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Registration number: 03709021

Bamford Care Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Bamford Care Homes Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Bamford Care Homes Limited

(Registration number: 03709021)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

206,995

221,109

Current assets

 

Debtors

6

96,368

111,817

Cash at bank and in hand

 

1,315,213

1,186,400

 

1,411,581

1,298,217

Creditors: Amounts falling due within one year

7

(236,718)

(268,404)

Net current assets

 

1,174,863

1,029,813

Total assets less current liabilities

 

1,381,858

1,250,922

Creditors: Amounts falling due after more than one year

7

(59,257)

(65,881)

Provisions for liabilities

(40,851)

(42,881)

Net assets

 

1,281,750

1,142,160

Capital and reserves

 

Called up share capital

8

120

120

Profit and loss account

1,281,630

1,142,040

Shareholders' funds

 

1,281,750

1,142,160

 

Bamford Care Homes Limited

(Registration number: 03709021)
Statement of Financial Position as at 31 July 2024 (continued)

For the financial year ending 31 July 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 


M A Jeffrey
Director

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 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:
Plym House 3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of nursing home.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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. Turnover is shown net of 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.

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 income 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Plant and machinery

- 15% reducing balance

Fittings, fixtures and equipment

- 15% reducing balance

Motor vehicles

- 25% reducing balance

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Computer equipment

- 25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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:

Goodwill

- 10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Leases

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 statement of financial position as a finance lease obligation.

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

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 51 (2023 - 52).

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

550,000

550,000

At 31 July 2024

550,000

550,000

Amortisation

At 1 August 2023

550,000

550,000

At 31 July 2024

550,000

550,000

Carrying amount

At 31 July 2024

-

-

5

Tangible assets

Fixtures, fittings and equipment
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

394,673

21,285

106,728

522,686

Additions

11,443

16,866

-

28,309

At 31 July 2024

406,116

38,151

106,728

550,995

Depreciation

At 1 August 2023

257,338

15,440

28,799

301,577

Charge for the year

20,687

2,254

19,482

42,423

At 31 July 2024

278,025

17,694

48,281

344,000

Carrying amount

At 31 July 2024

128,091

20,457

58,447

206,995

At 31 July 2023

137,335

5,845

77,929

221,109

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

6

Debtors

2024
£

2023
£

Trade debtors

55,692

74,377

Other debtors

31,196

31,196

Prepayments

9,480

6,244

96,368

111,817

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

6,624

6,624

Trade creditors

39,092

44,515

Taxation and social security

103,007

129,735

Accruals and deferred income

20,067

14,304

Other creditors

67,928

73,226

236,718

268,404

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

59,257

65,881

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

20

20

20

20

120

120

120

120

 

Bamford Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

10

Related party transactions

Included within Other debtors is £31,194 owed to the company by a Pension scheme which was set up in favour of the director's. This loan is not on commercial terms, with no interest charges or repayment term agreed.

Transactions with directors

During the year the directors entered into the following advances and credits with the company:
 

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Directors

(62,260)

2,500

(7,250)

(67,010)

         
       

 

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Directors

(74,952)

25,790

(13,098)

(62,260)

 

Summary of transactions with associates

Included within Other Creditors is a loan of £823 (2023 £10, 873) from an associated company Cedarcare (SE) Ltd which has the same directors. No repayment terms have been agreed and no interest has been charged.