IRIS Accounts Production v24.3.0.553 03118990 Board of Directors 1.4.23 31.3.24 31.3.24 Medium entities residential care homes. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031189902023-03-31031189902024-03-31031189902023-04-012024-03-31031189902022-03-31031189902022-04-012023-03-31031189902023-03-3103118990ns15:EnglandWales2023-04-012024-03-3103118990ns14:PoundSterling2023-04-012024-03-3103118990ns10:Director12023-04-012024-03-3103118990ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103118990ns10:MediumEntities2023-04-012024-03-3103118990ns10:Audited2023-04-012024-03-3103118990ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3103118990ns10:Medium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3103118990ns10:FullAccounts2023-04-012024-03-310311899012023-04-012024-03-3103118990ns10:OrdinaryShareClass12023-04-012024-03-3103118990ns10:Director22023-04-012024-03-3103118990ns10:CompanySecretary12023-04-012024-03-3103118990ns10:RegisteredOffice2023-04-012024-03-3103118990ns5:CurrentFinancialInstruments2024-03-3103118990ns5:CurrentFinancialInstruments2023-03-3103118990ns5:ShareCapital2024-03-3103118990ns5:ShareCapital2023-03-3103118990ns5:RetainedEarningsAccumulatedLosses2024-03-3103118990ns5:RetainedEarningsAccumulatedLosses2023-03-3103118990ns5:ShareCapital2022-03-3103118990ns5:RetainedEarningsAccumulatedLosses2022-03-3103118990ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3103118990ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3103118990ns5:NetGoodwill2023-04-012024-03-3103118990ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103118990ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-04-012024-03-3103118990ns5:PlantMachinery2023-04-012024-03-3103118990ns5:FurnitureFittings2023-04-012024-03-3103118990ns5:MotorVehicles2023-04-012024-03-3103118990ns5:OwnedAssets2023-04-012024-03-3103118990ns5:OwnedAssets2022-04-012023-03-3103118990ns5:NetGoodwill2022-04-012023-03-310311899012023-04-012024-03-310311899012022-04-012023-03-3103118990ns5:NetGoodwill2023-03-3103118990ns5:NetGoodwill2024-03-3103118990ns5:NetGoodwill2023-03-3103118990ns5:LandBuildings2023-03-3103118990ns5:PlantMachinery2023-03-3103118990ns5:FurnitureFittings2023-03-3103118990ns5:MotorVehicles2023-03-3103118990ns5:LandBuildings2023-04-012024-03-3103118990ns5:LandBuildings2024-03-3103118990ns5:PlantMachinery2024-03-3103118990ns5:FurnitureFittings2024-03-3103118990ns5:MotorVehicles2024-03-3103118990ns5:LandBuildings2023-03-3103118990ns5:PlantMachinery2023-03-3103118990ns5:FurnitureFittings2023-03-3103118990ns5:MotorVehicles2023-03-3103118990ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3103118990ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3103118990ns5:DeferredTaxation2023-03-3103118990ns5:DeferredTaxation2023-04-012024-03-3103118990ns5:DeferredTaxation2024-03-3103118990ns10:OrdinaryShareClass12024-03-3103118990ns5:RetainedEarningsAccumulatedLosses2023-03-31
REGISTERED NUMBER: 03118990 (England and Wales)










Roberts Homes (North Wales) Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024






Roberts Homes (North Wales) Limited (Registered number: 03118990)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Roberts Homes (North Wales) Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs S Roberts
Mr I Roberts





SECRETARY: Mrs S Roberts





REGISTERED OFFICE: Wepre House
Lon Parcwr Business Park
Ruthin
Denbighshire
LL15 1NJ





REGISTERED NUMBER: 03118990 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Strategic Report
for the year ended 31 March 2024

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

REVIEW OF BUSINESS
The company continues to operate 3 care homes.

The directors report a strong financial performance with profitability increasing when compared to the previous year.

Occupation rates are extremely high at all 3 homes (ahead of national averages).

Previously reported staffing issues have been resolved, the company is now registered with the Home Office and is able to directly recruit overseas employees to help increase staffing levels.

The company remains debt free.

The directors are currently exploring the opportunities to expand this business either by way of development of the existing homes or acquisition of additional homes.

The Company ownership was amended just prior to the year end by virtue of a dividend in specie to its current owners.

PRINCIPAL RISKS AND UNCERTAINTIES
Credit Risk

The directors are satisfied that the credit risk is adequately managed, and the level of bad debt is consistent with the nature of the business. Debtors are reviewed on a regular basis to ensure potential bad debts are dealt with in a timely and appropriate manner.

Recoverability of debtor balances has been discussed by the directors and it is their opinion that these balances do not represent a financial risk to the company.


Interest Rate Exposure

Company trading is financed solely by its own cash reserves. The company is not exposed to bank interest rate fluctuations.

Liquidity Risk

The directors are confident that the company holds sufficient cash reserves to service the group's working capital requirements.

Market Risk

The company's care home business operates in a very strong and growing market.

FUTURE DEVELOPMENTS
The Directors continue to focus on operational profitability in each area of business to ensure the company balance sheet remains strong.

ON BEHALF OF THE BOARD:





Mr I Roberts - Director


13 November 2024

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Report of the Directors
for the year ended 31 March 2024

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

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

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

Mrs S Roberts
Mr I Roberts

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr I Roberts - Director


13 November 2024

Report of the Independent Auditors to the Members of
Roberts Homes (North Wales) Limited

Opinion
We have audited the financial statements of Roberts Homes (North Wales) Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Roberts Homes (North Wales) Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We accessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;
- Obtain an understanding of the internal controls that management have in place to prevent and detect fraud;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;
- Identifying and testing journal entries, in particular manual or unusual entries;
- Obtaining third party confirmations of all the companies banking arrangements;
- Performing analytical procedures to identify any unusual or unexpected relationships;
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.
The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagements team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Roberts Homes (North Wales) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeremy Salisbury (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

13 November 2024

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Income Statement
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 7,599,876 6,519,279

Cost of sales (5,901,639 ) (5,225,263 )
GROSS PROFIT 1,698,237 1,294,016

Administrative expenses (946,729 ) (729,530 )
751,508 564,486

Other operating income 2,030,678 48,149
OPERATING PROFIT 4 2,782,186 612,635


Interest payable and similar expenses 5 (777 ) (88,943 )
PROFIT BEFORE TAXATION 2,781,409 523,692

Tax on profit 6 (209,820 ) (60,656 )
PROFIT FOR THE FINANCIAL YEAR 2,571,589 463,036

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Other Comprehensive Income
for the year ended 31 March 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 2,571,589 463,036


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,571,589

463,036

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 16,737 30,287
Tangible assets 8 4,714,794 4,863,834
4,731,531 4,894,121

CURRENT ASSETS
Debtors 9 1,334,708 658,426
Cash at bank 233,444 674,143
1,568,152 1,332,569
CREDITORS
Amounts falling due within one year 10 659,460 3,175,965
NET CURRENT ASSETS/(LIABILITIES) 908,692 (1,843,396 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,640,223

3,050,725

PROVISIONS FOR LIABILITIES 11 96,747 78,838
NET ASSETS 5,543,476 2,971,887

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 5,543,376 2,971,787
SHAREHOLDERS' FUNDS 5,543,476 2,971,887

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mr I Roberts - Director


Roberts Homes (North Wales) Limited (Registered number: 03118990)

Statement of Changes in Equity
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 2,508,751 2,508,851

Changes in equity
Total comprehensive income - 463,036 463,036
Balance at 31 March 2023 100 2,971,787 2,971,887

Changes in equity
Total comprehensive income - 2,571,589 2,571,589
Balance at 31 March 2024 100 5,543,376 5,543,476

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Cash Flow Statement
for the year ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (299,002 ) 2,652,008
Interest paid (777 ) (88,943 )
Tax paid (140,920 ) 117
Net cash from operating activities (440,699 ) 2,563,182

Cash flows from investing activities
Purchase of tangible fixed assets - (4,268 )
Net cash from investing activities - (4,268 )

Cash flows from financing activities
Loan repayments in year - (2,633,125 )
Net cash from financing activities - (2,633,125 )

Decrease in cash and cash equivalents (440,699 ) (74,211 )
Cash and cash equivalents at beginning
of year

2

674,143

748,354

Cash and cash equivalents at end of year 2 233,444 674,143

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Cash Flow Statement
for the year ended 31 March 2024

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

2024 2023
£    £   
Profit before taxation 2,781,409 523,692
Depreciation charges 162,590 170,668
Amounts owed to related party (295,684 ) 1,936,234
Amounts owed to group (2,289,904 ) -
Finance costs 777 88,943
359,188 2,719,537
Increase in trade and other debtors (645,113 ) (112,542 )
(Decrease)/increase in trade and other creditors (13,077 ) 45,013
Cash generated from operations (299,002 ) 2,652,008

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 233,444 674,143
Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 674,143 748,354


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank and in hand 674,143 (440,699 ) 233,444
674,143 (440,699 ) 233,444
Total 674,143 (440,699 ) 233,444

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Roberts Homes (North Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 £.

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

Goodwill
Goodwill representing the excess of consideration for an acquired business compared with the fair value of net assets acquired is capitalised and written off evenly over 10 year as in the opinion of the directors this represents the period over which the goodwill is effective. The useful economic lives are reviewed at the end of each reporting period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost

Financial instruments
The company 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 when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.


Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

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.

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.

Business combinations
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.

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.

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company 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.

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) prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts owed by group undertakings, 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial assets
Other financial assets, including trade investments, 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 company 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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate 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 where the contractual returns, repayment of the principal, or other terms (such as prepayment provisions or term extensions) do not meet the conditions to be measured at amortised cost, are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though 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, and only when, the company's contractual obligations are discharged, cancelled, or they expire.


Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Equity instruments
Equity instruments issued by the company are recorded at the fair value of 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 company.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,286,009 4,556,329
Social security costs 277,557 229,802
Other pension costs 45,855 49,370
5,609,421 4,835,501

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

Nursing home staff 153 171

2024 2023
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 149,040 157,118
Goodwill amortisation 13,550 13,550

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest - 88,917
Interest on overdue tax 777 26
777 88,943

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 191,911 93,331

Deferred tax 17,909 (32,675 )
Tax on profit 209,820 60,656

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 236,000
AMORTISATION
At 1 April 2023 205,713
Amortisation for year 13,550
At 31 March 2024 219,263
NET BOOK VALUE
At 31 March 2024 16,737
At 31 March 2023 30,287

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 5,661,996 133,583 718,922 13,711 6,528,212
DEPRECIATION
At 1 April 2023 1,011,430 133,383 506,674 12,891 1,664,378
Charge for year 111,240 200 36,575 1,025 149,040
At 31 March 2024 1,122,670 133,583 543,249 13,916 1,813,418
NET BOOK VALUE
At 31 March 2024 4,539,326 - 175,673 (205 ) 4,714,794
At 31 March 2023 4,650,566 200 212,248 820 4,863,834

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 321,756 172,092
Amounts owed by group undertakings - 264,515
Amounts owed by related parties 295,684 -
Other debtors 664,538 175,921
Prepayments 52,730 45,898
1,334,708 658,426

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 191,256 177,227
Amounts owed to group undertakings - 2,554,419
Tax 206,332 155,341
Social security and other taxes 49,242 29,818
Other creditors 73,875 54,099
Received in advance - 69,242
Accrued expenses 138,755 135,819
659,460 3,175,965

Roberts Homes (North Wales) Limited (Registered number: 03118990)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Deferred tax 99,587 81,678
Deferred tax asset (2,840 ) (2,840 )
96,747 78,838

Deferred
tax
£   
Balance at 1 April 2023 78,838
Provided during year 17,909
Balance at 31 March 2024 96,747

12. CALLED UP SHARE CAPITAL

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

13. RESERVES
Retained
earnings
£   

At 1 April 2023 2,971,787
Profit for the year 2,571,589
At 31 March 2024 5,543,376

14. RELATED PARTY DISCLOSURES

Roberts Homes Ltd
A company controlled by Mr I Roberts & Mrs S Roberts. As at 31st March 2024 Robert Homes Ltd owed Roberts Homes (North Wales) Ltd £291,334.

Roberts Estates Ltd
A company controlled by Mr I Roberts & Mrs S Roberts. During the year the amount owed to Roberts Estates Ltd of £1,996,429 was fully written off.

Wepre Developments Ltd
A company controlled by Mr I Roberts & Mrs S Roberts. As at 31st March 2024 Wepre Development Ltd owed Roberts Homes (North Wales) Ltd £4,350.

Urbanbuild (Northern) Limited
A company owned and controlled by key employee of Roberts Homes (North Wales) Ltd. As at 31st March 2024 Urbanbuild (Northern) Limited owed Robert Homes (North Wales) Ltd £175,000.

Other related parties

The total amount due from family members as of 31st March 2024 is £489,638.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr I Roberts and Mrs S Roberts.

On 21st March 2024, Robert Homes (North Wales) Limited was divested by Wepre Holdings Limited and acquired jointly by Mr I Roberts & Mrs S Roberts.