REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
Bearwood Nursing Home Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
Bearwood Nursing Home Limited |
Bearwood Nursing Home Limited (Registered number: 04827592) |
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 |
Bearwood Nursing Home Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Hanover Court |
5 Queen Street |
Lichfield |
Staffordshire |
WS13 6QD |
Bearwood Nursing Home Limited (Registered number: 04827592) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bearwood Nursing Home Limited (Registered number: 04827592) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Bearwood Nursing Home Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
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. |
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. |
Bearwood Nursing Home Limited (Registered number: 04827592) |
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 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
AMORTISATION |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Bearwood Nursing Home Limited (Registered number: 04827592) |
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 |
Additions |
Revaluations |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Revaluation adjustments | ( |
) | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Cost or valuation at 31 December 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2024 | 1,708,671 | - | 1,708,671 |
Cost | 2,117,498 | 296,414 | 2,413,912 |
3,826,169 | 296,414 | 4,122,583 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 2,117,498 | 2,091,329 |
Aggregate depreciation | 726,490 | 687,203 |
Freehold land and buildings were valued on an open market basis on 29 January 2024 by Knight Frank LLP (RICS Registered Valuer) . |
Bearwood Nursing Home Limited (Registered number: 04827592) |
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 |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to associates | - | 4,510 |
10. | SECURED DEBTS |
Barclays Bank plc holds two fixed and floating charges over the assets including Bearwood Nursing Home, 86 Bearwood Road, Smethwick, B66 4HN, dated 29 April 2020 and 2 April 2024, which can be enforced on demand. |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | 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) |
13. | ULTIMATE CONTROLLING PARTY |
The company's ultimate parent company was RDCP Care Limited, incorporated in England and Wales. |
On 2 April 2024 Bearwood Nursing Home Limited became a wholly owned subsidiary of RDCP Care Holdings Limited. There is no change in the controlling shareholders and directors. |