Company registration number 03973266 (England and Wales)
ALSTON VIEW NURSING HOME LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ALSTON VIEW NURSING HOME LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
ALSTON VIEW NURSING HOME LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
43,589
39,295
Current assets
Stocks
22,751
2,794
Debtors
5
648,272
420,128
Cash at bank and in hand
37,356
241
708,379
423,163
Creditors: amounts falling due within one year
6
(642,048)
(517,734)
Net current assets/(liabilities)
66,331
(94,571)
Total assets less current liabilities
109,920
(55,276)
Creditors: amounts falling due after more than one year
7
-
0
(88,550)
Provisions for liabilities
8
(8,303)
(6,738)
Net assets/(liabilities)
101,617
(150,564)
Capital and reserves
Called up share capital
12
1
1
Profit and loss reserves
101,616
(150,565)
Total equity
101,617
(150,564)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mr J Gray
Director
Company registration number 03973266 (England and Wales)
ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Alston View Nursing Home Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Gray House, Lawn Road, Carlton-in-Lindrick, S81 9LB. The company registration number is 03973266.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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 of £296,992 at the balance sheet date. The Directors acknowledge that the Group is reliant on the continued support of their significant creditors, including The Bank and HMRC, and that a funding requirement would arise in the event this support was to be removed which would present a material uncertainty with regards to going concern.

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.

1.3
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

Turnover comprises revenue recognised by the company in respect of its services as a care home and is recognised in the period which the services are provided.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property improvements
25% on cost
Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Computers
25% on cost
ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
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 leases asset are consumed.

ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
2
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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
54
43
4
Tangible fixed assets
Property improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
132,089
151,236
283,325
Additions
-
0
21,234
21,234
At 30 April 2024
132,089
172,470
304,559
Depreciation and impairment
At 1 May 2023
127,356
116,674
244,030
Depreciation charged in the year
2,238
14,702
16,940
At 30 April 2024
129,594
131,376
260,970
Carrying amount
At 30 April 2024
2,495
41,094
43,589
At 30 April 2023
4,733
34,562
39,295
ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
91,078
46,856
Amounts owed by group undertakings
522,952
280,670
Other debtors
11,530
33,384
Prepayments and accrued income
22,712
59,218
648,272
420,128

The amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
66,962
Trade creditors
163,527
194,463
Amounts owed to group undertakings
166,164
49,667
Corporation tax
13,051
18,445
Other taxation and social security
196,798
109,995
Other creditors
6,119
5,750
Accruals and deferred income
96,389
72,452
642,048
517,734

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

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
88,550
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
10
8,303
6,738
9

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 £14,568 (2023: £11,867). Contributions totalling £2,411 (2023: £2,458) were payable to the fund at the balance sheet date and are included in creditors.

ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
8,676
6,312
Retirement benefit obligations
(373)
(200)
Deferred tax unrecognised
-
626
8,303
6,738
2024
Movements in the year:
£
Liability at 1 May 2023
6,738
Charge to profit or loss
1,565
Liability at 30 April 2024
8,303

The deferred tax liability relates to accelerated capital allowances that are expected to mature.

11
Contingent liability

Cross guarantees to the bank exist over group assets to secure group borrowings. At the year end the group indebtedness to the bank totalled £6,118,137 (2023: £6,027,764).

12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
13
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report on the financial statements for the year ended 30 April 2024 was qualified.

Basis for qualified opinion

This is the first year that the financial statements of the Group and Company have been subject to an audit. As a result of this, management were unable to provide sufficient appropriate audit evidence in respect of revenue as the accounting records had not been kept. Consequently, we were unable to determine whether any adjustment to this amount was necessary for the current and prior financial year. In addition to this, we were unable to determine whether any adjustment was necessary to related balances such as deferred income in the prior financial year.
ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
13
Audit report information
(Continued)
- 7 -
In addition, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 1.2 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 1.2, these events or conditions, along with the other matters as set forht in note 1.2, 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                      by James Delve (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.
14
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
19,773
29,657
15
Related party transactions

The Company has taken advantage of the exemption available with FRS 102 not to disclose details of any transaction 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 £71,096 (2023: £42,247).

16
Parent company

The Company's immediate parent company is Gray Care Group Limited by virtue of owning the entire issued share capital of the Company. The ultimate controlling party is J and S Gray, by virtue of owning the entire issued share capital of Gray Care Group Limited.

17
Prior period adjustment
ALSTON VIEW NURSING HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
17
Prior period adjustment
(Continued)
- 8 -
Reconciliation of changes in equity
1 May
30 April
2022
2023
£
£
Adjustments to prior year
Include additional accruals
-
(24,348)
Remove overstated prepayments
-
(219,920)
Tax effect of adjustments
-
19,301
Total adjustments
-
(224,967)
Equity as previously reported
(240,881)
74,403
Equity as adjusted
(240,881)
(150,564)
Analysis of the effect upon equity
Profit and loss reserves
-
(224,967)
Reconciliation of changes in profit for the previous financial period
2023
£
Adjustments to prior year
Include additional accruals
(24,348)
Remove overstated prepayments
(219,920)
Tax effect of adjustments
19,301
Total adjustments
(224,967)
Profit as previously reported
315,284
Profit as adjusted
90,317
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