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Registered number: 03951868
















BOWDEN DERRA PARK LIMITED




ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024


































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BOWDEN DERRA PARK LIMITED

 
COMPANY INFORMATION


DIRECTORS
Mr D E Cash 
Mrs F Harris 
Mr J Steed (appointed 19 October 2023)




REGISTERED NUMBER
03951868



REGISTERED OFFICE
Bowden Derra Park
Polyphant

Launceston

Cornwall

PL15 7PU




INDEPENDENT AUDITORS
Bishop Fleming LLP
Chartered Accountants & Statutory Auditors

Chy Nyverow

Newham Road

Truro

Cornwall

TR1 2DP




BANKERS
Santander UK PLC
Bridle Road

Bootle

Merseyside

L30 4GB





NatWest

1st Floor

6 St Andrews Cross

Plymouth

Devon

PL4 0WB





Svenska Handelsbanken AB

Ground Floor, Salt Quay House

4 North East Quay

Sutton Harbour

Plymouth

Devon

PL4 0BN




Barclays Bank PLC
1 Churchill Place

London

E14 5HP






BOWDEN DERRA PARK LIMITED


CONTENTS



Page
Group strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 7
Consolidated statement of comprehensive income
 
8
Consolidated statement of financial position
 
9
Company statement of financial position
 
10
Consolidated statement of changes in equity
 
11
Company statement of changes in equity
 
12
Consolidated statement of cash flows
 
13
Consolidated analysis of net debt
 
14
Notes to the financial statements
 
15 - 31



BOWDEN DERRA PARK LIMITED

 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

INTRODUCTION
 
The principal activity of the group is providing comprehensive care support to adults with all types of learning and associated disabilities in a community setting. The group provides a diverse range of accommodation and support and has excellent additional facilities.

BUSINESS REVIEW
 
The company continues to provide skilled support for adults with a wide range of needs, including learning disabilities and complex health needs. Occupancy levels have remained constant during the financial year, and the continuing enquiries for placements at Bowden Derra Park proves that there is both a need and a strong local, if not national, demand for the services we provide. We firmly believe that all service users, with the support of their families, are entitled to have a full range of choice of where they want to live, and Bowden Derra Park provides a unique setting for those who live here to have as full and independent a life as possible. We continue to improve and expand the services we offer, including for example our hydrotherapy pool, which is enjoyed by the service users who live here and also other individuals and care providers.
Whilst funding of both the Health and Adult Social Care sectors continues to remain difficult for all care providers, there is a strong demand for the skilled services the business offers, both from geographically close local authorities and those further away, with enquires for placements being received on a regular basis. The directors are confident that the company will maintain its current level of performance.
Staffing in the care sector is challenging for the whole sector including the NHS, and staffing levels are monitored constantly. Our commitment to providing a motivating work environment, coupled with extensive training, helps to retain our staff, with the use of agency staff kept to a minimum.
Forecasts for the next twelve months indicate stable profitability and sufficient working capital to meet ongoing liabilities, and the directors are of the opinion it is appropriate for the financial statements to be drawn up on a going concern basis.

PRINCIPAL RISKS AND UNCERTAINTIES
 
Risks affecting the group include the future government funding policies for care services, and the availability of credit and interest rate policies. In addition, various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise directly from the group's operations.
The group monitors credit risk closely and considers that its current policies of credit checks meet its objectives of managing exposure to credit risk.
The group has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments. 

FINANCIAL KEY PERFORMANCE INDICATORS
 
The principal key performance indicators for the group are operating profit and net assets. Operating profit for 2024 is £814,287 (2023: £1,296,735) and net assets are £7,127,437 (2023: £6,742,313).


This report was approved by the board on 28 April 2025 and signed on its behalf.



Mrs F Harris
Director

Page 1


BOWDEN DERRA PARK LIMITED

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024

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

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £385,124 (2023: £950,842).

No dividends were voted during the year.

DIRECTORS

The directors who served during the year were:

Mr D E Cash 
Mrs F Harris 
Mr J Steed (appointed 19 October 2023)

FUTURE DEVELOPMENTS

With diverse types of accommodation and excellent facilities including a hydrotherapy pool, restaurant and conference facilities, the directors are keen to expand both the range of care currently provided and to extend its offering to include training for other care providers and conference room hire.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as each of the directors is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and

each of the directors has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.

Page 2


BOWDEN DERRA PARK LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
AUDITORS

The auditorsBishop Fleming LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 






Mrs F Harris
Director

Date: 28 April 2025

Bowden Derra Park
Polyphant
Launceston
Cornwall
PL15 7PU

Page 3


BOWDEN DERRA PARK LIMITED

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED
OPINION


We have audited the financial statements of Bowden Derra Park Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 July 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated and Company Statements of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated and Company Statements of Changes in Equity, the Consolidated Analysis of Net Debt and the related notes, including a summary of significant accounting policiesThe 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:


give a true and fair view of the state of the Group's and of the parent company's affairs as at 31 July 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other 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 Group's or the parent 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 Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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.


Page 4


BOWDEN DERRA PARK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED (CONTINUED)

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

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


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

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


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:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' responsibilities statement set out on page 2, 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 Group's and the parent 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 Group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 5


BOWDEN DERRA PARK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED (CONTINUED)

AUDITORS' 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 Auditors' 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 Group 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We have considered the nature of the industry and sector, control environment and business performance;
We have considered the results of our enquiries of management about their own identification and assessment of the risks of irregularities;
Any matters identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
°Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
°The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements, and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in revenue recognition cut-off.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls.
We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, Financial Reporting Standard 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate or avoid a material penalty. These included food safety regulations, customer care regulations, data protection regulations, occupational health and safety regulations, and employment legislation.
Our procedures to respond to the risks identified included the following:
 
Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
Enquiring of management concerning actual and potential litigation and claims;
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

 
Page 6


BOWDEN DERRA PARK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED (CONTINUED)

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessment whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


USE OF OUR REPORT
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.






Alison Oliver FCA (Senior statutory auditor)
for and on behalf of
Bishop Fleming LLP
Chartered Accountants
Statutory Auditors
Chy Nyverow
Newham Road
Truro
Cornwall
TR1 2DP

28 April 2025
Page 7


BOWDEN DERRA PARK LIMITED

 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024
2023
Note
£
£

  

Turnover
 4 
9,428,297
9,114,299

Cost of sales
  
(6,323,769)
(5,799,727)

Gross profit
  
3,104,528
3,314,572

Administrative expenses
  
(2,353,781)
(2,079,337)

Other operating income
 5 
63,540
61,500

Operating profit
 6 
814,287
1,296,735

Interest receivable and similar income
 10 
24,012
31,661

Interest payable and similar expenses
 11 
(272,119)
(220,006)

Profit before taxation
  
566,180
1,108,390

Tax on profit
 12 
(181,056)
(157,548)

Profit for the financial year
  
385,124
950,842

  

Total comprehensive income for the year
  
385,124
950,842

Profit for the year attributable to:
  

Owners of the parent company
  
385,124
950,842

  
385,124
950,842

The notes on pages 15 to 31 form part of these financial statements.

Page 8


BOWDEN DERRA PARK LIMITED
REGISTERED NUMBER:03951868

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
8,947,418
9,043,300

  
8,947,418
9,043,300

Current assets
  

Stocks
 15 
14,536
12,552

Debtors: amounts falling due within one year
 16 
2,014,680
1,546,374

Cash at bank and in hand
 17 
967,002
1,310,412

  
2,996,218
2,869,338

Creditors: amounts falling due within one year
 18 
(1,551,894)
(1,628,830)

Net current assets
  
 
 
1,444,324
 
 
1,240,508

Total assets less current liabilities
  
10,391,742
10,283,808

Creditors: amounts falling due after more than one year
 19 
(3,228,466)
(3,520,970)

Provisions for liabilities
  

Deferred taxation
 22 
(35,839)
(20,525)

  
 
 
(35,839)
 
 
(20,525)

Net assets
  
7,127,437
6,742,313


Capital and reserves
  

Called up share capital 
 23 
1,000
1,000

Profit and loss account
  
7,126,437
6,741,313

Equity attributable to owners of the parent company
  
7,127,437
6,742,313

  
7,127,437
6,742,313


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mrs F Harris
Director 

Date: 28 April 2025

The notes on pages 15 to 31 form part of these financial statements.

Page 9


BOWDEN DERRA PARK LIMITED
REGISTERED NUMBER:03951868

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
5,174,654
5,222,784

Investments
 14 
102
102

  
5,174,756
5,222,886

Current assets
  

Stocks
 15 
2,000
1,500

Debtors: amounts falling due after more than one year
 16 
626,862
627,272

Debtors: amounts falling due within one year
 16 
5,037,039
4,432,426

Cash at bank and in hand
 17 
962,176
1,307,389

  
6,628,077
6,368,587

Creditors: amounts falling due within one year
 18 
(1,453,680)
(1,534,940)

Net current assets
  
 
 
5,174,397
 
 
4,833,647

Total assets less current liabilities
  
10,349,153
10,056,533

  

Creditors: amounts falling due after more than one year
 19 
(2,440,426)
(2,664,409)

Provisions for liabilities
  

Deferred taxation
 22 
(27,337)
(20,022)

  
 
 
(27,337)
 
 
(20,022)

Net assets
  
7,881,390
7,372,102


Capital and reserves
  

Called up share capital 
 23 
1,000
1,000

Profit and loss account
  
7,880,390
7,371,102

  
7,881,390
7,372,102


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mrs F Harris
Director

Date: 28 April 2025

The notes on pages 15 to 31 form part of these financial statements.

Page 10


BOWDEN DERRA PARK LIMITED


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
1,000
5,790,471
5,791,471


Comprehensive income for the year

Profit for the year
-
950,842
950,842
Total comprehensive income for the year
-
950,842
950,842


Total transactions with owners
-
-
-



At 1 August 2023
1,000
6,741,313
6,742,313


Comprehensive income for the year

Profit for the year
-
385,124
385,124
Total comprehensive income for the year
-
385,124
385,124


Total transactions with owners
-
-
-


At 31 July 2024
1,000
7,126,437
7,127,437


The notes on pages 15 to 31 form part of these financial statements.

Page 11


BOWDEN DERRA PARK LIMITED


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
1,000
6,325,515
6,326,515


Comprehensive income for the year

Profit for the year
-
1,045,587
1,045,587
Total comprehensive income for the year
-
1,045,587
1,045,587


Total transactions with owners
-
-
-



At 1 August 2023
1,000
7,371,102
7,372,102


Comprehensive income for the year

Profit for the year
-
509,288
509,288


Total transactions with owners
-
-
-


At 31 July 2024
1,000
7,880,390
7,881,390


The notes on pages 15 to 31 form part of these financial statements.

Page 12


BOWDEN DERRA PARK LIMITED


CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
385,124
950,842

Adjustments for:

Depreciation of tangible assets
281,769
250,076

Loss on disposal of tangible assets
125
144

Government grants
(63,540)
(61,500)

Interest paid
272,119
220,006

Interest received
(24,012)
(31,661)

Taxation charge
165,742
157,548

(Increase) in stocks
(1,984)
(740)

(Increase) in debtors
(282,137)
(196,126)

(Decrease)/increase in creditors
(101,787)
129,670

Increase/(decrease) in provisions
15,314
(2,975)

Corporation tax (paid)
(329,667)
(350,851)

Net cash generated from operating activities

317,066
1,064,433


Cash flows from investing activities

Purchase of tangible fixed assets
(186,012)
(136,418)

Government grants received
63,540
61,500

Interest received
24,012
31,661

HP interest paid
(2,612)
(1,526)

Net cash from investing activities

(101,072)
(44,783)

Cash flows from financing activities

Repayment of loans
(278,071)
(271,734)

Repayment of/new finance leases
(11,827)
8,814

Interest paid
(269,507)
(218,480)

Net cash used in financing activities
(559,405)
(481,400)

Net (decrease)/increase in cash and cash equivalents
(343,411)
538,250

Cash and cash equivalents at beginning of year
1,310,412
772,162

Cash and cash equivalents at the end of year
967,001
1,310,412


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
967,001
1,310,412


The notes on pages 15 to 31 form part of these financial statements.

Page 13


BOWDEN DERRA PARK LIMITED


CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 JULY 2024




At 1 August 2023
Cash flows
At 31 July 2024
£

£

£

Cash at bank and in hand

1,310,412

(343,410)

967,002

Debt due after 1 year

(3,502,018)

280,143

(3,221,875)

Debt due within 1 year

(278,072)

(2,072)

(280,144)

Finance leases

(31,294)

11,827

(19,467)



(2,500,972)
(53,512)
(2,554,484)

The notes on pages 15 to 31 form part of these financial statements.

Page 14


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


GENERAL INFORMATION

Bowden Derra Park Limited is a limited liability company incorporated in England. The registered office is Bowden Derra Park, Polyphant, Launceston, Cornwall, PL15 7PU.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 August 2015.

 
2.3

GOING CONCERN

After reviewing the Group's forecasts and projections, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore adopts the going concern basis in preparing its financial statements. 

Page 15


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Plant and machinery
-
10%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.

Page 16


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.11

FINANCIAL INSTRUMENTS

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
 
 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.13

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt on the basis of invoices received from the lender. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.14

OPERATING LEASES: THE GROUP AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 17


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.15

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.16

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.17

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

  
2.18

CURRENT AND DEFERRED TAX

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except for a charge attributable to an item of income and expense which is recognised as other comprehensive income or for an item recognised directly in equity which is also recognised in other comprehensive income or directly in equity respectively.

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 and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 18


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Intercompany balances and recoverability
The company assesses at each reporting date whether an intercompany debt is recoverable. If any indication exists that there may be doubts over the recoverability of the debt, the company estimates the recoverable amount of the debt and includes a provision for the estimated irrecoverable amount.


4.


TURNOVER

The whole of the turnover is attributable to the company's principal activity.

All turnover arose within the United Kingdom.


5.


OTHER OPERATING INCOME

2024
2023
£
£

Government grants receivable
63,540
61,500

63,540
61,500



6.


OPERATING PROFIT

The operating profit is stated after charging:

2024
2023
£
£

Other operating lease rentals
35,140
29,697


7.


AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
20,950
19,300

Fees payable to the company's auditors in respect of:

The auditing of accounts of associates of the company
10,050
9,900

All other services
-
1,250

Page 19


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


EMPLOYEES

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
5,291,306
4,577,713
5,258,636
4,546,966

Social security costs
486,388
418,043
483,539
415,686

Cost of defined contribution scheme
98,090
81,780
97,404
81,120

5,875,784
5,077,536
5,839,579
5,043,772


The average number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administrative
11
11



Care and nursing
157
151



Cleaning and maintenance
16
15



Catering
9
8



Shop
1
1

194
186


9.


DIRECTORS' REMUNERATION

2024
2023
£
£

Directors' emoluments
389,500
246,700

Group contributions to defined contribution pension schemes
2,438
1,117

391,938
247,817


During the year retirement benefits were accruing to 2 directors (2023: 1) in respect of defined contribution pension schemes.


10.


INTEREST RECEIVABLE

2024
2023
£
£


Other interest receivable
24,012
31,661

24,012
31,661
Page 20


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


INTEREST PAYABLE AND SIMILAR EXPENSES

2024
2023
£
£


Bank interest payable
269,497
217,575

Other interest payable
10
121

Finance leases and hire purchase contracts
2,612
1,526

Other interest payable
-
784

272,119
220,006


12.


TAXATION


2024
2023
£
£

CORPORATION TAX


Current tax on profits for the year
180,892
261,583

Adjustments in respect of previous periods
(15,150)
(121,082)


165,742
140,501


TOTAL CURRENT TAX
165,742
140,501

DEFERRED TAX


Origination and reversal of timing differences
15,314
17,047

TOTAL DEFERRED TAX
15,314
17,047


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
181,056
157,548
Page 21


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
12.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25% (2023: 21%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
566,180
1,108,390


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023: 21%)
141,545
232,762

EFFECTS OF:


Capital allowances for year in excess of depreciation
157,268
122,398

Other differences leading to an increase (decrease) in the tax charge
(117,757)
(197,612)

TOTAL TAX CHARGE FOR THE YEAR
181,056
157,548


Page 22

BOWDEN DERRA PARK LIMITED



 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
  



13.


TANGIBLE FIXED ASSETS


Group







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 August 2023
9,468,282
436,012
286,654
837,998
73,428
11,102,374


Additions
-
20,425
-
141,898
23,689
186,012


Disposals
-
-
-
(441)
-
(441)



At 31 July 2024

9,468,282
456,437
286,654
979,455
97,117
11,287,945



DEPRECIATION


At 1 August 2023
699,906
378,578
241,534
680,634
58,422
2,059,074


Charge for the year on owned assets
176,228
25,841
17,250
55,598
6,852
281,769


Disposals
-
-
-
(316)
-
(316)



At 31 July 2024

876,134
404,419
258,784
735,916
65,274
2,340,527



NET BOOK VALUE



At 31 July 2024
8,592,148
52,018
27,870
243,539
31,843
8,947,418



At 31 July 2023
8,768,376
57,434
45,120
157,364
15,006
9,043,300

Page 23

BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

           13.TANGIBLE FIXED ASSETS (CONTINUED)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
8,592,148
8,768,376

8,592,148
8,768,376


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


As restated
2024
2023
£
£



Motor vehicles
20,474
33,342

20,474
33,342

Page 24

BOWDEN DERRA PARK LIMITED



 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
  


           13.TANGIBLE FIXED ASSETS (CONTINUED)



Company







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£

COST OR VALUATION


At 1 August 2023
5,393,915
428,367
286,654
754,820
72,804
6,936,560


Additions
-
-
-
132,746
23,689
156,435


Disposals
-
-
-
(441)
-
(441)



At 31 July 2024

5,393,915
428,367
286,654
887,125
96,493
7,092,554



DEPRECIATION


At 1 August 2023
430,464
376,522
241,534
607,403
57,853
1,713,776


Charge for the year on owned assets
107,615
21,314
17,250
51,431
6,830
204,440


Disposals
-
-
-
(316)
-
(316)



At 31 July 2024

538,079
397,836
258,784
658,518
64,683
1,917,900



NET BOOK VALUE



At 31 July 2024
4,855,836
30,531
27,870
228,607
31,810
5,174,654



At 31 July 2023
4,963,451
51,845
45,120
147,417
14,951
5,222,784


Page 25

BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

           13.TANGIBLE FIXED ASSETS (CONTINUED)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
4,855,836
4,963,451

4,855,836
4,963,451



14.


FIXED ASSET INVESTMENTS

Company





Investments in subsidiary companies

£



COST OR VALUATION


At 1 August 2023
102



At 31 July 2024
102





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the company:

Name

Class of shares

Holding

Park Independents Limited
Ordinary
100%
Wood Row Park Limited
Ordinary
100%
Ardden Care Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 July 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings was as follows:

Name

Park Independents Limited

Wood Row Park Limited

Ardden Care Limited


Page 26


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

15.


STOCKS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Raw materials and consumables
2,000
1,500
2,000
1,500

Finished goods and goods for resale
12,536
11,052
-
-

14,536
12,552
2,000
1,500



16.


DEBTORS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

DUE AFTER ONE YEAR

Amounts owed by group undertakings
-
-
626,862
627,272

-
-
626,862
627,272


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

DUE WITHIN ONE YEAR

Trade debtors
206,720
273,441
206,720
273,441

Amounts owed by group undertakings
-
-
3,034,165
2,898,130

Other debtors
1,698,373
1,193,563
1,697,616
1,191,265

Prepayments and accrued income
109,587
79,370
98,538
69,590

2,014,680
1,546,374
5,037,039
4,432,426



17.


CASH AND CASH EQUIVALENTS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
967,002
1,310,412
962,176
1,307,389

967,002
1,310,412
962,176
1,307,389


Page 27


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

18.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
280,144
278,072
211,623
210,058

Trade creditors
304,629
372,983
290,563
364,622

Corporation tax
285,969
263,724
285,969
263,724

Other taxation and social security
162,906
153,943
159,255
149,969

Obligations under finance lease and hire purchase contracts
12,876
12,342
12,876
12,342

Other creditors
280,531
290,650
279,255
289,607

Accruals and deferred income
224,839
257,116
214,139
244,618

1,551,894
1,628,830
1,453,680
1,534,940



19.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
3,221,875
3,502,018
2,433,835
2,645,457

Net obligations under finance leases and hire purchase contracts
6,591
18,952
6,591
18,952

3,228,466
3,520,970
2,440,426
2,664,409




Page 28


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

20.


LOANS


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
280,144
278,072
211,623
210,058


280,144
278,072
211,623
210,058


AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
3,221,875
3,502,018
2,433,835
2,645,457


3,221,875
3,502,018
2,433,835
2,645,457


3,502,019
3,780,090
2,645,458
2,855,515



21.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Within one year
12,876
12,342
12,876
12,342

Between 1-5 years
6,591
18,952
6,591
18,952

19,467
31,294
19,467
31,294

Page 29


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

22.


DEFERRED TAXATION


Group



2024


£






At beginning of year
(20,525)


Charged to profit or loss
(15,314)



AT END OF YEAR
(35,839)

Company


2024


£






At beginning of year
(20,022)


Charged to profit or loss
(7,315)



AT END OF YEAR
(27,337)

The provision for deferred taxation is made up as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
(35,839)
(20,525)
(27,337)
(20,022)

(35,839)
(20,525)
(27,337)
(20,022)


23.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2023: 1,000) Ordinary shares of £1.00 each
1,000
1,000



24.


PENSION COMMITMENTS

The group operates a defined contributions pension scheme, The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £98,090 (2023: £81,780), there was an amount of £18,661 (2023: £24,407) in other creditors relating to these contributions.

Page 30


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

25.


COMMITMENTS UNDER OPERATING LEASES

At 31 July 2024 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
28,163
20,155
21,564
16,570

Later than 1 year and not later than 5 years
51,974
11,856
47,238
8,919

80,137
32,011
68,802
25,489


26.


RELATED PARTY TRANSACTIONS

At 31 July 2024 the company was owed £104,515 (2023: £119,471) by Derra Park Stud, a business under the control of Mr Cash, a director. During the year, the company purchased services of £13,786 (2023: £42,863) from Derra Park Stud. 
At 31 July 2024, Mr Cash owed the company £975,811 (2023: £694,249). This is included in other debtors due within one year. Mr Cash is a director and shareholder of the company.
The company has taken advantage of the exemption to not disclose transactions between members of the group as permitted in accordance with FRS102.
Total remuneration paid to key management personnel for the year was £391,938 (2023: £301,395).


27.


POST BALANCE SHEET EVENTS

The Company Ardden Care Limited was dissolved on 8 October 2024.


28.


CONTROLLING PARTY

Mr David Cash (director) is the ultimate controlling party.

Page 31