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Company No: 10059229 (England and Wales)

FORT HORSTED CARE HOME LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

FORT HORSTED CARE HOME LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

FORT HORSTED CARE HOME LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
FORT HORSTED CARE HOME LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,773,519 1,795,877
1,773,519 1,795,877
Current assets
Debtors 4 110,386 120,247
Cash at bank and in hand 71,012 182,767
181,398 303,014
Creditors: amounts falling due within one year 5 ( 644,393) ( 950,702)
Net current liabilities (462,995) (647,688)
Total assets less current liabilities 1,310,524 1,148,189
Provision for liabilities 6 ( 1,843) ( 4,563)
Net assets 1,308,681 1,143,626
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 1,307,681 1,142,626
Total shareholder's funds 1,308,681 1,143,626

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fort Horsted Care Home Ltd (registered number: 10059229) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

Mitesh Kunvarji
Director
FORT HORSTED CARE HOME LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
FORT HORSTED CARE HOME LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fort Horsted Care Home Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note the company has net current liabilities of £462,995. The company is supported by group and related companies and these intercompany balances will not be called in for at least 12 months from the date of signing. The directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 50 years straight line
25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

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

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 40 38

3. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 2,205,742 48,668 2,181 2,256,591
Additions 12,286 10,916 4,289 27,491
At 31 March 2024 2,218,028 59,584 6,470 2,284,082
Accumulated depreciation
At 01 April 2023 452,696 7,897 121 460,714
Charge for the financial year 36,747 11,345 1,757 49,849
At 31 March 2024 489,443 19,242 1,878 510,563
Net book value
At 31 March 2024 1,728,585 40,342 4,592 1,773,519
At 31 March 2023 1,753,046 40,771 2,060 1,795,877

4. Debtors

2024 2023
£ £
Trade debtors 0 3,000
Amounts owed by directors 23,505 22,000
Prepayments and accrued income 86,881 95,247
110,386 120,247

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 42,377 52,102
Amounts owed to Parent undertakings 347,946 726,441
Accruals and deferred income 13,052 62,316
Taxation and social security 26,537 19,231
Other creditors 214,481 90,612
644,393 950,702

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 4,563) ( 530)
Credited/(charged) to the Statement of Income and Retained Earnings 2,720 ( 4,033)
At the end of financial year ( 1,843) ( 4,563)

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Related party transactions

Transactions with owners holding a participating interest in the entity

As a wholly owned subsidiary undertaking of their parent company, Crownwood Healthcare (TopCo) Limited, (Registered office: Century House, Nicholson Road, Torquay, TQ2 7TD, England, United Kingdom), the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the group.

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by directors at the year end 23,505 22,000

Interest in charged at HMRC rates where loan accounts are overdrawn in excess of £10,000 and amounted to £265 during the year (2023: £nil). There is no set date for repayment.

Other related party transactions

2024 2023
£ £
Amounts owed to connected companies, held in other creditors 195,093 71,459