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REGISTERED NUMBER: 04865826 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 August 2024

for

OAKVILLE CARE LIMITED

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


OAKVILLE CARE LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs R Patel
Mr A Patel





REGISTERED OFFICE: Panteg Farm Graig Road
Lisvane
Cardiff
CF14 0UF





REGISTERED NUMBER: 04865826 (England and Wales)





AUDITORS: Advantage Accountancy & Advisory Ltd
Chartered Certified Accountants
and Statutory Auditors
Avalon House
5-7 Cathedral Road
Cardiff
CF11 9HA

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Strategic Report
for the Year Ended 31 August 2024


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

REVIEW OF BUSINESS
The company's results for the year show a profit before taxation of £496,026 (2023 - £166,618). The shareholders funds total £5,516,867 (2023 - £5,264,370). The company's performance for the financial year ended 31 August 2024 is encouraging. Turnover increased to £3,751,376 during the year compared to £3,160,811 for 2022/23. Similarly, operating profits increased from £310,621 to £660,675 for the year ended 31 August 2024.

BUSINESS ENVIRONMENT
The sector in which the company operates is extremely competitive and highly regulated. The company holds a licence from Care Inspectorate Wales to allow it to operate its care home. The company, along with all other care homes is subject to unannounced inspections from Care Inspectorate Wales.

STRATEGY
The management and staff try to provide their service users with a "home from home". The focus is to create a stimulating environment that offers activities, independence and choice to the residents of the home. Management is dedicated to providing the highest possible standard of care in a comfortable environment. The company is dependent upon attracting and retaining well qualified nursing and other staff. The company relies on their professionalism and efficiency in satisfying both the needs of the residents and their health and safety requirements. Training is provided to develop the staff, deliver high quality tailored care and to reduce the operational risks associated with providing care to vulnerable people. This is the strategy that the directors are following to ensure that the company is a thriving, caring and profitable care home.

KEY PERFORMANCE INDICATORS
The company has made significant progress throughout the year in relation to achieving key elements of its strategy. The directors and senior management review the financial progress of the company by comparing the average occupancy rates. During the year ended 31 August 2024, average occupancy rates increased from 75% to 85%, once again evidencing the post Covid-19 recovery. It could take a couple of years or more for occupancy rates to recover completely. Reducing care budgets and the government and local authority drive to maintain service users in their homes will continue to affect the residency rates in the care home.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal commercial risk faced by the company is the loss of its licence to operate a care home provided by Care Inspectorate Wales. The directors operate a semi hands on approach to ensuring that the company's licence is protected. Systems and procedures have been put in place that ensure that the home is operated within the guidelines produced by Care Inspectorate Wales.

The principal financial risk to the business is in relation to the bank loan. There is a possibility that bank interest rates will increase in the future from their historically low levels. The company's bank loan is subject to various terms and conditions and the directors continue to monitor these to ensure compliance.

The company's credit risk is mainly attributable to its trade debtors. Where a resident changes from one type of funded care to another there can be delays in the home receiving payments. The directors closely monitor this and communicate with the appropriate authorities.

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Strategic Report
for the Year Ended 31 August 2024


FUTURE DEVELOPMENTS
Results since the balance sheet date continue to remain positive, however the company has experienced increased costs as a result of service requirements, occupancy pressures and higher staff costs as a result of measures brought in during the most recent budget.

The directors remain confident about the continuing financial performance of the business and are looking to develop the business further. It will continue to invest in capital expenditure to ensure that the home is maintained to a high standard for resident living.

In the opinion of the directors, there are no issues with going concern.

ON BEHALF OF THE BOARD:





Mrs R Patel - Director


27 May 2025

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Report of the Directors
for the Year Ended 31 August 2024


The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of residential care.

DIVIDENDS
The total distribution of dividends for the year ended 31 August 2024 will be £189,000 (2023: £78,000).

RESEARCH AND DEVELOPMENT
No significant research and developments activities were undertaken during the period ending 31 August 2024.

FUTURE DEVELOPMENTS
Please refer to the strategic report.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

Mrs R Patel
Mr A Patel

FINANCIAL INSTRUMENTS
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities. The company does not enter into any formally designated hedging arrangements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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:

-select suitable accounting policies 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 company 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Report of the Directors
for the Year Ended 31 August 2024


AUDITORS
The auditors, Advantage Accountancy & Advisory Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs R Patel - Director


27 May 2025

Report of the Independent Auditors to the Members of
Oakville Care Limited


Opinion
We have audited the financial statements of Oakville Care Limited (the 'company') for the year ended 31 August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its 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 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 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Oakville Care Limited


Matters on which we are required to report by exception
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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 Statement of Directors' Responsibilities set out on page four, 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 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.

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 a Report of the Auditors 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

•We obtained understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: The Companies Act 2006, UK corporate taxation laws, employment legislation and health and safety legislation.

•We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to management. We corroborated our inquiries through our review of legal correspondence.

•We assessed the susceptibility of the company's financial statements to material misstatements, including how fraud might occur. Audit procedures performed by the engagement team included:

Report of the Independent Auditors to the Members of
Oakville Care Limited



• making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud;

• identifying and assessing the design effectiveness of controls management has in place to prevent and
detect fraud;

• understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
• performing analytical procedures to identify any unusual or unexpected relationships;
• challenging assumptions and judgements made by management in its significant accounting estimates;

• identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations; and
• assessing the extent of compliance with relevant laws and regulations.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

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 2006. Our 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 a Report of the Auditors 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.




Stephen John Bickerton (Senior Statutory Auditor)
for and on behalf of Advantage Accountancy & Advisory Ltd
Chartered Certified Accountants
and Statutory Auditors
Avalon House
5-7 Cathedral Road
Cardiff
CF11 9HA

27 May 2025

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Statement of Comprehensive
Income
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

TURNOVER 3 3,751,376 3,160,811

Cost of sales (2,568,469 ) (2,314,648 )
GROSS PROFIT 1,182,907 846,163

Administrative expenses (522,232 ) (535,542 )
OPERATING PROFIT 5 660,675 310,621

Interest receivable and similar income 7 1,426 2,850
662,101 313,471

Interest payable and similar expenses 8 (166,075 ) (146,853 )
PROFIT BEFORE TAXATION 496,026 166,618

Tax on profit 9 (54,529 ) (52,263 )
PROFIT FOR THE FINANCIAL YEAR 441,497 114,355

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

441,497

114,355

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 11 2,955,509 3,018,619

CURRENT ASSETS
Debtors 12 4,165,261 4,125,971
Cash at bank 561,563 545,067
4,726,824 4,671,038
CREDITORS
Amounts falling due within one year 13 446,528 285,788
NET CURRENT ASSETS 4,280,296 4,385,250
TOTAL ASSETS LESS CURRENT LIABILITIES 7,235,805 7,403,869

CREDITORS
Amounts falling due after more than one
year

14

(1,692,084

)

(2,104,938

)

PROVISIONS FOR LIABILITIES 16 (26,854 ) (34,561 )
NET ASSETS 5,516,867 5,264,370

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 5,516,767 5,264,270
SHAREHOLDERS' FUNDS 5,516,867 5,264,370

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Mrs R Patel - Director


OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 100 5,227,915 5,228,015

Changes in equity
Dividends - (78,000 ) (78,000 )
Total comprehensive income - 114,355 114,355
Balance at 31 August 2023 100 5,264,270 5,264,370

Changes in equity
Dividends - (189,000 ) (189,000 )
Total comprehensive income - 441,497 441,497
Balance at 31 August 2024 100 5,516,767 5,516,867

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Oakville Care 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 (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except that as disclosed in the accounting policies, certain items are shown at fair value.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirement of paragraph 33.7.

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

Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no material balances where uncertain accounting estimates are used.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 0% - 2% straight line
Plant and machinery - 10% Straight line
Fixtures and fittings - 10% Straight line

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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

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

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

Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

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

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

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.

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Rendering of services 3,751,376 3,160,811
3,751,376 3,160,811

The whole of turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,165,784 1,977,050
Social security costs 179,288 143,656
Other pension costs 45,644 38,869
2,390,716 2,159,575

The average number of employees during the year was as follows:
2024 2023

Production staff 2 2
Distribution staff 4 8
Administrative staff 94 99
100 109

2024 2023
£    £   
Directors' remuneration 20,818 17,688

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 97,057 95,516

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

7,200

6,390

7. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Interest receivable 1,426 2,850

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 166,075 146,853

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 62,236 45,466
Over/under provision in prior year - 63
Total current tax 62,236 45,529

Deferred tax (7,707 ) 6,734
Tax on profit 54,529 52,263

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 496,026 166,618
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.330%)

124,007

35,540

Effects of:
Expenses not deductible for tax purposes 3,120 15
Income not taxable for tax purposes - 63
Depreciation in excess of capital allowances 15,544 16,294
Rounding on tax charge - (588 )
Effect of change in tax rates - 939
Group relief (80,435 ) -
Deferred tax timing differences (7,707 ) -
Total tax charge 54,529 52,263

10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim 189,000 78,000

11. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 September 2023 4,286,579 121,390 605,610 5,013,579
Additions - - 33,947 33,947
At 31 August 2024 4,286,579 121,390 639,557 5,047,526
DEPRECIATION
At 1 September 2023 1,374,869 93,010 527,081 1,994,960
Charge for year 75,729 4,792 16,536 97,057
At 31 August 2024 1,450,598 97,802 543,617 2,092,017
NET BOOK VALUE
At 31 August 2024 2,835,981 23,588 95,940 2,955,509
At 31 August 2023 2,911,710 28,380 78,529 3,018,619

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


11. TANGIBLE FIXED ASSETS - continued

Tangible assets with a carrying value of £2,835,981 (2023: £2,911,710) are pledged as security for the company's bank loan.

Included in Freehold property is an amount of £500,000 which is not depreciated as it relates to land owned by the company.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 148,992 157,107
Amounts owed by group undertakings 3,638,253 3,759,915
Other debtors 304,885 157,475
Prepayments and accrued income 73,131 51,474
4,165,261 4,125,971

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 227,500 132,152
Trade creditors 47,850 44,719
Tax 62,236 19,641
Social security and other taxes 43,026 35,320
Other creditors 18,859 16,522
Accruals and deferred income 47,057 37,434
446,528 285,788

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 15) 1,692,084 2,104,938

The bank loan is secured by the company.

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 227,500 132,152

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,692,084 2,104,938

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


15. LOANS - continued

The loan is repayable in monthly installments over the period to June 2026 at an interest rate of 2.62% above the bank's base rate.

Secured borrowings
The bank loan is secured on the freehold property of the company which has a carrying value of £2,835,981 (2023: £2,911,710).

Handelsbanken Plc have an unlimited cross guarantee over the assets of companies related by common control. The loan is also secured by a debenture charge over the company' other assets by a directors life insurance policy.

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,854 34,561

Deferred
tax
£   
Balance at 1 September 2023 34,561
Credit to Statement of Comprehensive Income during year (7,707 )
Balance at 31 August 2024 26,854

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

18. RESERVES
Retained
earnings
£   

At 1 September 2023 5,264,270
Profit for the year 441,497
Dividends (189,000 )
At 31 August 2024 5,516,767

OAKVILLE CARE LIMITED (REGISTERED NUMBER: 04865826)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


19. PENSION COMMITMENTS

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £45,519 (2023: £38,791).

Contributions totalling £18,859 (2023:£16,522) were payable to the scheme at the end of the period and are included in creditors.

20. RELATED PARTY DISCLOSURES

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.

The company is a wholly owned subsidiary of Oakville (South Wales) Limited, the immediate and ultimate parent undertaking. Copies of the consolidated financial statements can be obtained from the registered office of Oakville (South Wales) Limited, Panteg Farm, Graig Road, Lisvane, Cardiff, Wales, CF14 0UF.

Included in other debtors is a balance of £134,816 (2023: £85,190) due from Llantarnam Care Ltd. The balance is interest free, unsecured and has no set repayment terms. The companies are related by virtue of common directors.

Included in other debtors is a balance of £111,558 (2023: £61,489) due from Isca Care Ltd. The balance is interest free, unsecured and has no set repayment terms. The companies are related by virtue of common directors.