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Tre'Care Group Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2024

Registration number: 02643010

 

Tre'Care Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 10

 

Tre'Care Group Limited

Balance Sheet

30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

950,466

988,611

Investments

5

3

3

 

950,469

988,614

Current assets

 

Stocks

6

13,889

12,511

Debtors

7

441,462

557,179

Cash at bank and in hand

 

1,276,316

917,756

 

1,731,667

1,487,446

Creditors: Amounts falling due within one year

8

(357,220)

(430,475)

Net current assets

 

1,374,447

1,056,971

Total assets less current liabilities

 

2,324,916

2,045,585

Creditors: Amounts falling due after more than one year

8

(18,240)

(18,816)

Provisions for liabilities

(53,160)

(55,764)

Net assets

 

2,253,516

1,971,005

Capital and reserves

 

Called up share capital

10

100

100

Capital redemption reserve

5

5

Profit and loss account

2,253,411

1,970,900

Shareholders' funds

 

2,253,516

1,971,005

 

Tre'Care Group Limited

Balance Sheet

30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 April 2025 and signed on its behalf by:
 

.........................................
B Craig
Director

   
     

Company Registration Number: 02643010

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The business address is the same as the registered office address, although the entity operates care homes across various locations in Cornwall.

These financial statements were authorised for issue by the Board on 4 April 2025.

The address of its registered office is:
Little Trefewha Residential Home
Trefewha
Praze
Camborne
Cornwall
TR14 0JZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Group accounts not prepared

The company was exempt from the requirement to prepare group accounts on the basis that it was the parent of a small group.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors 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 statement. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities.

Income from residents is recognised, as earned, through the provision of contracted services.

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% Straight line method

Furniture, fittings and equipment

10% - 20% Reducing balance method

Motor vehicles

10% Reducing balance method

Computer equipment

30% Straight line method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
Financial assets and liabilities are recognised/(derecognised) when the company becomes/(ceases to be) party to the contractual provisions of the instrument.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 136 (2023 - 127).

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Furniture and fittings
 £

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

1,295,641

570,500

72,660

7,794

1,946,595

Additions

-

6,447

5,265

-

11,712

At 30 November 2024

1,295,641

576,947

77,925

7,794

1,958,307

Depreciation

At 1 December 2023

515,416

370,373

70,084

2,111

957,984

Charge for the year

25,425

20,674

3,190

568

49,857

At 30 November 2024

540,841

391,047

73,274

2,679

1,007,841

Carrying amount

At 30 November 2024

754,800

185,900

4,651

5,115

950,466

At 30 November 2023

780,225

200,127

2,576

5,683

988,611

Included within the net book value of land and buildings above is £754,800 (2023 - £780,225) in respect of freehold land and buildings.
 

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

3

3

Subsidiaries

£

Cost or valuation

At 1 December 2023

3

Provision

Carrying amount

At 30 November 2024

3

At 30 November 2023

3

Details of undertakings

Tre'Care Group Limited owns 100% of the share capital of two companies:

- Tregenna Nursing Home Limited
- Little Trefewha Limited

Both companies are incorporated in England and Wales, and share the registered office address of their parent undertaking, being Little Trefewha Care Home Trefewha, Praze, Camborne, Cornwall, TR14 0JZ.

The principal activity of Tregenna Nursing Home Limited is that of a dormant company

The principal activity of Little Trefewha Limited is that of a dormant company

6

Stocks

2024
£

2023
£

Stocks

13,889

12,511

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

7

Debtors

2024
£

2023
£

Trade debtors

272,335

434,787

Prepayments

18,415

25,950

Other debtors

150,712

96,442

441,462

557,179

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

78,489

65,989

Taxation and social security

240,381

223,566

Accruals and deferred income

8,345

4,576

Other creditors

30,005

136,344

357,220

430,475

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

2024
£

2023
£

Loans and borrowings due after one year

Government grants

18,240

18,816


Bank borrowings

The company bankers have a debenture secured against the borrowing of the company.

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £40,331 (2023 - £60,606). Financial commitments relate to operating leases for assets leased on contracts of minimum length 3 - 6 years.

 

Tre'Care Group Limited

Notes to the Financial Statements

Year Ended 30 November 2024

12

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr B & Mrs D Craig

Directors loan account repayable on demand

36,001

29,256

(10,000)

55,257

Mr P & Mrs J Fitzhenry

Directors loan account repayable on demand

33,708

27,701

(10,000)

51,409

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr B & Mrs D Craig

Directors loan account repayable on demand

29,217

34,418

(27,634)

36,001

Mr P & Mrs J Fitzhenry

Directors loan account repayable on demand

28,034

33,174

(27,500)

33,708