|
|
|
|
Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
5 |
Independent auditor's report to the members |
7 |
Consolidated income statement |
11 |
Consolidated statement of income and retained earnings |
12 |
Company statement of income and retained earnings |
13 |
Consolidated statement of financial position |
14 |
Company statement of financial position |
15 |
Consolidated statement of cash flows |
16 |
Notes to the financial statements |
17 |
|
Officers and Professional Advisers |
The board of directors |
|
|
|
Company secretary |
|
Registered office |
|
|
|
|
|
|
|
|
|
|
|
Auditor |
|
Chartered accountants & statutory auditor |
|
Regent House |
|
Bath Avenue |
|
Wolverhampton |
|
West Midlands |
|
WV1 4EG |
|
|
Strategic Report |
|
Director |
|
Directors' Report |
|
|
|
|
|
Director |
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
Regent House |
Bath Avenue |
Wolverhampton |
West Midlands |
WV1 4EG |
|
Consolidated Income Statement |
2024 |
2023 |
|
Note |
£ |
£ |
Turnover |
4 |
|
|
Cost of sales |
(
|
(
|
------------- |
------------- |
|
Gross profit |
|
|
Administrative expenses |
(
|
(
|
|
Other operating income |
5 |
|
– |
------------ |
------------ |
||
Operating profit |
6 |
|
|
Other interest receivable and similar income |
9 |
|
|
Interest payable and similar expenses |
10 |
(
|
(
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
11 |
(
|
(
|
------------ |
------------ |
||
Profit for the financial year |
|
|
|
------------ |
------------ |
||
|
Consolidated Statement of Income and Retained Earnings |
2024 |
2023 |
|
Note |
£ |
£ |
Profit for the financial year and total comprehensive income |
|
|
|
Dividends paid and payable |
12 |
(
|
(
|
Retained earnings at the start of the year |
|
|
------------- |
------------- |
|
Retained earnings at the end of the year |
|
|
------------- |
------------- |
|
|
Company Statement of Income and Retained Earnings |
2024 |
2023 |
|
Note |
£ |
£ |
Profit for the financial year and total comprehensive income |
|
|
|
Dividends paid and payable |
12 |
(
|
(
|
Retained earnings at the start of the year |
|
|
------------ |
------------ |
|
Retained earnings at the end of the year |
|
|
------------ |
------------ |
|
|
Consolidated Statement of Financial Position |
2024 |
2023 |
||
Note |
£ |
£ |
|
Tangible assets |
13 |
|
|
|
Debtors |
15 |
|
|
|
Cash at bank and in hand |
|
|
||
------------- |
------------- |
|||
|
|
|||
Creditors: amounts falling due within one year |
16 |
(
|
(
|
|
------------- |
------------- |
|||
Net current assets |
|
|
||
------------- |
------------- |
|||
Total assets less current liabilities |
|
|
||
Creditors: amounts falling due after more than one year |
17 |
(
|
(
|
|
Taxation including deferred tax |
19 |
(
|
(
|
|
------------- |
------------- |
|||
Net assets |
|
|
||
------------- |
------------- |
|||
Called up share capital |
23 |
|
|
|
Merger relief reserve |
24 |
|
|
|
Profit and loss account |
24 |
|
|
|
------------- |
------------- |
|||
Shareholders' funds |
|
|
||
------------- |
------------- |
|||
|
Director |
|
Company Statement of Financial Position |
2024 |
2023 |
||
Note |
£ |
£ |
|
Tangible assets |
13 |
|
|
|
Investments |
14 |
|
|
|
------------- |
------------- |
|||
|
|
|||
Debtors |
15 |
|
|
|
Cash at bank and in hand |
|
|
||
------------- |
------------- |
|||
|
|
|||
Creditors: amounts falling due within one year |
16 |
(
|
(
|
|
------------- |
------------- |
|||
Net current assets |
|
|
||
------------- |
------------- |
|||
Total assets less current liabilities |
|
|
||
Creditors: amounts falling due after more than one year |
17 |
(
|
(
|
|
Taxation including deferred tax |
19 |
(
|
(
|
|
------------- |
------------- |
|||
Net assets |
|
|
||
------------- |
------------- |
|||
Called up share capital |
23 |
|
|
|
Merger relief reserve |
24 |
|
|
|
Profit and loss account |
24 |
|
|
|
------------ |
------------ |
|||
Shareholders' funds |
|
|
||
------------ |
------------ |
|||
|
Director |
|
Consolidated Statement of Cash Flows |
2024 |
2023 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
– |
(
|
Tax on (loss)/profit |
|
|
Accrued expenses |
|
|
Changes in: |
||
Stocks |
– |
|
Trade and other debtors |
|
(
|
Trade and other creditors |
|
|
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
Tax paid |
(
|
(
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
– |
|
------------- |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------- |
------------ |
|
Proceeds from borrowings |
|
(
|
Payments of finance lease liabilities |
(
|
|
Dividends paid |
(
|
(
|
------------- |
------------ |
|
Net cash from/(used in) financing activities |
|
(
|
------------- |
------------ |
|
Net increase/(decrease) in cash and cash equivalents |
|
(
|
Cash and cash equivalents at beginning of year |
8,311,464 |
10,818,406 |
------------ |
------------- |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------- |
|
|
Notes to the Financial Statements |
Freehold buildings |
- |
|
|
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
Equipment |
- |
|
|
2024 |
2023 |
|
£ |
£ |
|
Management of residential care homes |
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Other operating income |
|
– |
--------- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
– |
(
|
Impairment of trade debtors |
4,941 |
30,000 |
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
No. |
No. |
|
Administrative staff |
|
– |
Care team members |
|
|
Management and administration |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on loans and receivables |
43,917 |
7,836 |
Interest on cash and cash equivalents |
|
– |
Other interest receivable and similar income |
|
|
--------- |
------- |
|
|
|
|
--------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Other interest payable and similar charges |
|
|
------------ |
--------- |
|
|
|
|
------------ |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax income |
|
|
Adjustments in respect of prior periods |
(
|
(
|
--------- |
--------- |
|
Total current tax |
|
|
--------- |
--------- |
|
Origination and reversal of timing differences |
|
|
--------- |
------------ |
|
Tax on (loss)/profit |
|
|
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
(184) |
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
(
|
Rounding on tax charge |
306 |
42 |
Deferred tax asset not provided for |
(
|
(
|
Sundry adjustments |
|
|
Change in tax rate |
– |
|
------------ |
------------ |
|
Tax on (loss)/profit |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Dividends on equity shares relating to line 1 in the shares issued page of cdb |
|
– |
--------- |
---- |
|
Group |
Freehold land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Apr 2023 |
|
|
|
|
|
|
Additions |
|
|
|
– |
|
|
------------- |
------------ |
------------ |
-------- |
--------- |
------------- |
|
At 31 Mar 2024 |
|
|
|
|
|
|
------------- |
------------ |
------------ |
-------- |
--------- |
------------- |
|
Depreciation |
||||||
At 1 Apr 2023 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
------------- |
------------ |
------------ |
-------- |
--------- |
------------- |
|
At 31 Mar 2024 |
|
|
|
|
|
|
------------- |
------------ |
------------ |
-------- |
--------- |
------------- |
|
Carrying amount |
||||||
At 31 Mar 2024 |
|
|
|
|
|
|
------------- |
------------ |
------------ |
-------- |
--------- |
------------- |
|
At 31 Mar 2023 |
|
|
|
|
|
|
------------- |
------------ |
------------ |
-------- |
--------- |
------------- |
|
Company |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2023 |
|
|
|
|
Additions |
– |
– |
|
|
-------- |
-------- |
-------- |
--------- |
|
At 31 March 2024 |
|
|
|
|
-------- |
-------- |
-------- |
--------- |
|
Depreciation |
||||
At 1 April 2023 |
|
|
|
|
Charge for the year |
|
|
|
|
-------- |
-------- |
-------- |
--------- |
|
At 31 March 2024 |
|
|
|
|
-------- |
-------- |
-------- |
--------- |
|
Carrying amount |
||||
At 31 March 2024 |
|
|
|
|
-------- |
-------- |
-------- |
--------- |
|
At 31 March 2023 |
|
|
|
|
-------- |
-------- |
-------- |
--------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 April 2023 and 31 March 2024 |
|
------------- |
|
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
------------- |
|
Carrying amount |
|
At 1 April 2023 and 31 March 2024 |
|
------------- |
|
At 31 March 2023 |
|
------------- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
|
|
Corporation tax repayable |
– |
– |
|
|
Directors loan account |
– |
|
– |
|
Other debtors |
|
|
|
|
------------ |
------------ |
------------- |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------- |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
|
– |
Obligations under finance leases and hire purchase contracts |
|
|
|
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
|
|
Later than 1 year and not later than 5 years |
– |
|
– |
|
-------- |
-------- |
-------- |
-------- |
|
|
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
Group |
Deferred tax (note 20) |
£ |
|
At 1 April 2023 |
|
Additions |
|
--------- |
|
At 31 March 2024 |
|
--------- |
|
Company |
Deferred tax (note 20) |
£ |
|
At 1 April 2023 |
|
Additions |
|
-------- |
|
At 31 March 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 19) |
|
|
|
|
--------- |
--------- |
-------- |
------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
Deferred tax - other timing differences |
(
|
(
|
(
|
(
|
--------- |
--------- |
-------- |
------- |
|
852,500 |
509,600 |
11,100 |
5,900 |
|
--------- |
--------- |
-------- |
------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
|
At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
1,135,960 |
|
Debt due within one year |
(1,006,348) |
– |
(1,006,348) |
Debt due after one year |
(13,535,237) |
(5,493,652) |
(19,028,889) |
------------- |
------------ |
------------- |
|
(
|
(
|
(
|
|
------------- |
------------ |
------------- |
|