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Registration number: 06116140

Braemar RCH Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Braemar RCH Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Braemar RCH Limited

Company Information

Directors

Mrs K Sampson

Mr SR Beauchamp

Mrs K Beauchamp

Registered office

Arnewood House
Ringwood Road
Woodlands
Southampton
SO40 7GX

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Braemar RCH Limited

(Registration number: 06116140)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

33,000

44,000

Tangible assets

5

2,163,533

109,497

 

2,196,533

153,497

Current assets

 

Stocks

6

2,329

5,830

Debtors

7

242,982

1,132,457

Cash at bank and in hand

 

58,925

68,700

 

304,236

1,206,987

Creditors: Amounts falling due within one year

8

(1,563,491)

(400,438)

Net current (liabilities)/assets

 

(1,259,255)

806,549

Total assets less current liabilities

 

937,278

960,046

Creditors: Amounts falling due after more than one year

8

-

(164,541)

Provisions for liabilities

(9,641)

(14,080)

Net assets

 

927,637

781,425

Capital and reserves

 

Called up share capital

9

200

200

Capital redemption reserve

100,000

100,000

Retained earnings

827,437

681,225

Shareholders' funds

 

927,637

781,425

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Braemar RCH Limited

(Registration number: 06116140)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 22 March 2025 and signed on its behalf by:
 

.........................................
Mr SR Beauchamp
Director

   
 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Arnewood House
Ringwood Road
Woodlands
Southampton
SO40 7GX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents income receivable from residents and local authorities in respect of care provided over the period of these acconts. The company is not registered for value added tax.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

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

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

 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

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

Asset class

Depreciation method and rate

Motor vehicles

25% Straight line

Fixtures and fittings

20% Straight line

Improvements to property

10% Straight line

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over a its estimated useful life of twenty years.

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

Evenly over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks of food and provisions are valued by the directors at the balance sheet date

Trade creditors

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

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2023 - 36).

 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

220,000

220,000

At 30 June 2024

220,000

220,000

Amortisation

At 1 July 2023

176,000

176,000

Amortisation charge

11,000

11,000

At 30 June 2024

187,000

187,000

Carrying amount

At 30 June 2024

33,000

33,000

At 30 June 2023

44,000

44,000

 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

251,968

225,831

3,000

480,799

Additions

2,086,978

4,022

-

2,091,000

At 30 June 2024

2,338,946

229,853

3,000

2,571,799

Depreciation

At 1 July 2023

181,614

186,688

3,000

371,302

Charge for the year

23,796

13,168

-

36,964

At 30 June 2024

205,410

199,856

3,000

408,266

Carrying amount

At 30 June 2024

2,133,536

29,997

-

2,163,533

At 30 June 2023

70,354

39,143

-

109,497

Included within the net book value of land and buildings above is £2,086,978 (2023 - £Nil) in respect of freehold land and buildings and £46,558 (2023 - £70,354) in respect of improvements to property.
 

6

Stocks

2024
£

2023
£

Other inventories

2,329

5,830

7

Debtors

Current

2024
£

2023
£

Trade debtors

131,772

143,714

Prepayments

7,303

7,770

Other debtors

103,907

980,973

 

242,982

1,132,457

 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

26

14,400

Trade creditors

 

8,901

14,034

Amounts owed to related parties

1,290,275

-

Taxation and social security

 

15,323

12,999

Other creditors

 

248,966

359,005

 

1,563,491

400,438

Due after one year

 

Loans and borrowings

10

-

163,544

Other non-current financial liabilities

 

-

997

 

-

164,541

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

-

163,544

Other non-current financial liabilities

 

-

997

 

-

164,541

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

163,544

 

Braemar RCH Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

14,400

Bank overdrafts

26

-

26

14,400

11

Parent and ultimate parent undertaking

The Company was a wholly owned subsidiary of Braemar RCH Holdings Limited until it was sold to Keystone Care Group Limited on 12 September 2024.

 The company's immediate parent is Keystone Care Group Limited, incorporated in England and Wales.