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Registration number: 15028001

The Malvern Group Limited

Unaudited Filleted Financial Statements

for the Period from 25 July 2023 to 31 July 2024

 

The Malvern Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

The Malvern Group Limited

(Registration number: 15028001)
Balance Sheet as at 31 July 2024

Note

2024

   

£

£

Fixed assets

   

Intangible assets

4

 

827,033

Tangible assets

5

 

531,001

   

1,358,034

Current assets

   

Stocks

1,180

 

Debtors

6

8,115

 

Cash at bank and in hand

 

106,979

 

 

116,274

 

Creditors: Amounts falling due within one year

7

(1,498,461)

 

Net current liabilities

   

(1,382,187)

Total assets less current liabilities

   

(24,153)

Creditors: Amounts falling due after more than one year

7

 

(52,866)

Net liabilities

   

(77,019)

Capital and reserves

   

Called up share capital

8

1,000

 

Retained earnings

(78,019)

 

Shareholders' deficit

   

(77,019)

 

The Malvern Group Limited

(Registration number: 15028001)
Balance Sheet as at 31 July 2024

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 February 2025 and signed on its behalf by:
 

.........................................
R M Halsall
Director

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

1

General information

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

The address of its registered office is:
425 Toller Lane
Bradford
BD9 5NN

These financial statements were authorised for issue by the director on 27 February 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Going concern

The financial statements have been prepared on a going concern basis as the sole shareholder has pledged her continuing support for a minimum of 12 months from the date of issuing these financial statements

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

Tax

The tax expense for the period comprises current and deferred 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Furnitures and fittings

15% reducing balance

Goodwill

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. Goodwill is amortised over its useful life, which shall not
exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their
useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 30.

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

902,033

902,033

At 31 July 2024

902,033

902,033

Amortisation

Amortisation charge

75,000

75,000

At 31 July 2024

75,000

75,000

Carrying amount

At 31 July 2024

827,033

827,033

5

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Total
£

Cost or valuation

Additions

540,000

1

540,001

At 31 July 2024

540,000

1

540,001

Depreciation

Charge for the period

9,000

-

9,000

At 31 July 2024

9,000

-

9,000

Carrying amount

At 31 July 2024

531,000

1

531,001

Included within the net book value of land and buildings above is £531,000 in respect of freehold land and buildings.
 

6

Debtors

Current

2024
£

Trade debtors

4,865

Prepayments

3,250

 

8,115

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

7

Creditors

2024
£

Due within one year

Loans and borrowings

1,450,182

Trade creditors

13,466

Taxation and social security

14,289

Accruals and deferred income

10,368

Other creditors

10,156

1,498,461


Creditors include bank loans which are secured by a fixed and floating charge over the company's assets. The aggregate amount of the secured liability was £27,990.

2024
£

Due after one year

Loans and borrowings

52,866


Creditors include bank loans which are secured by a fixed and floating charge over the company's assets. The aggregate amount of the secured liability was £30,449.

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

1,000

1,000

   

On date of incorporation, 1000 ordinary shares of £1 each were issued for £1,000.

9

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 £2,166. The financial committment is in respect of operating leases.

 

The Malvern Group Limited

Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024

10

Related party transactions

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

1,414,421

The amounts due to key management are interest free and repayable on demand.