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REGISTERED NUMBER: 03580952 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Cariad Care Homes Ltd

Cariad Care Homes Ltd (Registered number: 03580952)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cariad Care Homes Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs C Roberts
Mrs M Hughes
Mrs N W Thomas





SECRETARY: Mrs C Roberts





REGISTERED OFFICE: Adeilad St Davids Building
Lombard Street
Porthmadog
Gwynedd
LL49 9AP





REGISTERED NUMBER: 03580952 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Cariad Care Homes Ltd (Registered number: 03580952)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,201,225 1,361,580
Investment property 6 - 651,952
1,201,225 2,013,532

CURRENT ASSETS
Stocks 7 8,000 8,000
Debtors 8 1,169,844 193,755
Cash at bank and in hand 276,799 289,628
1,454,643 491,383
CREDITORS
Amounts falling due within one year 9 470,952 356,882
NET CURRENT ASSETS 983,691 134,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,184,916

2,148,033

CREDITORS
Amounts falling due after more than one
year

10

(19,067

)

(30,943

)

PROVISIONS FOR LIABILITIES 12 (81,773 ) (68,152 )
NET ASSETS 2,084,076 2,048,938

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 13 111,156 111,156
Retained earnings 1,971,920 1,936,782
SHAREHOLDERS' FUNDS 2,084,076 2,048,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Cariad Care Homes Ltd (Registered number: 03580952)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:




Mrs C Roberts - Director



Mrs N W Thomas - Director


Cariad Care Homes Ltd (Registered number: 03580952)

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

1. STATUTORY INFORMATION

Cariad Care Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill relates to the acquisition of Bodawen by the company during the year to June 2004. This was initially measured at cost. After initial recognition, the goodwill was amortised on a straight-line basis over 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on reducing balance

Fixed assets are stated at their cost prices less accumulated depreciation and less any amounts recognised in respect of impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Cariad Care Homes Ltd (Registered number: 03580952)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 116 (2023 - 119 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 50,000
AMORTISATION
At 1 July 2023
and 30 June 2024 50,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 1,799,141 674,562 2,473,703
Additions - 57,930 57,930
Disposals (131,403 ) (9,332 ) (140,735 )
At 30 June 2024 1,667,738 723,160 2,390,898
DEPRECIATION
At 1 July 2023 675,355 436,768 1,112,123
Charge for year 33,354 58,577 91,931
Eliminated on disposal (7,878 ) (6,503 ) (14,381 )
At 30 June 2024 700,831 488,842 1,189,673
NET BOOK VALUE
At 30 June 2024 966,907 234,318 1,201,225
At 30 June 2023 1,123,786 237,794 1,361,580

Cariad Care Homes Ltd (Registered number: 03580952)

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

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 115,788 - 115,788
Cost 1,551,950 723,160 2,275,110
1,667,738 723,160 2,390,898

If freehold property had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 1,552,450 1,552,450
Aggregate depreciation 529,426 529,426

Plasgwyn was valued on an open market basis on 1 March 2018 by Tom Parry & Co .

Plasgwyn building (including fixtures and fittings) were valued at £950,000 in the year ending 30th June 2020 by Mr Arwel Williams, Tom Parry & Co.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 672,065
Additions 178,346
Disposals (850,411 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 20,113
Eliminated on disposal (20,113 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 651,952

7. STOCKS
30.6.24 30.6.23
£    £   
Stocks 8,000 8,000

Cariad Care Homes Ltd (Registered number: 03580952)

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

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 160,766 166,012
Other debtors 1,009,078 27,743
1,169,844 193,755

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 11,876 11,198
Payments on account 3,086 5,836
Trade creditors 103,984 48,732
Taxation and social security 226,963 150,812
Other creditors 125,043 140,304
470,952 356,882

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 19,067 30,943

11. SECURED DEBTS

The bank holds as security a first mortgage over the freehold property known as Bodawen Nursing Home and the Stables, Bodawen, Tremadog, Porthmadog.This was satisfied during the year on 15 September 2022.

The bank also holds a debenture including a fixed equitable charge over all present and future freehold and leasehold property, first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertaking both present and future given by Cariad Care Homes Ltd.

12. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 81,773 68,152

Deferred
tax
£   
Balance at 1 July 2023 68,152
Provided during year 13,621
Reversing timing differences
Balance at 30 June 2024 81,773

Cariad Care Homes Ltd (Registered number: 03580952)

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

13. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 111,156

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mrs N W Thomas
Balance outstanding at start of year - -
Amounts advanced 69,816 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,816 -

15. RELATED PARTY DISCLOSURES

Related parties are the directors and shareholders in whom the ultimate control of the company is vested. The directors have current accounts with the company which are in credit apart from disclosed above.