REGISTERED NUMBER: 07965064 (England and Wales) |
Group Strategic Report, Report of the Directors and |
Audited Consolidated Financial Statements for the Year Ended 30 June 2024 |
for |
BUCKLAND CARE (HOLDINGS) LIMITED |
REGISTERED NUMBER: 07965064 (England and Wales) |
Group Strategic Report, Report of the Directors and |
Audited Consolidated Financial Statements for the Year Ended 30 June 2024 |
for |
BUCKLAND CARE (HOLDINGS) LIMITED |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Contents of the Consolidated Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 5 |
Report of the Independent Auditors | 7 |
Consolidated Income Statement | 11 |
Consolidated Other Comprehensive Income | 12 |
Consolidated Balance Sheet | 13 |
Company Balance Sheet | 14 |
Consolidated Statement of Changes in Equity | 15 |
Company Statement of Changes in Equity | 16 |
Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Cash Flow Statement | 18 |
Notes to the Consolidated Financial Statements | 19 |
BUCKLAND CARE (HOLDINGS) LIMITED |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: | Mrs Anugrah Sharma |
AUDITORS: |
Aruna House |
2 Kings Road |
Haslemere |
Surrey |
GU27 2QA |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Group Strategic Report |
for the Year Ended 30 June 2024 |
The directors present their strategic report of the company and the group for the year ended 30 June 2024. |
REVIEW OF BUSINESS |
The directors aim to present a balanced and comprehensive review of the developments and performance of the business during the year and its position at the year end. This review is consistent with the size and complexity of the business and is written in the context of the risks and uncertainties faced by the business. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Given the size and nature of the group, the financial risks are not complex in nature and the directors take responsibility for managing those risks. The directors do not consider there to be any financial risks related to foreign currency exposure as the group does not operate in the overseas sector. The directors consider there to be low exposure to price risk. The group carries out appropriate checks to mitigate exposure to credit risks. The directors actively monitor the available bank and cash resources held by the group and believe that it has an appropriate mix of loan finance to mitigate liquidity risks. The directors are satisfied that the current level of interest cover is sufficient and that the benefits or mitigating interest rate risk are outweighed by costs. |
The most fundamental risks faced by the group are: |
- Failure to comply with regulation, possibly leading in extreme cases to the revocation of the care home's |
registration. |
- Failure to achieve quality standards, possibly leading to the suspension of admissions to the home. |
- Budgeted occupancy levels not being achieved with negative effects on profit. |
- Average weekly fees do not rise, at least in line with costs, putting profit margins under pressure. |
- Failure to retain and motivate nursing and other qualified staff, adversely impacting admissions. |
-Dealing with infectious disease risks and reducing the risk of breakouts in the homes while maintaining the mental health of residents and minimising the risk from unvaccinated staff. |
ANALYSIS BASED ON KEY PERFORMANCE INDICATORS |
Details | 30/06/2024 | 30/06/2023 |
£ | £ |
Turnover | 16,890,315 | 14,529,327 |
Gross profit margin % | 39% | 38% |
Profit/(loss) before tax | 15,80,045 | 995,203 |
EBITDA | 3,381,359 | 2,650,813 |
Shareholders funds | 6,491,018 | 6,687,558 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Group Strategic Report |
for the Year Ended 30 June 2024 |
SECTION 172(1) STATEMENT |
The directors of the company have acted in accordance with their duties under section 172 of the Companies Act 2006 to promote the success of the company for the benefit of its members as a whole, having due regard to the matters set out in section 172(1)(a) to (f). |
In particular, the directors have had regard to: |
The likely consequences of any decision in the long term: |
The group operates residential care homes and considers the long-term sustainability of its services, regulatory compliance, and reputation in all material decisions. The directors regularly review operational performance, investment in facilities, and future growth plans with a long-term perspective. |
The interests of the group’s employees: |
The directors recognise that the group’s success depends on the dedication and professionalism of its staff. Regular training, performance reviews, and open channels of communication are maintained to ensure employee welfare and engagement. The group continues to monitor and respond to staff feedback across all care homes. |
The need to foster business relationships with suppliers, customers, and others: |
The group maintains strong relationships with local authorities, regulators, suppliers, and service providers. These relationships are essential to the group’s smooth operation and compliance in a regulated sector. |
The impact of operations on the community and environment: |
The group is mindful of its social responsibilities, particularly within the communities where its care homes operate. It seeks to engage with local organisations and initiatives and is exploring options for reducing environmental impact through energy-efficient practices. |
The desirability of maintaining a reputation for high standards of business conduct: |
The directors are committed to maintaining high ethical standards, governance, and integrity throughout the group’s operations. All decisions are made in line with the group’s core values of care, respect, and responsibility. |
The need to act fairly between members of the company: |
The board ensures that decisions are taken with due regard to the interests of all shareholders. The directors aim to maintain transparency and accountability in the management of the group’s affairs. |
The board meets regularly to consider the group’s performance and strategy. Key decisions taken during the year have been informed by the considerations listed above, consistent with the directors’ duty under section 172. |
FUTURE DEVELOPMENTS |
The directors constantly review the care home sector and will continue to consider opportunities for acquisitions and disposals as they arise. |
FINANCIAL PERFORMANCE DURING THE YEAR |
This has been a positive year for the company and this is reflected in an increase in turnover and profits before taxation. This left the company in a positive position moving into the upcoming year. The most significant costs relate to staff and they are reviewed on an ongoing basis. Future staff costs are considered when considering fees charged to residents. |
Full details of the group's performance can be seen in the Consolidated Statement of Comprehensive Income. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Group Strategic Report |
for the Year Ended 30 June 2024 |
FINANCIAL PERFORMANCE AT THE REPORTING DATE |
At the balance sheet date the group had net assets of £6,491,018. This includes bank and cash reserves of £1,053,143. The Directors are pleased with this strong balance sheet position. |
ON BEHALF OF THE BOARD: |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Report of the Directors |
for the Year Ended 30 June 2024 |
The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a holding company. The principal activity of the trading subsidiary is that of nursing care for the elderly. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 June 2024 will be £1,257,798 (2023: £95,464). |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report. |
RESULTS |
The profit / (loss) for the year, after taxation was £1,061,258 (2023: £(371,855)). |
The directors have considered any material uncertainties to the group over the next twelve months and concluded that it is appropriate for the accounts to be prepared on a going concern basis. |
DISABLED EMPLOYEES |
The group gives full consideration to applications for employment from disabled persons where the candidate’s particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion. |
Where existing employees become disabled, it is the group’s policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim. |
ENGAGEMENT WITH EMPLOYEES |
In order to meet legal requirements DBS checks are carried out on all employees prior to the commencement of their employment. |
In order to meet the requirements of the Care Quality Commission (CQC) ongoing training is provided to all employees in accordance to their requirements. All employees maintain a training record which can be checked at any time by CQC. Regular meetings are held with staff to keep them informed of particular issues that may be arising with residents. |
DISCLOSURE IN THE STRATEGIC REPORT |
As permitted by Paragraph 1A of Schedule 7 to the Large and Medium-size Companies and Group (Accounts and reports) Regulation 2008, certain matters which are required to be disclosed in the directors report have been omitted as they are included in the strategic report of page 2. These matters relate to the business review, principal risks and uncertainties, key performance indicators and future developments. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Report of the Directors |
for the Year Ended 30 June 2024 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
AUDITORS |
The auditors, A & N (Haslemere) Limited - Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Buckland Care (Holdings) Limited |
Opinion |
We have audited the financial statements of Buckland Care (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Buckland Care (Holdings) Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Buckland Care (Holdings) Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
The objectives of our audit, in respect to irregularities, including fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidenceregarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; to respond appropriately to fraud or suspected fraud identified during the audit, to obtain audit evidence regarding compliance with provisions of applicable laws and regulations, and to respond appropriately to any non-compliance identified. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. |
In identifying and assessing risks of material misstatement in respect of irregularities including fraud and |
non-compliance with laws and regulations our approach was to consider the following: |
- the nature of the industry or sector, control environment and business performance; |
- the results of enquiries of management about their own identification and assessment of the risks of |
irregularities; |
- matters discussed among the audit engagement team regarding how and where fraud might occur in the |
financial statements and any potential indicators of fraud. |
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, tax legislation and health and safety. |
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. |
We assessed the opportunities and incentives that may exist within the organisation for fraud and identifiedthe greatest potential for fraud to be in respect of the recognition of income. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
Our procedures to respond to risks identified included the following: |
- reviewing the financial statement disclosures and testing to supporting documentation; |
- enquiring of management concerning actual and potential litigation and claims; |
- reviewing material legal costs in the period; |
- performing analytical procedures to identify unusual or unexpected relationships; |
- reviewing correspondence with HMRC; |
- testing the appropriateness of judgements made in making accounting estimates, journal entries and other |
adjustments made by management for indications of potential bias; and |
- evaluating the business rationale of any significant transactions that are unusual or outside the normal |
course of business. |
Report of the Independent Auditors to the Members of |
Buckland Care (Holdings) Limited |
The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK). |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Comparative figures |
The consolidated financial statements for the year ended 30 June 2023 were audited by another auditor who expressed an unmodified opinion on those financial statements on 3/5/24. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Aruna House |
2 Kings Road |
Haslemere |
Surrey |
GU27 2QA |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Consolidated |
Income Statement |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ |
TURNOVER | 16,890,315 | 14,529,327 |
Cost of sales | 10,154,592 | 8,951,802 |
GROSS PROFIT | 6,735,723 | 5,577,525 |
Administrative expenses | 4,401,968 | 4,132,059 |
2,333,755 | 1,445,466 |
Other operating income | 4 | 30,546 | 237,905 |
OPERATING PROFIT | 6 | 2,364,301 | 1,683,371 |
Interest receivable and similar income | - | 106 |
2,364,301 | 1,683,477 |
Interest payable and similar expenses | 7 | 784,256 | 688,273 |
PROFIT BEFORE TAXATION | 1,580,045 | 995,204 |
Tax on profit | 8 | 518,787 | 1,367,058 |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
Profit/(loss) attributable to: |
Owners of the parent | 1,061,258 | (371,854 | ) |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Consolidated |
Other Comprehensive Income |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ |
PROFIT/(LOSS) FOR THE YEAR | 1,061,258 | (371,854 | ) |
OTHER COMPREHENSIVE INCOME |
- | 3,664,167 |
Income tax relating to other comprehensive income |
- |
(843,339 |
) |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
- |
2,820,828 |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,061,258 |
2,448,974 |
Total comprehensive income attributable to: |
Owners of the parent | 1,061,258 | 2,448,974 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Consolidated Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 11 | 561,129 | 1,010,032 |
Tangible assets | 12 | 21,066,318 | 21,453,843 |
Investments | 13 | - | - |
21,627,447 | 22,463,875 |
CURRENT ASSETS |
Debtors | 14 | 1,126,920 | 832,608 |
Cash at bank and in hand | 1,053,143 | 964,030 |
2,180,063 | 1,796,638 |
CREDITORS |
Amounts falling due within one year | 15 | 5,072,080 | 4,732,761 |
NET CURRENT LIABILITIES | (2,892,017 | ) | (2,936,123 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
18,735,430 |
19,527,752 |
CREDITORS |
Amounts falling due after more than one year | 16 | (9,738,584 | ) | (10,264,269 | ) |
PROVISIONS FOR LIABILITIES | 18 | (2,505,828 | ) | (2,575,925 | ) |
NET ASSETS | 6,491,018 | 6,687,558 |
CAPITAL AND RESERVES |
Called up share capital | 19 | 1,000 | 1,000 |
Fair value reserve | 20 | 5,373,593 | 5,373,593 |
Retained earnings | 20 | 1,116,425 | 1,312,965 |
SHAREHOLDERS' FUNDS | 6,491,018 | 6,687,558 |
The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by: |
Mrs J E Birkett - Director |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Company Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 11 |
Tangible assets | 12 |
Investments | 13 |
CREDITORS |
Amounts falling due within one year | 15 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 19 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 1,257,798 | 95,464 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Consolidated Statement of Changes in Equity |
for the Year Ended 30 June 2024 |
Called up | Fair |
share | Retained | value | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 July 2022 | 1,219,614 | 1,728,995 | 2,604,053 | 5,552,662 |
Changes in equity |
Issue of share capital | (1,218,614 | ) | - | - | (1,218,614 | ) |
Dividends | - | (95,464 | ) | - | (95,464 | ) |
Total comprehensive income | - | (320,566 | ) | 2,769,540 | 2,448,974 |
Balance at 30 June 2023 | 1,000 | 1,312,965 | 5,373,593 | 6,687,558 |
Changes in equity |
Dividends | - | (1,257,798 | ) | - | (1,257,798 | ) |
Total comprehensive income | - | 1,061,258 | - | 1,061,258 |
Balance at 30 June 2024 | 1,000 | 1,116,425 | 5,373,593 | 6,491,018 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Company Statement of Changes in Equity |
for the Year Ended 30 June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2024 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Consolidated Cash Flow Statement |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 3,709,363 | 3,146,973 |
Interest paid | (784,256 | ) | (688,273 | ) |
Tax paid | (316,395 | ) | (178,432 | ) |
Net cash from operating activities | 2,608,712 | 2,280,268 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (180,516 | ) | (254,386 | ) |
Interest received | - | 106 |
Net cash from investing activities | (180,516 | ) | (254,280 | ) |
Cash flows from financing activities |
Loan repayments in year | (525,685 | ) | (808,780 | ) |
Amount withdrawn by directors | (555,600 | ) | (405,633 | ) |
Equity dividends paid | (1,257,798 | ) | (95,464 | ) |
Net cash from financing activities | (2,339,083 | ) | (1,309,877 | ) |
Increase in cash and cash equivalents | 89,113 | 716,111 |
Cash and cash equivalents at beginning of year |
2 |
964,030 |
247,919 |
Cash and cash equivalents at end of year | 2 | 1,053,143 | 964,030 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 30 June 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.6.24 | 30.6.23 |
£ | £ |
Profit before taxation | 1,580,045 | 995,204 |
Depreciation charges | 1,017,058 | 967,336 |
Government grants | (30,546 | ) | - |
Finance costs | 784,256 | 688,273 |
Finance income | - | (106 | ) |
3,350,813 | 2,650,707 |
Decrease in trade and other debtors | 261,289 | 4,062 |
Increase in trade and other creditors | 97,261 | 492,204 |
Cash generated from operations | 3,709,363 | 3,146,973 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 June 2024 |
30.6.24 | 1.7.23 |
£ | £ |
Cash and cash equivalents | 1,053,143 | 964,030 |
Year ended 30 June 2023 |
30.6.23 | 1.7.22 |
£ | £ |
Cash and cash equivalents | 964,030 | 247,919 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.7.23 | Cash flow | At 30.6.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 964,030 | 89,113 | 1,053,143 |
964,030 | 89,113 | 1,053,143 |
Debt |
Debts falling due within 1 year | (793,381 | ) | - | (793,381 | ) |
Debts falling due after 1 year | (10,264,269 | ) | 525,685 | (9,738,584 | ) |
(11,057,650 | ) | 525,685 | (10,531,965 | ) |
Total | (10,093,620 | ) | 614,798 | (9,478,822 | ) |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Buckland Care (Holdings) 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 General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
Monetary amounts in the financial statements have been rounded to the nearest whole £. |
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" 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. |
Basis of consolidation |
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. |
The consolidated financial statements have been prepared using the FRS 102 merger accounting methodology. The results, cash flows and balances of all combining entities have been brought into the financial statements of the group. |
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. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
Significant judgements and estimates |
In applying the Group's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying value of assets and liabilities. The directors' judgement, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that considered to be applicable. Due to the inherent sensitivity involved in making judgements, estimates and assumptions, the actual results and outcomes may differ.. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised prospectively. |
The directors' have made key assumptions regarding the expected useful life of intangible fixedassets, these being depreciated at the rates documented in the accounting policies.The expecteduseful life has been determined by the director's expectations of the homes acquired and theirexperience of the industry. |
The directors' have made key assumptions to determine whether there are any indicators of impairment of the Group's tangible and intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Turnover |
Services |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts. |
Turnover is recognised in advance of nursing care provided to the extent that it is probable that the economic benefits will flow to the group and the turnover can be reliably measured. This is funded by individuals or Government agencies. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts. |
Goodwill |
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated Statement of Comprehensive Income over its useful economic life of 10 years. |
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 |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
The group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental futurebenefits to the group. The carrying amount of the replaced part is derecognised. Repair and |
maintenance are charged to the Consolidated Statement of Comprehensive Income during theperiod in which they are incurred. |
Depreciation is charged so as to allocate the cost of assets less their residual value over theirestimated useful lives, using the straight line method. |
Depreciation is provided on the following basis: |
Freehold property - Straight line over 50 years |
Fixtures and fittings - 25% reducing balance |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjustedprospectively if appropriate, or if there is an indication of a significant charge since the last reporting |
date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Comprehensive Income. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
The group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. |
The contributions are recognised as an expense in the Consolidated Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the group in independently administered funds. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Revaluation of tangible fixed assets |
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date. |
Fair values are determined from market based evidence normally undertaken by professionally |
qualified valuers. |
Revaluation gains and losses are recognised in the Statement of Changes in Equity unless lossesexceeded the previously recognised gains or reflect a clear consumption of economic benefits, inwhich case the excess losses are recognised in profit or loss. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bankloans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Finance costs |
Finance costs are charged to the Consolidated Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends arerecognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
Interest income |
Interest income is recognised in the Consolidated Statement of Comprehensive Income using theeffective interest method. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Impairment of non-financial assets |
At each reporting date non-financial assets not carried at fair value, like intangible assets and plant,property and equipment, are reviewed to determine whether there is an indication that an asset maybe impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the Consolidated Statement of Comprehensive Income |
. |
If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in the Consolidated Statement of Comprehensive Income.. |
Going concern |
The consolidated financial statements have been prepared on a going concern basis. In making their assessment, the directors have considered the group's customers, suppliers and staff. The group has introduced and adhered to all guidance as instructed by the UK Government for the safety and welfare of the home's residents and staff. The group have prepared budgets and forecasts for the next twelve months, which take into account changes in trading conditions. These demonstrate that the company should have the financial resources to cope with a significant reduction in the occupancy of the care homes, in the event that such a scenario was to arise. The group has net current liabilities (despite a positive shareholders' funds) but through the continued support of its directors and related parties the group is able to continue and does not see issues arising in the following 12 months from sign off. Based on the above the directors believe that the group will continue to have adequate financial resources for the foreseeable future. |
4. | OTHER OPERATING INCOME |
30.6.24 | 30.6.23 |
£ | £ |
Sundry receipts | - | 3,312 |
Government grants | 30,546 | 234,593 |
30,546 | 237,905 |
5. | EMPLOYEES AND DIRECTORS |
30.6.24 | 30.6.23 |
£ | £ |
Wages and salaries | 9,315,123 | 8,269,950 |
Social security costs | 764,667 | 636,211 |
Other pension costs | 165,422 | 125,304 |
10,245,212 | 9,031,465 |
The average number of employees during the year was as follows: |
30.6.24 | 30.6.23 |
Staff |
The average number of employees by undertakings that were proportionately consolidated during the year was 384 (2023 - 384 ) . |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | EMPLOYEES AND DIRECTORS - continued |
30.6.24 | 30.6.23 |
£ | £ |
Directors' remuneration | - | - |
6. | OPERATING PROFIT |
The operating profit is stated after charging: |
30.6.24 | 30.6.23 |
£ | £ |
Depreciation - owned assets | 568,041 | 518,433 |
Goodwill amortisation | 448,903 | 448,902 |
Auditors' remuneration | 10,080 | 10,080 |
Other non- audit services | - | 10,728 |
7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.6.24 | 30.6.23 |
£ | £ |
Bank loan interest | 543,462 | 447,479 |
Loan interest | 240,794 | 240,794 |
784,256 | 688,273 |
8. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.6.24 | 30.6.23 |
£ | £ |
Current tax: |
UK corporation tax | 588,885 | 316,395 |
Deferred tax | (70,098 | ) | 1,050,663 |
Tax on profit | 518,787 | 1,367,058 |
Tax effects relating to effects of other comprehensive income |
30.6.23 |
Gross | Tax | Net |
£ | £ | £ |
Reserves movements | 3,664,167 | (843,339 | ) | 2,820,828 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. The profit after tax of the parent company for the year was £1,257,798 (2023:£95,434). |
10. | DIVIDENDS |
30.6.24 | 30.6.23 |
£ | £ |
Ordinary shares of 1 each |
Interim | 1,257,798 | 95,464 |
11. | INTANGIBLE FIXED ASSETS |
Group |
Goodwill |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 | 5,855,706 |
AMORTISATION |
At 1 July 2023 | 4,845,674 |
Amortisation for year | 448,903 |
At 30 June 2024 | 5,294,577 |
NET BOOK VALUE |
At 30 June 2024 | 561,129 |
At 30 June 2023 | 1,010,032 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
12. | TANGIBLE FIXED ASSETS |
Group |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 July 2023 | 24,275,644 | 2,746,188 | - | 27,021,832 |
Additions | - | 175,435 | 5,081 | 180,516 |
At 30 June 2024 | 24,275,644 | 2,921,623 | 5,081 | 27,202,348 |
DEPRECIATION |
At 1 July 2023 | 3,679,097 | 1,888,892 | - | 5,567,989 |
Charge for year | 325,439 | 241,815 | 787 | 568,041 |
At 30 June 2024 | 4,004,536 | 2,130,707 | 787 | 6,136,030 |
NET BOOK VALUE |
At 30 June 2024 | 20,271,108 | 790,916 | 4,294 | 21,066,318 |
At 30 June 2023 | 20,596,547 | 857,296 | - | 21,453,843 |
Cost or valuation at 30 June 2024 is represented by: |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2015 | 3,608,619 | - | - | 3,608,619 |
Valuation in 2023 | 4,961,299 | - | - | 4,961,299 |
Cost | 15,705,726 | 2,921,623 | 5,081 | 18,632,430 |
24,275,644 | 2,921,623 | 5,081 | 27,202,348 |
13. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
13. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Buckland Care Limited |
Registered office: Kingland House, 24-30 Kingland Road, Poole, Englannd, BH15 1TP. |
Nature of business: :-Supply of elderly care |
% |
Class of shares: | holding |
Ordinary | 100.00 |
30.6.24 | 30.6.23 |
£ | £ |
Aggregate capital and reserves | 7,492,718 | 7,905,172 |
Profit/(loss) for the year | 1,061,258 | (371,854 | ) |
Buckland Care Services Limited |
Registered office: Kingland House, 24-30 Kingland Road, Poole, Englannd, BH15 1TP. |
Nature of business: :-Dormant company |
% |
Class of shares: | holding |
Ordinary | 100.00 |
30.6.24 | 30.6.23 |
£ | £ |
Aggregate capital and reserves | 100 | 100 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors | 327,377 | 623,127 |
Amounts owed by participating interests | 92,634 | 16,363 |
Other debtors | 3,569 | 37,173 |
Directors' loan accounts | 555,600 | - |
Prepayments and accrued income | 147,740 | 155,945 |
1,126,920 | 832,608 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
30.6.24 | 30.6.23 | 30.6.24 | 30.6.23 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 17) | 793,381 | 793,381 |
Payments on account | 213,920 | 271,357 |
Trade creditors | 337,023 | 271,665 |
Amounts owed to group undertakings | - | - |
Amounts owed to participating interests | 893,023 | 868,354 | - | - |
Tax | 473,662 | 201,172 |
Social security and other taxes | 183,569 | 171,305 |
VAT | 378 | - | - | - |
Other creditors | 1,166,997 | 1,232,800 |
Accruals and deferred income | 1,010,127 | 922,727 |
5,072,080 | 4,732,761 |
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans (see note 17) | 5,484,559 | 6,251,038 |
Other loans (see note 17) | 4,254,025 | 4,013,231 |
9,738,584 | 10,264,269 |
17. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
30.6.24 | 30.6.23 |
£ | £ |
Amounts falling due within one year or on | demand: |
Bank loans | 793,381 | 793,381 |
Amounts falling due between two and five | years: |
Bank loans - 2-5 years | 3,332,202 | 3,332,202 |
Other loans - 2-5 years | 4,254,025 | 4,013,231 |
7,586,227 | 7,345,433 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,152,357 | 2,918,836 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
18. | PROVISIONS FOR LIABILITIES |
Group |
30.6.24 | 30.6.23 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 1,027,292 | 1,097,390 |
Other timing differences | 1,478,536 | 1,478,535 |
2,505,828 | 2,575,925 |
Group |
Deferred |
tax |
£ |
Balance at 1 July 2023 | 2,575,925 |
Provided during year | (70,097 | ) |
Balance at 30 June 2024 | 2,505,828 |
19. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | 1 | 1,000 | 1,000 |
20. | RESERVES |
Group |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 July 2023 | 1,312,965 | 5,373,593 | 6,686,558 |
Profit for the year | 1,061,258 | 1,061,258 |
Dividends | (1,257,798 | ) | (1,257,798 | ) |
At 30 June 2024 | 1,116,425 | 5,373,593 | 6,490,018 |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
20. | RESERVES - continued |
Company |
Retained |
earnings |
£ |
Profit for the year |
Dividends | ( |
) |
At 30 June 2024 |
21. | PENSION COMMITMENTS |
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £165,422 (2023: £125,305). Contributions totalling £34,108 (2023: £35,025) were payable to the fund at the balance sheet date. |
22. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023: |
30.6.24 | 30.6.23 |
£ | £ |
R W Birkett and Mrs J E Birkett |
Balance outstanding at start of year | - | - |
Amounts advanced | 555,600 | - |
Amounts repaid | - | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 555,600 | - |
23. | RELATED PARTY DISCLOSURES |
During the year, the group provided administrative and support services to a number of entities under common control but outside the consolidated group. These services were recharged on a cost basis, and the total income recognised was £591,408 (2023: £572,948). |
These related entities are controlled by the same directors and shareholders but are not subsidiaries of the group. |
The following balances were outstanding at the year end in respect of these transactions: |
Receivables from related parties: £92,634 (2023: £nil) |
Payables to related parties: £893,023 (2023: £868,354) |
All intercompany balances and transactions within the group, including interest-bearing loans and related income or expense, have been eliminated on consolidation. |
BUCKLAND CARE (HOLDINGS) LIMITED (REGISTERED NUMBER: 07965064) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
24. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr and Mrs Birkett, 100% shareholders of the company. |