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REGISTERED NUMBER: 05256851 (England and Wales)















Financial Statements

for the Year Ended 31 December 2024

for

Richmond Court Nursing Home Limited

Richmond Court Nursing Home Limited (Registered number: 05256851)






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


Richmond Court Nursing Home Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Ms I Dubylovska
S Rizvi
Mrs R A Howell





REGISTERED OFFICE: C/o Rdcp Care
86 Bearwood Road
Smethwick
West Midlands
B66 4HN





BUSINESS ADDRESS: Beeches Road
West Bromwich
West Midlands
B70 6QE





REGISTERED NUMBER: 05256851 (England and Wales)





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

Richmond Court Nursing Home Limited (Registered number: 05256851)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,941,126 1,156,194
2,941,126 1,156,194

CURRENT ASSETS
Stocks 1,800 1,800
Debtors 7 2,067,757 2,481,516
Cash at bank and in hand 46,443 54,664
2,116,000 2,537,980
CREDITORS
Amounts falling due within one year 8 (551,282 ) (598,548 )
NET CURRENT ASSETS 1,564,718 1,939,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,505,844

3,095,626

PROVISIONS FOR LIABILITIES (48,802 ) (48,802 )
NET ASSETS 4,457,042 3,046,824

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,456,942 3,046,724
SHAREHOLDERS' FUNDS 4,457,042 3,046,824

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


Richmond Court Nursing Home Limited (Registered number: 05256851)

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

1. STATUTORY INFORMATION

Richmond Court Nursing Home Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Richmond Court Nursing Home Limited (Registered number: 05256851)

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

3. ACCOUNTING POLICIES - continued
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.

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 68 (2023 - 65 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 135,500
AMORTISATION
At 1 January 2024
and 31 December 2024 135,500
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Richmond Court Nursing Home Limited (Registered number: 05256851)

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 1,743,187 274,282 2,017,469
Additions 98,419 5,591 104,010
Revaluations 1,056,813 - 1,056,813
At 31 December 2024 2,898,419 279,873 3,178,292
DEPRECIATION
At 1 January 2024 626,599 234,676 861,275
Charge for year - 2,490 2,490
Revaluation adjustments (626,599 ) - (626,599 )
At 31 December 2024 - 237,166 237,166
NET BOOK VALUE
At 31 December 2024 2,898,419 42,707 2,941,126
At 31 December 2023 1,116,588 39,606 1,156,194

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 1,056,813 - 1,056,813
Cost 1,841,606 279,873 2,121,479
2,898,419 279,873 3,178,292

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

2024 2023
£    £   
Cost 1,743,187 1,743,187
Aggregate depreciation 651,852 626,599

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

Richmond Court Nursing Home Limited (Registered number: 05256851)

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 112,526 39,624
Amounts owed by group undertakings 1,953,109 2,019,028
Amounts owed by associates - 418,027
Other debtors 2,122 4,837
2,067,757 2,481,516

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 33,754
Trade creditors 35,813 46,367
Amounts owed to group undertakings 122,967 134,968
Amounts owed to associates - 2,258
Taxation and social security 217,017 213,490
Other creditors 175,485 167,711
551,282 598,548

9. SECURED DEBTS

Barclays Bank plc holds two fixed and floating charges over the assets including Richmond Court Nursing Home, Beeches Road, West Bromwich, B70 6QE, 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 Richmond Court Nursing Home Limited became a wholly owned subsidiary of RDCP Care Holdings Limited. There is no change in the controlling shareholders and directors.