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REGISTERED NUMBER: SC496578 (Scotland)









STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

GLENBERVIE CARE LIMITED

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


GLENBERVIE CARE LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: G A Hendry
A Hendry



REGISTERED OFFICE: Carrondale Care Home
86 Beaumont Drive
Falkirk
FK2 8SN



REGISTERED NUMBER: SC496578 (Scotland)



AUDITORS: Haines Watts Scotland
Business Advisors, Accountants and
Statutory Auditors
Q Court
3 Quality Street
Edinburgh
EH4 5BP



BANKERS: Barclays Bank Plc
Unit 2, 10-15 Princes Street
Edinburgh
EH2 2AN

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

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
The care home sector has not been immune to the rising cost of living and the interest rate increases resulting in increased overhead costs and interest paid to the bank to service loans.

Good Care Inspectorate grades and occupancy levels have been maintained and once again our management teams have delivered good results despite continuing recruitment and retention issues which are widespread in the social care sector. The NHS and Social care sectors continue to try to recruit from what appears to be a shrinking pool of people who want to work in the sector. We continue to recruit from overseas to supplement our local recruitment efforts. However, this is now more difficult because of the changes made by the UK government Home Office regarding overseas recruitment.

Income has increased by 11.7% from the previous year as a result of the National Care Home Contract increase agreed in 2023 and the continued increase in adult care provision at Glenbervie Care Home. Wages increased by 13.6% primarily due to the Living Wage increase, the accompanying increases for other staff members and increased staff numbers due to increased adult care provision. The wages to income percentage was slightly higher than last year at 56.1%.

Overheads as a percentage of income were 17.0% which was a decrease from the previous financial period (19.7%) as refurbishment costs were less this financial year more work having been carried out the previous financial year.

The increased scrutiny of care homes has reduced further in that the Care Home Assurance teams (CHART) teams and infection control teams from Health and Social Care Partnerships have reduced frequency of visits. However, there is still more scrutiny than pre-covid levels. The scrutiny does take up a lot of management time but there are the beginnings of a discussion around sharing information between the main bodies such as the Carer Inspectorate and Health and Social Care Partnership to reduce duplication of information given by management teams to these bodies.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties have not really changed for over a decade and there seems to be no real plan in place to change these crucial elements.

Poor Funding

Continues to be an issue. The settlement for this financial year made in April 2022 was 6.00%. Once again this covers wage increases stipulated in the NCHC agreement but does not address increase in overhead costs. This has been the case for a decade and support of the Scottish Care Members for the National Care Home Contract is waning.

Again there has been no further progress on the cost of care calculator which Scottish Care argue would calculate the true cost of care. The Scottish Government continue to say that the increase to the NCHC is the responsibility of COSLA and COSLA continue to say that they are underfunded by the Scottish Government. It is clear the Scottish Government must be involved in the process but there is no real indication of that happening. The focus of the Scottish Government is clearly the NHS and it would appear they do not see the Social Care Sector is an important part of the Health System allowing people who require care at Home or residence in a care facility to move out of hospital and reduce bed-blocking in NHS hospitals.



GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

STRATEGIC REPORT
for the year ended 30 April 2024


Recruitment

Recruitment continues to be extremely challenging. There are the usual battles between staff pay for retail and supermarket outlets and the better NHS pay for domestics and care assistants which make recruitment very difficult.

There are also more and more agencies appearing and they are taking staff from care homes. They pay staff more and in turn charge care homes at least 50% more per hour if they use agency staff. The whole agency industry is not well regulated by the Care Inspectorate and this needs to be addressed.

We continue to bolster our recruitment by hiring employees from overseas. This is a complicated and costly process and requires a great deal of administration. As already mentioned the UK Government Home Office changes to immigration have made this process more difficult in there desire to reduce immigration numbers. This has not been matched by any initiatives to help social care recruit local staff and so this will put an increased strain on care home recruitment.

Increasing costs

We have been subject to cost of living increases fuelled by rising inflation as have most businesses and individuals.

We have been subject to increasing interest charges as interest rates have risen which does put a financial strain on the business. Interest rates continue to rise which has increased our interest charges. While this is not included in EBITDA calculations it is a real cost which has to be paid and reduces the amount of money available for refurbishment, resident activities, equipment renewal etc.

ON BEHALF OF THE BOARD:





G A Hendry - Director


28 January 2025

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

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.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of providing care to the elderly.

DIVIDENDS
An interim dividend of £1,275 per share was paid on 30 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2024 will be £ 127,500 .

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

G A Hendry
A Hendry

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

REPORT OF THE DIRECTORS
for the year ended 30 April 2024


AUDITORS
The auditors, Haines Watts Scotland, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




G A Hendry - Director


28 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLENBERVIE CARE LIMITED

Opinion
We have audited the financial statements of Glenbervie Care Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLENBERVIE CARE LIMITED


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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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.

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:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge;
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation, employment and data protection;
- We assessed the extent of compliance with the laws and regulations identified above through making enquires of management and inspecting legal correspondence;
- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assess the susceptibility of material misstatements within the Company's financial statements, including obtaining an understanding of how fraud might occur by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLENBERVIE CARE LIMITED


To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgement and assumptions made in determining accounting estimates were indicative of potential bias; and
- Investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statement disclosures to underlying supporting documentation;
- Reading the minutes of meetings of those charged with governance;
- Enquiring of management as to actual potential litigation and claims; and
- Reviewing correspondence.

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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.




Craig Hunter (Senior Statutory Auditor)
for and on behalf of Haines Watts Scotland
Business Advisors, Accountants and
Statutory Auditors
Q Court
3 Quality Street
Edinburgh
EH4 5BP

28 January 2025

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

STATEMENT OF COMPREHENSIVE INCOME
for the year ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 5,487,487 4,912,365

Cost of sales 3,280,291 2,874,309
GROSS PROFIT 2,207,196 2,038,056

Administrative expenses 934,815 971,377
OPERATING PROFIT 4 1,272,381 1,066,679

Interest receivable and similar income 115,762 6,290
PROFIT BEFORE TAXATION 1,388,143 1,072,969

Tax on profit 5 290,735 152,104
PROFIT FOR THE FINANCIAL YEAR 1,097,408 920,865

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,097,408

920,865

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 236,434 224,026

CURRENT ASSETS
Debtors 8 2,464,863 2,273,721
Cash at bank 3,371,446 2,760,341
5,836,309 5,034,062
CREDITORS
Amounts falling due within one year 9 2,702,809 2,858,062
NET CURRENT ASSETS 3,133,500 2,176,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,369,934

2,400,026

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 3,369,834 2,399,926
SHAREHOLDERS' FUNDS 3,369,934 2,400,026

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





G A Hendry - Director


GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

STATEMENT OF CHANGES IN EQUITY
for the year ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 100 1,479,061 1,479,161

Changes in equity
Total comprehensive income - 920,865 920,865
Balance at 30 April 2023 100 2,399,926 2,400,026

Changes in equity
Dividends - (127,500 ) (127,500 )
Total comprehensive income - 1,097,408 1,097,408
Balance at 30 April 2024 100 3,369,834 3,369,934

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Glenbervie Care Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The company's place of business is Glenbervie Care Home, Larbert, Falkirk FK5 4EG.

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.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

TURNOVER
The turnover shown in the income statement represents amounts receivable, in respect of the provision of elderly and complex care, during the year. Turnover is recognised when the agreed period of service has expired, with payments in advance deferred until the period in which the service is provided.

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful economic life of that asset as follows:

Plant and Machinery- 20% Reducing balance
Fixtures and fittings- 20% Reducing balance
Computer Equipment- 25% Reducing balance
Heritable Property- 2% Straight Line

All fixed assets are initially recorded at cost.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund.

OPERATING LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease assets are consumed.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,854,686 2,497,665
Social security costs 183,954 175,387
Other pension costs 41,891 37,365
3,080,531 2,710,417

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

Home managers/senior staff 2 3
Administrative and other staff 31 30
Nurses/care assistants 102 90
135 123

2024 2023
£    £   
Directors' remuneration - -

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 32,958 30,672
Auditors' remuneration 8,640 7,200
Auditors' remuneration for non audit work 557 -

5. 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 325,503 196,216
Overprovision in prior year (34,768 ) (21,901 )
Total current tax 290,735 174,315

Deferred tax - (22,211 )
Tax on profit 290,735 152,104

UK corporation tax has been charged at 25% (2023 - 19%).

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,388,143 1,072,969
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

347,036

203,864

Effects of:
Expenses not deductible for tax purposes 1,405 1,068
Capital allowances in excess of depreciation (22,938 ) (13,462 )
Adjustments to tax charge in respect of previous periods (34,768 ) (21,901 )
Change in tax rate - 4,746
Deferred tax on accelerated capital allowances - (22,211 )
Total tax charge 290,735 152,104

6. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 127,500 -

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

7. TANGIBLE FIXED ASSETS
Improvements
Heritable to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 96,551 - 137,643
Additions - 9,850 26,066
At 30 April 2024 96,551 9,850 163,709
DEPRECIATION
At 1 May 2023 2,253 - 39,278
Charge for year 1,931 1,564 22,342
At 30 April 2024 4,184 1,564 61,620
NET BOOK VALUE
At 30 April 2024 92,367 8,286 102,089
At 30 April 2023 94,298 - 98,365

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 26,110 25,279 285,583
Additions 6,218 3,232 45,366
At 30 April 2024 32,328 28,511 330,949
DEPRECIATION
At 1 May 2023 4,694 15,332 61,557
Charge for year 4,231 2,890 32,958
At 30 April 2024 8,925 18,222 94,515
NET BOOK VALUE
At 30 April 2024 23,403 10,289 236,434
At 30 April 2023 21,416 9,947 224,026

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 191,017 199,459
Amounts owed by group undertakings 2,066,467 1,945,063
Other debtors 16,823 21,998
Prepayments and accrued income 190,556 107,201
2,464,863 2,273,721

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 80,115 120,328
Amounts owed to group undertakings 2,047,421 2,389,019
Tax 217,892 125,062
Social security and other taxes 54,249 46,869
Other creditors 105,570 63,319
Accruals and deferred income 197,562 113,465
2,702,809 2,858,062

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 12,500

11. SECURED DEBTS

As a result of the loan facility with parent entity Glenbervie Holdings Limited, Barclays Bank has been granted a floating charge over all company assets.

12. FINANCIAL INSTRUMENTS

Financial assets measured at amortised cost comprise cash, trade debtors, amounts owed by group undertakings and other debtors.

At the year end the company had financial assets measured at amortised cost totalling £5,645,752 (2023 - £4,926,861).

Financial liabilities measured at amortised cost comprise trade creditors, other creditors, amounts owed to group undertakings and accrued expenses.

At the year end the company had financial liabilities measured at amortised cost totalling £2,430,666 (2023 - £2,686,130).

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

GLENBERVIE CARE LIMITED (REGISTERED NUMBER: SC496578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

14. RESERVES
Retained
earnings
£   

At 1 May 2023 2,399,926
Profit for the year 1,097,408
Dividends (127,500 )
At 30 April 2024 3,369,834

15. CONTINGENT LIABILITIES

There is a guarantee in favour of Barclays Bank plc for all of the present and future banking obligations of the group companies, Avondale Care (Scotland) Limited, Benore Care Limited, Lister House (Fife) Limited and Glenbervie Holdings Limited. At the year end there is a contingent liability due to Barclays Bank plc of £4,996,830 (2023 - £7,440,640).

16. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

17. ULTIMATE CONTROLLING PARTY

At the year end the immediate parent company was Glenbervie Holdings Limited, the ultimate parent was Avondale Care (Scotland) Limited and the ultimate controlling party is C Hendry by virtue of her shareholding in the parent company, Avondale Care (Scotland) Limited.

Avondale Care (Scotland) Limited is the parent of the smallest group for which consolidated financial statements are drawn up. These are available from Companies House. Avondale Care (Scotland) Limited has its registered office at Carrondale House, Beaumont Drive, Carron, Falkirk, Stirlingshire, FK2 8SN.