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Registered number: 03451803









NEWLYN COURT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
NEWLYN COURT LIMITED
REGISTERED NUMBER: 03451803

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
450,508
133,328

Current assets
  

Stocks
  
2,488
-

Debtors: amounts falling due within one year
 5 
277,987
336,910

Cash at bank and in hand
 6 
135,371
72,028

  
415,846
408,938

Creditors: amounts falling due within one year
 7 
(1,371,128)
(765,031)

Net current liabilities
  
 
 
(955,282)
 
 
(356,093)

Total assets less current liabilities
  
(504,774)
(222,765)

Provisions for liabilities
  

Deferred tax
 8 
(110,102)
-

  
 
 
(110,102)
 
 
-

Net liabilities
  
(614,876)
(222,765)


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
(614,878)
(222,767)

  
(614,876)
(222,765)


Page 1

 
NEWLYN COURT LIMITED
REGISTERED NUMBER: 03451803
    
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 comprehenisve 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 9 form part of these financial statements.

Page 2

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Newlyn Court Limited is a company limited by shares, incorporated in England and Wales. The address of registered office is 23 Buckingham Gate, London, England, SW1E 6LB.
The company specialises in provision of nursing care facilities in a nursing home for the elderly.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting In preparing the financial statements.
Details of the Company's business activities and recent trading performance are set out in the business review. 
The Company is required to make an assessment of its ability to continue as a going concern when preparing its financial statements. In making this assessment, management has considered the situation for the next financial year which take into account of reasonable changes in trading performance as far as possible in uncertain economic conditions.
With the investment phase in the physical configuration of operations of the business completed and the company moving to break-even, the directors are confident in the Company's ability to be financially viable independent of group support and, after making the necessary enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next financial year. Accordingly, they continue to adopt a going concern basis in preparing these financial statements.
The Company maintains sufficient liquidity to meet its working capital requirements.

 
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.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Page 3

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 profit or loss 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.

 
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.

Page 4

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Fixtures and fittings
-
20%
Office equipment
-
20%

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 comprehenisve income.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 81 (period ended 31 March 2023 - 72).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
15,878
118,912
3,493
138,283


Additions
9,763
362,819
5,104
377,686



At 31 March 2024

25,641
481,731
8,597
515,969



Depreciation


At 1 April 2023
-
4,955
-
4,955


Charge for the year
-
60,506
-
60,506



At 31 March 2024

-
65,461
-
65,461



Net book value



At 31 March 2024
25,641
416,270
8,597
450,508



At 31 March 2023
15,878
113,957
3,493
133,328

Page 6

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
217,423
134,273

Other debtors
947
152,428

Prepayments and accrued income
59,617
36,013

Deferred taxation (note 9)
-
14,196

277,987
336,910



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
135,371
72,028

135,371
72,028



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
104,522
104,824

Amounts owed to group undertakings
964,889
509,544

Other taxation and social security
35,418
33,752

Other creditors
151,094
44,246

Accruals and deferred income
115,205
72,665

1,371,128
765,031


Page 7

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024


£






At beginning of year
14,196


Charged to profit or loss
(124,298)



At end of year
(110,102)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(110,102)
14,196

(110,102)
14,196


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2  Ordinary shares of £1 each
2
2



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £39,026 (period ended 31 March 2023 - £27,322). Contributions totaling £19,100 (2023 - £24,633) were outstanding as at period end.


11.


Related party transactions

The company has taken advantage of the exemption from reporting related party transactions with wholly owned members of the group, as allowed by FRS 102 section 33.

Page 8

 
NEWLYN COURT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Ultimate parent and controlling party

The immediate parent company is Henry Newton Care Limited, a company registered in England and Wales. 
 
The ultimate controlling company for which consolidated accounts are prepared is C&C Alpha Group Limited, a company registered in England and Wales. The ultimate controlling party is Harberry Investments Holdings Limited ,a company incorporated In the British Virgin Islands.


13.


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 9