Cotswold & Cavendish Care Group Limited 08817514 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is a holding company for a trading subsidiary that offers the provision of residential care. Digita Accounts Production Advanced 6.30.9574.0 true false true 08817514 2023-05-01 2024-04-30 08817514 2024-04-30 08817514 core:RetainedEarningsAccumulatedLosses 2024-04-30 08817514 core:ShareCapital 2024-04-30 08817514 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 08817514 core:CostValuation 2024-04-30 08817514 bus:SmallEntities 2023-05-01 2024-04-30 08817514 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08817514 bus:FilletedAccounts 2023-05-01 2024-04-30 08817514 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08817514 bus:RegisteredOffice 2023-05-01 2024-04-30 08817514 bus:CompanySecretary1 2023-05-01 2024-04-30 08817514 bus:Director1 2023-05-01 2024-04-30 08817514 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08817514 core:Subsidiary1 2023-05-01 2024-04-30 08817514 core:Subsidiary1 countries:AllCountries 2023-05-01 2024-04-30 08817514 countries:EnglandWales 2023-05-01 2024-04-30 08817514 2023-04-30 08817514 core:RetainedEarningsAccumulatedLosses 2023-04-30 08817514 core:ShareCapital 2023-04-30 08817514 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 08817514 2022-05-01 2023-04-30 08817514 2023-04-30 08817514 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 08817514 core:Subsidiary1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 08817514

Prepared for the registrar

Cotswold & Cavendish Care Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Cotswold & Cavendish Care Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Cotswold & Cavendish Care Group Limited

Company Information

Director

K G Horsted

Company secretary

W G Horsted

Registered office

Cotswold House Care Home
Church Road
Cainscross
Stroud
Gloucestershire
GL5 4JE

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Cotswold & Cavendish Care Group Limited

(Registration number: 08817514)
Balance Sheet as at 30 April 2024

Note

2024
 £

2023
 £

Fixed assets

 

Investments

4

1,000

1,000

Current assets

 

Debtors: Amounts falling due within one year

5

1,567,551

1,531,274

Cash at bank

 

516,458

241,147

 

2,084,009

1,772,421

Creditors: Amounts falling due within one year

6

(1,062,750)

(609,990)

Net current assets

 

1,021,259

1,162,431

Net assets

 

1,022,259

1,163,431

Capital and reserves

 

Called up share capital

3,290

3,290

Profit and loss account

1,018,969

1,160,141

Total equity

 

1,022,259

1,163,431

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 


K G Horsted
Director

 

Cotswold & Cavendish Care Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cotswold House Care Home
Church Road
Cainscross
Stroud
Gloucestershire
GL5 4JE

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Tax

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

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Cotswold & Cavendish Care Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

 

Cotswold & Cavendish Care Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

Cotswold & Cavendish Care Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
 

Impairment (continued)
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
 

 

Cotswold & Cavendish Care Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

2024
 No.

2023
 No.

Average number of employees

5

5

 

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost and net book value

As at 1 May 2023 and at 30 April 2024

1,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Cotswold House Care Home Limited

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Cotswold House Care Home Limited

The principal activity of Cotswold House Care Home Limited is the provision of care services.

 

Cotswold & Cavendish Care Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

5

Debtors

2024
 £

2023
 £

Other debtors

1,544,175

1,531,274

Directors' loan account

23,376

-

 

1,567,551

1,531,274

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Amounts due to related parties

1,043,113

598,113

Social security and other taxes

 

383

451

Directors' loan account

 

-

312

Accrued expenses

 

11,354

11,114

Corporation tax liability

7,900

-

 

1,062,750

609,990