1 April 2023 false No description of principal activity Taxfiler 2024.6.1 true 07130059business:PrivateLimitedCompanyLtd2023-04-012024-03-31 071300592023-03-31 071300592023-04-012024-03-31 07130059business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 07130059business:FilletedAccounts2023-04-012024-03-31 071300592024-03-31 07130059business:Director12023-04-012024-03-31 07130059business:Director22023-04-012024-03-31 07130059business:CompanySecretary12023-04-012024-03-31 07130059business:RegisteredOffice2023-04-012024-03-31 071300592023-03-31 07130059core:WithinOneYear2024-03-31 07130059core:WithinOneYear2023-03-31 07130059core:AfterOneYear2024-03-31 07130059core:AfterOneYear2023-03-31 07130059core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 07130059core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 07130059core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 07130059core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 07130059core:PreviouslyStatedAmount2024-03-31 07130059core:PreviouslyStatedAmount2023-03-31 07130059business:SmallEntities2023-04-012024-03-31 07130059countries:EnglandWales2023-04-012024-03-31 07130059core:LandBuildings2023-04-012024-03-31 07130059core:PlantMachinery2023-04-012024-03-31 07130059core:FurnitureFittings2023-04-012024-03-31 07130059core:ComputerEquipment2023-04-012024-03-31 07130059core:Goodwill2023-03-31 07130059core:Goodwill2024-03-31 07130059core:LandBuildings2023-03-31 07130059core:PlantMachinery2023-03-31 07130059core:FurnitureFittings2023-03-31 07130059core:ComputerEquipment2023-03-31 07130059core:LandBuildings2024-03-31 07130059core:PlantMachinery2024-03-31 07130059core:FurnitureFittings2024-03-31 07130059core:ComputerEquipment2024-03-31 07130059core:PlantMachinerycore:LeasedAssetsHeldAsLessee2024-03-31 07130059core:PlantMachinerycore:LeasedAssetsHeldAsLessee2023-03-31 07130059core:AfterOneYear2023-04-012024-03-31 071300592022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 07130059 (England and Wales)
Silverleaf Care Homes Limited Unaudited accounts for the year ended 31 March 2024
Silverleaf Care Homes Limited Unaudited accounts Contents
Page
- 2 -
Silverleaf Care Homes Limited Company Information for the year ended 31 March 2024
Directors
A J Cain N K Patel
Secretary
A J Cain
Company Number
07130059 (England and Wales)
Registered Office
77 Seabrook Road Hythe CT21 5QW England
- 3 -
Silverleaf Care Homes Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,094,540 
1,100,475 
Current assets
Inventories
2,750 
2,750 
Debtors
102,792 
40,469 
Cash at bank and in hand
100,357 
244,193 
205,899 
287,412 
Creditors: amounts falling due within one year
(327,419)
(332,034)
Net current liabilities
(121,520)
(44,622)
Total assets less current liabilities
973,020 
1,055,853 
Creditors: amounts falling due after more than one year
(856,271)
(1,009,026)
Net assets
116,749 
46,827 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
106,749 
36,827 
Shareholders' funds
116,749 
46,827 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by
A J Cain Director Company Registration No. 07130059
- 4 -
Silverleaf Care Homes Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Silverleaf Care Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 07130059. The registered office is 77 Seabrook Road, Hythe, CT21 5QW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost of building
Plant & machinery
25% reducing balance
Fixtures & fittings
20% straight line
Computer equipment
33.33% straight line
Intangible fixed assets
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income Statement over its useful economic life.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
- 5 -
Silverleaf Care Homes Limited Notes to the Accounts for the year ended 31 March 2024
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. The company is supported by loans from the company's directors totalling £25,000 (2023: £200,000)
- 6 -
Silverleaf Care Homes Limited Notes to the Accounts for the year ended 31 March 2024
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's tangible fixed assets and inventories. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 5) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
945,000 
At 31 March 2024
945,000 
Amortisation
At 1 April 2023
945,000 
At 31 March 2024
945,000 
Net book value
At 31 March 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
1,209,584 
209,709 
3,672 
3,929 
1,426,894 
Additions
- 
15,016 
- 
3,300 
18,316 
At 31 March 2024
1,209,584 
224,725 
3,672 
7,229 
1,445,210 
Depreciation
At 1 April 2023
145,324 
173,494 
3,672 
3,929 
326,419 
Charge for the year
12,181 
11,245 
- 
825 
24,251 
At 31 March 2024
157,505 
184,739 
3,672 
4,754 
350,670 
Net book value
At 31 March 2024
1,052,079 
39,986 
- 
2,475 
1,094,540 
At 31 March 2023
1,064,260 
36,215 
- 
- 
1,100,475 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
- 
2,058 
- 7 -
Silverleaf Care Homes Limited Notes to the Accounts for the year ended 31 March 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
96,856 
30,948 
Accrued income and prepayments
5,936 
9,521 
102,792 
40,469 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
65,505 
65,505 
Obligations under finance leases and hire purchase contracts
- 
825 
Trade creditors
59,226 
21,448 
Amounts owed to group undertakings and other participating interests
25,000 
- 
Taxes and social security
32,665 
33,297 
Other creditors
4,438 
3,913 
Loans from directors
25,000 
100,000 
Accruals
46,661 
38,099 
Deferred income
68,924 
68,947 
327,419 
332,034 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
856,271 
909,026 
Loans from directors
- 
100,000 
856,271 
1,009,026 
The bank borrowings are secured by a legal charge over the freehold property and the book debts present and future owing to the company. Included within creditors falling due after more than one year is an amount of £622,585 (2023: £665,339) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.
9
Average number of employees
During the year the average number of employees was 32 (2023: 35).
- 8 -