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REGISTERED NUMBER: 11960965 (England and Wales)









BEECHCROFT HOME LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BEECHCROFT HOME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: T D Gow-Smith
J K Gow-Smith





REGISTERED OFFICE: Holmfield
Grafton Road
Torquay
Devon
TQ1 1QJ





REGISTERED NUMBER: 11960965 (England and Wales)





AUDITORS: WP Audit Services LLP
Chartered Accountant & Statutory Auditor
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 5,000 6,000
Tangible assets 6 4,468,995 4,189,033
4,473,995 4,195,033

CURRENT ASSETS
Stocks 1,201 1,201
Debtors 7 57,659 181,374
58,860 182,575
CREDITORS
Amounts falling due within one year 8 4,180,730 4,116,495
NET CURRENT LIABILITIES (4,121,870 ) (3,933,920 )
TOTAL ASSETS LESS CURRENT LIABILITIES 352,125 261,113

PROVISIONS FOR LIABILITIES 10 186,538 96,538
NET ASSETS 165,587 164,575

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 165,487 164,475
165,587 164,575

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





T D Gow-Smith - Director


BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Beechcroft Home 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors’ believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
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 companies within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key estimates made are as follows:

1) Impairment to property
The directors have assessed the value of the property as a whole and feel that the value attributed to it is far in excess of the cost value, based on future generatable profits and revenue levels. On this basis they feel no impairment is considered necessary. The property was in the process of being renovated in the year, and this has now been completed.

2) Provisions
The directors have calculated an estimated provision associated with non compliance with laws and regulations. This has been calculated based on the expected maximum liability arising, and has then been adjusted for expected actual payments that may be required. As the total level of the liability is impacted by interpretation of the regulations this is considered to be an appropriate approach.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents net invoiced residential care home fees and is recognised per night that a room is occupied.

Turnover is deferred where amounts have been invoiced, but these relate to services to be provided in future periods. Turnover is accrued where amounts have yet to be invoiced, but where the services have been provided in the period to date.

Intangible assets
Intangible assets are solely relating to goodwill. Goodwill relates to the acquisition of the continuing trade from a group company. It was acquired in 2020 and is being written off over it's useful economic life of ten years.

BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property - straight line over 50 years
Land - not depreciated
Improvements to property - straight line over 50 years and over 49 years* / **
Fixtures and fittings - 15% on reducing balance

* Some assets classified as improvements to property were transferred from the company's parent company at the end of the year to 31 May 2022 and it was at this point they were all deemed to have had a remaining economic useful life of 49 years. The Properties purchased in the year were considered to have a useful life of 50 years.

** Assets relating to Cary Lodge are not depreciated as these have not been brought into use until after the year end.

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash
Cash is held in the parent company on behalf of the company. This company holds petty cash but does not have it's own bank account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

Provisions also comprise an amount that may be payable in relation to liabilities arising from non-compliance with laws and regulations. The provision has been based on an estimated liability. The final amounts will be dependent on the interpretation of the legislation.

Grant income
Income received in relation to grants are classified either as relating to revenue or to assets.

Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Where a timing difference arises, the income is held on the balance sheet. When received in arrears the expected income is recognises as a debtor so long as the relevant conditions have been satisfied. When received in advance of costs, the income is held as deferred income and systematically released to the profit and loss in the periods the cost is incurred.

Grants relating to assets are recognised initially as deferred income and released to other income on a systematic basis over the expected useful life of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023 4,000
Amortisation for year 1,000
At 31 May 2024 5,000
NET BOOK VALUE
At 31 May 2024 5,000
At 31 May 2023 6,000

BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property Land property fittings Totals
£    £    £    £    £   
COST
At 1 June 2023 2,571,000 284,000 1,264,362 222,742 4,342,104
Additions - - 299,837 62,766 362,603
At 31 May 2024 2,571,000 284,000 1,564,199 285,508 4,704,707
DEPRECIATION
At 1 June 2023 102,840 - 41,234 8,997 153,071
Charge for year 51,420 - 22,623 8,598 82,641
At 31 May 2024 154,260 - 63,857 17,595 235,712
NET BOOK VALUE
At 31 May 2024 2,416,740 284,000 1,500,342 267,913 4,468,995
At 31 May 2023 2,468,160 284,000 1,223,128 213,745 4,189,033

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 83,726
Other debtors - 12,000
Tax 22,355 18,050
Prepayments and accrued income 35,304 67,598
57,659 181,374

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,469 77,488
Amounts owed to group undertakings 4,082,704 3,976,049
Taxation and social security 33,707 16,114
Other creditors 32,850 46,844
4,180,730 4,116,495

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

9. SECURED DEBTS

The Royal Bank of Scotland PLC has a fixed and floating charge over all the property and undertakings of the company, in relation to a group level facility. This contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 174,000 84,000
Other provisions 12,538 12,538
186,538 96,538

BEECHCROFT HOME LIMITED (REGISTERED NUMBER: 11960965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 June 2023 84,000 12,538
Provided during year 90,000 -
Balance at 31 May 2024 174,000 12,538

Other provisions comprise an estimated amount that may be payable in relation to liabilities arising from historic non-compliance with laws and regulations.

The provision has been based on an estimate and the actual amount payable will be dependent on the interpretation of the legislation and the outcome of the efforts undertaken post year end to resolve the issue.

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

The Report of the Auditors was unqualified.

Mrs S Williams (Senior Statutory Auditor)
for and on behalf of WP Audit Services LLP

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T D Gow-Smith.

These financial statements contain information about Beechcroft Home Limited as an individual company. It is included by full consolidation in the consolidated financial statements of its immediate and ultimate parent company, Beechcroft Care Homes Limited (Company Number: 06237795). The consolidated accounts of Beechcroft Care Homes Limited can be found at Companies House.