IRIS Accounts Production v24.3.2.46 11686501 Board of Directors 1.5.23 30.4.24 30.4.24 Medium entities operation of a nursing home. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116865012023-04-30116865012024-04-30116865012023-05-012024-04-30116865012022-04-30116865012022-05-012023-04-30116865012023-04-3011686501ns15:EnglandWales2023-05-012024-04-3011686501ns14:PoundSterling2023-05-012024-04-3011686501ns10:Director12023-05-012024-04-3011686501ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3011686501ns10:MediumEntities2023-05-012024-04-3011686501ns10:Audited2023-05-012024-04-3011686501ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3011686501ns10:Medium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3011686501ns10:FullAccounts2023-05-012024-04-3011686501ns10:OrdinaryShareClass12023-05-012024-04-3011686501ns10:Director22023-05-012024-04-3011686501ns10:Director32023-05-012024-04-3011686501ns10:Director42023-05-012024-04-3011686501ns5:RetainedEarningsAccumulatedLosses2023-04-3011686501ns5:RetainedEarningsAccumulatedLosses2022-04-3011686501ns5:RetainedEarningsAccumulatedLosses2024-04-3011686501ns5:RetainedEarningsAccumulatedLosses2023-04-3011686501ns5:CurrentFinancialInstruments2024-04-3011686501ns5:CurrentFinancialInstruments2023-04-3011686501ns5:Non-currentFinancialInstruments2024-04-3011686501ns5:Non-currentFinancialInstruments2023-04-3011686501ns5:ShareCapital2024-04-3011686501ns5:ShareCapital2023-04-301168650162023-05-012024-04-301168650162022-05-012023-04-301168650112023-05-012024-04-3011686501ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-05-012024-04-3011686501ns5:FurnitureFittings2023-05-012024-04-3011686501ns10:HighestPaidDirector2023-05-012024-04-3011686501ns5:OwnedAssets2023-05-012024-04-3011686501ns5:OwnedAssets2022-05-012023-04-3011686501ns5:LandBuildings2023-04-3011686501ns5:FurnitureFittings2023-04-3011686501ns5:LandBuildings2023-05-012024-04-3011686501ns5:LandBuildings2024-04-3011686501ns5:FurnitureFittings2024-04-3011686501ns5:LandBuildings2023-04-3011686501ns5:FurnitureFittings2023-04-3011686501ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3011686501ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3011686501ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-3011686501ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-3011686501ns5:WithinOneYear2024-04-3011686501ns5:WithinOneYear2023-04-3011686501ns5:BetweenOneFiveYears2024-04-3011686501ns5:BetweenOneFiveYears2023-04-3011686501ns5:MoreThanFiveYears2024-04-3011686501ns5:MoreThanFiveYears2023-04-3011686501ns5:AllPeriods2024-04-3011686501ns5:AllPeriods2023-04-3011686501ns5:Secured2024-04-3011686501ns5:Secured2023-04-3011686501ns5:AcceleratedTaxDepreciationDeferredTax2024-04-3011686501ns5:AcceleratedTaxDepreciationDeferredTax2023-04-3011686501ns5:DeferredTaxation2023-04-3011686501ns5:DeferredTaxation2023-05-012024-04-3011686501ns5:DeferredTaxation2024-04-3011686501ns10:OrdinaryShareClass12024-04-301168650112023-05-012024-04-30
REGISTERED NUMBER: 11686501 (England and Wales)










STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ST ALBANS CARE LIMITED

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Strategic Report 1

Report of the Directors 2

Report of the Independent Auditors 3

Statement of Income and Retained Earnings 5

Balance Sheet 6

Cash Flow Statement 7

Notes to the Financial Statements 8


ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
Alban Manor Nursing Home provides accommodation for up to 80 residents in a purpose-built facility in St Albans. The business continued to mature, and turnover increased this year by 18% to £6.19m. The gross profit was £3.66m at a margin of 59% and the net profit after tax was £1.54m. Both were up from the prior year.

PRINCIPAL RISKS AND UNCERTAINTIES
The anticipated challenges for the future include the higher interest from the renewal of the loan facility in May 2024, planned increases to employers national insurance contributions, and the national living wage rising by 6.7% to £12.21 in 2025.

FINANCIAL RISK MANAGEMENT
The company renewed its bank loan facility in May 2024 with a drawdown of £7.31m at an interest rate of 2.15% over the base rate, which is currently 4.75%. The directors maintain cash flow forecasts to ensure the company has sufficient funds to pay both the capital and interest. The base rate is on a downward trend, but the directors will monitor the rates for any unforeseen events that may result in future increases.

ON BEHALF OF THE BOARD:





R K Greywall - Director


20 January 2025

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their report with the financial statements of the company for the year ended 30 April 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

S S Grewal
S S Grewal
P K Grewal
R K Greywall

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen, in accordance with the Companies Act 2006 s414C(11), to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





R K Greywall - Director


20 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ST ALBANS CARE LIMITED


Opinion
We have audited the financial statements of St Albans Care Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement 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 Auditors' 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 directors' 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 financial statements are 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters 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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the 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 or the Report of the Directors.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ST ALBANS CARE LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we considered the risk of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements, such as the Companies Act 2006. We determined that the principal risk of non-compliance with laws and regulations related to compliance with the health and social care regulations that affect the operations of the company. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management override, revenue recognition and accounting estimates. Audit procedures performed included:

- Review of correspondence and reports from the regulatory body;
- Enquiring of management whether there were any instances of non-compliance with laws and regulation;
- Review of legal expenses for evidence of fees relating to non-compliance;
- Substantive testing on revenue cut off to confirm income earned was recognised in the correct period;
- Challenging assumptions and judgements made by management in determining significant accounting
estimates; and
- Reviewing journal entries, non-sales bank receipts and non-purchase bank payments.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, 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 by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.




Colin Young BA FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting
Statutory Auditor
15 West Street
Brighton
East Sussex
BN1 2RL

22 January 2025

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   

TURNOVER 3 6,191,727 5,249,201

Cost of sales 2,536,397 2,299,898
GROSS PROFIT 3,655,330 2,949,303

Administrative expenses 1,379,711 1,127,108
2,275,619 1,822,195

Other operating income 4 80,350 54,900
OPERATING PROFIT 6 2,355,969 1,877,095

Interest receivable and similar income 76,386 15,594
2,432,355 1,892,689

Interest payable and similar expenses 7 310,871 214,269
PROFIT BEFORE TAXATION 2,121,484 1,678,420

Tax on profit 8 578,525 366,165
PROFIT FOR THE FINANCIAL YEAR 1,542,959 1,312,255

Retained earnings at beginning of year 2,858,913 1,546,658

RETAINED EARNINGS AT END OF YEAR 4,401,872 2,858,913

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 9,211,931 9,364,128
Investment property 10 745,764 745,764
9,957,695 10,109,892

CURRENT ASSETS
Debtors 11 189,976 287,388
Cash at bank and in hand 2,072,935 2,083,517
2,262,911 2,370,905
CREDITORS
Amounts falling due within one year 12 7,719,025 5,255,295
NET CURRENT LIABILITIES (5,456,114 ) (2,884,390 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,501,581

7,225,502

CREDITORS
Amounts falling due after more than one
year

13

-

(4,278,206

)

PROVISIONS FOR LIABILITIES 17 (99,703 ) (88,377 )
NET ASSETS 4,401,878 2,858,919

CAPITAL AND RESERVES
Called up share capital 18 6 6
Retained earnings 4,401,872 2,858,913
SHAREHOLDERS' FUNDS 4,401,878 2,858,919

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:





R K Greywall - Director


ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 23 2,668,183 2,321,513
Tax paid (369,821 ) (473,504 )
Net cash from operating activities 2,298,362 1,848,009

Cash flows from investing activities
Purchase of tangible fixed assets (107,785 ) (29,052 )
Purchase of investment property - (745,764 )
Interest received 76,386 15,594
Net cash from investing activities (31,399 ) (759,222 )

Cash flows from financing activities
Loan repayments in year (263,274 ) (285,214 )
Amount introduced by directors 354,563 -
Amount withdrawn by directors (2,057,963 ) (1,981,448 )
Interest paid (310,871 ) (214,269 )
Net cash from financing activities (2,277,545 ) (2,480,931 )

Decrease in cash and cash equivalents (10,582 ) (1,392,144 )
Cash and cash equivalents at beginning
of year

24

2,083,517

3,475,661

Cash and cash equivalents at end of year 24 2,072,935 2,083,517

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

St Albans Care Limited is a private company, limited by shares, registered in England and Wales. The
company's registered number and registered office address are as below:

Registered number: 11686501

Registered office:
Alban Manor
2 Chene Drive
Off Waverley Road
St Albans
Herts AL3 5QP

The nature of the company's operations and principal activities are the operation of a nursing home.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Key assumptions have been made concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment within the next financial year to the carrying amount of £745,764 of the investment property. The estimation of fair value of the property is based on the open market value of similar properties in the area, which requires management judgement of appropriate benchmarks..

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Revenue is recognised over the period of a resident's placement on a straight line basis, when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost and 2% on cost
Fixtures and fittings - 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Government grants
Government grants which are compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs are recognised in the period in which they become receivable.

Rental income
Rental income is recognised over the period that the property is available to the tenant on a straight line basis.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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. TURNOVER

An analysis of turnover by category of revenue is given below:
20242023
£   £   
Rendering of services6,191,7275,249,201

4. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received 70,350 33,400
Government grants 10,000 21,500
80,350 54,900

Other operating income includes government grants amounting to £10,000 (2023: £21,500). These grants were received for the following purposes:

20242023
£   £   
Data Security & Protection Toolkit 10,000-
Winter Discharge Support-21,500
10,00021,500
.

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,567,796 2,178,999
Social security costs 246,484 206,348
Other pension costs 68,428 63,510
2,882,708 2,448,857

The average number of employees during the year was as follows:
2024 2023

Management & Administrative 12 12
Caring, Domestic & Nursing 80 74
92 86

2024 2023
£    £   
Directors' remuneration 277,782 134,314
Directors' pension contributions to money purchase schemes 24,000 25,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 2

Information regarding the highest paid director for the year ended 30 April 2024 is as follows:
2024
£   
Emoluments etc 198,978

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 259,982 251,229
Auditors' remuneration 11,875 17,012

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 310,871 214,269

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 568,359 370,982
No description (1,160 ) -
Total current tax 567,199 370,982

Deferred tax 11,326 (4,817 )
Tax on profit 578,525 366,165

UK corporation tax has been charged at 25% (2023 - 19.49%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,121,484 1,678,420
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19.490%)

530,371

327,124

Effects of:
Expenses not deductible for tax purposes 233 271
Adjustments to tax charge in respect of previous periods (1,160 ) -
Tax at different rates 49,081 38,770
Total tax charge 578,525 366,165

The UK corporation rate increased from 19% to 25% on 1 April 2023.

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 May 2023 9,786,325 557,339 10,343,664
Additions - 107,785 107,785
At 30 April 2024 9,786,325 665,124 10,451,449
DEPRECIATION
At 1 May 2023 785,980 193,556 979,536
Charge for year 196,338 63,644 259,982
At 30 April 2024 982,318 257,200 1,239,518
NET BOOK VALUE
At 30 April 2024 8,804,007 407,924 9,211,931
At 30 April 2023 9,000,345 363,783 9,364,128

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. TANGIBLE FIXED ASSETS - continued

The freehold property, with a carrying value of £8,804,007 (2023: £9,000,345) has been pledged as security for the bank loan (see note 16).

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 745,764
NET BOOK VALUE
At 30 April 2024 745,764
At 30 April 2023 745,764

The fair value of the investment property is estimated by the directors, based on the open market value of similar properties in its location.There was no independent professional valuation. There has been no change in value recognised during the year. The historic cost of the investment property is £745,764.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 166,593 272,584
Other debtors 14,548 1,006
Prepayments and accrued income 8,835 13,798
189,976 287,388

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 4,278,208 263,276
Payments on account 154,303 192,541
Trade creditors 50,208 60,013
Tax 468,360 270,982
Social security and other taxes 63,237 66,396
Other creditors 214,554 200,696
Directors' current accounts 2,428,663 4,132,063
Accruals and deferred income 61,492 69,328
7,719,025 5,255,295

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) - 4,278,206

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,278,208 263,276

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


14. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years - 4,278,206

The bank loan is repayable by quarterly instalments over 5 years at an interest rate of 1.9% over the base rate.

Interest payable during the year on the loan was £310,871 (2023: £214,269).

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 48,477 34,753
Between one and five years 28,703 47,752
In more than five years 1,155 3,136
78,335 85,641

As lessor:

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

2024 2023
£    £   
Within one year 1,600 4,000
1,600 4,000

The operating leases are in respect of property.

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,278,208 4,541,482

The bank loan is secured by a legal mortgage of the freehold property, including fixtures and fittings and a cross guarantee and debenture between the company and a company under common control.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 99,703 88,377

Deferred
tax
£   
Balance at 1 May 2023 88,377
Provided during year 11,326
Balance at 30 April 2024 99,703

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


17. PROVISIONS FOR LIABILITIES - continued

The net deferred tax liability expected to reverse in 2023/24 is £16,628 (2023/24; £6,366). This relates to the reversal of timing differences on acquired tangible assets and capital allowances through depreciation.

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6 Ordinary £1 6 6

The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights.

19. PENSION COMMITMENTS

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 £68,428 (2023: £63,510).

20. CONTINGENT LIABILITIES

There is a cross guarantee and debenture in place between the company and Andover Care Limited, a company under common control for a bank loan of £9,023,693 (2023: £nil).

21. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £2,428,663 (2023: £4,132,063). The loans are interest-free, unsecured and repayable on demand.

During the year, a total of key management personnel compensation of £ 400,692 (2023 - £ 257,424 ) was paid.

22. POST BALANCE SHEET EVENTS

The directors signed a loan facility agreement before the year end, which the company drew down after the year end. The new loan is £7.4 million to re-finance the loan outstanding at the year end of £4.3 million.

23. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 2,121,484 1,678,420
Depreciation charges 259,982 251,229
Finance costs 310,871 214,269
Finance income (76,386 ) (15,594 )
2,615,951 2,128,324
Decrease/(increase) in trade and other debtors 97,412 (94,891 )
(Decrease)/increase in trade and other creditors (45,180 ) 288,080
Cash generated from operations 2,668,183 2,321,513

ST ALBANS CARE LIMITED (REGISTERED NUMBER: 11686501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


24. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 2,072,935 2,083,517
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 2,083,517 3,475,661


25. ANALYSIS OF CHANGES IN NET DEBT

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank and in hand 2,083,517 (10,582 ) 2,072,935
2,083,517 (10,582 ) 2,072,935
Debt
Debts falling due within 1 year (263,276 ) (4,014,932 ) (4,278,208 )
Debts falling due after 1 year (4,278,206 ) 4,278,206 -
(4,541,482 ) 263,274 (4,278,208 )
Total (2,457,965 ) 252,692 (2,205,273 )