The Stone House Home Limited 02079597 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of a nursing home Digita Accounts Production Advanced 6.30.9574.0 true 02079597 2023-03-01 2024-02-29 02079597 2024-02-29 02079597 bus:OrdinaryShareClass1 2024-02-29 02079597 core:CurrentFinancialInstruments 2024-02-29 02079597 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 02079597 core:Non-currentFinancialInstruments 2024-02-29 02079597 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 02079597 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 02079597 core:Buildings 2024-02-29 02079597 core:FurnitureFittingsToolsEquipment 2024-02-29 02079597 core:LandBuildings 2024-02-29 02079597 core:MotorVehicles 2024-02-29 02079597 core:AllAssociates 2024-02-29 02079597 core:AllJointVentures 2024-02-29 02079597 core:OtherRelatedParties 2024-02-29 02079597 bus:SmallEntities 2023-03-01 2024-02-29 02079597 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 02079597 bus:FilletedAccounts 2023-03-01 2024-02-29 02079597 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 02079597 bus:RegisteredOffice 2023-03-01 2024-02-29 02079597 bus:Director4 2023-03-01 2024-02-29 02079597 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 02079597 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02079597 core:ComputerSoftware 2023-03-01 2024-02-29 02079597 core:Buildings 2023-03-01 2024-02-29 02079597 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 02079597 core:Land 2023-03-01 2024-02-29 02079597 core:LandBuildings 2023-03-01 2024-02-29 02079597 core:MotorVehicles 2023-03-01 2024-02-29 02079597 core:PlantMachinery 2023-03-01 2024-02-29 02079597 core:AllAssociates 2023-03-01 2024-02-29 02079597 core:AllJointVentures 2023-03-01 2024-02-29 02079597 core:OtherRelatedParties 2023-03-01 2024-02-29 02079597 countries:AllCountries 2023-03-01 2024-02-29 02079597 2023-02-28 02079597 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 02079597 core:FurnitureFittingsToolsEquipment 2023-02-28 02079597 core:LandBuildings 2023-02-28 02079597 core:MotorVehicles 2023-02-28 02079597 core:AllAssociates 2023-02-28 02079597 core:AllJointVentures 2023-02-28 02079597 core:OtherRelatedParties 2023-02-28 02079597 2022-03-01 2023-02-28 02079597 2023-02-28 02079597 bus:OrdinaryShareClass1 2023-02-28 02079597 core:CurrentFinancialInstruments 2023-02-28 02079597 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 02079597 core:Non-currentFinancialInstruments 2023-02-28 02079597 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 02079597 core:Buildings 2023-02-28 02079597 core:FurnitureFittingsToolsEquipment 2023-02-28 02079597 core:LandBuildings 2023-02-28 02079597 core:MotorVehicles 2023-02-28 02079597 core:AllAssociates 2023-02-28 02079597 core:AllJointVentures 2023-02-28 02079597 core:OtherRelatedParties 2023-02-28 02079597 core:AllAssociates 2022-03-01 2023-02-28 02079597 core:AllJointVentures 2022-03-01 2023-02-28 02079597 core:OtherRelatedParties 2022-03-01 2023-02-28 02079597 2022-02-28 02079597 core:AllAssociates 2022-02-28 02079597 core:AllJointVentures 2022-02-28 02079597 core:OtherRelatedParties 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02079597

The Stone House Home Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

The Stone House Home Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

The Stone House Home Limited

(Registration number: 02079597)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,511,886

3,525,201

Current assets

 

Stocks

6

5,388

5,198

Debtors

7

1,034,597

1,915,126

Cash at bank and in hand

 

2,809

27,203

 

1,042,794

1,947,527

Creditors: Amounts falling due within one year

8

(1,899,812)

(1,716,816)

Net current (liabilities)/assets

 

(857,018)

230,711

Total assets less current liabilities

 

2,654,868

3,755,912

Creditors: Amounts falling due after more than one year

8

(236,933)

(229,981)

Provisions for liabilities

(112,579)

(118,163)

Net assets

 

2,305,356

3,407,768

Capital and reserves

 

Called up share capital

9

55,629

55,629

Revaluation reserve

1,781,350

1,803,128

Other reserves

55,628

55,628

Retained earnings

412,749

1,493,383

Shareholders' funds

 

2,305,356

3,407,768

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Stone House Home Limited

(Registration number: 02079597)
Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................

Mr A Dhanani
Director

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
Bishopstone Road
Stone
Aylesbury
HP17 8QX

These financial statements were authorised for issue by the Board on 5 February 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

The current income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Land and buildings are initially recognised at cost. Freehold land is subsequently carried at the revalued amount less accumulated impairment losses. Buildings are subsequently carried at the revalued amounts less accumulated depreciation and accumulated impairment losses.

Land and buildings are revalued by the directors whenever their carrying amounts are likely to differ materially from their revalued amounts. When an asset is revalued, any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset. The net amount is then restated to the revalued amount of the asset.

Increases in carrying amounts arising from revaluation, including currency translation differences, are recognised in the revaluation reserve, unless they offset previous decreases in the carrying amounts of the same asset, in which case, they are recognised in profit or loss. Decreases in carrying amounts that offset previous increases of the same asset are recognised against the asset revaluation reserve. All other decreases in carrying amounts are recognised as a loss in the statement of comprehensive income.

All other tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Nil

Freehold buildings and land improvements

2% straight line basis

Equipment

10% straight line basis

Motor vehicle

20% straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Asset class

Amortisation method and rate

Website costs

33.33% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at the lower of cost and net realisable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 49 (2023 - 51).

4

Intangible assets

Website costs
 £

Total
£

Cost or valuation

At 1 March 2023

5,664

5,664

At 29 February 2024

5,664

5,664

Amortisation

At 1 March 2023

5,664

5,664

At 29 February 2024

5,664

5,664

Carrying amount

At 29 February 2024

-

-

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

3,571,038

545,869

11,314

4,128,221

Additions

8,571

58,751

-

67,322

At 29 February 2024

3,579,609

604,620

11,314

4,195,543

Depreciation

At 1 March 2023

264,200

327,506

11,314

603,020

Charge for the year

46,579

34,058

-

80,637

At 29 February 2024

310,779

361,564

11,314

683,657

Carrying amount

At 29 February 2024

3,268,830

243,056

-

3,511,886

At 28 February 2023

3,306,838

218,363

-

3,525,201

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Revaluation

The company's freehold land and buildings were revalued on 28 February 2017. An independent valuer was not involved. The basis for this valuation was market value. Had this class of asset been measured on a historical cost basis, the cost would have been £1,642,686 (2023: £1,634,115), depreciation would have been £509,864 (2023: £476,980) and the carrying amount would have been £1,124,453 (2023 - £1,157,135).

6

Stocks

2024
£

2023
£

Other inventories

5,388

5,198

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

13,266

22,271

Amounts owed by group undertakings and undertakings in which the company has a participating interest

12

846,305

1,729,841

Prepayments

 

-

13,016

Other debtors

 

175,026

149,998

 

1,034,597

1,915,126

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

84,603

56,707

Trade creditors

 

16,633

25,154

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

869,820

855,680

Taxation and social security

 

776,142

673,588

Accruals and deferred income

 

73,510

16,496

Other creditors

 

79,104

89,191

 

1,899,812

1,716,816

 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

236,933

229,981

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

100 Ordinary shares of £1 each

55,629

55,629

55,629

55,629

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

236,933

229,981

Current loans and borrowings

2024
£

2023
£

Bank borrowings

36,949

56,707

Bank overdrafts

47,654

-

84,603

56,707

The company's bank borrowings are secured by a legal charge over the company's land and buildings, a debenture, and directors' personal guarantee.

11

Dividends

2024

2023

£

£

Interim dividend of £25.17 (2023 - £7.62) per ordinary share

1,400,000

423,893

 

 
 

The Stone House Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

12

Related party transactions

Loans to directors and company secretary

2024

Loan 1
£

Loan 2
£

Loan 3
£

Total
£

At start of period

630,000

(1)

629,999

1,259,998

Repaid

(444,269)

1

(444,268)

(888,536)

At end of period

185,731

-

185,731

371,462

2023

Loan 1
£

Loan 2
£

Loan 3
£

Total
£

At start of period

484,689

539,677

224,969

1,249,335

Advanced

145,311

-

405,030

550,341

Repaid

-

(539,678)

-

(539,678)

At end of period

630,000

(1)

629,999

1,259,998

Terms of loans to related parties

Interest is charged by the company at the official rate of interest.