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REGISTERED NUMBER: 06572147 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

THE OLD VICARAGE CARE HOME LIMITED

THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE OLD VICARAGE CARE HOME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: D N Lock
K B Nelson
E S Philpott
C J White





SECRETARY: B M Granger





REGISTERED OFFICE: Homes Support Centre
1 Lutterworth Road
Burbage
Hinckley
Leicestershire
LE10 2DJ





REGISTERED NUMBER: 06572147 (England and Wales)





INDEPENDENT AUDITORS: Armstrongs Accountancy Ltd
Chartered Accountants and Statutory Auditor
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 185,324 195,429
185,324 195,429

CURRENT ASSETS
Debtors 6 441,204 492,640
Cash at bank and in hand 132,606 94,729
573,810 587,369
CREDITORS
Amounts falling due within one year 7 1,627,720 1,642,676
NET CURRENT LIABILITIES (1,053,910 ) (1,055,307 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(868,586

)

(859,878

)

PROVISIONS FOR LIABILITIES 141 733
NET LIABILITIES (868,727 ) (860,611 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (868,827 ) (860,711 )
SHAREHOLDERS' FUNDS (868,727 ) (860,611 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





C J White - Director


THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

The Old Vicarage Care Home 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The place of business for The Old Vicarage Care Home Limited is different to the registered office, the business address is The Old Vicarage Care Home, Stretton Road, Clay Cross, Chesterfield, Derbyshire, S45 9AQ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from contracts for the provision of professional 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 comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on reducing balance

THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

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.

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, 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 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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.


THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant judgements and estimates
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2024
and 28 February 2025 870,000
AMORTISATION
At 1 March 2024
and 28 February 2025 870,000
NET BOOK VALUE
At 28 February 2025 -
At 29 February 2024 -

THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2024
and 28 February 2025 192,118 359,476 551,594
DEPRECIATION
At 1 March 2024 38,435 317,730 356,165
Charge for year 3,843 6,262 10,105
At 28 February 2025 42,278 323,992 366,270
NET BOOK VALUE
At 28 February 2025 149,840 35,484 185,324
At 29 February 2024 153,683 41,746 195,429

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 15,990 16,725
Amounts owed by group undertakings 403,276 459,776
Other debtors 21,938 16,139
441,204 492,640

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 56,007 41,193
Amounts owed to group undertakings 1,411,432 1,448,709
Taxation and social security 12,538 12,937
Other creditors 147,743 139,837
1,627,720 1,642,676

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

THE OLD VICARAGE CARE HOME LIMITED (REGISTERED NUMBER: 06572147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

9. RESERVES
Retained
earnings
£   

At 1 March 2024 (860,711 )
Deficit for the year (8,116 )
At 28 February 2025 (868,827 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Muhammed Shabbir FCA, FCCA (Senior Statutory Auditor)
for and on behalf of Armstrongs Accountancy Ltd

11. ULTIMATE CONTROLLING PARTY

The controlling party is Adept Care Homes Limited.

The ultimate controlling party is D N Lock.

The company is a subsidiary of Adept Care Homes Limited, a company registered in the United Kingdom.

A copy of the parent company's accounts financial statements can be obtained from its registered office which is situated at Homes Support Centre, 1 Lutterworth Road, Burbage, Hinckley, Leicester's, LE10 2DJ.

12. SECURED DEBT

Clydesdale Bank Plc holds fixed and floating charge dated 09 September 2020 which covers all the property or undertaking of the Company.