Company Registration No. 08405456 (England and Wales)
THE BUCKINGHAMSHIRE GROUP LIMITED
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
THE BUCKINGHAMSHIRE GROUP LIMITED
COMPANY INFORMATION
Directors
Mr C Bialan
Mr D Comyn
Mr R Cousins
Secretary
Mrs L Comyn
Company number
08405456
Registered office
31/33 Commercial Road
Poole
Dorset
BH14 0HU
Auditor
Morris Lane
31/33 Commercial Road
Poole
Dorset
BH14 0HU
Bankers
Coutts & Co
440 Strand
London
WC2R 0QS
Solicitors
Laceys Solicitors
5 Poole Road
Bournemouth
Dorset
BH2 5QL
THE BUCKINGHAMSHIRE GROUP LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 4
Independent auditor's report
5 - 8
Group income statement
9
Group statement of comprehensive income
10
Group statement of financial position
11
Company statement of financial position
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Company statement of cash flows
16
Notes to the financial statements
17 - 42
THE BUCKINGHAMSHIRE GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2023
- 1 -

The directors present the strategic report for the year ended 31 May 2023.

Fair review of the business

The consolidated results for the year are set out on page 9.

 

During the year the strategy of the Group has been to continue the growth in revenue streams and profitability across its core care service and profit centre at Kings Lodge. This follows the disposal of The Royal Buckinghamshire Hospital property asset from its portfolio. As part of this rationalisation strategy the Group is refining its businesses services at ACM to match.

 

Total Group’s annual revenue increased to £9,826,490 for the year to 31 May 2023 from £9,411,876 for the prior year. This is mainly due to the increase in performance of the Group’s care home operation, operated by the subsidiary company Alum Care Limited.

 

The Group recognised an aggregate operating profit of £373,866 for the year ended 31 May 2023 compared with an operating loss of £318,112 for the year ended 31 May 2022. This is primarily due to the decrease of operating expenses during the year compared to 2022 as a result of the sale of Group's rehabilitation services in January 2023.

 

The Group had net assets of £1,718,831 as at 31 May 2023 compared to net assets of £152,622 in 2022. This is mainly due to the sale of the sub-par performance of the Group’s rehabilitation services (see note 26).

 

The principal risks and uncertainties facing the group’s various businesses are:

 

Employment of Staff

 

Our businesses thrive on the skills and expertise of the staff we employ. The shortage of appropriate labour is a potential risk to the business, this is particularly acutely felt with the national shortage of qualified nursing staff along with the new employment rules due to Brexit. To mitigate this the Board has a Tier 2 Home office license and has recruited significantly from overseas to ensure service compliance, sustainability and to enable the growth in revenue at Kings Lodge.

 

CQC

 

Changes to Care Quality Commission (CQC) legislation, which require the company to be responsive to all compliance matters in order to ensure the continued support of care regulators, loss of revenue through lack of demand for places, reduction in Government funding and external restrictions on new resident admissions. Kings Lodge continues to have a ‘Good’ CQC rating to enable a positive relationship with regulators and service commissioners.

Future Developments

Following the sale of The Royal Buckinghamshire Hospital Rehabilitation facility, significant investment has been made in the Care Services facility, management team and staff to ensure service sustainability, compliance, and financial performance. This investment in the Care Services facility and its operations remains the core area of focus for the group for the future.

On behalf of the board

Mr C Bialan
Director
11 November 2024
THE BUCKINGHAMSHIRE GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2023
- 2 -

The directors present their annual report and financial statements for the year ended 31 May 2023.

Principal activities

The principal activity of the company and group continued to be that of investment in the facilities of care activities.

Results and dividends

The results for the year are set out on page 9.

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:

Mr C Bialan
Mr D Comyn
Mr R Cousins
Financial instruments
Treasury operations and financial instruments

The group’s activities expose it to a variety of financial risks. The Board reviews and agrees policies for managing these risks at regular intervals dependant on circumstances. The group’s principal financial instruments include assets and liabilities such as trade debtors and trade creditors arising directly from its operations. In accordance with group’s treasury policy, derivative instruments are not entered into for speculative purposes.

Liquidity risk

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

Interest rate risk

The group is exposed to fair value interest rate risk on its borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The group uses interest rate derivatives to manage the mix of fixed and variable debt so as to reduce its risk to expose to changes in the interest rates. Further details are given in note 21 to the financial statements.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board. All residents who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary. The group is not exposed to commodity price risk.

Research and development

The Group is at the forefront of ground breaking innovation and new treatment strategies for rehabilitating patients with a wide range of disabilities. The Group continues to work with its own Innovation Group consisting of senior staff including directors and other staff throughout the group to develop its knowledge and to implement new innovative products within the Group with the view to establish treatments and procedures to be adopted globally.

THE BUCKINGHAMSHIRE GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
Post reporting date events

Subsequent to the year end, the Company disposed of 100% of the share capital of Affinity Care Management Limited for £2. Affinity Care Management Limited reported a loss of £24,397 after deducting intercompany debt write offs for the year ended 31 May 2023 and showed a balance sheet deficit of £15,700 as at 31 May 2023. The full financial effects cannot yet reliably be determined.

 

Additionally, after the year end, a subsidiary company secured additional borrowings from their current bankers and then subsequently consolidated and refinanced the bank borrowings by way of a new £10,000,000 loan. As a result, the security increased from £5,200,000 to £10,000,000.

 

Subsequent to the year end, a charge was registered on the shares held by the company of a subsidiary, Alum Care Limited. The charge pledges the shares held in Alum Care Limited as security for the repayment of an intercompany loan with a fellow group company.

Future developments

Following the sale of The Royal Buckinghamshire Hospital Rehabilitation facility, significant investment has been made in the Care Services facility, management team and staff to ensure service sustainability, compliance, and financial performance. This investment in the Care Services facility and its operations remains the core area of focus for the group for the future.

Auditor

The auditor, Morris Lane, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

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.

The directors are responsible for the maintenance and integrity of the company website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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.

THE BUCKINGHAMSHIRE GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
On behalf of the board
Mr C Bialan
Director
11 November 2024
THE BUCKINGHAMSHIRE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE BUCKINGHAMSHIRE GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of The Buckinghamshire Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2023 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company 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 FRS 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 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.

Material uncertainty related to going concern

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 1.3 to the financial statements concerning the group and company’s ability to continue as a going concern. The group and company are dependent on maintaining the group and company’s current debt facilities and in addition, are dependent on the cash generated from operating activities of its subsidiaries which are in turn subject to market and macroeconomic factors, including staff shortages as a result of Brexit, rising inflation, rising interest rates, the 9.8% increase in the National Living Wage from 1 April 2024, the cost of living crisis and higher insurance premiums. These conditions, along with other matters set out in note 1.3 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the group and company’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the group and company were unable to continue as a going concern.

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:

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

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

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 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.

Identifying and assessing the risks of material misstatement due to irregularities, including fraud

 

We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and company through discussion with the directors and from our general commercial experience. The identified laws and regulations were communicated to the audit team in order that they remained alert to any non-compliance throughout the audit.

 

The group and company are subject to laws and regulations which have a direct effect on the financial statements and the disclosures contained therein. These have been identified as: the financial reporting framework under which the group and company operates - Financial Reporting Standard 102; Statutory Instrument 2008/410 – The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008; the Companies Act 2006; taxation legislation including pay as you earn and corporation tax and pensions legislation.

 

In addition to the above, the group and company are subject to other operational laws and regulations where non-compliance may have a material effect on the financial statements. Non-compliance of such laws and regulations may result in litigation, the imposition of fines or the closure of the business which could have a material impact on amounts or disclosures in the financial statements. We have identified the following laws and regulations which are more likely to have significant effect as: compliance with the Care Quality Commission regulations; food hygiene laws; health and safety laws; General Data Protection Regulation (GDPR) and employment law.

THE BUCKINGHAMSHIRE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE BUCKINGHAMSHIRE GROUP LIMITED
- 7 -

In order to identify risks of material misstatement due to fraud, we assessed events and conditions where opportunities and incentives may exist within the group and company for fraud to occur. Our risk assessment procedures included enquiring of directors as to any instances of fraud, their procedures to identify fraud and by using analytical procedures to identify any unusual or unexpected relationships. We identified the greatest potential for fraud in the following areas: recognition of income; ghost employees and grant income. As required by auditing standards, we are also required to perform specific procedures to respond to the risk of management override.

 

The identified risks of material misstatement due to fraud were communicated to the audit team in order that they remained alert to any non-compliance throughout the audit.

Audit procedures designed to respond to the risks of material misstatement due to irregularities, including fraud

 

As a result of performing our risk assessments as detailed above, we planned and performed our audit so as to identify non-compliance with such laws and regulations, including fraud by undertaking the following:

 

 

Due to the inherent limitations of an audit, there is an unavoidable risk that, despite properly planning and performing our audit in accordance with accounting standards, some material misstatements may not have been detected.

Auditing standards limit the audit procedures required to identify non-compliance with other operational laws and regulations to enquiry of directors and management and inspection of any correspondence. If a breach of operational regulations is not evident from relevant correspondence or disclosed to us, an audit is unlikely to detect that breach. In addition, the further removed non-compliance with laws and regulations is from the events and transactions included in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

 

In addition, the risk of not detecting material misstatement from due to fraud is higher than the risk of one not being detected through error as fraud may involve deliberate concealment through collusion, forgery, misrepresentations and intentional omissions.

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.

THE BUCKINGHAMSHIRE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE BUCKINGHAMSHIRE GROUP LIMITED
- 8 -

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.

Michelle Pettifer (Senior Statutory Auditor)
For and on behalf of Morris Lane
12 November 2024
Chartered Accountants
Statutory Auditor
31/33 Commercial Road
Poole
Dorset
BH14 0HU
THE BUCKINGHAMSHIRE GROUP LIMITED
GROUP INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2023
- 9 -
Continuing
Discontinued
31 May
Continuing
Discontinued
31 May
operations
operations
2023
operations
operations
2022
Notes
£
£
£
£
£
£
Revenue
3
7,136,918
2,689,572
9,826,490
5,494,420
3,917,456
9,411,876
Administrative expenses
(6,345,235)
(3,136,815)
(9,482,050)
(5,170,676)
(5,285,399)
(10,456,075)
Other operating income
19,412
10,014
29,426
104,069
88,489
192,558
Exceptional item
4
-
-
-
-
533,529
533,529
Operating profit (loss)
5
811,095
(437,229)
373,866
427,813
(745,925)
(318,112)
Investment income
9
64,930
-
64,930
48,432
31
48,463
Finance costs
10
(525,013)
-
(525,013)
(398,911)
-
(398,911)
Profit (loss) on disposal of operations
26
- The Buckinghamshire Limited
-
1,250,720
1,250,720
-
-
-
Profit (loss) before taxation
351,012
813,491
1,164,503
77,334
(745,894)
(668,560)
Tax on profit (loss)
11
401,275
431
401,706
19,987
(4,868)
15,119
Profit (loss) for the financial year
25
752,287
813,922
1,566,209
97,321
(750,762)
(653,441)
Profit (loss) for the financial year is all attributable to the owners of the parent company.
THE BUCKINGHAMSHIRE GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2023
- 10 -
2023
2022
£
£
Profit (loss) for the year
1,566,209
(653,441)
Other comprehensive income
-
-
Total comprehensive income for the year
1,566,209
(653,441)
Total comprehensive income for the year is all attributable to the owners of the parent company.
THE BUCKINGHAMSHIRE GROUP LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
31 MAY 2023
31 May 2023
- 11 -
2023
2022
Notes
£
£
£
£
Non-current assets
Goodwill
13
416,566
756,057
Other intangible assets
13
-
0
4,265
Total intangible assets
416,566
760,322
Property, plant and equipment
14
4,655,804
8,172,239
5,072,370
8,932,561
Current assets
Inventories
17
3,444
4,620
Trade and other receivables - deferred tax
22
948,754
536,451
Trade and other receivables - other
18
2,656,813
2,658,111
Cash and cash equivalents
94,973
86,141
3,703,984
3,285,323
Current liabilities
19
(1,759,560)
(11,074,824)
Net current assets (liabilities)
1,944,424
(7,789,501)
Total assets less current liabilities
7,016,794
1,143,060
Non-current liabilities
20
(4,861,393)
(450,000)
Provisions for liabilities
Deferred tax liability
22
436,570
540,438
(436,570)
(540,438)
Net assets
1,718,831
152,622
Equity
Called up share capital
24
2,340
2,340
Equity reserve
25
2,531,156
2,531,156
Other reserves
25
1,567,917
1,567,917
Retained earnings
25
(2,382,582)
(3,948,791)
Total equity
1,718,831
152,622
The financial statements were approved by the board of directors and authorised for issue on 11 November 2024 and are signed on its behalf by:
11 November 2024
Mr C Bialan
Director
THE BUCKINGHAMSHIRE GROUP LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023
31 May 2023
- 12 -
2023
2022
Notes
£
£
£
£
Non-current assets
Investments
15
1,992,118
1,412,654
Current assets
Trade and other receivables
18
2,642,885
5,442,101
Cash and cash equivalents
75,212
-
0
2,718,097
5,442,101
Current liabilities
19
(6,676,312)
(9,283,940)
Net current liabilities
(3,958,215)
(3,841,839)
Net liabilities
(1,966,097)
(2,429,185)
Equity
Called up share capital
24
2,340
2,340
Equity reserve
25
2,531,156
1,952,440
Retained earnings
25
(4,499,593)
(4,383,965)
Total equity
(1,966,097)
(2,429,185)

As permitted by s408 Companies Act 2006, the company has not presented its own income statement and related notes. The company’s loss for the year was £115,628 (2022: £2,916,869 loss).

The financial statements were approved by the board of directors and authorised for issue on 11 November 2024 and are signed on its behalf by:
11 November 2024
Mr C Bialan
Director
Company Registration No. 08405456
THE BUCKINGHAMSHIRE GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
- 13 -
Share capital
Equity reserve
Other reserves
Retained earnings
Total
£
£
£
£
£
Balance at 1 June 2021
2,340
2,555,531
1,567,917
(3,295,350)
830,438
Year ended 31 May 2022:
Loss and total comprehensive income for the year
-
-
-
(653,441)
(653,441)
Other movements
-
(24,375)
-
-
(24,375)
Balance at 31 May 2022
2,340
2,531,156
1,567,917
(3,948,791)
152,622
Year ended 31 May 2023:
Profit and total comprehensive income for the year
-
-
-
1,566,209
1,566,209
Balance at 31 May 2023
2,340
2,531,156
1,567,917
(2,382,582)
1,718,831
THE BUCKINGHAMSHIRE GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
- 14 -
Share capital
Equity reserve
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 June 2021
2,340
1,976,815
(1,467,096)
512,059
Year ended 31 May 2022:
Loss and total comprehensive income for the year
-
-
(2,916,869)
(2,916,869)
Other movements
-
(24,375)
-
(24,375)
Balance at 31 May 2022
2,340
1,952,440
(4,383,965)
(2,429,185)
Year ended 31 May 2023:
Loss and total comprehensive income for the year
-
-
(115,628)
(115,628)
Issue of convertible loan
-
578,716
-
578,716
Balance at 31 May 2023
2,340
2,531,156
(4,499,593)
(1,966,097)
THE BUCKINGHAMSHIRE GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2023
- 15 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
34
1,399,198
436,292
Interest paid
(448,044)
(381,541)
Income taxes paid
(121,943)
(87,438)
Net cash inflow (outflow) from operating activities
829,211
(32,687)
Investing activities
Proceeds of disposal of business
4,283,805
-
Purchase of property, plant and equipment
(311,154)
(145,660)
Proceeds on disposal of property, plant and equipment
2,400
2,036
Loans made
(528,272)
-
Receipts arising from loans made
-
(51,757)
Interest received
64,930
48,463
Net cash generated from (used in) investing activities
3,511,709
(146,918)
Financing activities
Redemption of shares
-
0
(24,375)
Repayment of borrowings
(1,500,000)
49,128
Proceeds of new bank loans
5,200,000
-
Repayment of bank loans
(7,883,239)
(320,695)
Net cash used in financing activities
(4,183,239)
(295,942)
Net increase (decrease) in cash and cash equivalents
157,681
(475,547)
Cash and cash equivalents at beginning of year
(62,708)
412,839
Cash and cash equivalents at end of year
94,973
(62,708)
Relating to:
Cash at bank and in hand
94,973
86,141
Bank overdrafts included in creditors payable within one year
-
(148,849)
THE BUCKINGHAMSHIRE GROUP LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2023
- 16 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
35
9,870,174
320,128
Interest paid
(298,432)
(352,919)
Income taxes paid
(156,085)
(87,408)
Net cash inflow (outflow) from operating activities
9,415,657
(120,199)
Investing activities
Proceeds on disposal of subsidiaries
2
-
0
Loans made
(528,272)
(51,757)
Interest received
62,950
48,432
Net cash used in investing activities
(465,320)
(3,325)
Financing activities
Proceeds (repayment) of other equity
-
0
(24,375)
Repayment of borrowings
(1,500,000)
49,128
Repayment of bank loans
(7,226,276)
(290,695)
Net cash used in financing activities
(8,726,276)
(265,942)
Net increase (decrease) in cash and cash equivalents
224,061
(389,466)
Cash and cash equivalents at beginning of year
(148,849)
240,617
Cash and cash equivalents at end of year
75,212
(148,849)
Relating to:
Cash at bank and in hand
75,212
-
0
Bank overdrafts included in creditors payable within one year
-
(148,849)
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 17 -
1
Accounting policies
Company information

The Buckinghamshire Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 31/33 Commercial Road, Poole, Dorset, BH14 0HU.

 

The group consists of The Buckinghamshire Group Limited 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.

As permitted by s408 Companies Act 2006, the company has not presented its own income statement and related notes. The company’s loss for the year was £115,628 (2022: £2,916,869 loss).

1.2
Basis of consolidation

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.

The consolidated group financial statements consist of the financial statements of the parent company The Buckinghamshire Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 May 2023 apart from the discontinued operations, see note 12 for additional information. 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.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 18 -
1.3
Going concern

The Board has carefully considered those factors likely to affect the future development, performance and financial position of the company and its group in relation to the ability of the company to operate within its current and foreseeable financial and operational resources.

 

The company is reliant on its directors and its wider group to provide continued financial support in order to remain a going concern. The company continues to benefit from and rely upon the strong operational performance of a key subsidiary.

 

The company and its group are facing various ongoing challenges including rising inflation, rising interest rates, staff shortages as a result of Brexit, the 9.8% increase in the National Living Wage from 1 April 2024, the cost of living crisis and higher insurance premiums.

 

In addition, the group is also dependent on the support of its bankers. The company maintains a positive relationship with its bankers and continued support has been provided to the group.

 

A number of the factors above indicate the existence of a material uncertainty which may cast doubt on the company and group’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company and its group were unable to trade as a going concern. With the increase in a key subsidiary’s performance subsequent to the year end and on the basis of the current relationship with its bankers, the directors consider that the company and group is in a position to meet its liabilities as they fall due for at least 12 months following the date of the signing of these financial statements. As such, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Revenue

Revenue 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.

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

Interest income is recognised when it is probable that the economic benefits will flow to the group and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 19 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over the FRS 102 default period of 10 years on a straight line basis, as the directors consider that it is not possible to make a reliable estimate of the useful life of the assets.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Website
3 years straight line
1.7
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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

Freehold land and buildings
2% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% reducing balance

Freehold land is not depreciated.

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 income statement.

1.8
Non-current 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.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 20 -

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 non-current 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
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated using the weighted average method.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 21 -
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 statement of financial position 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.

Fair value measurement of financial instruments

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical assets on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 22 -
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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

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 income statement 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.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 23 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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 non-current 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.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

1.19

Credit risk

The group implements appropriate credit checks on residents and service users prior to providing services. This reduces the exposure of the group in respect of credit risk.

1.20

Liquidity risk

The policy of the Group is to maintain a mix of short and long term borrowings to effectively manage liquidity risk.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 24 -
1.21

Cash flow and interest rate risk

The Group’s interest rate risk arises primarily from long-term borrowings issued at variable rates which exposes the Group to cash flow interest rate risk. The cash flow interest rate risk is managed within the Group’s business projections and planning, in the monitoring of financial covenants and through negotiation of facility terms with the provider of the borrowing facility at specified intervals. In addition, the group hedges against variations in interest rates by entering into appropriate interest rate management products with their lenders.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Revenue

An analysis of the group's revenue is as follows:

2023
2022
£
£
Revenue analysed by class of business
Rehabilitation care services
2,689,573
3,917,456
Care services
6,990,632
5,269,734
Care home management services
146,285
224,686
9,826,490
9,411,876
2023
2022
£
£
Other significant revenue
Interest income
64,930
48,463
Commissions received
-
53,249
Grants received
19,412
103,859
4
Exceptional item
2023
2022
£
£
Exceptional income
-
533,529

During the financial year ending on 31 May 2021, a subsidiary incurred significant storm damage to the freehold property it operates from. As a result, the subsidiary was unable to use parts of the building. This had a direct effect on the company's turnover and so a business interruption insurance claim was made.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 25 -
5
Operating profit (loss)
2023
2022
£
£
Operating profit (loss) for the year is stated after charging (crediting):
Government grants
(19,412)
(103,859)
Depreciation of owned property, plant and equipment
182,955
237,439
Loss on disposal of property, plant and equipment
4,572
1,053
Amortisation of intangible assets
343,756
346,369
Operating lease charges
29,944
97,707

Amortisation of intangible assets is included in administrative expenses.

 

Government grants received in the year relate to various Covid-19 support schemes.

6
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
17,515
7,382
Audit of the financial statements of the company's subsidiaries
18,534
26,592
36,049
33,974
For other services
Taxation compliance services
3,578
10,652
All other non-audit services
123,471
81,191
127,049
91,843
7
Employees

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

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Care services
153
151
-
-
Care management services
9
10
-
-
Directors
3
3
3
3
Total
165
164
3
3
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
7
Employees
(Continued)
- 26 -

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
4,427,747
5,240,699
206,534
202,665
Social security costs
457,477
522,711
26,719
25,001
Pension costs
86,585
91,191
1,211
2,275
4,971,809
5,854,601
234,464
229,941
8
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
206,534
202,667
Company pension contributions to defined contribution schemes
1,211
2,275
207,745
204,942

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2022 - 3).

Remuneration disclosed above includes the following amounts paid to the highest paid director:
2023
2022
£
£
Remuneration for qualifying services
149,000
163,583
Company pension contributions to defined contribution schemes
1,211
1,321
9
Investment income
2023
2022
£
£
Interest income
Interest on bank deposits
2,921
1
Other interest income
62,009
48,462
Total income
64,930
48,463

Investment income includes the following:

Interest on financial assets not measured at fair value through profit or loss
2,921
1
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 27 -
10
Finance costs
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
373,812
244,157
Other interest on financial liabilities
151,201
145,636
525,013
389,793
Other finance costs:
Other interest
-
9,118
Total finance costs
525,013
398,911
11
Taxation
2023
2022
£
£
Current tax
Adjustments in respect of prior periods
953
(34,112)
Deferred tax
Origination and reversal of timing differences
(402,659)
17,757
Changes in tax rates
-
0
1,236
Total deferred tax
(402,659)
18,993
Total tax credit
(401,706)
(15,119)

Of the charge to current tax in relation to discontinued operations, £0 relates to tax on profits and £0 arose on disposal.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
11
Taxation
(Continued)
- 28 -

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

2023
2022
£
£
Profit (loss) before taxation
1,164,503
(668,560)
Expected tax charge (credit) based on the standard rate of corporation tax in the UK of 25.00% (2022 - 19.00%)
291,126
(127,026)
Tax effect of expenses that are not deductible in determining taxable profit
118,533
92,765
Tax effect of income not taxable in determining taxable profit
(1,687)
-
0
Unutilised tax losses carried forward
(55,405)
50,339
Adjustments in respect of prior years
953
(34,112)
Permanent capital allowances in excess of depreciation
(40,725)
(16,278)
Deferred tax on fair value adjustments
5,726
4,352
Deferred tax on unutilised tax losses carried forward
(417,419)
-
0
Deferred tax on accelerated capital allowances
9,034
13,405
Deferred tax on change of tax rate
-
1,236
Loss on disposal of fixed assets
(311,842)
200
Taxation credit
(401,706)
(15,119)
12
Discontinued operations
The Buckinghamshire Limited

During the year, on 19 January 2023 the company disposed of its 100% shareholding The Buckinghamshire Limited and its subsidiary, The Royal Buckinghamshire Hospital Limited. The disposal was effected as a strategic withdrawal from the provision of specialist rehabilitation care services by the company.

 

A profit of £1,250,720 arose on the disposal, being the proceeds of the sale, less the costs of sale, carrying amount of the business assets and attributable goodwill.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 29 -
13
Intangible fixed assets
Group
Goodwill
Website
Total
£
£
£
Cost
At 1 June 2022
3,439,297
47,579
3,486,876
Disposals
-
0
(9,422)
(9,422)
At 31 May 2023
3,439,297
38,157
3,477,454
Amortisation and impairment
At 1 June 2022
2,683,240
43,314
2,726,554
Amortisation charged for the year
339,491
4,265
343,756
Disposals
-
0
(9,422)
(9,422)
At 31 May 2023
3,022,731
38,157
3,060,888
Carrying amount
At 31 May 2023
416,566
-
0
416,566
At 31 May 2022
756,057
4,265
760,322
The company had no intangible fixed assets at 31 May 2023 or 31 May 2022.

Intangible fixed assets with a carrying amount of £416,566 (2022: £760,322) have been pledged to secure liabilities of the group. Detail of these liabilities are given in note 21.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 30 -
14
Property, plant and equipment
Group
Freehold land and buildings
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2022
8,383,705
1,971,564
28,993
10,384,262
Additions
228,779
82,374
-
0
311,153
Disposals
(3,679,019)
(1,598,750)
(5,273)
(5,283,042)
At 31 May 2023
4,933,465
455,188
23,720
5,412,373
Depreciation and impairment
At 1 June 2022
471,774
1,727,703
12,546
2,212,023
Depreciation charged in the year
72,819
107,431
2,705
182,955
Eliminated in respect of disposals
(163,965)
(1,473,216)
(1,228)
(1,638,409)
At 31 May 2023
380,628
361,918
14,023
756,569
Carrying amount
At 31 May 2023
4,552,837
93,270
9,697
4,655,804
At 31 May 2022
7,911,931
243,861
16,447
8,172,239
Company
Fixtures, fittings & equipment
£
Cost
At 1 June 2022
1,328
Disposals
(1,328)
At 31 May 2023
-
0
Depreciation and impairment
At 1 June 2022
1,328
Eliminated in respect of disposals
(1,328)
At 31 May 2023
-
0
Carrying amount
At 31 May 2023
-
0

Property, plant and equipment with a carrying amount of £4,655,804 (2022: £8,172,239) have been pledged to secure liabilities of the group. Detail of these liabilities are given in note 21.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 31 -
15
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
16
-
0
-
0
1,992,118
1,412,654
Financial assets pledged as collateral

Fixed asset investments with a carrying amount of £1,992,118 (2022: £1,412,654) have been pledged to secure liabilities of the company. Detail of these liabilities are given in note 21.

During the year the company was allotted an additional share of one of it's subsidiaries. The subsidiary was subsequently disposed of during the year.

 

Additionally, the company acquired 25% of a subsidiary company from a fellow group company. As a result the company now has 100% direct control of the subsidiary.

Movements in non-current investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2022
1,412,654
Additions
2,799,831
Return of investment
(250)
Disposals
(2,220,117)
At 31 May 2023
1,992,118
Carrying amount
At 31 May 2023
1,992,118
At 31 May 2022
1,412,654
16
Subsidiaries

Details of the company's subsidiaries at 31 May 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Affinity Care Management Limited
England and Wales
Care home management
Ordinary
100.00
Alum Care Limited
England and Wales
Operating a care home
Ordinary
100.00
Ballinderry Limited Liability Partnership
England and Wales
Investment activities
Members' interest
100.00
The Bucks Group Limited
England and Wales
Dormant
Ordinary
100.00

The investments in subsidiaries are all stated at cost, less provision for impairment.

The registered office of each of the above subsidiaries is 31/33 Commercial Road, Poole, Dorset, BH14 0HU.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 32 -
17
Inventories
Group
Company
2023
2022
2023
2022
£
£
£
£
Patient requisites
3,444
4,620
-
0
-
0

Patient requisites with a carrying amount of £3,444 (2022: £4,620) have been pledged to secure liabilities of the group. Detail of these liabilities are given in note 21.

18
Trade and other receivables
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade receivables
330,269
725,415
-
0
-
0
Corporation tax recoverable
550,631
407,434
550,631
372,339
Amounts owed by group undertakings
-
-
-
3,923,893
Other receivables
1,680,977
1,154,317
1,674,835
1,145,869
Prepayments and accrued income
94,936
370,945
-
0
-
0
2,656,813
2,658,111
2,225,466
5,442,101
Deferred tax asset (note 22)
283,460
-
0
283,460
-
0
2,940,273
2,658,111
2,508,926
5,442,101
Amounts falling due after more than one year:
Deferred tax asset (note 22)
665,294
536,451
133,959
-
0
Total debtors
3,605,567
3,194,562
2,642,885
5,442,101

Trade debtors and other receivables with a carrying amount of £3,605,567 (2022: £3,194,562) have been pledged to secure liabilities of the group. Detail of these liabilities are given in note 21.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 33 -
19
Current liabilities
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
21
251,644
7,495,125
-
0
7,375,125
Other borrowings
21
-
0
1,500,000
-
0
1,500,000
Trade payables
261,433
699,591
9,600
28,814
Amounts owed to group undertakings
-
0
-
0
6,060,143
48,056
Corporation tax payable
272,416
232,907
272,416
232,907
Other taxation and social security
116,273
211,743
13,125
6,764
Other payables
363,600
496,091
165,574
257
Accruals and deferred income
494,194
439,367
155,454
92,017
1,759,560
11,074,824
6,676,312
9,283,940
20
Non-current liabilities
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
21
4,861,393
450,000
-
0
-
0
21
Borrowings
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
5,113,037
7,796,276
-
0
7,226,276
Bank overdrafts
-
0
148,849
-
0
148,849
Loans from related parties
-
0
1,500,000
-
0
1,500,000
5,113,037
9,445,125
-
8,875,125
Payable within one year
251,644
8,995,125
-
0
8,875,125
Payable after one year
4,861,393
450,000
-
0
-
0
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
21
Borrowings
(Continued)
- 34 -

Bank loans included above totalling of £5,113,037 (2022: £7,226,276) are secured by way of first legal charges over the properties and other assets of the group, a debenture and an intercompany guarantee up to an amount of £5,200,000 (2022: £13,000,000). Interest is payable at a rate of 2.75% over Sterling Over Night Index Average (2022: interest was payable at a rate of 2.65% plus a compounded reference rate) and the loan matures in January 2026.

 

At 31 May 2022 the group was in breach of the financial covenants relating to is bank borrowings and as such bank loans totalling £7,234,906 have been shown as fully repayable within one year.

 

The loans from related parties were repaid in the year ended 31 May 2023. With regards to the balance of £1,500,000 as at 31 May 2022, this was secured by way of a fixed and floating debenture over the group's assets which has now been part satisfied. Interest was payable at two different rates: 5% on a balance of £1,033,000 and 10% on the remaining £467,000.

 

The Coronavirus Business Interruption Loan Scheme loan was repaid in the year ended 31 May 2023. With regards to the balance of £570,000 as at 31 May 2022, this was secured by way of first legal charges over the properties and other assets of the group, a debenture and an intercompany guarantee. Interest was payable at a rate of 4.5% over the Coutts Base rate and in the first 12 months of the loan, the interest was met by the Government. The loan was due to mature in December 2026.

22
Deferred taxation

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
Assets
Assets
2023
2022
2023
2022
Group
£
£
£
£
Accelerated capital allowances
436,570
540,438
4,504
3,894
Tax losses
-
-
417,419
-
Fair value adjustments
-
-
526,831
532,557
436,570
540,438
948,754
536,451
Liabilities
Liabilities
Assets
Assets
2023
2022
2023
2022
Company
£
£
£
£
Tax losses
-
-
417,419
-
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
22
Deferred taxation
(Continued)
- 35 -
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 June 2022
3,987
-
Credit to profit or loss
(402,659)
(417,419)
Transfer on disposal
(113,512)
-
Asset at 31 May 2023
(512,184)
(417,419)

Of the deferred tax asset set out above, an amount of £617 is expected to reverse within 12 months and relates to decelerated capital allowances, an amount of £nil is expected to reverse within 12 months and relates to accelerated capital allowances, an amount of £283,460 is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period and an amount of £5,727 is expected to reverse within 12 months and relates to fair value adjustments.

23
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
86,585
91,191

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. At the balance sheet date, unpaid contributions of £14,354 (2022: £16,949) were due to the fund. They are included in other creditors.

24
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
639
639
639
639
Ordinary 'B' shares of £1 each
765
765
765
765
Ordinary 'C' shares of £1 each
936
936
936
936
2,340
2,340
2,340
2,340

Ordinary 'A' shares have voting rights but have no right to fixed income or fixed repayment of capital.

 

Ordinary 'B' shares have voting rights but have no right to fixed income or fixed repayment of capital.

 

Ordinary 'C' shares have voting rights but have no right to fixed income or fixed repayment of capital.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 36 -
25
Reserves
Share premium

The share premium reserve contains the premium arising on issue of equity shares, net of issue expenses.

Equity reserve

Other equity comprises unsecured borrowings repayable at the discretion of the group or on the occurrence of specific contingent conditions arising. Any interest payable on these borrowings is to be paid as part of a return of capital and the conditions attaching to the loan specify that the payment of interest must be matched to a dividend payment to Ordinary 'A' and Ordinary 'B' equity holders. As such the characteristics of the borrowings are that of equity instruments and they are therefore reported on this basis in the financial statements.

Other reserves

Other reverses comprises merger relief reserve.

Retained earnings

Retained earnings represents cumulative profits or losses, including unrealised profit on the remeasurement of investment properties, net of dividends paid and other adjustments.

26
Disposals

On 19 January 2023 the group disposed of its 100% holding in The Buckinghamshire Limited and it's subsidiary, The Royal Buckinghamshire Hospital Limited. Included in these financial statements are losses of £64,328 arising from the company's interests in The Buckinghamshire Limited and losses of £372,470 arising from the company's interests in The Royal Buckinghamshire Hospital Limited up to the date of their disposal.

Net assets disposed of
£
Cash and cash equivalents
212,943
Property, plant and equipment
3,637,662
Trade and other receivables
720,692
Inventories
15,758
Trade and other payables
(1,227,516)
Deferred tax
(113,512)
3,246,027
Profit on disposal
1,250,720
Total consideration
4,496,747
The consideration was satisfied by:
£
Cash
4,496,747
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 37 -
27
Financial commitments, guarantees and contingent liabilities

At 31 May 2023, the group had contingent liabilities amounting to £236,391 (2022: £236,391) in respect of possible additional charge to stamp duty land tax and corporation tax within Alum Care Limited. This possible charge is in respect of the initial apportionment on purchase of the care home held by the company and relates to the values attributable to freehold property and goodwill. The determination of any liability to charge remains under assessment as at the end of the financial period.

 

At 31 May 2023, the company had secured borrowings of its subsidiary company Alum Care Limited, by the way of fixed and floating charge over all its assets, a debenture and an intercompany guarantee up to a maximum of £nil (2022: £600,000). At 31 May 2023, the maximum exposure of the company in respect of amounts drawn by the subsidiary company was £nil (2022 - £570,000).

 

At 31 May 2023, the group and company had contingent liabilities amounting to £1,231,149 (2022: £1,157,709) and £1,231,149 (2022: £787,419) respectively, in respect of interest due on equity loans made by the operators of a pension fund of which a director of the parent company is a beneficiary. The interest is only payable when specific contingent conditions are conditions are met. See note 25: Equity reserve for additional details in connection with these borrowings and the contingent conditions.

28
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
4,464
29,636
-
-
Between two and five years
10,788
57,578
-
-
15,252
87,214
-
-
29
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2023
2022
2023
2022
£
£
£
£
Acquisition of property, plant and equipment
-
79,150
-
-
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 38 -
30
Events after the reporting date

Subsequent to the year end, the Company disposed of 100% of the share capital of Affinity Care Management Limited for £2. Affinity Care Management Limited reported a loss of £24,397 after deducting intercompany debt write offs for the year ended 31 May 2023 and showed a balance sheet deficit of £15,700 as at 31 May 2023. The full financial effects cannot yet reliably be determined.

 

Additionally, after the year end, a subsidiary company secured additional borrowings from their current bankers and then subsequently consolidated and refinanced the bank borrowings by way of a new £10,000,000 loan. As a result, the security increased from £5,200,000 to £10,000,000.

 

Subsequent to the year end, a charge was registered on the shares held by the company of a subsidiary, Alum Care Limited. The charge pledges the shares held in Alum Care Limited as security for the repayment of an intercompany loan with a fellow group company.

 

31
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023
2022
£
£
Aggregate compensation
221,077
219,429

The remuneration of key management personnel of the parent company amounted to £221,077 (2022: £219,429), of which £13,332 (2022: £14,487) was paid by a subsidiary of the company.

Transactions with related parties

During the year the group entered into the following transactions with related parties:

Services provided
Services received
2023
2022
2023
2022
£
£
£
£
Group
Other related parties
183,518
259,231
99,630
31,213

In addition to the above, there was a donation of £nil (2022: £15,000) paid to other related parties during the year, services were provided to related parties by a subsidiary company with an estimated value of £96,000 (2022: £16,000) at no cost and tangible assets were sold to a director for £2,400.

 

On 1 June 2022, as part of a group reorganisation, a subsidiary of the company, Ballinderry LLP transferred its assets and liabilities to The Buckinghamshire Group Limited.  Included in the transfer were the shares held by the limited liability partnership in Alum Care Limited, a fellow group undertaking, totalling £579,716 and loans due to other related parties of £571,000 and £7,716.

 

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
31
Related party transactions
(Continued)
- 39 -

The following amounts were outstanding at the reporting end date:

Amounts due to related parties
2023
2022
£
£
Group
Key management personnel
-
1,500,000
Other related parties
589,709
584,902
Company
Entities over which the company has control, joint control or significant influence
6,060,143
48,057
Key management personnel
-
1,500,000
Other related parties
578,716
-

Included above within other related parties is an amount of £571,000 (2022: £571,000 owed by Ballinderry Limited Liability Partnership, a subsidiary company) owed by the parent company, to the operators of a pension fund of which a director of the parent company is a beneficiary. The loan is repayable at the lender's discretion. Please see note 27 for further details.

 

Included above within other related parties is an amount of £7,716 (2022: £7,716 owed by Ballinderry Limited Liability Partnership, a subsidiary company) owed by the parent company, to a shareholder of the parent company. This loan is interest free and the loan is repayable on demand.

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2023
2022
Balance
Balance
£
£
Group
Key management personnel
1,673,866
1,145,594
Other related parties
5,426
4,960
Company
Entities over which the company has control, joint control or significant influence
-
3,923,893
Key management personnel
1,673,866
1,145,594

In addition to the above, as at 31 May 2023, amounts due to the company by its subsidiaries totalling £nil (2022: £2,167,891) were considered irrecoverable and a provision has been made in the accounts of The Buckinghamshire Group Limited in this respect.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
31
Related party transactions
(Continued)
- 40 -

The following amounts were recognised as (income) an expense in the period in respect of bad and doubtful debts due to and from related parties:

2023
2022
£
£
Group
Other related parties
1,303
-
Company
Entities over which the company has control, joint control or significant influence
(198,542)
-
Entities over which the company has control, joint control or significant influence
173,966
-
(24,576)
-
32
Directors' transactions

Loans from related parties were repaid in the year ended 31 May 2023. With regards to the balance of £1,500,000 as at 31 May 2022, this was secured by way of a fixed and floating debenture over the group's assets which has now been part satisfied. Interest was payable at two different rates: 5% on a balance of £1,033,000 and 10% on the remaining £467,000.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Director's loan account
5.00
1
-
-
1
Director's loan account
5.00
604,929
466,963
41,921
1,113,813
Director's loan account
3.00
142,178
-
3,750
145,928
Director's loan account
5.00
256,308
-
12,771
269,079
Director's loan account
3.00
142,178
-
3,750
145,928
1,145,594
466,963
62,192
1,674,749

The loans are unsecured and repayable on demand.

33
Controlling party

The Company is controlled by the directors by virtue of their 80% shareholding of the issued share capital in the company.

THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 41 -
34
Cash generated from group operations
2023
2022
£
£
Profit (loss) for the year after tax
1,566,209
(653,441)
Adjustments for:
Taxation credited
(384,404)
(15,119)
Finance costs
448,044
381,541
Investment income
(64,930)
(48,463)
Loss on disposal of property, plant and equipment
4,572
1,053
Gain on disposal of business
(1,250,720)
-
Amortisation and impairment of intangible assets
343,756
346,369
Depreciation and impairment of property, plant and equipment
182,955
237,439
Movements in working capital:
(Increase) decrease in inventories
(14,582)
1,743
(Increase) decrease in trade and other receivables
(47,926)
341,722
Increase (decrease) in trade and other payables
616,224
(156,552)
Cash generated from operations
1,399,198
436,292
35
Cash generated from operations - company
2023
2022
£
£
Loss for the year after tax
(115,628)
(2,916,869)
Adjustments for:
Taxation credited
(400,117)
(48)
Finance costs
298,432
352,919
Investment income
(124,728)
(48,432)
Depreciation and impairment of property, plant and equipment
-
251
Movements in working capital:
Decrease in trade and other receivables
3,923,199
2,893,806
Increase in trade and other payables
6,289,016
38,501
Cash generated from operations
9,870,174
320,128
THE BUCKINGHAMSHIRE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 42 -
36
Analysis of changes in net debt - group
1 June 2022
Cash flows
Acquisitions and disposals
31 May 2023
£
£
£
£
Cash at bank and in hand
86,141
221,775
(212,943)
94,973
Bank overdrafts
(148,849)
148,849
-
-
0
(62,708)
370,624
(212,943)
94,973
Borrowings excluding overdrafts
(9,296,276)
4,183,239
-
(5,113,037)
(9,358,984)
4,553,863
(212,943)
(5,018,064)
37
Analysis of changes in net funds (debt) - company
1 June 2022
Cash flows
Acquisitions and disposals
31 May 2023
£
£
£
£
Cash at bank and in hand
-
288,155
(212,943)
75,212
Bank overdrafts
(148,849)
148,849
-
-
0
(148,849)
437,004
(212,943)
75,212
Borrowings excluding overdrafts
(8,726,276)
8,726,276
-
-
(8,875,125)
9,163,280
(212,943)
75,212
2023-05-312022-06-01falseCCH SoftwareCCH Accounts Production 2024.100Mr C BialanMr D ComynMr R CousinsMrs L Comynfalsefalse084054562022-06-012023-05-3108405456bus:Director12022-06-012023-05-3108405456bus:Director22022-06-012023-05-3108405456bus:Director32022-06-012023-05-3108405456bus:CompanySecretary12022-06-012023-05-3108405456bus:RegisteredOffice2022-06-012023-05-3108405456bus:Agent12022-06-012023-05-3108405456bus:Consolidated2023-05-3108405456bus:Consolidated2022-06-012023-05-3108405456bus:Consolidated2021-06-012022-05-31084054562021-06-012022-05-31084054562023-05-3108405456core:Goodwillbus:Consolidated2023-05-3108405456core:Goodwillbus:Consolidated2022-05-3108405456core:OtherResidualIntangibleAssetsbus:Consolidated2023-05-3108405456core:OtherResidualIntangibleAssetsbus:Consolidated2022-05-3108405456core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2023-05-3108405456core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2022-05-3108405456bus:Consolidated2022-05-3108405456core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-05-3108405456core:FurnitureFittingsbus:Consolidated2023-05-3108405456core:MotorVehiclesbus:Consolidated2023-05-3108405456core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-05-3108405456core:FurnitureFittingsbus:Consolidated2022-05-3108405456core:MotorVehiclesbus:Consolidated2022-05-3108405456core:FurnitureFittings2023-05-3108405456core:ShareCapitalbus:Consolidated2023-05-3108405456core:ShareCapitalbus:Consolidated2022-05-3108405456core:OtherReservesSubtotalbus:Consolidated2023-05-3108405456core:OtherReservesSubtotalbus:Consolidated2022-05-3108405456core:OtherMiscellaneousReservebus:Consolidated2023-05-3108405456core:OtherMiscellaneousReservebus:Consolidated2022-05-3108405456core:ShareCapital2023-05-3108405456core:ShareCapital2022-05-3108405456core:OtherReservesSubtotal2023-05-3108405456core:OtherReservesSubtotal2022-05-3108405456core:RetainedEarningsAccumulatedLosses2023-05-3108405456core:ShareCapitalbus:Consolidated2021-05-3108405456core:ConvertibleDebtEquityComponentReservebus:Consolidated2021-05-3108405456core:RetainedEarningsAccumulatedLossesbus:Consolidated2021-05-3108405456core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-05-3108405456core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-05-3108405456core:ShareCapital2021-05-3108405456core:ConvertibleDebtEquityComponentReserve2021-05-3108405456core:RetainedEarningsAccumulatedLosses2021-05-3108405456core:RetainedEarningsAccumulatedLosses2022-05-31084054562022-05-3108405456bus:Consolidated2021-05-31084054562021-05-3108405456core:Goodwill2022-06-012023-05-3108405456core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3108405456core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-06-012023-05-3108405456core:LandBuildingscore:OwnedOrFreeholdAssets2022-06-012023-05-3108405456core:FurnitureFittings2022-06-012023-05-3108405456core:MotorVehicles2022-06-012023-05-3108405456core:UKTaxbus:Consolidated2022-06-012023-05-3108405456core:UKTaxbus:Consolidated2021-06-012022-05-3108405456bus:Consolidated12022-06-012023-05-3108405456bus:Consolidated12021-06-012022-05-3108405456bus:Consolidated22022-06-012023-05-3108405456bus:Consolidated22021-06-012022-05-3108405456bus:Consolidated32022-06-012023-05-3108405456bus:Consolidated32021-06-012022-05-3108405456core:Goodwillbus:Consolidated2022-05-3108405456core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2022-05-3108405456bus:Consolidated2022-05-3108405456core:Goodwillbus:Consolidated2022-06-012023-05-3108405456core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2022-06-012023-05-3108405456core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-05-3108405456core:FurnitureFittingsbus:Consolidated2022-05-3108405456core:MotorVehiclesbus:Consolidated2022-05-3108405456core:FurnitureFittings2022-05-3108405456core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-06-012023-05-3108405456core:FurnitureFittingsbus:Consolidated2022-06-012023-05-3108405456core:MotorVehiclesbus:Consolidated2022-06-012023-05-3108405456core:Subsidiary12022-06-012023-05-3108405456core:Subsidiary22022-06-012023-05-3108405456core:Subsidiary32022-06-012023-05-3108405456core:Subsidiary42022-06-012023-05-3108405456core:Subsidiary112022-06-012023-05-3108405456core:Subsidiary212022-06-012023-05-3108405456core:Subsidiary312022-06-012023-05-3108405456core:Subsidiary412022-06-012023-05-310840545612022-06-012023-05-3108405456core:CurrentFinancialInstruments2023-05-3108405456core:CurrentFinancialInstruments2022-05-3108405456core:CurrentFinancialInstrumentsbus:Consolidated2023-05-3108405456core:CurrentFinancialInstrumentsbus:Consolidated2022-05-3108405456core:Non-currentFinancialInstrumentsbus:Consolidated2023-05-3108405456core:Non-currentFinancialInstrumentsbus:Consolidated2022-05-3108405456core:Non-currentFinancialInstruments2023-05-3108405456core:Non-currentFinancialInstruments2022-05-3108405456core:WithinOneYearbus:Consolidated2023-05-3108405456core:WithinOneYearbus:Consolidated2022-05-3108405456core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3108405456core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3108405456core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-05-3108405456core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2022-05-3108405456core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3108405456core:Non-currentFinancialInstrumentscore:AfterOneYear2022-05-3108405456core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-05-3108405456core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-05-3108405456bus:PrivateLimitedCompanyLtd2022-06-012023-05-3108405456bus:FRS1022022-06-012023-05-3108405456bus:Audited2022-06-012023-05-3108405456bus:ConsolidatedGroupCompanyAccounts2022-06-012023-05-3108405456bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP