Registered number
05491086
The Cedars Care Home (Ashford) Limited
Filleted Accounts
31 March 2024
The Cedars Care Home (Ashford) Limited
Registered number: 05491086
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 727,271 955,906
Current assets
Stocks 2,800 750
Debtors 5 84,946 26,317
Cash at bank and in hand - 300
87,746 27,367
Creditors: amounts falling due within one year 6 (290,972) (285,029)
Net current liabilities (203,226) (257,662)
Total assets less current liabilities 524,045 698,244
Creditors: amounts falling due after more than one year 7 (334,229) (385,739)
Net assets 189,816 312,505
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 188,816 311,505
Shareholders' funds 189,816 312,505
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chander Parkash
Director
Approved by the board on 9 October 2024
The Cedars Care Home (Ashford) Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going concern
At 31 March 2024 the company had net current liabilities of £203,226 [2023 - £257,662]. The directors of the company are confident that all payments and liabilities will be met as and when they arise. The directors are of the opinion that the financial statements should be drawn up on a going concern basis.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 25
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 96,000
At 31 March 2024 96,000
Amortisation
At 1 April 2023 96,000
At 31 March 2024 96,000
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Furniture & Fixtures Total
£ £ £ £
Cost
At 1 April 2023 950,000 32,017 51,798 1,033,815
Additions 5,040 18,588 8,733 32,361
Revaluation (255,040) - - (255,040)
At 31 March 2024 700,000 50,605 60,531 811,136
Depreciation
At 1 April 2023 - 26,111 51,798 77,909
Charge for the year - 1,936 4,020 5,956
At 31 March 2024 - 28,047 55,818 83,865
Net book value
At 31 March 2024 700,000 22,558 4,713 727,271
At 31 March 2023 950,000 5,906 - 955,906
The directors have revalued the Freehold Property at the Balance Sheet date - 31 March 2024 based on the independent professional valuation during the year.
5 Debtors 2024 2023
£ £
Trade debtors 5,510 6,323
Deferred tax asset 69,688 11,624
Other debtors 9,748 8,370
84,946 26,317
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 61,025 99,915
Trade creditors 9,822 11,536
Taxation and social security costs 20,444 8,141
Other creditors 199,681 165,437
290,972 285,029
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 334,229 385,739
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 355,678 397,128
9 Revaluation reserve 2024 2023
£ £
At 1 April 2023 - 101,646
Revaluation in the year - (101,646)
At 31 March 2024 - -
10 Transactions with the directors
At the year end, the company owed the directors £141,784 [2023 - £145,784].
11 Related party transactions 2024 2023
£ £
The Pantiles Care Home Limited
The company is related to The Pantiles Care Home Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
The amount due (to) / from The Pantiles Care Home Limited. - 548
11 Other information
The Cedars Care Home (Ashford) Limited is a private company limited by shares and incorporated in England. Its registered office is:
No 5 Palace View,
2-6 Bridge Road,
East Molesey,
Surrey,
KT8 9HA
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