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REGISTERED NUMBER: 05385738 (England and Wales)















Financial Statements

for the Year Ended 31 December 2024

for

St. Nicholas House Ltd

St. Nicholas House Ltd (Registered number: 05385738)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


St. Nicholas House Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Ms I Dubylovska
S Rizvi
Mrs R A Howell





REGISTERED OFFICE: Rdcp Care
86 Bearwood Road
Smethwick
Birmingham
B66 4HN





BUSINESS ADDRESS: St Nicholas House Care Home
Churchstoke
Montegomery
Powys
SY15 6AF





REGISTERED NUMBER: 05385738 (England and Wales)





AUDITORS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

St. Nicholas House Ltd (Registered number: 05385738)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 3,808,593 982,854
3,808,594 982,855

CURRENT ASSETS
Debtors 7 3,320,260 3,345,504
Cash at bank and in hand 10,734 85,360
3,330,994 3,430,864
CREDITORS
Amounts falling due within one year 8 (541,791 ) (573,846 )
NET CURRENT ASSETS 2,789,203 2,857,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,597,797

3,839,873

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6,597,795 3,839,871
SHAREHOLDERS' FUNDS 6,597,797 3,839,873

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





S Rizvi - Director


St. Nicholas House Ltd (Registered number: 05385738)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

St. Nicholas House Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on cost

In the year ended 31 December 2024, the freehold property was revalued and therefore no depreciation has been charged in the year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


St. Nicholas House Ltd (Registered number: 05385738)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues ot adopt the going concern basis in preparing its financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 52 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 116,714
AMORTISATION
At 1 January 2024
and 31 December 2024 116,713
NET BOOK VALUE
At 31 December 2024 1
At 31 December 2023 1

St. Nicholas House Ltd (Registered number: 05385738)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 1,473,335 339,636 1,812,971
Additions 8,593 699 9,292
Revaluations 2,326,665 - 2,326,665
At 31 December 2024 3,808,593 340,335 4,148,928
DEPRECIATION
At 1 January 2024 490,481 339,636 830,117
Charge for year - 699 699
Revaluation adjustments (490,481 ) - (490,481 )
At 31 December 2024 - 340,335 340,335
NET BOOK VALUE
At 31 December 2024 3,808,593 - 3,808,593
At 31 December 2023 982,854 - 982,854

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 2,326,665 - 2,326,665
Cost 1,481,928 340,335 1,822,263
3,808,593 340,335 4,148,928

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,481,928 1,473,335
Aggregate depreciation 517,346 490,481

Freehold land and buildings were valued on an open market basis on 29 January 2024 by Knight Frank LLP(RICS Registered Valuer) .

St. Nicholas House Ltd (Registered number: 05385738)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 103,643 183,182
Amounts owed by group undertakings 3,184,099 2,863,058
Amounts owed by associates - 271,117
Other debtors 32,518 28,147
3,320,260 3,345,504

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 73,689 65,063
Amounts owed to group undertakings 61,882 56,882
Taxation and social security 273,794 258,947
Other creditors 132,426 192,954
541,791 573,846

9. SECURED DEBTS

Barclays Bank plc holds two fixed and floating charges over the assets including St. Nicholas House and Dilstan House, Churchstoke, Montegomery, Powys, SY15 6AF, dated 29 April 2020 and 2 April 2024, which can be enforced on demand.

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

The Report of the Auditors was unqualified.

Susanna Ault FCCA ACA (Senior Statutory Auditor)
for and on behalf of Tomkinson Teal (Lichfield) LLP

11. CONTINGENT LIABILITIES

The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group headed by its ultimate parent, RDCP Care Holdings Limited. The amount guaranteed is £15,515,500 (2023 - £14,350,513)

12. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company was RDCP Care Limited, incorporated in England and Wales.

On 2 April 2024 St. Nicholas House Ltd became a wholly owned subsidiary of RDCP Care Holdings Limited. There is no change in the controlling shareholders and directors.