IRIS Accounts Production v24.3.0.553 NI034243 director 1.7.23 30.6.24 30.6.24 Medium entities true false true true 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:kWhNI0342432023-06-30NI0342432024-06-30NI0342432023-07-012024-06-30NI0342432022-06-30NI0342432022-07-012023-06-30NI0342432023-06-30NI034243ns15:NorthernIreland2023-07-012024-06-30NI034243ns14:PoundSterling2023-07-012024-06-30NI034243ns10:Director12023-07-012024-06-30NI034243ns10:PrivateLimitedCompanyLtd2023-07-012024-06-30NI034243ns10:MediumEntities2023-07-012024-06-30NI034243ns10:Audited2023-07-012024-06-30NI034243ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-30NI034243ns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-30NI034243ns10:FullAccounts2023-07-012024-06-30NI034243ns10:OrdinaryShareClass12023-07-012024-06-30NI034243ns10:RegisteredOffice2023-07-012024-06-30NI034243ns5:CurrentFinancialInstruments2024-06-30NI034243ns5:CurrentFinancialInstruments2023-06-30NI034243ns5:ShareCapital2024-06-30NI034243ns5:ShareCapital2023-06-30NI034243ns5:RetainedEarningsAccumulatedLosses2024-06-30NI034243ns5:RetainedEarningsAccumulatedLosses2023-06-30NI034243ns5:ShareCapital2022-06-30NI034243ns5:RetainedEarningsAccumulatedLosses2022-06-30NI034243ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-30NI034243ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30NI034243ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-07-012024-06-30NI034243ns5:FurnitureFittings2023-07-012024-06-30NI034243ns5:MotorVehicles2023-07-012024-06-30NI034243ns5:ComputerEquipment2023-07-012024-06-30NI03424312023-07-012024-06-30NI034243ns5:OwnedAssets2023-07-012024-06-30NI034243ns5:OwnedAssets2022-07-012023-06-30NI034243ns10:OrdinaryShareClass12022-07-012023-06-30NI034243ns5:LandBuildings2023-06-30NI034243ns5:FurnitureFittings2023-06-30NI034243ns5:MotorVehicles2023-06-30NI034243ns5:ComputerEquipment2023-06-30NI034243ns5:LandBuildings2023-07-012024-06-30NI034243ns5:LandBuildings2024-06-30NI034243ns5:FurnitureFittings2024-06-30NI034243ns5:MotorVehicles2024-06-30NI034243ns5:ComputerEquipment2024-06-30NI034243ns5:LandBuildings2023-06-30NI034243ns5:FurnitureFittings2023-06-30NI034243ns5:MotorVehicles2023-06-30NI034243ns5:ComputerEquipment2023-06-30NI034243ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-30NI034243ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30NI034243ns5:DeferredTaxation2023-06-30NI034243ns5:DeferredTaxation2024-06-30NI034243ns10:OrdinaryShareClass12024-06-30NI034243ns5:RetainedEarningsAccumulatedLosses2023-06-30
REGISTERED NUMBER: NI034243 (Northern Ireland)















Strategic Report, Report of the Director and

Audited Financial Statements for the Year Ended 30 June 2024

for

The Cornfield Farm Care Centre Limited

The Cornfield Farm Care Centre Limited (Registered number: NI034243)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 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


The Cornfield Farm Care Centre Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J Nutt


REGISTERED OFFICE: 51 Seacoast Road
Limavady
Co. Londonderry
BT49 9DW


REGISTERED NUMBER: NI034243 (Northern Ireland)


SENIOR STATUTORY AUDITOR: James Robinson


AUDITORS: WHR Accountants Ltd
Chartered Certified Accountants
Statutory Auditors
56 English Street
Armagh
Co. Armagh
BT61 7LG


BANKERS: First Trust Bank
32 Main Street
Limavady
BT49 0EU


SOLICITORS: Greer, Hamilton & Gailey
27 High Street
Ballymoney
BT53 6AJ

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Strategic Report
for the Year Ended 30 June 2024

The director presents his strategic report for the year ended 30 June 2024.

Cornfield Farm Care Centre Limited provides general nursing care to the elderly and people who suffer from dementia in a 128 bedded nursing home.It also provides a general and dementia day care service.

REVIEW OF BUSINESS
The Cornfield Farm Care Centre Limited has delivered a strong trading performance for the year ended 30 June 2020 and the business remains in a sound financial position at the year end.

PRINCIPAL RISKS AND UNCERTAINTIES
The company director recognises the key business risks and uncertainties to be competition within the industry ,resident care, pricing and profitabilty. The director continues to work closely with suppliers, residents and staff to carefully manage the company's operations.

FINANCIAL KEY PERFORMANCE INDICATORS
2024 2023
Turnover (£) 6,305,074 5,893,112
Operating Profit (£) 710,297 575,025
Profit Before Tax (£) 710,297 575,025

ON BEHALF OF THE BOARD:





J Nutt - Director


7 November 2024

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Report of the Director
for the Year Ended 30 June 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of nursing the aged and infirm.

DIVIDENDS
A final dividend of £18,000 was declared on 30 June 2024.

DIRECTOR
J Nutt held office during the whole of the period from 1 July 2023 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
The company made charitable donations amounting to £10,339 (2023: £17,840 during the year, principally for the benefit of the local community in which the company operates. No donations for political purposes were made during the year.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, WHR Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J Nutt - Director


7 November 2024

Report of the Independent Auditors to the Members of
The Cornfield Farm Care Centre Limited

Opinion
We have audited the financial statements of The Cornfield Farm Care Centre Limited (the 'company') for the year ended 30 June 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 30 June 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's 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
The Cornfield Farm Care Centre Limited


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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 Company's own assessment of the risk that irregularities may occur either as a result of fraud or error;
-the results of our enquiries of management about their own identification and assessment of the risks of irregularities;
-any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
-the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

In addition to the above, our procedures to respond to risks identified included the following:
-reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
-enquiring of management, directors concerning actual and potential litigation and claims;
-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
-reading minutes of meeting of directors, reviewing internal audit reports and reviewing correspondence with HMRC; and
-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
-assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
-evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment,forgery,collusion,omission or misrepresentation.

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
The Cornfield Farm Care Centre 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.




James Robinson (Senior Statutory Auditor)
for and on behalf of WHR Accountants Ltd
Chartered Certified Accountants
Statutory Auditors
56 English Street
Armagh
Co. Armagh
BT61 7LG

7 November 2024

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 4 6,305,074 5,893,112

Administrative expenses 5,655,343 5,413,617
649,731 479,495

Other operating income 60,272 95,758
OPERATING PROFIT 7 710,003 575,253


Interest payable and similar expenses 8 (295 ) 228
PROFIT BEFORE TAXATION 710,298 575,025

Tax on profit 9 209,159 143,262
PROFIT FOR THE FINANCIAL YEAR 501,139 431,763

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Other Comprehensive Income
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

PROFIT FOR THE YEAR 501,139 431,763


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 501,139 431,763

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 4,185,711 4,270,978

CURRENT ASSETS
Debtors 12 59,577 39,037
Cash at bank 2,137,317 1,490,628
2,196,894 1,529,665
CREDITORS
Amounts falling due within one year 13 501,223 412,451
NET CURRENT ASSETS 1,695,671 1,117,214
TOTAL ASSETS LESS CURRENT LIABILITIES 5,881,382 5,388,192

PROVISIONS FOR LIABILITIES 14 22,008 11,957
NET ASSETS 5,859,374 5,376,235

CAPITAL AND RESERVES
Called up share capital 15 250,000 250,000
Retained earnings 16 5,609,374 5,126,235
SHAREHOLDERS' FUNDS 5,859,374 5,376,235

The financial statements were approved by the director and authorised for issue on 7 November 2024 and were signed by:





J Nutt - Director


The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 250,000 4,712,472 4,962,472

Changes in equity
Dividends - (18,000 ) (18,000 )
Total comprehensive income - 431,763 431,763
Balance at 30 June 2023 250,000 5,126,235 5,376,235

Changes in equity
Dividends - (18,000 ) (18,000 )
Total comprehensive income - 501,139 501,139
Balance at 30 June 2024 250,000 5,609,374 5,859,374

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Cash Flow Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 901,087 862,588
Interest paid 295 (228 )
Tax paid (159,562 ) (141,991 )
Net cash from operating activities 741,820 720,369

Cash flows from investing activities
Purchase of tangible fixed assets (73,198 ) (26,877 )
Sale of tangible fixed assets - 17,473
Net cash from investing activities (73,198 ) (9,404 )

Cash flows from financing activities
Amount introduced by directors 18,000 18,000
Amount withdrawn by directors (21,933 ) (14,622 )
Equity dividends paid (18,000 ) (18,000 )
Net cash from financing activities (21,933 ) (14,622 )

Increase in cash and cash equivalents 646,689 696,343
Cash and cash equivalents at beginning of year 2 1,490,628 794,285

Cash and cash equivalents at end of year 2 2,137,317 1,490,628

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2024

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

30.6.24 30.6.23
£    £   
Profit before taxation 710,298 575,025
Depreciation charges 158,465 224,431
Finance costs (295 ) 228
868,468 799,684
(Increase)/decrease in trade and other debtors (20,540 ) 57,016
Increase in trade and other creditors 53,159 5,888
Cash generated from operations 901,087 862,588

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 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 2,137,317 1,490,628
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,490,628 794,285


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank 1,490,628 646,689 2,137,317
1,490,628 646,689 2,137,317
Total 1,490,628 646,689 2,137,317

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

The Cornfield Farm Care Centre Limited is a private company, limited by shares , registered in Northern Ireland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoiced value of services supplied during the year excluding value added tax and is net of discounts and rebates. Revenue is recognised on provision of the service to the patient according to the terms of the agreed contract.

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%/3% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for the service.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the assets may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.
There are no key assumptions concerning the future and other key soucres of estimation uncertanity at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

5. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 4,181,522 3,868,277
Other pension costs 72,662 59,705
4,254,184 3,927,982

The average number of employees during the year was as follows:
30.6.24 30.6.23

Nursing and ancillary staff 222 221
Administration 8 8
230 229

6. DIRECTORS' EMOLUMENTS
30.6.24 30.6.23
£    £   
Director's remuneration 12,295 12,368

7. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 158,465 225,772

8. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
£    £   
Bank interest - 228
Interest payable (295 ) -
(295 ) 228

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 199,108 159,562

Deferred tax 10,051 (16,300 )
Tax on profit 209,159 143,262

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.24 30.6.23
£    £   
Profit before tax 710,298 575,025
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
20.496%)

177,575

117,857

Effects of:
Depreciation in excess of capital allowances 21,533 41,705
tax purposes
timing differences
previous periods

Deferred tax charge 10,051 (16,300 )
Total tax charge 209,159 143,262

10. DIVIDENDS
30.6.24 30.6.23
£    £   
Ordinary shares of 1 each
Final 18,000 18,000

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 5,959,391 1,584,775 64,320 63,416 7,671,902
Additions 12,664 57,570 - 2,964 73,198
Disposals (1,500 ) (1,000 ) - - (2,500 )
At 30 June 2024 5,970,555 1,641,345 64,320 66,380 7,742,600
DEPRECIATION
At 1 July 2023 1,812,281 1,461,093 64,320 63,230 3,400,924
Charge for year 115,836 42,196 - 433 158,465
Eliminated on disposal (1,500 ) (1,000 ) - - (2,500 )
At 30 June 2024 1,926,617 1,502,289 64,320 63,663 3,556,889
NET BOOK VALUE
At 30 June 2024 4,043,938 139,056 - 2,717 4,185,711
At 30 June 2023 4,147,110 123,682 - 186 4,270,978

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 8,407 12,812
Prepayments and accrued income 20,507 16,078
Accrued Income 30,663 10,147
59,577 39,037

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 85,222 89,303
Tax 199,108 159,562
Social security and other taxes 67,264 69,060
Other creditors 17,743 15,268
Directors' current accounts 406 4,339
Accrued expenses 130,818 74,704
VISA Credit Card 662 215
501,223 412,451

14. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax
Deferred tax 11,957 28,257
Movement 10,051 (16,300 )
22,008 11,957

The Cornfield Farm Care Centre Limited (Registered number: NI034243)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

14. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 11,957
Debited to profit and loss 10,051
Balance at 30 June 2024 22,008

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
250,000 Ordinary 1 250,000 250,000

16. RESERVES
Retained
earnings
£   

At 1 July 2023 5,126,235
Profit for the year 501,139
Dividends (18,000 )
At 30 June 2024 5,609,374

17. RELATED PARTY DISCLOSURES

No key management personnel were paid compensation during the year.

18. ULTIMATE CONTROLLING PARTY

Mr M J Nutt is the controlling party by virtue of his interest in the company's equity capital.