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Registered number: 03152687









HENRY NEWTON CARE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HENRY NEWTON CARE LIMITED
REGISTERED NUMBER: 03152687

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
351,734
176,788

Investments
 6 
2
2

Investment property
 7 
4,528,148
4,528,148

  
4,879,884
4,704,938

Current assets
  

Debtors: amounts falling due within one year
 8 
316,816
509,543

Cash at bank and in hand
 9 
391
487

  
317,207
510,030

Creditors: amounts falling due within one year
 10 
(737,436)
(737,436)

Net current liabilities
  
 
 
(420,229)
 
 
(227,406)

Total assets less current liabilities
  
4,459,655
4,477,532

Provisions for liabilities
  

Deferred tax
 11 
(470,404)
(470,404)

Net assets
  
3,989,251
4,007,128


Capital and reserves
  

Called up share capital 
 12 
402
402

Profit and loss account
  
3,988,849
4,006,726

  
3,989,251
4,007,128


Page 1

 
HENRY NEWTON CARE LIMITED
REGISTERED NUMBER: 03152687
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2024.




M I Tomalin
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Henry Newton Care Limited is a company limited by shares, incorporated in England and Wales. The registered office is 23 Buckingham Gate, London, England, SW1E 6LB.
The company specialises in ownership and management of a nursing home for the elderly and mentally ill.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, despite the Company reporting net current liabilities of £420,229 (2023 - £227,406). Included within other creditors are loans totalling £735,633 (2023 - £735,633) from related parties who have confirmed that they will not seek repayment of the loans until such time as the company has sufficient working capital. On this basis the directors consider it to be appropriate to prepare the financial statements on a going concern basis.

 
2.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the  normal course of business. 

  
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

  
2.5

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings
-
No depreciation
Plant and machinery
-
25% straight line
Fixtures, fittings and equipment
-
25% on cost and 20% on  cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Page 4

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimate and assumption about the carrying amount of assets and liabilities that are not readily apparent from other source. The estimates anda ssociated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical Judgements
The following judgements have had the most significant effect on amounts recognised in the financial statements.
Asset Impairment
The company has considered the need for recognising any potential impairment in regards to freehold property. When assessing impairment of such balances, management consider factors including the current economic climate as presented by the ongoing inflationary pressures for pay and overhead expenses. The company has considered the relevant factors and have decided that no impairment needs to be recognised in the current year.
Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advances, future investments, economic utilisation and the physical condition of assets.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (period ended 31 March 2023 - 2).

Page 6

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Improvements and property
Plant and machinery
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
178,302
90,624
215,497
484,423


Additions
192,727
-
-
192,727



At 31 March 2024

371,029
90,624
215,497
677,150



Depreciation


At 1 April 2023
1,514
90,624
215,497
307,635


Charge for the year
17,781
-
-
17,781



At 31 March 2024

19,295
90,624
215,497
325,416



Net book value



At 31 March 2024
351,734
-
-
351,734



At 31 March 2023
176,788
-
-
176,788


6.


Fixed asset investments





Shares in group undertakings

£



Cost or valuation


At 1 April 2023
2



At 31 March 2024
2




Page 7

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
4,528,148



At 31 March 2024
4,528,148

The investment property is carried at fair value based on an independent valuation performed several years ago. Management has conducted an internal review of market conditions and concluded that the carrying value remains appropriate, with no indicators of impairment as of 31 March 2024. 







8.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
316,816
509,543

316,816
509,543



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
391
487

391
487


Page 8

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
735,633
735,633

Corporation tax
251
251

Other creditors
74
74

Accruals and deferred income
1,478
1,478

737,436
737,436



11.


Deferred taxation




2024


£






At beginning of year
470,404



At end of year
470,404

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
470,404
470,404

470,404
470,404

Page 9

 
HENRY NEWTON CARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



400 Ordinary A shares of £1 each
400
400
1 Ordinary B share of £1
1
1
1 Ordinary C share of £1
1
1

402

402



13.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK not to disclose related party transactions with other wholly owned companies within the group.


14.


Controlling party

The immediate parent undertaking is C&C Alpha Healthcare Group Limited. 
The smallest and largest group in which the consolidated accounts is prepared in which this company is included is C&C Alpha Group Limited. The consolidated accounts can be obtained from the company's registered address at 23 Buckingham Gate, London, SW1E 6LB. 
 
The ultimate controlling party is Harberry Investments Holdings Limited incorporated in the British Virgin Islands.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 20 November 2024 by Mark Hancock (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 10