Company registration number 03488210 (England and Wales)
CLARENDON CARE GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CLARENDON CARE GROUP LIMITED
COMPANY INFORMATION
Directors
Mr H D James
Mrs C S James
Mrs C E Potter
Company number
03488210
Registered office
Walton Lodge
Walton Pool
Clent
Stourbridge
United Kingdom
DY9 9RP
Auditor
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CLARENDON CARE GROUP LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Profit and loss account
7
Group statement of comprehensive income
8
Group balance sheet
9 - 10
Company balance sheet
11 - 12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 32
CLARENDON CARE GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
The directors present the strategic report for the year ended 30 June 2024.
Review of the business
The group is committed to providing the highest quality residential and nursing care. The group has been able to maintain it's occupancies through strong local connections and offering well run care homes.
The results and the financial position of the group are shown in the financial statements. Both the level of business and the year end financial position were satisfactory and the directors expect that the level of activity will be sustained for the foreseeable future.
The directors are not, at the date of this report, aware of any major changes in the group's principal activities in the year ahead.
Principal risks and uncertainties
The group has a robust strategy and at the date of this report there are no principal risks and uncertainties.
Environment
The group recognises the importance of its environmental responsibilities, monitors its impact on the environment and designs and implements policies to mitigate any adverse impact that might be caused by its activities.
Employees
Details of the number of employees and related costs can be found in note 6 of the accounts.
Mr H D James
Director
27 February 2025
CLARENDON CARE GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
The directors present their annual report and financial statements for the year ended 30 June 2024.
Principal activities
The principal activity of the company and group continued to be that of providing residential and nursing care for the elderly.
Results and dividends
The results for the year are set out on page 7.
Ordinary dividends were paid amounting to £200,000. The directors do not recommend payment of a further dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr H D James
Mrs C S James
Mrs C E Potter
Auditor
Ormerod Rutter were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution that they be re-appointed will be put at a general meeting.
Statement of directors' responsibilities
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the ;
prepare the on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.
CLARENDON CARE GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
Mr H D James
Director
27 February 2025
CLARENDON CARE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLARENDON CARE GROUP LIMITED
- 4 -
Opinion
We have audited the financial statements of Clarendon Care Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and the parent company's affairs as at 30 June 2024 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
CLARENDON CARE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLARENDON CARE GROUP LIMITED
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations including those that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, and the extent to which non-compliance might have a material effect on the financial statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed included:
Discussions with management, including consideration of known or suspected instances of non compliance with laws and regulation and fraud;
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; entries posted containing unusual account descriptions, and entries posted with unusual amounts;
Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; and
Challenging assumptions and judgements made by management in their significant accounting estimates.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
CLARENDON CARE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLARENDON CARE GROUP LIMITED
- 6 -
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Colm McGrory FCA
For and on behalf of
12 March 2025
Ormerod Rutter Limited
Chartered Accountants
Statutory Auditor
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CLARENDON CARE GROUP LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
2024
2023
Notes
£
£
Turnover
8,158,141
7,713,275
Cost of sales
(4,401,254)
(4,355,762)
Gross profit
3,756,887
3,357,513
Administrative expenses
(2,771,280)
(2,672,759)
Other operating income
11,047
8,230
Operating profit
3
996,654
692,984
Interest payable and similar expenses
6
(424,180)
(291,199)
Profit before taxation
572,474
401,785
Tax on profit
7
(205,168)
(142,033)
Profit for the financial year
367,306
259,752
Profit for the financial year is attributable to:
- Owners of the parent company
302,180
203,697
- Non-controlling interests
65,126
56,055
367,306
259,752
CLARENDON CARE GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
2024
2023
£
£
Profit for the year
367,306
259,752
Other comprehensive income
Revaluation of tangible fixed assets
(384)
(384)
Cash flow hedges gain arising in the year
Total comprehensive income for the year
366,922
259,368
Total comprehensive income for the year is attributable to:
- Owners of the parent company
301,796
203,313
- Non-controlling interests
65,126
56,055
366,922
259,368
CLARENDON CARE GROUP LIMITED
GROUP BALANCE SHEET
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
9
1
1
Tangible assets
10
6,204,497
6,430,183
6,204,498
6,430,184
Current assets
Stocks
13
1,775
1,775
Debtors
14
5,340,449
6,264,954
Cash at bank and in hand
1,666,076
431,404
7,008,300
6,698,133
Creditors: amounts falling due within one year
15
(4,495,599)
(4,466,196)
Net current assets
2,512,701
2,231,937
Total assets less current liabilities
8,717,199
8,662,121
Creditors: amounts falling due after more than one year
16
(5,918,891)
(5,984,119)
Provisions for liabilities
Deferred tax liability
19
116,404
116,404
(116,404)
(116,404)
Net assets
2,681,904
2,561,598
Capital and reserves
Called up share capital
21
2,088
2,088
Revaluation reserve
60,812
61,196
Capital redemption reserve
110
110
Profit and loss reserves
1,881,284
1,778,720
Equity attributable to owners of the parent company
1,944,294
1,842,114
Non-controlling interests
737,610
719,484
2,681,904
2,561,598
CLARENDON CARE GROUP LIMITED
GROUP BALANCE SHEET (CONTINUED)
- 10 -
These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
27 February 2025
Mr H D James
Director
Company registration number 03488210 (England and Wales)
CLARENDON CARE GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
2,860,040
2,993,437
Investments
11
46,276
46,276
2,906,316
3,039,713
Current assets
Stocks
13
500
500
Debtors
14
7,722,749
8,743,175
Cash at bank and in hand
1,397,138
323,440
9,120,387
9,067,115
Creditors: amounts falling due within one year
15
(4,438,419)
(4,572,705)
Net current assets
4,681,968
4,494,410
Total assets less current liabilities
7,588,284
7,534,123
Creditors: amounts falling due after more than one year
16
(5,918,891)
(5,984,119)
Provisions for liabilities
Deferred tax liability
19
74,866
74,866
(74,866)
(74,866)
Net assets
1,594,527
1,475,138
Capital and reserves
Called up share capital
21
2,088
2,088
Revaluation reserve
60,812
61,196
Capital redemption reserve
110
110
Profit and loss reserves
1,531,517
1,411,744
Total equity
1,594,527
1,475,138
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £319,389 (2023 - £142,287 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
CLARENDON CARE GROUP LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 12 -
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
27 February 2025
Mr H D James
Director
Company registration number 03488210 (England and Wales)
CLARENDON CARE GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 July 2022
2,088
61,580
110
1,804,639
1,868,417
675,429
2,543,846
Year ended 30 June 2023:
Profit for the year
-
-
-
203,697
203,697
56,055
259,752
Other comprehensive income:
Revaluation of tangible fixed assets
-
(384)
-
-
(384)
-
(384)
Total comprehensive income
-
(384)
-
203,697
203,313
56,055
259,368
Dividends
8
-
-
-
(230,000)
(230,000)
(12,000)
(242,000)
Transfers
-
-
-
384
384
-
384
Balance at 30 June 2023
2,088
61,196
110
1,778,720
1,842,114
719,484
2,561,598
Year ended 30 June 2024:
Profit for the year
-
-
-
302,180
302,180
65,126
367,306
Other comprehensive income:
Revaluation of tangible fixed assets
-
(384)
-
-
(384)
-
(384)
Total comprehensive income
-
(384)
-
302,180
301,796
65,126
366,922
Dividends
8
-
-
-
(200,000)
(200,000)
(47,000)
(247,000)
Transfers
-
-
-
384
384
-
384
Balance at 30 June 2024
2,088
60,812
110
1,881,284
1,944,294
737,610
2,681,904
CLARENDON CARE GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 July 2022
2,088
61,580
110
1,499,073
1,562,851
Year ended 30 June 2023:
Profit for the year
-
-
-
142,287
142,287
Other comprehensive income:
Revaluation of tangible fixed assets
-
(384)
-
-
(384)
Total comprehensive income
-
(384)
-
142,287
141,903
Dividends
8
-
-
-
(230,000)
(230,000)
Transfers
-
-
-
384
384
Balance at 30 June 2023
2,088
61,196
110
1,411,744
1,475,138
Year ended 30 June 2024:
Profit for the year
-
-
-
319,389
319,389
Other comprehensive income:
Revaluation of tangible fixed assets
-
(384)
-
-
(384)
Total comprehensive income
-
(384)
-
319,389
319,005
Dividends
8
-
-
-
(200,000)
(200,000)
Transfers
-
-
-
384
384
Balance at 30 June 2024
2,088
60,812
110
1,531,517
1,594,527
CLARENDON CARE GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
2,164,149
86,234
Interest paid
(424,180)
(291,199)
Income taxes paid
(125,446)
(83,598)
Net cash inflow/(outflow) from operating activities
1,614,523
(288,563)
Investing activities
Purchase of tangible fixed assets
(98,570)
(418,960)
Proceeds from disposal of tangible fixed assets
46,751
195,598
Net cash used in investing activities
(51,819)
(223,362)
Financing activities
Payment of finance leases obligations
(81,032)
41,996
Dividends paid to equity shareholders
(200,000)
(230,000)
Dividends paid to non-controlling interests
(47,000)
(12,000)
Net cash used in financing activities
(328,032)
(200,004)
Net increase/(decrease) in cash and cash equivalents
1,234,672
(711,929)
Cash and cash equivalents at beginning of year
431,404
1,143,333
Cash and cash equivalents at end of year
1,666,076
431,404
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
1
Accounting policies
Company information
Clarendon Care Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Walton Lodge, Walton Pool, Clent, Stourbridge, West Midlands, DY9 9RP.
The group consists of Clarendon Care Group Limited and all of its subsidiaries.
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.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Clarendon Care Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 17 -
1.3
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.5
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years for goodwill acquired and 5 years for goodwill arising on consolidation.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.6
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Website
10 years
1.7
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.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 18 -
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:
Freehold land and buildings
2% on cost
Leasehold land and buildings
Over the term of the lease
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
Investment assets
Not depreciated
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 recognised in the profit and loss account.
Investment assets are deemed to have an indefinite useful life and as such are not subject to depreciation.
1.8
Fixed asset investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the parent company financial statements, investments in associates are accounted for at cost less impairment.
Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 19 -
1.9
Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.10
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.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.11
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.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 20 -
1.12
Financial instruments
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 21 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
1.13
Equity instruments
Equity instruments issued by the group 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 group.
1.14
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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 22 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.15
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.16
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.17
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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 leased asset are consumed.
1.18
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 23 -
2
Judgements and key sources of estimation uncertainty
In the application of the group’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
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Fees payable to the group's auditor for the audit of the group's financial statements
10,380
8,700
Depreciation of owned tangible fixed assets
287,255
306,046
Profit on disposal of tangible fixed assets
(9,750)
(62,360)
Operating lease charges
72,056
55,504
4
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
173
181
86
103
Their aggregate remuneration comprised:
Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
4,252,284
4,317,567
2,221,214
2,341,674
Social security costs
320,260
277,629
228,780
186,533
Pension costs
70,478
99,333
49,950
77,732
4,643,022
4,694,529
2,499,944
2,605,939
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 24 -
5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
131,000
136,200
Company pension contributions to defined contribution schemes
1,321
41,321
132,321
177,521
6
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
424,180
291,199
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
221,755
142,033
Adjustments in respect of prior periods
(16,587)
Total current tax
205,168
142,033
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
572,474
401,785
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
143,119
76,339
Tax effect of expenses that are not deductible in determining taxable profit
26,990
22,128
Tax effect of income not taxable in determining taxable profit
(2,373)
Adjustments in respect of prior years
(16,587)
Permanent capital allowances in excess of depreciation
(19,218)
34,683
Depreciation on assets not qualifying for tax allowances
71,812
Tax at marginal rate
10,477
Other timing differences
(947)
779
Corporation tax rounding
(1)
Taxation charge
205,168
142,033
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 25 -
8
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
200,000
230,000
9
Intangible fixed assets
Group
Goodwill
Website
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
507,813
1
507,814
Amortisation and impairment
At 1 July 2023 and 30 June 2024
507,813
507,813
Carrying amount
At 30 June 2024
1
1
At 30 June 2023
1
1
Company
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
235,000
Amortisation and impairment
At 1 July 2023 and 30 June 2024
235,000
Carrying amount
At 30 June 2024
At 30 June 2023
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 26 -
10
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Investment assets
Total
£
£
£
£
£
£
£
Cost
At 1 July 2023
6,547,975
593,625
958,529
1,412,666
484,029
9,996,824
Additions
20,082
47,344
16,194
14,950
98,570
Disposals
(15,524)
(60,718)
(76,242)
Transfers
(19,900)
19,900
At 30 June 2024
6,547,975
578,101
978,611
1,460,010
419,605
34,850
10,019,152
Depreciation and impairment
At 1 July 2023
1,426,862
171,540
721,203
1,152,888
94,148
3,566,641
Depreciation charged in the year
105,319
6,569
39,894
43,013
92,460
287,255
Eliminated in respect of disposals
(15,523)
(23,718)
(39,241)
At 30 June 2024
1,532,181
162,586
761,097
1,195,901
162,890
3,814,655
Carrying amount
At 30 June 2024
5,015,794
415,515
217,514
264,109
256,715
34,850
6,204,497
At 30 June 2023
5,121,113
422,085
237,326
259,778
389,881
6,430,183
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 27 -
Company
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Investment assets
Total
£
£
£
£
£
Cost
At 1 July 2023
3,238,576
1,412,666
440,044
5,091,286
Additions
47,344
16,194
14,950
78,488
Disposals
(60,718)
(60,718)
At 30 June 2024
3,238,576
1,460,010
395,520
14,950
5,109,056
Depreciation and impairment
At 1 July 2023
856,363
1,152,888
88,598
2,097,849
Depreciation charged in the year
44,230
43,013
87,642
174,885
Eliminated in respect of disposals
(23,718)
(23,718)
At 30 June 2024
900,593
1,195,901
152,522
2,249,016
Carrying amount
At 30 June 2024
2,337,983
264,109
242,998
14,950
2,860,040
At 30 June 2023
2,382,213
259,778
351,446
2,993,437
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
Group
Company
2024
2023
2024
2023
£
£
£
£
Motor vehicles
202,012
333,755
202,012
314,888
Included in the cost of land and buildings is freehold land of £802,750 (2023: £802,750) which is not depreciated.
11
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
12
46,276
46,276
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
11
Fixed asset investments
(Continued)
- 28 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023 and 30 June 2024
46,276
Carrying amount
At 30 June 2024
46,276
At 30 June 2023
46,276
12
Subsidiaries
Details of the company's subsidiaries at 30 June 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Chandos Lodge Limited
England and Wales
Ordinary
100.00
Arden Park Care Limited
England and Wales
Ordinary
51.00
Northwick Grange Care Limited
England and Wales
Ordinary
50.00
Northwick Grange Limited
England and Wales
Ordinary
100.00
13
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
1,775
1,775
500
500
14
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
815,289
647,745
330,908
276,162
Amounts owed by group undertakings
-
-
2,928,259
2,921,457
Other debtors
4,459,983
5,511,026
4,417,455
5,468,827
Prepayments and accrued income
65,177
106,183
46,127
76,729
5,340,449
6,264,954
7,722,749
8,743,175
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 29 -
15
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under finance leases
18
29,598
45,402
29,598
38,360
Trade creditors
219,751
303,284
122,735
147,287
Amounts owed to group undertakings
605,359
549,232
Corporation tax payable
221,755
142,033
143,266
67,080
Other taxation and social security
70,230
83,462
50,577
60,756
Other creditors
3,548,338
3,478,102
3,251,475
3,473,012
Accruals and deferred income
405,927
413,913
235,409
236,978
4,495,599
4,466,196
4,438,419
4,572,705
16
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
17
5,724,390
5,724,390
5,724,390
5,724,390
Obligations under finance leases
18
194,501
259,729
194,501
259,729
5,918,891
5,984,119
5,918,891
5,984,119
17
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
5,724,390
5,724,390
5,724,390
5,724,390
Payable after one year
5,724,390
5,724,390
5,724,390
5,724,390
The long-term loans are secured by way of fixed and floating charges over the assets of the company.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 30 -
18
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
29,598
45,402
29,598
38,360
In two to five years
194,501
259,729
194,501
259,729
224,099
305,131
224,099
298,089
Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
19
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
116,404
116,404
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
74,866
74,866
There were no deferred tax movements in the year.
20
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
70,478
99,333
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 31 -
21
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2,000
2,000
2,000
2,000
Ordinary B of £1 each
88
88
88
88
2,088
2,088
2,088
2,088
22
Related party transactions
The following amounts were outstanding at the reporting end date:
Amounts due to related parties
2024
2023
£
£
Group
Other related parties
3,696,354
3,175,034
The following amounts were outstanding at the reporting end date:
Amounts due from related parties
2024
2023
Balance
Balance
£
£
Group
Other related parties
3,780,556
3,401,997
23
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
367,306
259,752
Adjustments for:
Taxation charged
205,168
142,033
Finance costs
424,180
291,199
Gain on disposal of tangible fixed assets
(9,750)
(62,360)
Depreciation and impairment of tangible fixed assets
287,255
306,046
Movements in working capital:
Decrease/(increase) in debtors
924,505
(1,899,595)
(Decrease)/increase in creditors
(34,515)
1,049,159
Cash generated from operations
2,164,149
86,234
CLARENDON CARE GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 32 -
24
Analysis of changes in net debt - group
1 July 2023
Cash flows
30 June 2024
£
£
£
Cash at bank and in hand
431,404
1,234,672
1,666,076
Borrowings excluding overdrafts
(5,724,390)
-
(5,724,390)
Obligations under finance leases
(305,131)
81,032
(224,099)
(5,598,117)
1,315,704
(4,282,413)
2024-06-302023-07-01falsefalseCCH SoftwareCCH Accounts Production 2024.310Mr H D JamesMrs C S JamesMrs C E 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