Year Ended
Registration number:
Anson Care Services Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Statement of Cash Flows |
|
Notes to the Financial Statements |
Anson Care Services Limited
Company Information
Directors |
J R Anson M A Anson P E Anson |
Registered office |
|
Auditors |
|
Anson Care Services Limited
Strategic Report for the Year Ended 30 April 2024
The directors present their strategic report for the year ended 30 April 2024.
Fair review of the business
The principal activity of the company is that of providing care home facilities, encompassing residential and dementia care facilities as well as domiciliary care facilities.
At Anson Care Services Limited, our aim is to enable our residents or service users to lead as full, dignified and independent a life as possible regardless of age or frailty, We achieve this by ensuring availability of all possible resources, both in the home and the local community, which help to empower each resident to maintain physical, social, emotional and intellectual well-being. This enables the residents, wherever possible, to continue to enjoy the freedoms and choices that are the right of all people regardless of health and social status.
Revenue in the current year increased to £8.866m (2023 - £7.892m) with gross margin staying broadly consistent on the prior year. Administrative costs have increased on the prior year largely due to uplifts in wage costs, directors pensions, and light, heat and power. As a result of these factors operating profit before tax for the year decreased to £939,309 (2023 - £1.114m).
Occupancy across our care homes has remained consistent with the prior year to 91% (2023 - 91%).
Cash flows have continued to be strong, with cash balances increasing to £1,706k (2023 - £1,402k) from the prior year.
Key Performance Indicators
The company's key financial and other performance indicators during the year were as follows:
Financial KPIs |
Unit |
2024 |
2023 |
Turnover |
£000's |
8,866 |
7,892 |
EBITDA |
£000's |
1,522 |
1,597 |
Net assets |
£000's |
8,712 |
8,363 |
Movement in cash |
£000's |
304 |
495 |
Average occupancy |
% |
91 |
91 |
Anson Care Services Limited
Strategic Report for the Year Ended 30 April 2024
Principal risks and uncertainties
The company is exposed to a variety of financial, operational, reputational, regulatory and strategic risks and uncertainties.
Principal risks and uncertainties that the company is exposed to include the following:
- Anson Care Services Limited operates in a highly regulated business environment and failure to comply with regulations could lead to substantial penalties, including the loss of the registration certificates necessary to continue trade;
- Changes in public policy for health and social care and uncertainty as to the future of such policies, particularly given the UK Government's commitment to reducing public deficit spending, could have an adverse impact on Anson Care Services Limited;
- Pressures facing the funding of local authorities, and weak macro-economic conditions impacting on personal disposable income could impact the rates that Anson Care Services Limited is able to achieve;
- Increase in the living wage/national minimum wage will have an impact on margins, particularly as wages are a significant expense to the company;
- Threats arising from cyber crime and related online attacks;
- Pressures facing the wider economy and infrastructure as a result of climate change.
The Directors have plans in place in order to mitigate against the risks that are posed in these areas.
Approved by the
......................................... |
Anson Care Services Limited
Directors' Report for the Year Ended 30 April 2024
The directors present their report and the financial statements for the year ended 30 April 2024.
Directors of the company
The directors who held office during the year were as follows:
Dividends
During the year dividends of £383,000 (2023 - £61,600) were declared and paid.
Financial instruments
Objectives and policies
The company's principal financial instruments comprise of bank balances, trade debtors, trade creditors and bank loans.
The main purpose of these instruments is to raise funds for the company's main operations. The Directors believe that the company is dealing pro-actively with the risks and uncertainties that it faces,
Price risk, credit risk, liquidity risk and cash flow risk
Liquidity risk
The company monitors its working capital requirements and cash flows to ensure that it has sufficient funds available within its operations.
Credit risk
The company is exposed to credit risk, but has established arrangements in place including clear credit control and standing order collection of outstanding monies.
Operational risk
The Directors are aware of the continual change in laws and regulations and the associated compliance costs and plan ahead accordingly.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
......................................... |
Anson Care Services Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are 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 directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
Anson Care Services Limited
Independent Auditor's Report to the Members of Anson Care Services Limited
Opinion
We have audited the financial statements of Anson Care Services Limited (the 'company') for the year ended 30 April 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and 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 April 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 auditor 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 original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Anson Care Services Limited
Independent Auditor's Report to the Members of Anson Care Services Limited
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Directors' Report.
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 directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Auditor 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 an auditor’s report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Anson Care Services Limited
Independent Auditor's Report to the Members of Anson Care Services Limited
Enquiries of management regarding their knowledge of any non compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none.
• Considering the filings made at Companies House, and any omissions thereon of which there were none identified.
• Discussing with management compliance with health and safety legislation.
• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale for significant transactions outside the normal course of business, of which there were none.
• Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates.
We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
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. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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 an auditor’s report 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.
......................................
Lowin House
Tregolls Road
Cornwall
TR1 2NA
Anson Care Services Limited
Profit and Loss Account
Year Ended 30 April 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
|
|
Operating profit |
1,306,484 |
1,391,832 |
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
Profit before tax |
|
|
|
Tax on profit |
( |
( |
|
Profit for the financial year |
|
|
Anson Care Services Limited
Balance Sheet
30 April 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
4,663,876 |
4,663,876 |
|
Profit and loss account |
4,047,943 |
3,699,638 |
|
Shareholders' funds |
8,711,819 |
8,363,514 |
Approved and authorised by the
......................................... |
Company Registration Number: 10712735
Anson Care Services Limited
Statement of Changes in Equity
Year Ended 30 April 2024
Share capital |
Profit and loss account |
Total |
|
At 1 May 2023 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 30 April 2024 |
|
|
|
Share capital |
Profit and loss account |
Total |
|
At 1 May 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 30 April 2023 |
4,663,876 |
3,699,638 |
8,363,514 |
Anson Care Services Limited
Statement of Cash Flows
Year Ended 30 April 2024
Note |
2024 |
2023 |
|
Cash flows from operating activities |
|||
Profit for the year |
|
|
|
Adjustments to cash flows from non-cash items |
|||
Depreciation and amortisation |
|
|
|
Loss on disposal of tangible assets |
|
|
|
Finance income |
( |
( |
|
Finance costs |
|
|
|
Income tax expense |
|
|
|
|
|
||
Working capital adjustments |
|||
Increase in stocks |
( |
( |
|
Increase in trade debtors |
( |
( |
|
Increase in trade creditors |
|
|
|
Decrease in deferred income, including government grants |
( |
( |
|
Cash generated from operations |
|
|
|
Income taxes paid |
( |
( |
|
Net cash flow from operating activities |
|
|
|
Cash flows from investing activities |
|||
Interest received |
|
|
|
Acquisition of subsidiaries |
- |
( |
|
Acquisitions of tangible assets |
( |
( |
|
Net cash flows from investing activities |
( |
( |
|
Cash flows from financing activities |
|||
Interest paid |
( |
( |
|
Repayment of bank borrowing |
( |
( |
|
Repayment of other borrowing |
- |
( |
|
Dividends paid |
( |
( |
|
Net cash flows from financing activities |
( |
( |
|
Net increase in cash and cash equivalents |
|
|
|
Cash and cash equivalents at 1 May |
|
|
|
Cash and cash equivalents at 30 April |
1,706,348 |
1,402,424 |
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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'.
The financial statements are prepared in pounds sterling which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest pound.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Going concern
At the balance sheet date the company had net assets of £8,711,819 (2023 - £8,363,514).
The company manages its cash position on a day to day basis to ensure that sufficient funds are in place to settle its obligations as and when they fall due.
Management have assessed a number of factors in respect of the appropriateness of the going concern assertion. The company has continued to trade throughout the period, and is committed to offering its residents the same high quality care.
Whilst recognising that there can be no certainty, the directors are satisfied that the going concern basis of preparation remains appropriate. In reaching this conclusion, the directors, have made all necessary enquiries and have considered the following matters:
- Included in creditors due in less than one year is £412,448 (2023 - £312,190) which is due to the Directors.
- The company has been able to gain support through government programme. The gained support through sector specific programmes such as the Infection Control Fund (ICF). Total government funding received in the year was £27,721 (2023 - £38,482). The funding in the prior year relates to deferred income received being unwound against the estimated life of assets purchased using the grant funding in previous years.
- Forecasts have been prepared by management which support the ability of the company to continue to meet its obligations as and when they fall due.
After due consideration of the above factors the Directors continue to apply the going concern basis to the preparation of the financial statements, having considered a period of no less than 12 months from the date of signing the financial statements.
Revenue recognition
Turnover comprises the fee income receivable relating to the provision of residential and domicilary care services and other ad hoc charges. This is net of any sales taxes and VAT.
Revenue from the provision of such services is recognised as earned through the provision of contracted services. Other charges are recognised at the point where the good or service is provided.
Rental income, which is disclosed within other operating income, is recognised in the period to which the rental relates.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Government grants
During the year, grant income has been recognised. Grants of a capital nature are recognised within "deferred income" and are to be unwound in line with the useful economic life of the assets to which the income relates.
The company has not directly benefitted from any other forms of government assistance in the current year.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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 taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible fixed assets 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.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and Buildings |
2% straight line |
Fixtures and fittings |
8 - 33% reducing balance |
Motor vehicles |
25% reducing balance |
Computer equipment |
33% reducing balance |
No depreciation has been provided for on freehold property as it is the company's policy to maintain its property in good condition to prolong its useful life. Maintenance is regularly undertaken and systematically charged to the profit and loss account. In the opinion of the directors, any depreciation would not be material to the financial statements.
Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Impairment of fixed assets and goodwill
Fixed assets and goodwill are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade debtors and creditors;
• Cash at bank; and
• Bank borrowings;
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Critical judgement and estimation uncertainty
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key areas where judgement has been applied by management are as follows:
• Tangible fixed assets (note 13)
Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of these assets, and the residual values are assessed annually and may vary due to a number of factors including technological innovation, product life cycles and maintenance programmes. The company continues to invest in its care homes through improvements (recognised in fixed assets) and general maintenance (recognised in profit and loss).
Revenue |
The analysis of the company's Turnover for the year from continuing operations is as follows:
2024 |
2023 |
|
Rendering of services |
|
|
The analysis of the company's Turnover for the year by market is as follows:
2024 |
2023 |
|
UK |
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
2024 |
2023 |
|
Government grants |
|
|
Other income |
|
|
|
|
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Operating profit |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Loss on disposal of property, plant and equipment |
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2024 |
2023 |
|
Administration and support |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
344,273 |
37,068 |
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Auditor's remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Other interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
|
Interest payable and similar expenses |
2024 |
2023 |
|
Interest on bank overdrafts and borrowings |
|
|
Interest expense on other finance liabilities |
|
|
|
|
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the 2023 is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2024 |
2023 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Tax increase from effect of capital allowances and depreciation |
|
- |
Effect of expense not deductible in determining taxable profit (tax loss) |
( |
|
Deferred tax credit relating to changes in tax rates or laws |
- |
( |
Tax (decrease)/increase from other tax effects |
( |
|
Total tax charge |
|
|
The rate of tax in the prior year has been calculated at 19.49% because on 6 April 2023 the corporation tax rate was raised from 19% to 25%.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
At 1 May 2023 |
|
|
At 30 April 2024 |
|
|
Amortisation |
||
At 1 May 2023 |
|
|
Amortisation charge |
|
|
At 30 April 2024 |
|
|
Carrying amount |
||
At 30 April 2024 |
|
|
At 30 April 2023 |
|
|
Tangible assets |
Land and buildings |
Fixtures and fittings |
Motor vehicles |
Computer equipment |
Total |
|
Cost or valuation |
|||||
At 1 May 2023 |
|
|
|
|
|
Additions |
|
|
- |
|
|
Disposals |
- |
( |
- |
- |
( |
At 30 April 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 May 2023 |
- |
|
|
|
|
Charge for the year |
- |
|
|
|
|
Eliminated on disposal |
- |
( |
- |
- |
( |
At 30 April 2024 |
- |
|
|
|
|
Carrying amount |
|||||
At 30 April 2024 |
|
|
|
|
|
At 30 April 2023 |
|
|
|
|
|
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 May 2023 |
|
Provision |
|
Carrying amount |
|
At 30 April 2024 |
|
At 30 April 2023 |
|
During the year the company acquired 100% of the share capital of Anson Care Limited.
Stocks |
2024 |
2023 |
|
Stock |
|
|
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
|
Accrued income |
|
|
|
|
Cash and cash equivalents |
2024 |
2023 |
|
Cash on hand |
|
|
Cash at bank |
|
|
Short-term deposits |
|
|
|
|
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Net debt reconciliation |
At 1 May 2023 |
Cash flow |
Other non cash changes |
At 30 April 2024 |
|
£ |
£ |
£ |
£ |
|
Cash at bank and on hand |
1,402,424 |
303,924 |
- |
1,706,348 |
Bank overdrafts |
- |
- |
- |
- |
Cash and cash equivalents |
1,402,424 |
303,924 |
- |
1,706,348 |
Bank loans |
(4,632,418) |
101,810 |
- |
(4,530,607) |
Net debt |
(3,229,994) |
405,734 |
(2,824,259) |
Creditors |
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Outstanding defined contribution pension costs |
|
- |
|
Other creditors |
|
|
|
Accruals |
|
|
|
Corporation tax |
214,732 |
223,061 |
|
Deferred income |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
|
Deferred income |
|
|
|
|
|
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
|
Non-current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
|
Bank borrowings
During the year the company refinanced their bank debt. The bank borrowings are secured by:
• A debenture dated 25 November 2021 secured against all of the assets of the company;
• A first ranking legal mortgage dated 25 November 2021 secured against four properties owned by the company.
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
Later than five years |
|
- |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Provisions for liabilities |
Deferred tax |
Total |
|
At 1 May 2023 |
|
|
Increase (decrease) in existing provisions |
|
|
At 30 April 2024 |
|
|
|
The composition of the deferred tax liability is provided in note 11 to the financial statements.
Reserves |
The company has the following reserves as shown on the balance sheet:
Called up share capital
This reserve records the nominal value of shares issued
Profit and loss account
This reserve records the cumulative profits and losses made by the company
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
3,497,908 |
|
3,497,908 |
|
|
886,136 |
|
886,136 |
|
|
46,638 |
|
46,638 |
|
|
233,194 |
|
233,194 |
|
|
|
|
All share classes have full voting and equity rights.
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Dividends |
Interim dividends paid
2024 |
2023 |
|||
Interim dividend of £0.071 (2023 - £Nil) per each Ordinary A |
250,000 |
- |
||
Interim dividend of £0.14 (2023 - £0.065) per each Ordinary B |
124,000 |
57,600 |
||
Interim dividend of £0.193 (2023 - £0.085) per each Ordinary C |
9,000 |
4,000 |
||
383,000 |
61,600 |
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Related party transactions |
Key management compensation
2024 |
2023 |
|
Salaries and other short term employee benefits |
|
|
Anson Care Services Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Transactions with Directors
J R & M A Anson
During the year J R & M A Anson have had a loan due from the company. The loan is unsecured and repayable upon demand. Interest on this loan accrues at 12%.
During the year J R & M A Anson have advanced £966,923 (2023 - £156,988) to the company, and have been repaid £1,106,466 (2023 - £237,865). Dividends of £250,000 (2023 - £Nil) have been declared or paid in the year.
At the balance sheet date J R & M A Anson were due £411,360 (2023 - £302,670) from Anson Care Services Limited.
P E Anson
During the year P E Anson has had a loan due from the company. This loan is unsecured and repayable upon demand. Interest on this loan accrues at 12%.
During the year P E Anson advanced £1,167,937 (2023 - £29,684) to the company and was repaid £1,193,652 (2023 - £34,549). Dividends of £62,000 (2023 - £28,800) have been declared and paid.
At the balance sheet date P E Anson was due £205 (2023 - £9,520) due from Anson Care Services Limited) from Anson Care Services Limited.