Company registration number 03754654 (England and Wales)
LABURNUM HOUSE (SHAW) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
LABURNUM HOUSE (SHAW) LIMITED
COMPANY INFORMATION
Directors
Mr L Ramos
Mrs A Tan-Ramos
Secretary
Mrs A Tan-Ramos
Company number
03754654
Registered office
34 Scarisbrick New Road
Southport
PR8 6QE
Auditor
MHA
Richard House
9 Winckley Square
Preston
PR1 3HP
LABURNUM HOUSE (SHAW) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 24
LABURNUM HOUSE (SHAW) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The directors present the strategic report for the year ended 31 July 2024.

Review of the business

Laburnum House (Shaw) Limited continues to deliver specialist residential care for individuals living with dementia. Our mission remains centred on providing safe, person-centred environments that promote dignity, independence, and quality of life.

 

We are pleased to report that three of our homes maintained a “Good” rating with the Care Quality Commission, reflecting our ongoing commitment to compliance and excellence in care delivery.

 

Staff development remains a cornerstone of our success. We have continued to invest in ongoing training and review of policies to ensure our teams are equipped with the latest knowledge and tools to deliver high-quality dementia care. Our core values — love, excellence, integrity, teamwork, fun, and a servant’s heart — continue to guide our daily work and shape the resident experience.

 

We would like to extend our gratitude to our teams, residents, families, and wider stakeholders. Their support enables us to sustain our mission and grow stronger together.

 

Future developments

Looking ahead, the company is focused on maintaining its leadership in dementia residential care. Our priorities include further investment in our people, exploring person-centred care innovations, and enhancing operational resilience. We remain committed to quality and continuous improvement and aim to strengthen our offering by embedding new systems and improving service pathways.

 

Covid – 19

Operational adjustments introduced during the Covid-19 pandemic continued throughout the year. Our commitment to resident and staff safety remains steadfast, and we continue to maintain robust infection control and contingency protocols

Principal risks and uncertainties

Key risks managed by the business include:

 

 

Key performance indicators

 

LABURNUM HOUSE (SHAW) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 2 -

On behalf of the board

Mr L Ramos
Director
25 April 2025
LABURNUM HOUSE (SHAW) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 July 2024.

Principal activities

The principal activity of the company continued to be that of the operation and provision of special dementia care centres.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr L Ramos
Mrs A Tan-Ramos
Auditor

The auditor, MHA, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of risk management objectives and policies.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr L Ramos
Director
25 April 2025
LABURNUM HOUSE (SHAW) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JULY 2024
- 4 -

The directors are responsible for preparing the annual report 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LABURNUM HOUSE (SHAW) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF LABURNUM HOUSE (SHAW) LIMITED
- 5 -
Opinion

We have audited the financial statements of Laburnum House (Shaw) Limited (the 'company') for the year ended 31 July 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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 Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.

LABURNUM HOUSE (SHAW) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF LABURNUM HOUSE (SHAW) LIMITED (CONTINUED)
- 6 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:

LABURNUM HOUSE (SHAW) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF LABURNUM HOUSE (SHAW) LIMITED (CONTINUED)
- 7 -

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's report 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 member, for our audit work, for this report, or for the opinions we have formed.

Paul Williams BA(Hons) FCA
Senior Statutory Auditor
For and on behalf of MHA, Statutory Auditor
Preston, United Kingdom
25 April 2025
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
LABURNUM HOUSE (SHAW) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
4,406,143
3,999,180
Cost of sales
(2,707,204)
(2,276,417)
Gross profit
1,698,939
1,722,763
Administrative expenses
(1,137,563)
(1,064,670)
Other operating income
-
0
98,142
Operating profit
4
561,376
756,235
Interest receivable and similar income
6
18
5
Interest payable and similar expenses
7
(278,038)
(226,213)
Profit before taxation
283,356
530,027
Tax on profit
8
(93,181)
(137,873)
Profit for the financial year
190,175
392,154

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LABURNUM HOUSE (SHAW) LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
5,449,393
5,453,886
Current assets
Debtors
11
1,094,992
860,518
Cash at bank and in hand
70,348
50,503
1,165,340
911,021
Creditors: amounts falling due within one year
12
(2,533,333)
(2,523,134)
Net current liabilities
(1,367,993)
(1,612,113)
Total assets less current liabilities
4,081,400
3,841,773
Creditors: amounts falling due after more than one year
13
(29,618)
-
0
Provisions for liabilities
Deferred tax liability
15
371,158
351,324
(371,158)
(351,324)
Net assets
3,680,624
3,490,449
Capital and reserves
Called up share capital
17
10,000
10,000
Revaluation reserve
1,299,683
1,314,575
Profit and loss reserves
2,370,941
2,165,874
Total equity
3,680,624
3,490,449

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
Mr L Ramos
Director
Company registration number 03754654 (England and Wales)
LABURNUM HOUSE (SHAW) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 10 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 August 2022
10,000
1,329,467
1,983,708
3,323,175
Year ended 31 July 2023:
Profit and total comprehensive income
-
-
392,154
392,154
Dividends
9
-
-
(224,880)
(224,880)
Transfers
-
(14,892)
14,892
-
Balance at 31 July 2023
10,000
1,314,575
2,165,874
3,490,449
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
190,175
190,175
Transfers
-
(14,892)
14,892
-
Balance at 31 July 2024
10,000
1,299,683
2,370,941
3,680,624
LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 11 -
1
Accounting policies
Company information

Laburnum House (Shaw) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 34 Scarisbrick New Road, Southport, PR8 6QE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Bloomcare Group Limited. These consolidated financial statements are available from its registered office, 34 Scarisbrick New Road, Southport, PR8 6QE.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 12 -
1.2
Going concern

At 31 July 2024 the company had net current liabilities of £1,367,993. Included within creditors is £1,498,046 owed to fellow group companies and related companies which has arisen following the completion of a refinance in 2021. The loan is not expected to be due for repayment within twelve months of the year end as this repayment will be linked to the repayment of the external borrowings by the parent company which are being repaid over 5 years to 2026.

The ultimate parent company, Bloomcare Group Limited, along with its subsidiaries, are part of a group lending facility. Therefore, the directors have reviewed both the company and wider group’s going concern position.

At the time of approving the financial statements, the directors have considered the group's financial position and performance and have prepared detailed forecasts covering the period to July 2026.

With occupancy levels steadily reclaiming their pre-pandemic heights and showing promising growth in the upcoming periods, the group remains confident in its path to recovery. Despite the lingering challenges posed by the pandemic, including the higher use of agency staff and increased operational costs, the group has managed to maintain profitability.

Although certain banking covenants have been impacted previously, post year-end, in October 2024 and January 2025 covenants have no longer been breached. The calculations indicate that key performance indicators are trending positively, reflecting a robust recovery within the Group. It’s key lender has expressed a willingness to extend their lending facilities upon the conclusion of our current agreement. Overall, the bank's support reflects their confidence in our recovery and long-term performance.

The recent strengthening of the Senior Management Team and the implementation of a new strategic plan instil great confidence in the directors that the group will soon return to its previous levels of performance.

Based on the above, at the time of approving the financial statements, the directors have a reasonable expectation that both the company and wider group have adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents accrued sales of accommodation charges and nursing home services.

 

Revenue from contracts for the provision of care home and nursing services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by reference to the period of stay within the carehome and only when nursing services are provided and subsequently invoiced. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on valuation of buildings
Fixtures, fittings and equipment
25% on cost
LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 13 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The part of the annual depreciation charge on revalued assets which related to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 14 -
Other financial assets

All of the company's financial assets are classed as basic financial assets.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

All of the company's financial liabilities are classed as basic financial liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 15 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 16 -
1.12
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements
Assessing indicators of impairment

In assessing whether there have been any indicators of impaired assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no material indicators of impairment identified during the current financial year.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 17 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful lives of freehold land and buildings

The company depreciates tangible assets over their estimated useful lives. The estimation of useful lives of assets is based on expectations about future use as well as historic performance and therefore requires management to make some estimates based on assumptions.

 

The actual lives of assets, specifically buildings, can vary significantly due to external environmental factors and dilapidation, as well as the effect regular maintenance.

Estimating fair value of property

The company has opted to revalue property such that the value of property in the accounts more adequately reflects the current market value at the year end.

 

This requires some element of judgement as the directors have to estimate what they consider to be a fair market value. This is based on current market valuations of similar properties, and where applicable, they obtain advice from qualified professionals to support their estimates.

Provision for bad and doubtful debts

Throughout the year the company reviews the amounts receivable and makes a provision for bad and doubtful debts based on their knowledge of the circumstances and historic debt recovery.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Operation of care centres
4,406,143
3,999,180
2024
2023
£
£
Other revenue
Interest income
18
5
Grants received
-
93,846
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Government grants
-
(93,846)
Fees payable to the company's auditor for the audit of the company's financial statements
10,180
11,520
Depreciation of owned tangible fixed assets
132,776
111,721
Depreciation of tangible fixed assets held under finance leases
4,789
-
LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 18 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Management and head office
4
4
Care staff
120
113
Total
124
109

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,127,691
1,801,735
Social security costs
179,996
126,305
Pension costs
36,479
27,510
2,344,166
1,955,550
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
18
5
7
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
257,894
224,274
Other interest
20,144
1,939
278,038
226,213
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
73,347
114,893
LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
8
Taxation
2024
2023
£
£
(Continued)
- 19 -
Deferred tax
Origination and reversal of timing differences
19,834
18,617
Changes in tax rates
-
0
3,541
Adjustment in respect of prior periods
-
0
822
Total deferred tax
19,834
22,980
Total tax charge
93,181
137,873

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
283,356
530,027
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 21.01%)
70,839
111,359
Tax effect of expenses that are not deductible in determining taxable profit
872
-
0
Effect of change in corporation tax rate
-
0
3,541
Group relief
(2,332)
(1,104)
Depreciation on assets not qualifying for tax allowances
12,997
24,481
Other non-reversing timing differences
-
0
(26)
Deferred tax adjustments in respect of prior years
-
0
822
Fixed assets tax adjustments
10,805
-
0
Super-deduction
-
0
(1,200)
Taxation charge for the year
93,181
137,873
9
Dividends
2024
2023
£
£
Final paid
-
0
224,880
LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 20 -
10
Tangible fixed assets
Freehold land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost or valuation
At 1 August 2023
5,452,410
292,582
5,744,992
Additions
-
0
133,072
133,072
At 31 July 2024
5,452,410
425,654
5,878,064
Depreciation and impairment
At 1 August 2023
131,548
159,558
291,106
Depreciation charged in the year
58,988
78,577
137,565
At 31 July 2024
190,536
238,135
428,671
Carrying amount
At 31 July 2024
5,261,874
187,519
5,449,393
At 31 July 2023
5,320,862
133,024
5,453,886

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Fixtures, fittings and equipment
41,182
-
0

Freehold land and buildings were revalued in March 2021 by Frank Knight LLP, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. This is considered to be a reasonable estimate of the current fair value by the directors.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold land and buildings
2024
2023
£
£
Cost
4,122,400
4,122,400
Accumulated depreciation
(418,225)
(372,537)
Carrying value
3,704,175
3,749,863
LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 21 -
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
148,972
311,174
Amounts owed by group undertakings
884,622
525,471
Other debtors
7,985
78
Prepayments and accrued income
53,413
23,795
1,094,992
860,518
12
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
14
6,393
-
0
Trade creditors
69,074
109,333
Amounts owed to group undertakings
1,498,046
1,785,114
Corporation tax
196,306
163,035
Other taxation and social security
165,458
141,458
Other creditors
380,041
137,100
Accruals and deferred income
218,015
187,094
2,533,333
2,523,134
13
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
14
29,618
-
0
14
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
6,393
-
0
In two to five years
29,618
-
0
36,011
-
0

Finance lease payments represent rentals payable by the company for certain items of equipment. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 22 -
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
35,372
14,173
Revaluations
337,151
337,151
Retirement benefit obligations
(1,365)
-
371,158
351,324
2024
Movements in the year:
£
Liability at 1 August 2023
351,324
Charge to profit or loss
19,834
Liability at 31 July 2024
371,158
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
36,479
27,510

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10,000
10,000
10,000
10,000
18
Financial commitments, guarantees and contingent liabilities

The company has provided a debenture to a lender in the parent company which at 31 July 2024 amounted to £7,974,988.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 23 -
19
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
7,900
16,260
Between two and five years
2,256
6,772
10,156
23,032
20
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Category
Description of
Income
Expenditure
transaction
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
Loan interest
-
0
-
0
257,894
223,920
Entities with control, joint control or significant influence over the company
Management charges
-
0
-
0
440,160
424,080
Balances with related parties

The following amounts were outstanding at the reporting end date:

Category
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
811,669
-
0
-
0
1,785,114
Fellow group companies
72,952
98,069
1,498,046
625,244
Other related parties
7,985
78
103,697
100,000
Other information

Details of guarantees provided in respect of related parties can be found in note 18.

The company has taken advantage of the exemption permitted under Section 33.1A from disclosing transactions with the parent company.

LABURNUM HOUSE (SHAW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 24 -
21
Ultimate controlling party

The company is a wholly owned subsidiary of Ramos Healthcare Limited, a company registered in England and Wales. The registered office is 34 Scarisbrick New Road, Southport, United Kingdom, PR8 6QE.

The ultimate controlling party is Bloomcare Group Limited, a company registered in England and Wales. The registered office is 34 Scarisbrick New Road, Southport, United Kingdom, PR8 6QE.

 

The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Cardiff or from its registered office.

The following are the parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Bloomcare Group Limited
Smallest group
Bloomcare Group Limited
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