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COMPANY REGISTRATION NUMBER: 03512344
Opus Care Limited
Financial Statements
30 September 2024
Opus Care Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Strategic report
1
Director's report
3
Independent auditor's report to the member
5
Statement of income and retained earnings
9
Statement of financial position
10
Statement of cash flows
11
Notes to the financial statements
12
Opus Care Limited
Strategic Report
Year ended 30 September 2024
Business Review Opus Care Limited is a leading care home business in the UK, dedicated to providing high-quality residential care services for elderly individuals. Our care homes offer a comfortable and safe environment, personalised care plans, and a range of amenities to ensure the well-being and happiness of our residents. With all four floors now fully open at our newest state of the art 110 bed care home, occupancy rates have again increased since the prior year which is directly reflected in the increase in turnover for the year. Our existing home remains profitable with strong occupancy rates. The specialised dementia care wing has diversified the offering we can make in supporting our residents. We are committed to providing a high level of care to our residents and the most recent Care Quality Commission reports confirm that we are meeting our responsibilities and obligations to residents. Key Performance Indicators Turnover for the year £11,872,620 (2023: £8,849,661) Profit/(loss) before tax for the year £2,335,787 (2023: £652,698) Future Plans Our mission is to enhance the quality of life for our residents by providing exceptional care, promoting independence, and fostering a warm and inclusive community within our care homes. We aim to be recognised as the care home of choice in the local area and beyond, setting the benchmark for excellence in elderly care and becoming a trusted partner for families seeking compassionate and professional support. Work continues to attract new residents to reach capacity at our new care home. The company has the full support of our director and bankers. We continuously improve the quality of care by investing in training and development programs for staff. Financial Risk Management Objectives and Policies Risks associated with regulatory compliance, reputation, and operational challenges are regularly assessed and managed. We maintain robust governance and compliance frameworks to ensure adherence to industry standards. We continuously monitor and respond to changes in legislation and government regulations. We have considered the risks of credit, interest, cashflow and pricing and their potential impact on the business. The director believes that appropriate controls and procedures are in place to manage these risks so they do not have a significant impact on the business.
This report was approved by the board of directors on 3 June 2025 and signed on behalf of the board by:
Dr D S Kinnersley
Director
Registered office:
Brabourne Care Centre
209 Hythe Road
Ashford
Kent
TN24 8PL
Opus Care Limited
Director's Report
Year ended 30 September 2024
The director presents his report and the financial statements of the company for the year ended 30 September 2024 .
Director
The director who served the company during the year was as follows:
Dr D S Kinnersley
Dividends
The director does not recommend the payment of a dividend.
Disclosure of information in the strategic report
The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.
Director's responsibilities statement
The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments 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 director is 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. He is 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 3 June 2025 and signed on behalf of the board by:
Dr D S Kinnersley
Director
Registered office:
Brabourne Care Centre
209 Hythe Road
Ashford
Kent
TN24 8PL
Opus Care Limited
Independent Auditor's Report to the Member of Opus Care Limited
Year ended 30 September 2024
Opinion
We have audited the financial statements of Opus Care Limited (the 'company') for the year ended 30 September 2024 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, 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 FRS 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 30 September 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's 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 director's 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 director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the director's 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's 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, 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 director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of the director
As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered; the nature of the industry, control environment and business performance with particular reference to the Company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets. Throughout the audit testing we are considering the incentives that may exist within the organisation for fraud. Key areas include timing of recognising income around the year end, posting of unusual journals and manipulating the Company's performance measures to meet targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We ensure we have an understanding of the relevant laws and regulations and remain alert to possible non-compliance throughout the audit. Despite proper planning and audit work in accordance with auditing standards there are inherent limitations and unavoidable risk that we may not detect some irregularities and material misstatements in the financial statements. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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 an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Field FCA CTA
(Senior Statutory Auditor)
For and on behalf of
Burgess Hodgson LLP
Chartered accountants & statutory auditor
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
3 June 2025
Opus Care Limited
Statement of Income and Retained Earnings
Year ended 30 September 2024
2024
2023
Note
£
£
Turnover
4
11,872,620
8,849,661
Cost of sales
7,091,112
6,197,267
-------------
------------
Gross profit
4,781,508
2,652,394
Administrative expenses
2,028,812
1,695,437
Other operating income
5
11,912
41,748
------------
------------
Operating profit
6
2,764,608
998,705
Other interest receivable and similar income
9
13,643
2,623
Interest payable and similar expenses
10
442,464
348,630
------------
------------
Profit before taxation
2,335,787
652,698
Tax on profit
11
652,885
312,984
------------
---------
Profit for the financial year and total comprehensive income
1,682,902
339,714
------------
---------
Retained earnings at the start of the year
5,739,044
5,399,330
------------
------------
Retained earnings at the end of the year
7,421,946
5,739,044
------------
------------
All the activities of the company are from continuing operations.
Opus Care Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
12
12,930,160
13,208,735
Current assets
Stocks
13
5,500
5,500
Debtors
14
3,989,479
2,853,690
Cash at bank and in hand
1,084,469
891,125
------------
------------
5,079,448
3,750,315
Creditors: amounts falling due within one year
15
4,137,607
4,956,690
------------
------------
Net current assets/(liabilities)
941,841
( 1,206,375)
-------------
-------------
Total assets less current liabilities
13,872,001
12,002,360
Creditors: amounts falling due after more than one year
16
5,750,287
5,570,531
Provisions
Taxation including deferred tax
17
466,330
459,347
-------------
-------------
Net assets
7,655,384
5,972,482
-------------
-------------
Capital and reserves
Called up share capital
20
10
10
Other reserve
21
233,428
233,428
Profit and loss account
21
7,421,946
5,739,044
------------
------------
Shareholder funds
7,655,384
5,972,482
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 3 June 2025 , and are signed on behalf of the board by:
Dr D S Kinnersley
Director
Company registration number: 03512344
Opus Care Limited
Statement of Cash Flows
Year ended 30 September 2024
2024
2023
£
£
Cash flows from operating activities
Profit for the financial year
1,682,902
339,714
Adjustments for:
Depreciation of tangible assets
345,064
348,378
Other interest receivable and similar income
( 13,643)
( 2,623)
Interest payable and similar expenses
442,464
348,630
Tax on profit
652,885
312,984
Accrued (income)/expenses
( 28,147)
11,742
Changes in:
Trade and other debtors
( 1,098,069)
( 1,032,534)
Trade and other creditors
568,330
230,334
------------
------------
Cash generated from operations
2,551,786
556,625
Interest paid
( 442,464)
( 348,630)
Interest received
13,643
2,623
Tax paid
( 316,271)
( 39,923)
------------
---------
Net cash from operating activities
1,806,694
170,695
------------
---------
Cash flows from investing activities
Purchase of tangible assets
( 66,489)
( 17,578)
------------
---------
Net cash used in investing activities
( 66,489)
( 17,578)
------------
---------
Cash flows from financing activities
Proceeds from borrowings
( 1,546,861)
151,380
------------
---------
Net cash (used in)/from financing activities
( 1,546,861)
151,380
------------
---------
Net increase in cash and cash equivalents
193,344
304,497
Cash and cash equivalents at beginning of year
891,125
586,628
------------
---------
Cash and cash equivalents at end of year
1,084,469
891,125
------------
---------
Opus Care Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brabourne Care Centre, 209 Hythe Road, Ashford, Kent, TN24 8PL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Bad debt The level for doubtful debt has remained the same as last year in respect of a single customer of whom the company has an ongoing legal dispute. Due to the ongoing and complex nature of the case, it is not possible to ascertain if the full amounts are recoverable and hence management have determined a provision in respect of this case. 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. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Tangible fixed assets Tangible fixed assets are depreciated over their useful economic life taking into account residual values, where appropriate. The actual lives of the assets and residuals are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Revenue recognition
Revenue represents fees charged to and in respect of, residents of the company's nursing homes for the year. Activity is accounted for in the year that it takes place, not simply when cash payments are made or received.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures & fittings
-
10% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Turnover
Turnover arises from:
2024
2023
£
£
Provision of nursing home services
11,872,620
8,849,661
-------------
------------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income
2024
2023
£
£
Rental income
11,912
41,748
--------
--------
6. Operating profit
Operating profit or loss is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
345,064
348,378
Impairment of trade debtors
79,435
165,817
---------
---------
7. Auditor's remuneration
2024
2023
£
£
Fees payable for the audit of the financial statements
8,000
6,000
-------
-------
Fees payable to the company's auditor and its associates for other services:
Audit-related assurance services
6,000
5,000
Taxation advisory services
850
750
-------
-------
6,850
5,750
-------
-------
8. Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:
2024
2023
No.
No.
Administrative staff
11
4
Management staff
1
1
Nursing Home Staff
236
222
----
----
248
227
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2024
2023
£
£
Wages and salaries
6,203,696
5,222,617
Social security costs
571,386
450,782
Other pension costs
112,042
75,165
------------
------------
6,887,124
5,748,564
------------
------------
9. Other interest receivable and similar income
2024
2023
£
£
Interest on cash and cash equivalents
13,643
2,623
--------
-------
10. Interest payable and similar expenses
2024
2023
£
£
Interest on banks loans and overdrafts
442,464
348,630
---------
---------
11. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
645,902
206,608
Deferred tax:
Origination and reversal of timing differences
6,983
106,376
---------
---------
Tax on profit
652,885
312,984
---------
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 25 %).
2024
2023
£
£
Profit on ordinary activities before taxation
2,335,787
652,698
------------
---------
Profit on ordinary activities by rate of tax
583,947
143,659
Effect of capital allowances and depreciation
66,412
58,199
Utilisation of tax losses
( 424)
Deferred tax adjustment
6,983
106,376
Sundry tax items
(4,457)
5,174
------------
---------
Tax on profit
652,885
312,984
------------
---------
12. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
15,061,029
979,097
11,055
121,009
16,172,190
Additions
43,080
20,689
2,720
66,489
-------------
---------
--------
---------
-------------
At 30 September 2024
15,104,109
999,786
11,055
123,729
16,238,679
-------------
---------
--------
---------
-------------
Depreciation
At 1 October 2023
2,325,686
559,635
10,312
67,822
2,963,455
Charge for the year
293,581
43,027
186
8,270
345,064
-------------
---------
--------
---------
-------------
At 30 September 2024
2,619,267
602,662
10,498
76,092
3,308,519
-------------
---------
--------
---------
-------------
Carrying amount
At 30 September 2024
12,484,842
397,124
557
47,637
12,930,160
-------------
---------
--------
---------
-------------
At 30 September 2023
12,735,343
419,462
743
53,187
13,208,735
-------------
---------
--------
---------
-------------
Included in the cost of freehold property is freehold land of £1,035,004 (2023: £1,035,004) which is not depreciated.
13. Stocks
2024
2023
£
£
Food stocks and consumables
5,500
5,500
-------
-------
14. Debtors
2024
2023
£
£
Trade debtors
862,285
217,056
Amounts owed by group undertakings
2,946,604
2,484,948
Prepayments and accrued income
180,590
151,686
------------
------------
3,989,479
2,853,690
------------
------------
15. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
273,978
392,315
Trade creditors
108,656
161,820
Accruals and deferred income
594,148
140,863
Corporation tax
536,239
206,608
Social security and other taxes
651,419
514,158
Director loan accounts
1,602,365
3,210,645
Other creditors
370,802
330,281
------------
------------
4,137,607
4,956,690
------------
------------
The bank loans are secured on the value of land and buildings and fixtures and fittings owned by the company by way of fixed and floating charge held by the company's bank, HSBC Bank PLC.
16. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,750,287
5,570,531
------------
------------
The bank loans are secured on the value of land and buildings and fixtures and fittings owned by the company by way of fixed and floating charge held by the company's bank, HSBC Bank PLC.
17. Provisions
Deferred tax (note 18)
£
At 1 October 2023
459,347
Additions
6,983
---------
At 30 September 2024
466,330
---------
18. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 17)
466,330
459,347
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
466,330
459,347
---------
---------
19. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 112,042 (2023: £ 75,165 ).
20. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
----
----
----
----
21. Reserves
Other reserve - This is a revaluation reserve which records the value of investment property revaluations and fair value movements on assets recognised in other comprehensive income. This reserve is non-distributable. Profit and loss account - This reserve records retained earnings and accumulated losses.
22. Analysis of changes in net debt
At 1 Oct 2023
Cash flows
At 30 Sep 2024
£
£
£
Cash at bank and in hand
891,125
193,344
1,084,469
Debt due within one year
(3,602,960)
1,726,617
(1,876,343)
Debt due after one year
(5,570,531)
(179,756)
(5,750,287)
------------
------------
------------
( 8,282,366)
1,740,205
( 6,542,161)
------------
------------
------------
23. Related party transactions
At the year end, the company owed the Director £1,602,365 (2023: £3,210,645). At the year end, the company was owed £2,946,604 (2023: £2,486,965) by group companies.
24. Controlling party
The company's ultimate parent company is Opus Care Holdings Limited a company incorporated in England and Wales. The registered office of said company is Brabourne Care Centre, 209 Hythe Road, Ashford, Kent, United Kingdom, TN24 8PL .