙designed procedures to identify unexpected and unusual journal entries and performed testing to confirm the validity of such postings;
∙assessed whether the accounting judgements made in the financial statements were indicative of potential bias; and
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CLEARSPRINGS READY HOMES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLEARSPRINGS READY HOMES LTD (CONTINUED)
∙evaluated the business rationale of any significant transactions that were unusual or outside the normal course of business.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙enquiring of management as to actual and potential litigation and claims; and
∙reviewing the minutes of meetings of those charged with governance.
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 Auditors' 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 an Auditors' Report 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Salisbury House
Station Road
CB1 2LA
Date:
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CLEARSPRINGS READY HOMES LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
REGISTERED NUMBER: 07921508
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 25 form part of these financial statements.
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CLEARSPRINGS READY HOMES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Clearsprings Ready Homes Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 26 Brook Road, Rayleigh, Essex, SS6 7XJ.
The Company's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Clearsprings (Management) Limited as at 31 January 2024 and these financial statements may be obtained from Companies House.
The Company has positive shareholder's funds and net current liabilities. Commercial arrangements with key suppliers and sub-contractors are structured so as to provide natural resilience during conditions of increased or decreased demand. The new Home Office contracts are not expected to place significant strain on cash resources or working capital. Management are confident based upon forecasts that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
2.ACCOUNTING POLICIES (CONTINUED)
Turnover from accommodation is recognised when hotel and housing accommodation has been provided to the Company's service users.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
2.ACCOUNTING POLICIES (CONTINUED)
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
2.ACCOUNTING POLICIES (CONTINUED)
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, are initially measured at their transaction price after transaction costs.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
2.ACCOUNTING POLICIES (CONTINUED)
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Closing deferred tax assets and liabilities are calculated at 25.00% (2023 - 25.00%) in accordance with the rates enacted at the balance sheet date. The Finance Act 2021, which announced the upcoming rise in headline rates of corporation tax to 25% from 1 April 2023, was substantively enacted on 24 May 2021.
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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CLEARSPRINGS READY HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £449,895 (2023 - £295,752).
23.OTHER FINANCIAL COMMITMENTS
There is a cross guarantee in place between Clearsprings Ready Homes Limited and its parent company, Clearsprings (Management) Limited. The cross guarantee is in favour of the Group's bankers, Barclays Bank plc. At the year end, the Group was not in debt to Barclays Bank plc.
The largest and smallest group for which consolidated financial statements is prepared is that headed by the parent entity, Clearsprings (Management) Limited, incorporated in England and Wales. Financial statements can be obtained from Companies House.
The ultimate controlling party is G King by virtue of his shareholding in Clearsprings (Management) Limited.
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