REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Staunton On Wye Nursing Home Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Staunton On Wye Nursing Home Ltd |
Staunton On Wye Nursing Home Ltd (Registered number: 09393896) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Staunton On Wye Nursing Home Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suites 1 & 2 |
Marshall Business Centre |
Faraday Road |
Hereford |
Herefordshire |
HR4 9NS |
Staunton On Wye Nursing Home Ltd (Registered number: 09393896) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Staunton On Wye Nursing Home Ltd (Registered number: 09393896) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
Staunton On Wye Nursing Home Ltd (Registered number: 09393896) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Staunton On Wye Nursing Home Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the balance sheet date the company had net liabilities of £237,236 (2023: £204,553). The company's ability to continue trading depends upon the continuing support of the directors and the company's creditors. |
The directors are of the opinion that the company will continue to receive this support and on this basis considers it appropriate to prepare the financial statements on the going concern basis. |
The financial statements do not include any adjustments that would result from the withdrawal of support by the directors and the company's creditors. |
Turnover |
The turnover shown in the profit and loss account represents rentals due for the year. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is not charged on freehold |
land or on assets under construction. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and 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 |
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. |
Staunton On Wye Nursing Home Ltd (Registered number: 09393896) |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Assets |
under |
construction |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Included in assets under construction is freehold land at cost of £241,667 (2023: £241,667) which is not |
depreciated. |
Depreciation is not charged on assets under construction, upon completion this cost will be transferred to |
freehold property and depreciation will be charged on all assets other than freehold land. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Staunton On Wye Nursing Home Ltd (Registered number: 09393896) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 8) |
The company has a loan from Clydesdale Bank PLC trading as Yorkshire Bank. The bank loan is repayable in monthly instalments with the remaining balance being repayable in July 2025. This is due for renewal in July 2025 for a further 10 years. The loan incurs interest at a floating rate of 2% over base rate per annum. The loan is secured by a cross guaranteed mortgage debenture with the bank, incorporating a fixed and floating charge over all of the assets, including a first legal charge over the land and property of the company and an undertaking from The Weir Nursing Home Limited. |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
9. | RELATED PARTY DISCLOSURES |
Included in other creditors at the year end is an amount of £864,183 (2023: £767,525) owed to The Weir Nursing Home Limited, a company under common control. |
Included in other creditors at the year end is an amount of £5,000 (2023: £3,000) owed to Cymbol Electronics Limited, a company under common control. |