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Company Registration No. 06558259 (England and Wales)
Sheerwater Healthcare Limited Unaudited accounts for the year ended 30 April 2024
Sheerwater Healthcare Limited Unaudited accounts Contents
Page
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Sheerwater Healthcare Limited Company Information for the year ended 30 April 2024
Director
Mr M Rose
Company Number
06558259 (England and Wales)
Registered Office
Unit 5, Swaker Yard 2B Theobald Street Herts WD6 4SE United Kingdom
Accountants
Platts Unit 5 Swaker Yard 2b Theobald Street Herts WD6 4SE
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Sheerwater Healthcare Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
134,077 
164,434 
Tangible assets
1,709,398 
1,707,426 
1,843,475 
1,871,860 
Current assets
Debtors
47,453 
45,316 
Cash at bank and in hand
40,856 
71,787 
88,309 
117,103 
Creditors: amounts falling due within one year
(128,175)
(168,718)
Net current liabilities
(39,866)
(51,615)
Total assets less current liabilities
1,803,609 
1,820,245 
Creditors: amounts falling due after more than one year
(960,704)
(988,694)
Provisions for liabilities
Deferred tax
(93,130)
(93,130)
Net assets
749,775 
738,421 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
397,026 
397,026 
Profit and loss account
352,747 
341,393 
Shareholders' funds
749,775 
738,421 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 January 2025 and were signed on its behalf by
Mr M Rose Director Company Registration No. 06558259
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Sheerwater Healthcare Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Sheerwater Healthcare Limited is a private company, limited by shares, registered in England and Wales, registration number 06558259. The registered office is Unit 5, Swaker Yard, 2B Theobald Street, Herts, WD6 4SE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Sheerwater Healthcare Limited Notes to the Accounts for the year ended 30 April 2024
Care home land & buildings
Care home land & buildings is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
607,140 
At 30 April 2024
607,140 
Amortisation
At 1 May 2023
442,706 
Charge for the year
30,357 
At 30 April 2024
473,063 
Net book value
At 30 April 2024
134,077 
At 30 April 2023
164,434 
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
1,700,000 
120,192 
1,820,192 
Additions
- 
5,104 
5,104 
At 30 April 2024
1,700,000 
125,296 
1,825,296 
Depreciation
At 1 May 2023
- 
112,766 
112,766 
Charge for the year
- 
3,132 
3,132 
At 30 April 2024
- 
115,898 
115,898 
Net book value
At 30 April 2024
1,700,000 
9,398 
1,709,398 
At 30 April 2023
1,700,000 
7,426 
1,707,426 
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Sheerwater Healthcare Limited Notes to the Accounts for the year ended 30 April 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
38,174 
Other debtors
47,453 
7,142 
47,453 
45,316 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
55,661 
83,333 
Trade creditors
- 
31,226 
Taxes and social security
66,574 
53,998 
Other creditors
5,940 
- 
Loans from directors
- 
161 
128,175 
168,718 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
960,704 
988,694 
The bank loan is repayable after more than one year and is secured by a first fixed legal charge.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Controlling party
The ultimate parent company is Sheerwater House Holdings Limited, a company where Mr M Rose owns the company's entire ordinary issued share capital. The registered office is Unit 5, Swaker Yard, 2B Theobald Street, Herts, WD6 4SE. The principal place of business is Sheerwater House, Sheerwater Road, Woodham, Addlestone, Surrey, KT15 3QL.
11
Average number of employees
During the year the average number of employees was 15 (2023: 15).
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