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Anson Care Services Limited

Annual Report and Financial Statements
Year Ended 30 April 2024

Registration number: 10712735

 

Anson Care Services Limited

Contents

Company Information

1

Strategic Report

2 to 3

Directors' Report

4

Statement of Directors' Responsibilities

5

Independent Auditor's Report

6 to 8

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Financial Statements

13 to 28

 

Anson Care Services Limited

Company Information

Directors

J R Anson

M A Anson

P E Anson

Registered office

Old Barncoose School
Chapel Terrace
Illogan Highway
Redruth
Cornwall
TR15 3GD

Auditors

PKF Francis Clark
Statutory Auditor
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

 

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 Board on 20 January 2025 and signed on its behalf by:

.........................................
J R Anson
Director

   
     
 

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:

J R Anson

M A Anson

P E Anson

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 Board on 20 January 2025 and signed on its behalf by:

.........................................
J R Anson
Director

   
     
 

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.

......................................
Thomas Roach BSc FCA (Senior Statutory Auditor)
PKF Francis Clark, Statutory Auditor

Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

20 January 2025

 

Anson Care Services Limited

Profit and Loss Account

Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

3

8,865,818

7,891,529

Cost of sales

 

(793,087)

(690,351)

Gross profit

 

8,072,731

7,201,178

Administrative expenses

 

(6,891,833)

(5,919,994)

Other operating income

4

125,586

110,648

Operating profit

5

1,306,484

1,391,832

Other interest receivable and similar income

9

50,434

16,992

Interest payable and similar expenses

10

(420,344)

(294,628)

Profit before tax

 

936,574

1,114,196

Tax on profit

11

(205,269)

(230,628)

Profit for the financial year

 

731,305

883,568

 

Anson Care Services Limited

Balance Sheet

30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

12

116,107

145,123

Tangible assets

13

12,581,893

12,510,476

Investments

14

1

1

 

12,698,001

12,655,600

Current assets

 

Stocks

15

34,700

30,115

Debtors

16

482,268

412,768

Cash at bank and in hand

 

1,706,348

1,402,424

 

2,223,316

1,845,307

Creditors: Amounts falling due within one year

19

(1,572,999)

(1,386,136)

Net current assets

 

650,317

459,171

Total assets less current liabilities

 

13,348,318

13,114,771

Creditors: Amounts falling due after more than one year

19

(4,475,721)

(4,596,348)

Provisions for liabilities

22

(160,778)

(154,909)

Net assets

 

8,711,819

8,363,514

Capital and reserves

 

Called up share capital

4,663,876

4,663,876

Profit and loss account

23

4,047,943

3,699,638

Shareholders' funds

 

8,711,819

8,363,514

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
J R Anson
Director

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

4,663,876

3,699,638

8,363,514

Profit for the year

-

731,305

731,305

Dividends

-

(383,000)

(383,000)

At 30 April 2024

4,663,876

4,047,943

8,711,819

Share capital
£

Profit and loss account
£

Total
£

At 1 May 2022

4,663,876

2,877,670

7,541,546

Profit for the year

-

883,568

883,568

Dividends

-

(61,600)

(61,600)

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

 

731,305

883,568

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

5

209,070

204,785

Loss on disposal of tangible assets

3,969

639

Finance income

9

(50,434)

(16,992)

Finance costs

10

420,344

294,628

Income tax expense

11

205,269

230,628

 

1,519,523

1,597,256

Working capital adjustments

 

Increase in stocks

15

(4,585)

(4,575)

Increase in trade debtors

16

(69,500)

(17,063)

Increase in trade creditors

19

204,097

173,824

Decrease in deferred income, including government grants

 

(27,721)

(38,482)

Cash generated from operations

 

1,621,814

1,710,960

Income taxes paid

11

(207,729)

(200,248)

Net cash flow from operating activities

 

1,414,085

1,510,712

Cash flows from investing activities

 

Interest received

9

50,434

16,992

Acquisition of subsidiaries

14

-

(1)

Acquisitions of tangible assets

(255,440)

(347,967)

Net cash flows from investing activities

 

(205,006)

(330,976)

Cash flows from financing activities

 

Interest paid

10

(420,344)

(294,628)

Repayment of bank borrowing

 

(101,811)

(128,396)

Repayment of other borrowing

 

-

(200,000)

Dividends paid

25

(383,000)

(61,600)

Net cash flows from financing activities

 

(905,155)

(684,624)

Net increase in cash and cash equivalents

 

303,924

495,112

Cash and cash equivalents at 1 May

 

1,402,424

907,312

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Old Barncoose School
Chapel Terrace
Illogan Highway
Redruth
Cornwall
TR15 3GD

These financial statements were authorised for issue by the Board on 20 January 2025.

2

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
The company holds the following financial instruments:

• Short term trade debtors and creditors;
• Cash at bank; and
• Bank borrowings;

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

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).

3

Revenue

The analysis of the company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rendering of services

8,865,818

7,891,529

The analysis of the company's Turnover for the year by market is as follows:

2024
£

2023
£

UK

8,865,818

7,891,529

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
£

2023
£

Government grants

27,721

38,482

Other income

97,865

72,166

125,586

110,648

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

5

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

180,054

175,769

Amortisation expense

29,016

29,016

Loss on disposal of property, plant and equipment

3,969

639

6

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

4,847,752

4,309,835

Social security costs

368,691

313,054

Pension costs, defined contribution scheme

376,853

66,398

5,593,296

4,689,287

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

206

204

206

204

7

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

44,273

36,739

Contributions paid to money purchase schemes

300,000

329

344,273

37,068

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

8

Auditor's remuneration

2024
£

2023
£

Audit of the financial statements

15,344

7,250


 

9

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

50,434

16,992

10

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

371,653

256,315

Interest expense on other finance liabilities

48,691

38,313

420,344

294,628

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

11

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

199,400

223,010

Deferred taxation

Arising from origination and reversal of timing differences

5,869

7,618

Tax expense in the income statement

205,269

230,628

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 25% (2023 - 19.49%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

936,574

1,114,196

Corporation tax at standard rate

234,144

217,268

Tax increase from effect of capital allowances and depreciation

921

-

Effect of expense not deductible in determining taxable profit (tax loss)

(7,574)

9,759

Deferred tax credit relating to changes in tax rates or laws

-

(2,841)

Tax (decrease)/increase from other tax effects

(22,222)

6,442

Total tax charge

205,269

230,628

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

12

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

193,484

193,484

At 30 April 2024

193,484

193,484

Amortisation

At 1 May 2023

48,361

48,361

Amortisation charge

29,016

29,016

At 30 April 2024

77,377

77,377

Carrying amount

At 30 April 2024

116,107

116,107

At 30 April 2023

145,123

145,123

13

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Motor vehicles
 £

Computer equipment
 £

Total
£

Cost or valuation

At 1 May 2023

11,628,414

1,488,304

39,494

81,437

13,237,649

Additions

64,839

187,814

-

2,787

255,440

Disposals

-

(6,055)

-

-

(6,055)

At 30 April 2024

11,693,253

1,670,063

39,494

84,224

13,487,034

Depreciation

At 1 May 2023

-

661,326

25,873

39,974

727,173

Charge for the year

-

162,572

3,395

14,087

180,054

Eliminated on disposal

-

(2,086)

-

-

(2,086)

At 30 April 2024

-

821,812

29,268

54,061

905,141

Carrying amount

At 30 April 2024

11,693,253

848,251

10,226

30,163

12,581,893

At 30 April 2023

11,628,414

826,978

13,621

41,463

12,510,476

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

14

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 May 2023

1

Provision

Carrying amount

At 30 April 2024

1

At 30 April 2023

1

During the year the company acquired 100% of the share capital of Anson Care Limited.

15

Stocks

2024
£

2023
£

Stock

34,700

30,115

16

Debtors

2024
£

2023
£

Trade debtors

261,552

290,277

Other debtors

9,956

3,266

Prepayments

32,349

29,516

Accrued income

178,411

89,709

482,268

412,768

17

Cash and cash equivalents

2024
£

2023
£

Cash on hand

1,174

919

Cash at bank

430,041

415,721

Short-term deposits

1,275,133

985,784

1,706,348

1,402,424

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

18

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)

19

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

20

111,982

113,484

Trade creditors

 

284,219

269,072

Social security and other taxes

 

83,499

82,502

Outstanding defined contribution pension costs

 

13,002

-

Other creditors

 

418,482

317,632

Accruals

 

426,561

352,460

Corporation tax

11

214,732

223,061

Deferred income

 

20,522

27,925

 

1,572,999

1,386,136

Due after one year

 

Loans and borrowings

20

4,418,625

4,518,934

Deferred income

 

57,096

77,414

 

4,475,721

4,596,348

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

20

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

111,982

113,484

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,418,625

4,518,934

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.

21

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

8,267

6,198

Later than one year and not later than five years

20,889

14,430

Later than five years

1,704

-

30,860

20,628

The amount of non-cancellable operating lease payments recognised as an expense during the year was £14,774 (2023 - £3,745).

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

22

Provisions for liabilities

Deferred tax
£

Total
£

At 1 May 2023

154,909

154,909

Increase (decrease) in existing provisions

5,869

5,869

At 30 April 2024

160,778

160,778

The composition of the deferred tax liability is provided in note 11 to the financial statements.

23

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

24

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

3,497,908

3,497,908

3,497,908

3,497,908

Ordinary B shares of £1 each

886,136

886,136

886,136

886,136

Ordinary C shares of £1 each

46,638

46,638

46,638

46,638

Ordinary D shares of £1 each

233,194

233,194

233,194

233,194

4,663,876

4,663,876

4,663,876

4,663,876

All share classes have full voting and equity rights.

 

Anson Care Services Limited

Notes to the Financial Statements

Year Ended 30 April 2024

25

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

26

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 £376,853 (2023 - £66,398). Contributions totalling £13,002 (2023 - £Nil) were payable to the scheme at the end of the year and are included in creditors.

27

Related party transactions

Key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

169,722

152,800

 

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.