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Registered number: 10392044










NORTHFIELD CARE CENTRE (THORNE) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
REGISTERED NUMBER: 10392044

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
47,217
34,958

Current assets
  

Debtors: amounts falling due within one year
 5 
912,149
900,722

Cash at bank and in hand
 6 
24,381
23,371

  
936,530
924,093

Creditors: amounts falling due within one year
 7 
(777,748)
(742,876)

Net current assets
  
 
 
158,782
 
 
181,217

Total assets less current liabilities
  
205,999
216,175

Provisions for liabilities
  

Deferred tax
 8 
(7,368)
(5,251)

Net assets
  
198,631
210,924


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
198,531
210,824

  
198,631
210,924


The financial statements have been prepared 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 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

 
NORTHFIELD CARE CENTRE (THORNE) 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
100
(231,387)
(231,287)


Comprehensive income for the year

Profit for the year
-
442,211
442,211
Total comprehensive income for the year
-
442,211
442,211



At 1 May 2023
100
210,824
210,924


Comprehensive income for the year

Loss for the year
-
(12,293)
(12,293)
Total comprehensive income for the year
-
(12,293)
(12,293)


At 30 April 2024
100
198,531
198,631


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

Page 2

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

1.


General information

Northfield Care Centre (Thorne) Ltd is a private company incorporated in England and Wales. Its
registered office is Sturgate Business Hub Sturgate Airfield, Heapham, Gainsborough, Lincolnshire, DN21 5PA. Its principal 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

On the 23rd September 2024, the trade and assets of the Company were sold to a third party and therefore the Directors have considered the preparation of the accounts on a going concern basis to be inappropriate. The financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the Company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

 
2.3

Revenue

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.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

2.Accounting policies (continued)


2.8
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 straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
20% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% 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.

 
2.9

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 hand 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.







Care staff
92
83

Page 5

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost


At 1 May 2023
23,498
34,467
13,812
16,242
88,019


Additions
11,670
12,045
1,002
-
24,717



At 30 April 2024

35,168
46,512
14,814
16,242
112,736



Depreciation


At 1 May 2023
16,573
21,627
5,910
8,951
53,061


Charge for the year on owned assets
3,493
5,727
1,790
1,448
12,458



At 30 April 2024

20,066
27,354
7,700
10,399
65,519



Net book value



At 30 April 2024
15,102
19,158
7,114
5,843
47,217



At 30 April 2023
6,925
12,840
7,902
7,291
34,958


5.


Debtors

2024
2023
£
£


Trade debtors
35,878
52,314

Amounts owed by group undertakings
753,433
790,183

Amounts owed by connected companies
4,106
4,106

Other debtors
65,082
2,103

Prepayments and accrued income
53,650
52,016

912,149
900,722


No impairment has been recognised against trade debtors (2023: £Nil).
Amounts owed by group undertakings are unsecured, interest free and repayable on demand. 
Included within other debtors is £49,775 (2023: -£225) owed from a director.

Page 6

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
24,381
23,371



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
180,429
172,261

Amounts owed to group undertakings
234,322
224,980

Amounts owed to connected companies
3,090
3,090

Corporation tax
76,168
33,673

Other taxation and social security
70,894
108,519

Other creditors
812
9,359

Accruals and deferred income
212,033
190,994

777,748
742,876


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


8.


Deferred taxation




2024


£






At beginning of year
(5,251)


Charged to profit or loss
(2,117)



At end of year
(7,368)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(9,302)
(7,185)

Short term timing differences
1,934
1,934

(7,368)
(5,251)

Page 7

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the pension 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 amount to £20,763 (2023: £19,286). Contributions totaling £3,060 (2023: £7,242) were payable at the balance sheet date and are included in creditors.


11.


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
-
2,268


12.


Related party transactions

The Company has taken advantage of the exemption available within FRS 102 not to disclose details of any transactions between itself and its 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.
During the year, key management personnel were remunerated £61,544 (2023: £70,344).
During the year, the Company received £113,620 (2023: £Nil) of rental income from the parent company. 


13.


Post balance sheet events

On the 23rd September 2024, the trade and assets of the Company were sold to a third party.


14.


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.

Page 8

 
NORTHFIELD CARE CENTRE (THORNE) LIMITED
 

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

15.


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 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.2. 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