Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true632023-05-01falseProvides Care Services61truefalse 06937188 2023-05-01 2024-04-30 06937188 2022-05-01 2023-04-30 06937188 2024-04-30 06937188 2023-04-30 06937188 2022-05-01 06937188 c:Director2 2023-05-01 2024-04-30 06937188 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 06937188 d:Buildings d:LongLeaseholdAssets 2024-04-30 06937188 d:Buildings d:LongLeaseholdAssets 2023-04-30 06937188 d:PlantMachinery 2023-05-01 2024-04-30 06937188 d:PlantMachinery 2024-04-30 06937188 d:PlantMachinery 2023-04-30 06937188 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06937188 d:MotorVehicles 2023-05-01 2024-04-30 06937188 d:MotorVehicles 2024-04-30 06937188 d:MotorVehicles 2023-04-30 06937188 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06937188 d:FurnitureFittings 2023-05-01 2024-04-30 06937188 d:FurnitureFittings 2024-04-30 06937188 d:FurnitureFittings 2023-04-30 06937188 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06937188 d:OfficeEquipment 2023-05-01 2024-04-30 06937188 d:OfficeEquipment 2024-04-30 06937188 d:OfficeEquipment 2023-04-30 06937188 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06937188 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06937188 d:CurrentFinancialInstruments 2024-04-30 06937188 d:CurrentFinancialInstruments 2023-04-30 06937188 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06937188 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06937188 d:ShareCapital 2023-05-01 2024-04-30 06937188 d:ShareCapital 2024-04-30 06937188 d:ShareCapital 2022-05-01 2023-04-30 06937188 d:ShareCapital 2023-04-30 06937188 d:ShareCapital 2022-05-01 06937188 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 06937188 d:RetainedEarningsAccumulatedLosses 2024-04-30 06937188 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 06937188 d:RetainedEarningsAccumulatedLosses 2023-04-30 06937188 d:RetainedEarningsAccumulatedLosses 2022-05-01 06937188 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 06937188 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 06937188 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 06937188 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 06937188 c:OrdinaryShareClass1 2023-05-01 2024-04-30 06937188 c:OrdinaryShareClass1 2024-04-30 06937188 c:OrdinaryShareClass1 2023-04-30 06937188 c:FRS102 2023-05-01 2024-04-30 06937188 c:Audited 2023-05-01 2024-04-30 06937188 c:FullAccounts 2023-05-01 2024-04-30 06937188 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06937188 d:WithinOneYear 2024-04-30 06937188 d:WithinOneYear 2023-04-30 06937188 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06937188 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06937188










HIGHFIELDS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
HIGHFIELDS LIMITED
REGISTERED NUMBER: 06937188

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
17,594
13,103

Current assets
  

Stocks
 5 
1,000
1,000

Debtors: amounts falling due within one year
 6 
634,221
605,434

Cash at bank and in hand
 7 
24,546
60,298

  
659,767
666,732

Creditors: amounts falling due within one year
 8 
(370,949)
(390,680)

Net current assets
  
 
 
288,818
 
 
276,052

Total assets less current liabilities
  
306,412
289,155

Provisions for liabilities
  

Deferred tax
 9 
(4,124)
(2,334)

Net assets
  
302,288
286,821


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
302,287
286,820

  
302,288
286,821


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 January 2025.




P Gray
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
HIGHFIELDS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2022
1
302,660
302,661


Comprehensive income for the year

Loss for the year
-
(15,840)
(15,840)
Total comprehensive income for the year
-
(15,840)
(15,840)



At 1 May 2023
1
286,820
286,821


Comprehensive income for the year

Profit for the year
-
15,467
15,467
Total comprehensive income for the year
-
15,467
15,467


At 30 April 2024
1
302,287
302,288


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HIGHFIELDS LIMITED
 

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

1.


General information

Highfields Limited is a private limited company incorporated in England and Wales. The Company's registered office is Sturgate Business Hub, Sturgate Airfield, Heapham, Gainsborough, Lincolnshire, DN21 5PA. The Company's registration number is 06937188. Its principle activity is the provision of care services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is £ sterling. The financial statements are prepared to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors believe that the Company’s financial statements should be prepared on a going concern basis and have considered a period of twelve months from the date of approval of these financial statements. 
The Group is in a net current liability position at the balance sheet date which is attributable to the bank loan falling due for repayment within 12 months of the year end. In October 2024, the Group obtained refinancing. 
The Directors acknowledge that the Group is reliant on the continued support of the Bank and other creditors. The Group has continued to trade following the sale of key assets post year end which has also enabled them to reduce the bank loan significantly and refinance. 
After reviewing the Group's forecasts and projections, the Directors have a reasonable expectation that the Group will show increased profitability going forward which will allow the Group to continue in operational existence for the foreseeable future. 
Based on this the Directors continue to adopt the going concern basis in preparing the Company’s financial statements however, they acknowledge that factors outside their control create a material uncertainty for the group, in particular reliance on continued support from lenders and other creditors.

 
2.3

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year to residents of the nursing home.
Turnover is recognised when services are provided. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
HIGHFIELDS LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Page 4

 
HIGHFIELDS LIMITED
 

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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the rates below.

Depreciation is provided on the following basis:

Leasehold improvements
-
50%
straight line
Plant and machinery
-
67%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
67%
straight line
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hands and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Carehome staff
63
61

Page 5

 
HIGHFIELDS LIMITED
 

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

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost


At 1 May 2023
85,309
57,441
967
22,299
5,590
171,606


Additions
6,152
3,480
-
8,980
-
18,612



At 30 April 2024

91,461
60,921
967
31,279
5,590
190,218



Depreciation


At 1 May 2023
83,993
52,828
913
15,613
5,156
158,503


Charge for the year 
4,831
5,919
54
2,886
431
14,121



At 30 April 2024

88,824
58,747
967
18,499
5,587
172,624



Net book value



At 30 April 2024
2,637
2,174
-
12,780
3
17,594



At 30 April 2023
1,316
4,613
54
6,686
434
13,103


5.


Stocks

2024
2023
£
£

Raw materials and consumables
1,000
1,000


Page 6

 
HIGHFIELDS LIMITED
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
4,592
3,726

Amounts owed by group undertakings
613,108
550,367

Prepayments and accrued income
16,521
51,341

634,221
605,434


No impairment has been recognised against trade debtors (2023: £Nil).
Amounts owed by group undertakings are unsecured, interest free and repayable on demand. 


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
24,546
60,298



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
90,559
68,727

Amounts owed to group undertakings
108,839
107,565

Corporation tax
35,896
41,740

Other taxation and social security
44,307
67,575

Other creditors
900
3,284

Accruals and deferred income
90,448
101,789

370,949
390,680


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 

Page 7

 
HIGHFIELDS LIMITED
 

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

9.


Deferred taxation




2024


£






At beginning of year
(2,334)


Charged to profit or loss
(1,790)



At end of year
(4,124)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(4,124)
(2,908)

Other short term timing differences
-
574

(4,124)
(2,334)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary Share Capital share of £1.00
1
1



11.


Contingent liabilities

Cross guarantees to the bank exist over group assets to secure group borrowings. At the year end the
group indebtedness to the bank totaled £8,863,239 (2023: £9,352,322).


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £19,513 (2023: £17,711).
Contributions totaling £611 (2023: £3,054) were payable to the fund at the balance sheet date and are
included in creditors

Page 8

 
HIGHFIELDS LIMITED
 

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

13.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
594
1,860


14.


Related party transactions

The Company has taken advantage of the exemptions available with FRS 102 not to disclose details of
any transactions between itself and fellow Group undertakings on the basis that it is a subsidiary
undertaking where 100% of the voting rights are controlled within the Group whose consolidated financial
statements are publicly available.
Key management remuneration totalled £76,377 (2023: £45,705).


15.


Controlling party

The Company's immediate parent company is MPS Care Limited by virtue of owning the entire issued
share capital of the Company. The Company's ultimate parent company is MPS Care Group Limited,
registered Office: Sturgate Business Hub, Sturgate Airfield, Heapham, Gainsborough, Lincolnshire, DN21 5PA.
The ultimate controlling party is P Gray by virtue of owning the entire issued share capital of MPS Care
Group Limited.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

We draw attention to note 2.2 in the financial statements, which indicates that conditions have been identified that may cast significant doubt on the Company's ability to continue as a going concern. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
 

The audit report was signed on 28 January 2025 by James Delve (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.


Page 9