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REGISTERED NUMBER: 05456417 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

BENORE CARE LIMITED

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BENORE CARE LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: G A Hendry
C J Hendry
A Hendry



REGISTERED OFFICE: 17 Queens Lane
Newcastle Upon Tyne
NE1 1RN



REGISTERED NUMBER: 05456417 (England and Wales)



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

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,242,929 1,922,148

CURRENT ASSETS
Debtors 5 949,584 1,097,464
Cash at bank and in hand 941,319 376,839
1,890,903 1,474,303
CREDITORS
Amounts falling due within one year 6 1,557,808 476,395
NET CURRENT ASSETS 333,095 997,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,576,024

2,920,056

CREDITORS
Amounts falling due after more than one
year

7

-

(1,086,183

)

PROVISIONS FOR LIABILITIES 8 (1,104,016 ) (304,451 )
NET ASSETS 5,472,008 1,529,422

CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 3,865,372 360,620
Retained earnings 1,606,635 1,168,801
SHAREHOLDERS' FUNDS 5,472,008 1,529,422

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

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


BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

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

1. STATUTORY INFORMATION

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

The company's place of business is Benore Care Home, Lochleven Road, Lochore, Lochgelly KY5 8HU.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The Directors have assessed the ability of the company to continue as a going concern. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

TURNOVER
The turnover shown in the income statement represents amounts receivable, in respect of the provision of elderly 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.

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:

Heritable Property- 2.7% Straight Line
Plant and Machinery- 15% Reducing balance
Fixtures and fittings- 15% Reducing balance
Motor Vehicles- 25% Reducing balance

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

All fixed assets are initially recorded at cost. The cost of heritable property has subsequently been adjusted to take into account revaluations. Gains and losses arising from these revaluations are taken to the revaluation reserve.

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

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

2. ACCOUNTING POLICIES - continued

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.

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

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

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

2. ACCOUNTING POLICIES - continued

PENSION COSTS
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 101 (2023 - 97 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Heritable Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 May 2023 2,038,153 10,572 350,073
Additions - 2,119 15,299
Disposals - - -
Revaluations 4,161,847 - -
At 30 April 2024 6,200,000 12,691 365,372
DEPRECIATION
At 1 May 2023 147,602 8,781 328,556
Charge for year 55,085 295 4,663
Eliminated on disposal - - -
Revaluation adjustments (202,687 ) - -
At 30 April 2024 - 9,076 333,219
NET BOOK VALUE
At 30 April 2024 6,200,000 3,615 32,153
At 30 April 2023 1,890,551 1,791 21,517

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 30,424 - 2,429,222
Additions - 8,963 26,381
Disposals (30,424 ) - (30,424 )
Revaluations - - 4,161,847
At 30 April 2024 - 8,963 6,587,026
DEPRECIATION
At 1 May 2023 22,135 - 507,074
Charge for year 2,072 1,802 63,917
Eliminated on disposal (24,207 ) - (24,207 )
Revaluation adjustments - - (202,687 )
At 30 April 2024 - 1,802 344,097
NET BOOK VALUE
At 30 April 2024 - 7,161 6,242,929
At 30 April 2023 8,289 - 1,922,148

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Heritable Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2015 1,406,783 - - - 1,406,783
Valuation in 2018 (91,895 ) - - - (91,895 )
Valuation in 2021 (1,419,952 ) - - - (1,419,952 )
Valuation in 2024 4,161,847 - - - 4,161,847
Cost 2,143,217 12,691 365,372 8,963 2,530,243
6,200,000 12,691 365,372 8,963 6,587,026

If Heritable property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,143,217 2,143,217
Aggregate depreciation 660,351 617,487

Heritable property was valued on an open market basis on 30 April 2024 by the directors .

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 181,920 223,075
Amounts owed by group undertakings 727,081 696,526
Other debtors 40,583 177,863
949,584 1,097,464

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 39,981 35,458
Amounts owed to group undertakings 1,185,477 123,630
Taxation and social security 123,591 136,926
Other creditors 208,759 180,381
1,557,808 476,395

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 1,086,183

Included within amounts owed to group undertakings are both loans and trading balances.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,104,016 304,451

Deferred
tax
£   
Balance at 1 May 2023 304,451
Credit to Income Statement during year (47,996 )
Deferred tax on revaluation 847,561
Balance at 30 April 2024 1,104,016

9. CALLED UP SHARE CAPITAL

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

BENORE CARE LIMITED (REGISTERED NUMBER: 05456417)

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

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)
for and on behalf of Haines Watts Scotland

11. 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, Lister House (Fife) Limited, Avondale (Scotland) Limited, Glenbervie Care Limited and Glenbervie Holdings Limited. At the year end there is a contingent liability due to Barclays Bank plc of £2,608,529 (2023 - £5,057,137).

12. 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.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Catherine Hendry by virtue of her shareholdings in the ultimate parent undertaking, Avondale Care (Scotland) Limited. Avondale Care (Scotland) Limited has its registered office at Carrondale House, Beaumont Drive, Carron, Falkirk, Stirlingshire, FK2 8SN.