Company registration number 07429058 (England and Wales)
HERMES CARE LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
HERMES CARE LTD
COMPANY INFORMATION
Directors
S Z Hasan
N Admani
Company number
07429058
Registered office
Unit 3 Old Brickworks Lane
Chesterfield
S41 7JD
Auditor
Hart Shaw LLP
Europa Link
Sheffield Business Park
Sheffield
S9 1XU
HERMES CARE LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 29
HERMES CARE LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present the strategic report for the year ended 31 March 2024.

Fair review of the business

The directors are pleased to present their Strategic Report for the year ended 31st March 2024.

 

Hermes Care ongoing strategy is to help older people live with kindness and show our residents that they matter. This enables the ladies and gentleman we care for to live a happier, healthier and more fulfilling live.

 

We aim to achieve this by developing and operating both existing and new care homes.

 

Well maintained facilities are important to good quality care along with training and technology to deliver timely information to the care givers and respond to the needs with intervention that impacts positively on our residents. To this end we are reviewing our current training and moving towards a new digital training package that provides not only flexibility on mediums to access but a good overview of our compliance and how we manage the workforce in its training delivery.

 

100% of our homes are rated Good by CQC and we strive for Outstanding especially in the “Care” domain.

Principal risks and uncertainties

2023-2024 was a year where the work we have completed over the last 3 years has provided stability in the workforce and allowed us to focus on fee generation maximising individual fee packages to support the workforce requirements. Many of the fee packages are supported by our own workforce with an aim to reduce agency supply wherever possible but bear in mind that non standard care packages can change and we need to manage the requirements of the staff group to not be overstaffed at times when we don’t need them.

HERMES CARE LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Development and performance

Our occupancies have improved and stabilised to a good level and our focus has been on the challenges of increased costs in labour, food, energy and cost of capital. Interest rates and labour have increased dramatically and we have been able to support the increases in labour through increased fees. We hope to see interest rates fall over the next 24 months where the reductions can be invested back into the business for future growth.

We are deeply proud of our staff team for responding and providing the most sympathetic care to residents, families and their work colleagues.

 

We remain proud of the actions and training to keep staff enthused and retained.

 

We have seen some of the staff recruited from overseas achieving their higher qualifications and being able to work as Registered Nurses in the UK which continues to provide a good pathway to recruit highly trained individuals.

 

We are also incredibly grateful to the families who worked in partnership with us throughout the year.

 

Our turnover for the group increased and average fees were stabilised and the income achieved is allowing us to meet the increased cost of capital.

 

This has enabled us to maintain a sound capital structure and keep care at the forefront of what we do. We had already invested in technology to support the delivery of care and this investment allowed us to provide better communications and focus on updated and robust infection control strategies. The training technology will enhance the skills of the workforce and provide good underpinning knowledge to support the company’s ethos or care focussing on mattering and feelings.

 

We have been able to start building work on our new care opportunity called the Mount Pleasant Care Village which will provide 39 Luxury Nursing Care Beds, 16 Nursing Apartments and 19 Self Contained Supported Living Units. This investment has resulted in us achieving full planning permission for this new project and we are starting on site in Phase 1 in June 2024 and expect to finish this phase by June 2025.

 

We are pleased with an intermediate care contract that we were awarded and good feedback has been provided by the commissioners in our second year of provision.

 

The directors have a reasonable expectation that the business is adequately resourced to operate a kind group of care homes for the foreseeable future. We continue to monitor on a monthly basis and provide quarterly financial updates to the board for strategic discussions.

 

Key performance indicators

Our key performance indicators are occupancy levels where we strive for 95%, average fee levels per home and type of service, staffing percentages to be controlled at 70% and our CQC ratings on quality especially in the domain of Care.

On behalf of the board

S Z Hasan
Director
23 October 2024
HERMES CARE LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company and group continued to be that of running of care homes and provision of related services.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

S Z Hasan
N Admani
Auditor

In accordance with the company's articles, a resolution proposing that Hart Shaw LLP be reappointed as auditor of the group will be put at a General Meeting.

Strategic Report

The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
S Z Hasan
Director
23 October 2024
HERMES CARE LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

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

HERMES CARE LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HERMES CARE LTD
- 5 -
Opinion

We have audited the financial statements of Hermes Care Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

HERMES CARE LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HERMES CARE LTD
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's 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:

At the planning stage we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management, as required by auditing standards.

 

The potential effect of any laws and regulation on the financial statements can vary considerably. The significant laws and regulations directly affecting the financial statements where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements include the Care Quality Commission, The Care Standards Act 2014 and The Companies Act 2006 as well as other operational laws and regulations.

 

Owing to the size, nature and complexity of the organisation and the applicable laws and regulations to which it must adhere, the risk of material misstatement was deemed to be low.

 

In response, our approach included but was not limited to:

 

HERMES CARE LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HERMES CARE LTD
- 7 -

Management override is the most likely way in which fraud might present itself and as such is inherently high risk on any audit. Management override, which may cause there to be a material misstatement within the financial statements, may present itself in a number of ways, for example:

 

In order to reduce the risk of material misstatement to an acceptable level, numerous audit procedures were performed including:

 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected material misstatements in the financial statements, even though we have performed our audit in accordance with auditing standards. Furthermore, as with all audits, there is a higher risk of irregularities (especially those relating to fraud) being undetected, as these may involve the override of internal controls, collusion, intentional omissions and misrepresentations etc. We are not responsible for preventing non-compliance or fraud and therefore cannot be expected to detect all instances of such. Our audit was not designed to identify misstatements or other irregularities that would not be considered to be material to the financial statements. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's 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.

Natalie Bracey (Senior Statutory Auditor)
For and on behalf of
12 November 2024
Chartered Accountants
Statutory Auditor
HERMES CARE LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
2024
2023
as restated
Notes
£
£
Turnover
3
8,376,545
7,682,646
Cost of sales
(6,602,038)
(6,171,321)
Gross profit
1,774,507
1,511,325
Administrative expenses
(1,300,371)
(1,147,970)
Other operating income
78,380
40,005
Operating profit
4
552,516
403,360
Interest receivable and similar income
7
189
-
0
Interest payable and similar expenses
8
(280,249)
(184,298)
Profit before taxation
272,456
219,062
Tax on profit
9
(73,072)
(44,165)
Profit for the financial year
199,384
174,897
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
HERMES CARE LTD
GROUP BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 9 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Negative goodwill
10
(53,838)
(83,703)
Tangible assets
11
7,020,623
6,925,216
Current assets
Stocks
14
5,697
5,697
Debtors
15
495,832
408,857
Cash at bank and in hand
1,066,308
1,090,426
1,567,837
1,504,980
Creditors: amounts falling due within one year
16
(3,328,661)
(3,488,599)
Net current liabilities
(1,760,824)
(1,983,619)
Total assets less current liabilities
5,205,961
4,857,894
Creditors: amounts falling due after more than one year
17
(3,609,739)
(3,400,956)
Provisions for liabilities
Deferred tax liability
20
355,450
415,550
(355,450)
(415,550)
Net assets
1,240,772
1,041,388
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
1,240,672
1,041,288
Total equity
1,240,772
1,041,388

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
23 October 2024
S Z Hasan
Director
Company registration number 07429058 (England and Wales)
HERMES CARE LTD
COMPANY BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 10 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
11
1,498,424
1,130,480
Investments
12
4,795,333
4,795,333
6,293,757
5,925,813
Current assets
Debtors
15
1,575,877
1,324,907
Cash at bank and in hand
142,243
181,588
1,718,120
1,506,495
Creditors: amounts falling due within one year
16
(2,207,421)
(2,553,629)
Net current liabilities
(489,301)
(1,047,134)
Total assets less current liabilities
5,804,456
4,878,679
Creditors: amounts falling due after more than one year
17
(3,571,046)
(3,332,818)
Provisions for liabilities
Deferred tax liability
20
92,400
98,700
(92,400)
(98,700)
Net assets
2,141,010
1,447,161
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
2,140,910
1,447,061
Total equity
2,141,010
1,447,161

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £693,849 (2023 - £552,401 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
23 October 2024
S Z Hasan
Director
Company registration number 07429058 (England and Wales)
HERMES CARE LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
As restated for the period ended 31 March 2023:
Balance at 1 April 2022
100
1,958,795
1,958,895
Effect of change in accounting policy
-
(1,092,404)
(1,092,404)
As restated
100
866,391
866,491
Year ended 31 March 2023:
Profit and total comprehensive income
-
174,897
174,897
Balance at 31 March 2023
100
1,041,288
1,041,388
Year ended 31 March 2024:
Profit and total comprehensive income
-
199,384
199,384
Balance at 31 March 2024
100
1,240,672
1,240,772
HERMES CARE LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
As restated for the period ended 31 March 2023:
Balance at 1 April 2022
100
852,220
852,320
Effect of change in accounting policy
-
42,440
42,440
As restated
100
894,660
894,760
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
552,401
552,401
Balance at 31 March 2023
100
1,447,061
1,447,161
Year ended 31 March 2024:
Profit and total comprehensive income
-
693,849
693,849
Balance at 31 March 2024
100
2,140,910
2,141,010
HERMES CARE LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
2024
2023
as restated
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
827,386
909,247
Interest paid
(280,249)
(184,298)
Income taxes paid
(47,494)
(121,781)
Net cash inflow from operating activities
499,643
603,168
Investing activities
Purchase of tangible fixed assets
(428,323)
(223,351)
Proceeds from disposal of tangible fixed assets
71,000
-
Interest received
189
-
0
Net cash used in investing activities
(357,134)
(223,351)
Financing activities
Repayment of borrowings
-
(3,116)
Proceeds from new bank loans
283,015
-
Repayment of bank loans
(357,124)
(437,856)
Payment of finance leases obligations
(92,518)
(40,465)
Net cash used in financing activities
(166,627)
(481,437)
Net decrease in cash and cash equivalents
(24,118)
(101,620)
Cash and cash equivalents at beginning of year
1,090,426
1,192,046
Cash and cash equivalents at end of year
1,066,308
1,090,426
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
1
Accounting policies
Company information

Hermes Care Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 3 Old Brickworks Lane, Chesterfield, S41 7JD.

 

The group consists of Hermes Care Ltd and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Hermes Care Ltd together with all entities controlled by the parent company (its subsidiaries).

 

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

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.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.6
Intangible fixed assets - goodwill

Negative goodwill represents the excess of the fair value of net assets acquired over the cost of acquisition of a business. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Negative goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years..

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 16 -
1.8
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 17 -
1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 18 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 19 -
1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.18
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Change in accounting policy

The directors have decided to revert to an historic cost basis for freehold land and buildings in order to represent a truer and fairer view of the company's performance. The change in accounting policy has led to a prior year adjustment as documented in note 28.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Care home services
8,376,545
7,682,646
2024
2023
£
£
Other revenue
Interest income
189
-
Grants received
71,228
40,005
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
(71,228)
(40,005)
Depreciation of owned tangible fixed assets
382,135
374,979
Profit on disposal of tangible fixed assets
(2,119)
-
Amortisation of intangible assets
(29,865)
(29,865)
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
7,050
6,750
Audit of the financial statements of the company's subsidiaries
21,150
20,250
28,200
27,000
For other services
Taxation compliance services
6,600
6,000
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
234
235
47
49

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
4,918,724
4,249,787
973,358
793,393
Social security costs
377,483
301,795
70,341
54,335
Pension costs
90,483
76,102
17,339
13,857
5,386,690
4,627,684
1,061,038
861,585
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
1
-
0
Other interest income
188
-
Total income
189
-
0
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
261,244
175,726
Interest on finance leases and hire purchase contracts
17,590
6,620
Other interest
1,415
1,952
Total finance costs
280,249
184,298
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
134,194
48,465
Adjustments in respect of prior periods
(1,022)
-
0
Total current tax
133,172
48,465
Deferred tax
Origination and reversal of timing differences
(60,100)
(4,300)
Total tax charge
73,072
44,165

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
272,456
219,062
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
68,114
41,622
Tax effect of expenses that are not deductible in determining taxable profit
202
228
Adjustments in respect of prior years
(1,028)
-
0
Permanent capital allowances in excess of depreciation
66,977
6,615
Tax at marginal rate
(1,093)
-
0
Deferred tax
(60,100)
(4,300)
Taxation charge
73,072
44,165
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
10
Intangible fixed assets
Group
Negative goodwill
£
Cost
At 1 April 2023 and 31 March 2024
(298,813)
Amortisation and impairment
At 1 April 2023
(215,110)
Amortisation charged for the year
(29,865)
At 31 March 2024
(244,975)
Carrying amount
At 31 March 2024
(53,838)
At 31 March 2023
(83,703)
The company had no intangible fixed assets at 31 March 2024 or 31 March 2023.
11
Tangible fixed assets
Group
Freehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
7,683,838
157,439
1,049,566
1,532,220
393,702
10,816,765
Additions
-
0
319,981
40,937
16,290
169,215
546,423
Disposals
-
0
-
0
-
0
(10,368)
(134,997)
(145,365)
At 31 March 2024
7,683,838
477,420
1,090,503
1,538,142
427,920
11,217,823
Depreciation and impairment
At 1 April 2023
1,828,943
-
0
759,512
1,164,690
138,404
3,891,549
Depreciation charged in the year
223,205
-
0
45,909
55,238
57,783
382,135
Eliminated in respect of disposals
-
0
-
0
-
0
(7,933)
(68,551)
(76,484)
At 31 March 2024
2,052,148
-
0
805,421
1,211,995
127,636
4,197,200
Carrying amount
At 31 March 2024
5,631,690
477,420
285,082
326,147
300,284
7,020,623
At 31 March 2023
5,854,895
157,439
290,054
367,530
255,298
6,925,216
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Tangible fixed assets
(Continued)
- 23 -
Company
Freehold land and buildings
Assets under construction
Plant and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
747,794
157,439
341,680
393,702
1,640,615
Additions
-
0
319,981
39,774
169,215
528,970
Disposals
-
0
-
0
-
0
(134,997)
(134,997)
At 31 March 2024
747,794
477,420
381,454
427,920
2,034,588
Depreciation and impairment
At 1 April 2023
163,176
-
0
208,555
138,404
510,135
Depreciation charged in the year
14,452
-
0
22,345
57,783
94,580
Eliminated in respect of disposals
-
0
-
0
-
0
(68,551)
(68,551)
At 31 March 2024
177,628
-
0
230,900
127,636
536,164
Carrying amount
At 31 March 2024
570,166
477,420
150,554
300,284
1,498,424
At 31 March 2023
584,618
157,439
133,125
255,298
1,130,480
12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
4,795,333
4,795,333
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023 and 31 March 2024
4,795,333
Carrying amount
At 31 March 2024
4,795,333
At 31 March 2023
4,795,333
13
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13
Subsidiaries
(Continued)
- 24 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Ackroyd House Limited
England & Wales
Residential care activities for the elderly and disabled
Ordinary
100.00
Beech House Limited
England & Wales
Residential care activities for the elderly and disable
Ordinary
100.00
S & S Healthcare Limited
England & Wales
Residential care activities for the elderly and disable
Ordinary
100.00
14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
5,697
5,697
-
-
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
388,009
312,453
157,623
64,677
Amounts owed by group undertakings
-
-
1,374,458
1,193,210
Other debtors
7,937
736
736
736
Prepayments and accrued income
99,886
95,668
43,060
66,284
495,832
408,857
1,575,877
1,324,907
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
18
225,579
486,511
195,239
456,673
Obligations under finance leases
19
63,622
60,000
63,622
60,000
Trade creditors
377,777
385,585
125,150
140,639
Amounts owed to group undertakings
-
0
-
0
95,030
160,073
Corporation tax payable
134,143
48,465
-
0
-
0
Other taxation and social security
399,614
331,125
73,038
59,630
Other creditors
1,912,769
1,999,742
1,628,456
1,643,268
Accruals and deferred income
215,157
177,171
26,886
33,346
3,328,661
3,488,599
2,207,421
2,553,629
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
17
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
3,446,577
3,259,754
3,407,884
3,191,616
Obligations under finance leases
19
163,162
141,202
163,162
141,202
3,609,739
3,400,956
3,571,046
3,332,818
Amounts included above which fall due after five years are as follows:
Payable by instalments
-
1,757,651
-
1,757,651
18
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
3,672,156
3,746,265
3,603,123
3,648,289
Payable within one year
225,579
486,511
195,239
456,673
Payable after one year
3,446,577
3,259,754
3,407,884
3,191,616

Bank borrowings are secured by a charge on the company's freehold property and by a fixed and floating charge over the company's other assets.

At the year end, the group has 5 bank loans outstanding.

 

There are four bounce back loans and one large bank loan repayable over a term of 5 years. The interest rate is 2.50% above Bank of England rate and monthly repayments of £38,465 are due to be made with a bulk payment at the end of the term.

19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
63,622
60,000
63,622
60,000
In two to five years
163,162
141,202
163,162
141,202
226,784
201,202
226,784
201,202

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 26 -
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
355,450
415,550
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
92,400
98,700
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 April 2023
415,550
98,700
Credit to profit or loss
(60,100)
(6,300)
Liability at 31 March 2024
355,450
92,400

The deferred tax liability set out above is expected to reverse in the next few years and relates to accelerated capital allowances that are expected to mature within the same period. The deferred tax due on the properties included at their fair value on acquisition are expected to mature when the properties are sold.

21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
90,483
76,102

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100

The shares particulars allow the holders to full rights with regards to voting, participation and dividends.

HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 27 -
23
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2024
2023
2024
2023
£
£
£
£
Acquisition of tangible fixed assets
400,000
400,000
400,000
400,000
24
Events after the reporting date

Post year end the company has entered into a £3m contractual agreement with a contractor to complete the next phase of The Mount Project. This agreement is due to be completed by June 2025.

25
Cash generated from operations - group
2024
2023
£
£
Profit for the year after tax
199,384
174,897
Adjustments for:
Taxation charged
73,072
44,165
Finance costs
280,249
184,298
Investment income
(189)
-
0
Gain on disposal of tangible fixed assets
(2,119)
-
Amortisation and impairment of intangible assets
(29,865)
(29,865)
Depreciation and impairment of tangible fixed assets
382,135
374,979
Movements in working capital:
Increase in stocks
-
(4,447)
(Increase)/decrease in debtors
(86,975)
143,895
Increase in creditors
11,694
21,325
Cash generated from operations
827,386
909,247
26
Analysis of changes in net debt - group
1 April 2023
Cash flows
New finance leases
31 March 2024
£
£
£
£
Cash at bank and in hand
1,090,426
(24,118)
-
1,066,308
Borrowings excluding overdrafts
(3,746,265)
74,109
-
(3,672,156)
Obligations under finance leases
(201,202)
92,518
(118,100)
(226,784)
(2,857,041)
142,509
(118,100)
(2,832,632)
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 28 -
27
Prior period adjustment

The directors have decided to revert to an historic cost basis for freehold land and buildings in order to represent a truer and fairer view of the company's and group's performance. The impact of the changes on the comparative numbers are as follows.

Changes to the balance sheet - group
As previously reported
Adjustment
As restated at 31 Mar 2023
£
£
£
Fixed assets
Tangible assets
13,545,321
(6,620,105)
6,925,216
Provisions for liabilities
Deferred tax
(2,087,900)
1,672,350
(415,550)
Net assets
5,989,143
(4,947,755)
1,041,388
Capital and reserves
Revaluation reserve
3,669,962
(3,669,962)
-
0
Profit and loss reserves
2,319,081
(1,277,793)
1,041,288
Total equity
5,989,143
(4,947,755)
1,041,388
Changes to the profit and loss account - group
As previously reported
Adjustment
As restated
Period ended 31 March 2023
£
£
£
Administrative expenses
(924,781)
(223,189)
(1,147,970)
Taxation
(81,965)
37,800
(44,165)
Profit after taxation
360,286
(185,389)
174,897
Changes to the balance sheet - company
As previously reported
Adjustment
As restated at 31 Mar 2023
£
£
£
Fixed assets
Tangible assets
2,490,862
(1,360,382)
1,130,480
Provisions for liabilities
Deferred tax
(457,600)
358,900
(98,700)
Net assets
2,448,643
(1,001,482)
1,447,161
Capital and reserves
Revaluation reserve
1,029,486
(1,029,486)
-
0
Profit and loss reserves
1,419,057
28,004
1,447,061
Total equity
2,448,643
(1,001,482)
1,447,161
HERMES CARE LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
27
Prior period adjustment
(Continued)
- 29 -
Changes to the profit and loss account - company
As previously reported
Adjustment
As restated
Period ended 31 March 2023
£
£
£
Administrative expenses
(220,851)
(14,436)
(235,287)
2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.200S Z HasanN Admanifalsefalse07429058bus:Consolidated2023-04-012024-03-31074290582023-04-012024-03-3107429058bus:Director12023-04-012024-03-3107429058bus:Director22023-04-012024-03-3107429058bus:RegisteredOffice2023-04-012024-03-31074290582024-03-3107429058bus:Consolidated2024-03-3107429058bus:Consolidated2022-04-012023-03-31074290582022-04-012023-03-3107429058core:NegativeGoodwillbus:Consolidated2024-03-3107429058core:NegativeGoodwillbus:Consolidated2023-03-3107429058bus:Consolidated2023-03-31074290582023-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2024-03-3107429058core:ConstructionInProgressAssetsUnderConstructionbus:Consolidated2024-03-3107429058core:PlantMachinerybus:Consolidated2024-03-3107429058core:FurnitureFittingsbus:Consolidated2024-03-3107429058core:MotorVehiclesbus:Consolidated2024-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-03-3107429058core:ConstructionInProgressAssetsUnderConstructionbus:Consolidated2023-03-3107429058core:PlantMachinerybus:Consolidated2023-03-3107429058core:FurnitureFittingsbus:Consolidated2023-03-3107429058core:MotorVehiclesbus:Consolidated2023-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3107429058core:ConstructionInProgressAssetsUnderConstruction2024-03-3107429058core:PlantMachinery2024-03-3107429058core:MotorVehicles2024-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3107429058core:ConstructionInProgressAssetsUnderConstruction2023-03-3107429058core:PlantMachinery2023-03-3107429058core:MotorVehicles2023-03-3107429058core:ShareCapitalbus:Consolidated2024-03-3107429058core:ShareCapitalbus:Consolidated2023-03-3107429058core:ShareCapital2024-03-3107429058core:ShareCapital2023-03-3107429058core:RetainedEarningsAccumulatedLosses2024-03-3107429058core:ShareCapitalbus:Consolidated2022-03-3107429058core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-03-3107429058core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-03-3107429058core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-03-3107429058core:ShareCapital2022-03-3107429058core:RetainedEarningsAccumulatedLosses2022-03-3107429058core:RetainedEarningsAccumulatedLosses2023-03-3107429058core:RevaluationReservebus:Consolidated2023-03-3107429058core:RevaluationReserve2023-03-3107429058bus:Consolidated2022-03-3107429058core:Goodwill2023-04-012024-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3107429058core:PlantMachinery2023-04-012024-03-3107429058core:FurnitureFittings2023-04-012024-03-3107429058core:MotorVehicles2023-04-012024-03-3107429058core:UKTaxbus:Consolidated2023-04-012024-03-3107429058core:UKTaxbus:Consolidated2022-04-012023-03-3107429058bus:Consolidated12023-04-012024-03-3107429058bus:Consolidated12022-04-012023-03-3107429058bus:Consolidated22023-04-012024-03-3107429058bus:Consolidated22022-04-012023-03-3107429058core:NegativeGoodwillbus:Consolidated2023-03-3107429058core:NegativeGoodwillbus:Consolidated2023-04-012024-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-03-3107429058core:ConstructionInProgressAssetsUnderConstructionbus:Consolidated2023-03-3107429058core:PlantMachinerybus:Consolidated2023-03-3107429058core:FurnitureFittingsbus:Consolidated2023-03-3107429058core:MotorVehiclesbus:Consolidated2023-03-3107429058bus:Consolidated2023-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3107429058core:ConstructionInProgressAssetsUnderConstruction2023-03-3107429058core:PlantMachinery2023-03-3107429058core:MotorVehicles2023-03-31074290582023-03-3107429058core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-04-012024-03-3107429058core:ConstructionInProgressAssetsUnderConstructionbus:Consolidated2023-04-012024-03-3107429058core:PlantMachinerybus:Consolidated2023-04-012024-03-3107429058core:FurnitureFittingsbus:Consolidated2023-04-012024-03-3107429058core:MotorVehiclesbus:Consolidated2023-04-012024-03-3107429058core:ConstructionInProgressAssetsUnderConstruction2023-04-012024-03-3107429058core:CurrentFinancialInstruments2024-03-3107429058core:CurrentFinancialInstruments2023-03-3107429058core:CurrentFinancialInstrumentsbus:Consolidated2024-03-3107429058core:CurrentFinancialInstrumentsbus:Consolidated2023-03-3107429058core:WithinOneYearbus:Consolidated2024-03-3107429058core:WithinOneYearbus:Consolidated2023-03-3107429058core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3107429058core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3107429058core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2024-03-3107429058core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-03-3107429058core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3107429058core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3107429058core:Non-currentFinancialInstrumentsbus:Consolidated2024-03-3107429058core:Non-currentFinancialInstrumentsbus:Consolidated2023-03-3107429058core:Non-currentFinancialInstruments2024-03-3107429058core:Non-currentFinancialInstruments2023-03-3107429058core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-03-3107429058core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-03-3107429058core:WithinOneYear2024-03-3107429058core:WithinOneYear2023-03-3107429058core:BetweenTwoFiveYearsbus:Consolidated2024-03-3107429058core:BetweenTwoFiveYearsbus:Consolidated2023-03-3107429058core:BetweenTwoFiveYears2024-03-3107429058core:BetweenTwoFiveYears2023-03-3107429058bus:PrivateLimitedCompanyLtd2023-04-012024-03-3107429058bus:FRS1022023-04-012024-03-3107429058bus:Audited2023-04-012024-03-3107429058bus:ConsolidatedGroupCompanyAccounts2023-04-012024-03-3107429058bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP