BRICKLEHAMPTON CLASSIC CARE LIMITED |
Group Strategic Report |
|
The director presents their strategic report of the the group for the year ended 31 March 2024. |
Business review |
|
The directors consider that the key performance indicators of the group to be turnover, operating profit and net financial debt. |
|
Trading results |
Consolidated turnover of the group for the period ended 31 March 2024 was £2,593,911 (2023: £2,557,970). Consolidated operating profit before taxation was £349,811 (2023: £366,377 ). |
|
Business Environment |
The care home market is competitive and highly regulated. The group companies hold licence to operate the care home and receives regular inspections from Care Quality Commission and other agencies. The group companies continue to work with relevant authorities to maintain and improve the standard of care that management strives to provide. |
|
Strategy |
The group is committed to the provision of care, where each person is treated as an individual within a community that supports activity, independence and choice. The group will continue to provide attractive working environment with the aim to retain quality nursing and other qualified team members. The group will reply on professionalism and efficiency of their quality staff to satisfy the needs of residents and to ensure smooth running of the home which in turn will provide an atmosphere to attract new residents. |
Principal risks and uncertainties |
|
The principal risks and uncertainties facing the group are as follows: The principal commercial risk that the group faces is a loss of reputation of the care home through any adverse reports from the relevant regulators. The directors have made arrangements to ensure that standards are maintained and enhanced through their support and the employment and retention of professional staff members and the maintenance of high quality facilities. The principal financial risk to the group is attributable to its bank loan. The group maintains a liquidity buffer which is based on its liquidity needs. The liquidity buffer is monitored on a daily basis to ensure there are sufficient liquid assets to meet all of its financial obligations including bank loan interest and capital repayments. The group balance sheet is strong to meet its all financial commitments. |
Key Performance Indicators |
|
The directors, who are the key management, use financial measures such as profitability, turnover and qualified staff to monitor performance as these are considered to be the main drivers of the continued success of the company. Turnover and profitability are measured on the same basis as that seen in the profit and loss account. |
|
Future Prospects |
|
The directors do not expect any change in the activities of the company in the foreseeable future. There have not been any material post balance sheet events. |
|
This report was approved by the board on 18 March 2025 and signed on its behalf. |
|
|
Mr Jabriel Ejaz Raja |
Director |
|
|
Basis for opinion |
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 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 entity's ability to continue as a going concern for a period of at least 12 months from the date 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. |
|
Other information |
The other information comprises the information included in the report and financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the audit: |
● |
the information given in the Group 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 Group strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. |
|
Matters on which we are required to report by exception |
Auditor’s responsibilities for the audit of the accounts |
Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts. |
|
Irregularities include fraud and other Instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. |
|
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
● |
Enquiry of management and those charged with governance around actual and potential litigations and claims; |
● |
Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations; |
● |
Reviewing minutes of meetings of those charged with governance; |
● |
Reviewing financial statement disclosure and testing to supporting documents to assess compliance with applicable laws and regulations; |
● |
Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business, and reviewing accounting estimates for bids. |
|
A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. |
|
Use of our report |
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 them in as 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. |
|
|
Mr Opinder Singh Sawhney |
(Senior Statutory Auditor) |
Harrow Business Centre |
for and on behalf of |
429-433 Pinner Road |
Sawhney Consulting |
North Harrow |
Accountants and Statutory Auditors |
Middlesex |
18 March 2025 |
HA1 4HN |
|
BRICKLEHAMPTON CLASSIC CARE LIMITED |
Consolidated Statement of Cash Flows |
for the year ended 31 March 2024 |
|
Notes |
|
2024 |
|
2023 |
£ |
£ |
Operating activities |
Profit for the period |
250,470 |
|
300,262 |
|
Interest received |
(37,458) |
|
(12,395) |
Interest paid |
85,868 |
|
54,135 |
Tax on profit on ordinary activities |
99,341 |
|
66,115 |
Depreciation |
123,348 |
|
123,615 |
Amortisation of goodwill |
64,638 |
|
64,638 |
Decrease/(increase) in debtors |
219,076 |
|
(316,158) |
Decrease in creditors |
(291,957) |
|
(27,472) |
|
|
|
513,326 |
|
252,740 |
|
Interest received |
37,458 |
|
12,395 |
Interest paid |
|
|
(85,868) |
|
(54,135) |
Corporation tax paid |
(113,428) |
|
(65,846) |
|
Cash generated by operating activities |
351,488 |
|
145,154 |
|
|
|
|
|
|
Investing activities |
Payments to acquire tangible fixed assets |
(66,186) |
|
(43,178) |
|
Cash used in investing activities |
(66,186) |
|
(43,178) |
|
|
|
|
|
|
Financing activities |
Repayment of loans |
(41,353) |
|
51,014 |
Capital element of finance lease payments |
- |
|
- |
|
Cash (used in)/generated by financing activities |
(41,353) |
|
51,014 |
|
|
|
|
|
|
Net cash generated |
Cash generated by operating activities |
351,487 |
|
145,154 |
Cash used in investing activities |
(66,186) |
|
(43,178) |
Cash used in financing activities |
(41,353) |
|
(51,014) |
|
Net cash generated |
243,948 |
|
50,962 |
|
Cash and cash equivalents at 1 April |
990,180 |
|
939,218 |
Cash and cash equivalents at 31 March |
1,234,128 |
|
990,180 |
|
|
|
|
|
|
Cash and cash equivalents comprise: |
Cash at bank |
1,234,128 |
|
990,180 |
Bank overdrafts |
- |
|
- |
|
|
|
1,234,128 |
|
990,180 |
|
|
|
|
|
|
|
|
|
- |
|
- |
|
|
|
- |
|
- |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Operating Leases |
|
Rentals paid and received under operating leases are included in the profit and loss accounts on a straight line basis over the period of the leases. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
2 |
Audit information |
|
|
The audit report is unqualified. |
|
Senior statutory auditor: |
|
Mr Opinder Singh Sawhney |
|
Firm: |
|
Sawhney Consulting |
|
Date of audit report: |
|
18 March 2025 |
|
|
3 |
Analysis of turnover |
2024 |
2023 |
£ |
£ |
|
Rendering of services |
2,593,911 |
2,557,970 |
|
|
|
|
|
|
|
2,593,911 |
2,557,970 |
|
|
|
|
|
|
|
|
|
4 |
Operating profit |
2024 |
2023 |
£ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
123,348 |
123,615 |
|
Amortisation of goodwill |
64,638 |
64,638 |
|
Operating lease rentals - plant and machinery |
867 |
677 |
|
Auditors' remuneration for audit services |
7,000 |
5,958 |
|
|
|
|
|
|
|
|
|
5 |
Directors' emoluments |
2024 |
2023 |
£ |
£ |
|
|
Emoluments |
- |
- |
|
Contributions to defined contribution pension plans |
- |
- |
|
|
|
|
|
|
|
- |
- |
|
|
|
|
|
|
|
|
|
6 |
Staff costs |
2024 |
2023 |
£ |
£ |
|
|
Wages and salaries - Direct cost |
1,402,878 |
1,312,074 |
|
|
|
|
|
|
|
1,402,878 |
1,312,074 |
|
|
|
|
|
|
|
|
|
|
7 |
Average number of employees during the year |
Number |
Number |
|
|
Director |
2 |
2 |
|
Staff |
66 |
66 |
|
|
|
|
|
|
|
68 |
68 |
|
|
|
|
|
|
|
|
|
8 |
Interest payable |
2024 |
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
85,868 |
54,135 |
|
9 |
Taxation |
2024 |
2023 |
£ |
£ |
|
Analysis of charge in period |
|
UK corporation tax on profits of the period |
99,341 |
66,115 |
|
|
|
|
|
|
|
99,341 |
66,115 |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
- |
- |
|
|
Tax on profit on ordinary activities |
99,341 |
66,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
2023 |
£ |
£ |
|
Profit on ordinary activities before tax |
349,811 |
366,377 |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
19% |
|
£ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
|
|
|
|
87,453 |
69,612 |
|
Expenses not deductible for tax purposes |
11,888 |
(3,497) |
|
|
Current tax charge for period |
99,341 |
66,115 |
|
|
|
|
|
|
|
|
|
|
10 |
Intangible fixed assets : Group |
£ |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2023 |
1,292,773 |
1,292,773 |
|
At 31 March 2024 |
1,292,773 |
1,292,773 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2023 |
711,022 |
711,022 |
|
Provided during the year |
64,638 |
64,638 |
|
At 31 March 2024 |
775,660 |
775,660 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2024 |
517,113 |
517,113 |
|
At 31 March 2023 |
581,751 |
581,751 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
|
11 |
Tangible fixed assets - GROUP |
|
|
|
Freehold Land & Buildings |
|
Office Equipements & Furniture & Fixtures |
|
Plant & Machinery |
Total |
|
|
|
At cost |
|
At cost |
|
At cost |
£ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2023 |
3,200,000 |
|
860,080 |
|
513,651 |
4,573,731 |
|
Additions |
- |
|
66,186 |
|
- |
66,186 |
|
At 31 March 2024 |
3,200,000 |
|
926,266 |
|
513,651 |
4,639,917 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
603,727 |
|
571,945 |
|
502,578 |
1,678,250 |
|
Charge for the year |
67,081 |
|
53,375 |
|
2,892 |
123,348 |
|
At 31 March 2024 |
670,808 |
|
625,320 |
|
505,470 |
1,801,598 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2024 |
2,529,192 |
|
300,946 |
|
8,181 |
2,838,319 |
|
At 31 March 2023 |
2,596,273 |
|
288,135 |
|
11,073 |
2,895,481 |
|
|
|
|
|
|
|
|
|
|
Included in cost or valuation ofland and buildings is freehold land of £500,000 (2020 - £500,000) which is not depreciated. Cost or valuation at 31 March 2022 in represented by |
|
|
|
|
|
|
Freehold Land & |
|
Plant & |
|
|
|
|
|
Building |
|
Machinery Total |
Total |
|
|
|
|
|
£ |
|
£ |
£ £ |
|
Valuation in 2006 |
738,712.00 |
|
|
738,712 |
|
Valuation in 2011 |
866,103 |
|
|
866,103 |
|
Valuation in 2014 |
(703,459) |
|
|
(703,459) |
|
Cost |
2,298,644 |
|
988,775 |
3,287,419 |
|
|
|
|
|
|
3,200,000 |
|
988,775 |
4,188,775 |
|
|
|
|
|
|
|
|
|
|
If the freehold property had not been revalued it would have been included at the following historical cost |
|
|
|
|
|
|
|
|
2,021 |
2020 |
|
|
|
|
|
|
|
£ |
£ |
|
Cost |
2,298,644 |
2298644 |
|
|
|
|
|
|
|
|
|
|
Aggerate depreciation |
(469,565) |
-402484 |
|
|
|
|
|
|
|
|
|
|
Value of land in freehold land and building |
500,000 |
500,000 |
|
|
The freehold property was valued on an existing use basis at £3,200,000 at 31st March 2014 by an independent valuer and the company has elected to use this previous UK GAAP valuation as the deemed cost on transition to FRS 102 |
|
|
|
|
The company had given a first charge over its freehold property, with a net book value of £2,529,192 (2023 - £2,596,273) as security for the parent company's bank borrowings. |
|
|
|
Tangible fixed assets - COMPANY |
|
|
|
|
|
Motor Vebicles Total |
|
Total |
Total |
|
|
|
|
|
At cost |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2023 |
10,812 |
|
10,812 |
10,812 |
|
At 31 March 2024 |
10,812 |
|
10,812 |
10,812 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
5,686 |
|
5,686 |
5,686 |
|
Charge for the year |
1,281 |
|
1,281 |
1,281 |
|
At 31 March 2024 |
6,967 |
|
6,967 |
6,967 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2024 |
3,845 |
|
3,845 |
3,845 |
|
|
|
|
|
|
|
|
|
12 |
Individual Income Statement |
|
As permitted by Sec 408 of the Companies Act 2006, the income statement of the parent company is not presented as part of these financial statement. |
|
13 |
Fixed Assets Investments |
Shares in |
|
|
|
|
|
Group |
|
|
|
|
|
undertaking |
|
|
|
|
|
£ |
|
Cost |
4,223,437 |
|
At 1 April 2023 |
|
|
|
|
|
4,223,437 |
|
At 31 March 2024 |
|
|
The Investment represents 100% of the share capital of Classic Care Limited (registered office 6 Highbanks Road, Pinner, Middlesex, HA5 4AR) comprised of ordinary A,B & C shares. The figures for Classic Care Limited are consolidated within these financial statements. |
|
|
|
|
During the period, the company received dividends of £354,595 (2023: £200,000) from Classic Care Limited, a subsidiary company. |
|
14 |
Investment property |
2024 |
|
2023 |
£ |
£ |
Group |
Group |
|
Valuation |
|
At 1 April 2023 |
1,307,618 |
|
1,307,618 |
|
At 31 March 2024 |
1,307,618 |
|
1,307,618 |
|
|
|
|
|
|
|
|
15 |
Debtors |
GROUP |
|
COMPANY |
|
|
|
2024 |
|
2023 |
|
2024 |
2023 |
£ |
£ |
£ |
£ |
|
|
Trade debtors |
123,470 |
|
202,163 |
|
8,498 |
8,498 |
|
Amounts owed by group undertakings |
|
- |
|
150,000 |
|
- |
50,000 |
|
Other debtors |
71,278 |
|
61,661 |
|
43,280 |
29,625 |
|
|
|
194,748 |
|
413,824 |
|
51,778 |
88,123 |
|
|
|
|
|
|
|
|
|
16 |
Creditors: amounts falling due within one year |
|
|
|
GROUP |
|
COMPANY |
|
|
|
2024 |
|
2023 |
|
2024 |
2023 |
£ |
£ |
£ |
£ |
|
Trade creditors |
31,195 |
|
64,618 |
|
354 |
15,100 |
|
Amounts owed to group companies |
- |
|
1,580,351 |
|
- |
140,000 |
|
Other taxes and social security costs |
139,170 |
|
98,674 |
|
31,885 |
29,718 |
|
Bank loans and overdrafts |
138,756 |
|
120,585 |
|
138,756 |
120,585 |
|
Other creditors |
1,508,766 |
|
227,445 |
|
1,474,297 |
1,474,298 |
|
|
|
1,817,887 |
|
2,091,673 |
|
1,645,292 |
1,779,701 |
|
|
|
|
|
|
|
|
|
17 |
Creditors: amounts falling due after one year |
|
|
|
GROUP |
|
COMPANY |
|
|
|
2024 |
|
2023 |
|
2024 |
£ |
£ |
|
|
Bank loans |
995,787 |
|
1,055,311 |
|
995,788 |
1,055,311 |
|
|
|
995,787 |
|
1,055,311 |
|
995,788 |
1,055,311 |
|
|
|
|
|
|
|
|
|
|
|
The banks loans are secured by first legal charge over the freehold properties held by the group companies. |
|
18 |
Other financial commitments |
2024 |
£ |
|
19 |
Share capital |
Nominal |
|
2024 |
|
2024 |
2023 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
|
|
1 |
1 |
|
|
|
|
|
|
|
|
|
20 |
Other reserves |
2024 |
|
2023 |
|
Revaluation reserve |
£ |
£ |
|
At 1 April |
(790,515) |
|
(768,121) |
|
Loss on revaluation of land and buildings |
(22,714) |
|
(22,394) |
|
|
At 31 March |
(813,229) |
|
(790,515) |
|
|
|
|
|
|
|
|
|
21 |
Profit and loss account |
2024 |
2023 |
£ |
£ |
|
At 1 April |
3,772,576 |
3,449,920 |
|
Profit for the financial year |
250,470 |
300,262 |
|
Dividends |
- |
- |
|
Property Depreciation transfer |
22,714 |
22,394 |
|
|
At 31 March |
4,045,760 |
3,772,576 |
|
|
|
|
|
|
|
|
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22 |
Controlling Party |
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The company is wholly owned by BDR Holdings Corp. which is incorporated in British Virgin Islands. |
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The ultimate parent company is Equiom (Guernsey) Limited, which is incorporated in Guernsey, acting as Trustee of Huskards Care Limited Retirement Benefit Plan. |
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23 |
Legal form of entity and country of incorporation |
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BRICKLEHAMPTON CLASSIC CARE LIMITED is a private company limited by shares and incorporated in England. |
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24 |
Principal place of business |
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The address of the company's principal place of business and registered office is: |
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Suite 311 |
|
Harrow Business Centre |
|
Harrow |
|
HA1 4HN |