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REGISTERED NUMBER: 09081665 (England and Wales)








Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 31 July 2024

for


The Britto Healthcare Group Ltd


The Britto Healthcare Group Ltd (Registered number: 09081665)


Contents of the Consolidated Financial Statements

for the Year Ended 31 July 2024











Page




Company Information  

1




Group Strategic Report  

2




Report of the Director  

3




Report of the Independent Auditors  

4




Consolidated Statement of Comprehensive Income

8




Consolidated Balance Sheet  

9




Company Balance Sheet  

10




Consolidated Statement of Changes in Equity  

11




Company Statement of Changes in Equity  

12




Consolidated Cash Flow Statement  

13




Notes to the Consolidated Cash Flow Statement

14




Notes to the Consolidated Financial Statements

15




The Britto Healthcare Group Ltd


Company Information

for the Year Ended 31 July 2024









DIRECTOR:

Dr D J J Britto







SECRETARY:

Mrs L G Britto







REGISTERED OFFICE:

Northfield


14 Thornhill Road


Edgerton


Huddersfield


West Yorkshire


HD3 3DD







REGISTERED NUMBER:

09081665 (England and Wales)







AUDITORS:

Lindley Adams Limited Chartered Accountants


Statutory Auditor


28 Prescott Street


Halifax


West Yorkshire


HX1 2LG


The Britto Healthcare Group Ltd (Registered number: 09081665)


Group Strategic Report

for the Year Ended 31 July 2024



The director presents his strategic report of the company and the group for the year ended 31 July 2024.


The Britto Healthcare Group Limited is an investment holding company.  The principal activity of the trading subsidiaries of the group is the provision of residential and psychological healthcare services.


REVIEW OF BUSINESS

The results of the group for the year show a total profit after tax for the group of £1,206,906 (2023 - £1,223,392). The shareholders' funds of the group total £9,408,498 (2023 - £8,250,592). The group director considers that the performance of the group has produced encouraging results during the year ended 31 July 2024.


PRINCIPAL RISKS AND UNCERTAINTIES

The process of risk acceptance and risk management is addressed through a framework of policies procedures and internal controls.  All policies are subject to management approval and continued ongoing review.


The group has developed a framework for identifying risks to which it is exposed and the impact on economic capital of each of those risks.


The principal risks that the directors consider the group faces are from inaccurate pricing and competition.


The directors maintain a system of monitoring the key risks to the group and the key performance indicators and ensures that the group complies with the strict regulatory controls under which it operates.


STRATEGY

The continuing success of the group is dependent upon the proper selection, training and retention of personnel, who are core to the success of the group as a whole.  We have continued to consolidate our position in the provision of related services in the North of England and consider that it is important to retain a diversified portfolio of risk in order to achieve maximum profitability in a highly competitive market.


The directors remain resolute in their intention to expand the provision of residential care services provided by the group and are actively looking into options to achieve this through acquisition of suitable additional residential care homes or by organic growth where possible.


KEY PERFORMANCE INDICATORS

The directors consider that our key financial performance indicators are those which communicate the financial performance and strength of the group as a whole.  The group uses its IT systems to measure several key performance indicators against its targets including turnover, sales margins, staff performance and occupancy levels.


The gross profit margin of the group is 57% (2023 - 59%). This has been calculated as gross profit divided by total revenue. These similar gross profit margin figures indicate stable financial performance.


The directors consider that the group is continuing to perform in line with the expectations of the board.


FUTURE DEVELOPMENTS

The directors consider that the continued uncertainty regarding the UK economy are considered to continue to keep the risks to UK economic growth significant and future prospects may be influenced by the outcome of these processes. The directors are monitoring the current situation in this respect.


The directors consider that it is prudent to continue to evaluate the opportunities for the growth of the group in all associated areas of the provision of medical and residential care and are continuing to consider all prospective opportunities with a view to continue the growth of the group as a whole.


ON BEHALF OF THE BOARD:






Dr D J J Britto - Director



8 May 2025


The Britto Healthcare Group Ltd (Registered number: 09081665)


Report of the Director

for the Year Ended 31 July 2024



The director presents his report with the financial statements of the company and the group for the year ended 31 July 2024.


DIVIDENDS

The total distribution of dividends for the year ended 31 July 2024 will be £ 49,000 .


DIRECTOR

Dr D J J Britto held office during the whole of the period from 1 August 2023 to the date of this report.


CHARITABLE DONATIONS

During the year the group made charitable donations amounting to £nil (2023 - £nil).


STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director 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 group and of the profit or loss of the group for that period.  In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.


AUDITORS

The auditors,  Lindley Adams Limited Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






Dr D J J Britto - Director



8 May 2025


Report of the Independent Auditors to the Members of

The Britto Healthcare Group Ltd



Opinion

We have audited the financial statements of The Britto Healthcare Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company 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 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 group's and 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 director with respect to going concern are described in the relevant sections of this report.


Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.


Report of the Independent Auditors to the Members of

The Britto Healthcare Group Ltd



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 Report of the Director.


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 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 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 director

As explained more fully in the Statement of Director's Responsibilities set out on page three, 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 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 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.


Report of the Independent Auditors to the Members of

The Britto Healthcare Group Ltd



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.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


As part of our audit, we determined a level for materiality and assessed the risk of material misstatement in the financial statements. Based on our understanding of the company and discussions with the management, we gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates.


We identified the laws and regulations which we considered to have a direct effect on the financial statements and considered that the most significant are the Companies Act 2006, Financial Reporting Standards and UK tax legislation.


The engagement partner assessed that the engagement team had the appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulations.


We enquired with management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations including fraud. We also designed specific appropriate audit procedures including:


- Agreeing financial statement disclosures to supporting documentation.

- Analytical procedures to identify any unusual or unexpected relationships.

- Testing appropriateness of journal entries, large bank items and accounting estimates for potential bias.

- Testing transactions for validity.

- Verifying the existence, ownership and valuation of fixed assets

- Enquire with management as to actual and potential litigation and claims.

- Review of correspondence and minutes.


We are not aware of any actual or suspected non-compliance with laws and regulations, and we are not responsible for preventing or detecting non-compliance with all laws and regulations. The primary responsibility for the prevention and detection of fraud rests with management and those charged with governance.


There are inherent limitations in audit procedures and there is an unavoidable risk that we may not have detected

material misstatements within the financial statements, even though the audit is properly planned and performed in accordance with ISA's UK. The further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk due to error as fraud may involve a 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.


We have applied the exemptions in Section 6 of the Ethical Standard in respect of non-audit services. The company is deemed to have informed management.


Report of the Independent Auditors to the Members of

The Britto Healthcare Group Ltd



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.





David C Adams FCA (Senior Statutory Auditor)

for and on behalf of Lindley Adams Limited Chartered Accountants

Statutory Auditor

28 Prescott Street

Halifax

West Yorkshire

HX1 2LG


8 May 2025


The Britto Healthcare Group Ltd (Registered number: 09081665)


Consolidated

Statement of Comprehensive

Income

for the Year Ended 31 July 2024



31.7.24


31.7.23


as restated



Notes

£   

£   



TURNOVER

3

3,360,106


3,170,142




Cost of sales

(1,452,773

)

(1,307,746

)


GROSS PROFIT

1,907,333


1,862,396




Administrative expenses

(409,012

)

(379,861

)


1,498,321


1,482,535




Other operating income

-


(5,891

)


OPERATING PROFIT

5

1,498,321


1,476,644




Interest receivable and similar income

222,385


162,591



1,720,706


1,639,235




Interest payable and similar expenses

6

(76,393

)

(62,232

)


PROFIT BEFORE TAXATION

1,644,313


1,577,003




Tax on profit

7

(437,407

)

(353,611

)


PROFIT FOR THE FINANCIAL YEAR

1,206,906


1,223,392




OTHER COMPREHENSIVE INCOME

-


-



TOTAL COMPREHENSIVE INCOME FOR

THE YEAR

1,206,906


1,223,392



Prior year adjustment

10

63,854



TOTAL COMPREHENSIVE INCOME SINCE

LAST ANNUAL REPORT

1,270,760





The Britto Healthcare Group Ltd (Registered number: 09081665)


Consolidated Balance Sheet

31 July 2024



31.7.24


31.7.23


1.8.22


as restated



Notes

£   

£   

£   


FIXED ASSETS

Tangible assets

11

3,162,540


3,291,104


3,432,253



Investments

12

-


-


-



3,162,540


3,291,104


3,432,253




CURRENT ASSETS

Stocks

13

1,000


700


700



Debtors

14

378,689


437,588


372,969



Cash at bank and in hand

8,067,033


6,593,055


5,204,236



8,446,722


7,031,343


5,577,905



CREDITORS

Amounts falling due within one year

15

(2,083,515

)

(892,510

)

(716,430

)


NET CURRENT ASSETS

6,363,207


6,138,833


4,861,475



TOTAL ASSETS LESS CURRENT

LIABILITIES

9,525,747


9,429,937


8,293,728




CREDITORS

Amounts falling due after more than one

year

16

-


(1,054,117

)

(1,069,283

)



PROVISIONS FOR LIABILITIES

19

(117,249

)

(125,228

)

(107,245

)


NET ASSETS

9,408,498


8,250,592


7,117,200




CAPITAL AND RESERVES

Called up share capital

20

3


3


3



Retained earnings

21

9,408,485


8,250,579


7,117,187



SHAREHOLDERS' FUNDS

9,408,488


8,250,582


7,117,190




NON-CONTROLLING INTERESTS

10


10


10



9,408,498


8,250,592


7,117,200




The financial statements were approved by the director and authorised for issue on 8 May 2025 and were signed by:






Dr D J J Britto - Director



The Britto Healthcare Group Ltd (Registered number: 09081665)


Company Balance Sheet

31 July 2024



31.7.24

31.7.23



as restated



Notes

£   

£   

£   


FIXED ASSETS

Tangible assets

11

-


-



Investments

12

101


101



101


101




CURRENT ASSETS

Debtors

14

16,922


16,922



Cash in hand

1


1



16,923


16,923



CREDITORS

Amounts falling due within one year

15

19,920


13,261



NET CURRENT (LIABILITIES)/ASSETS

(2,997

)

3,662



TOTAL ASSETS LESS CURRENT

LIABILITIES

(2,896

)

3,763




CAPITAL AND RESERVES

Called up share capital

20

3


3


3



Retained earnings

(2,899

)

3,760


7,779



SHAREHOLDERS' FUNDS

(2,896

)

3,763


7,782




Company's loss for the financial year

(6,659

)

(4,019

)



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


The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:






Dr D J J Britto - Director



The Britto Healthcare Group Ltd (Registered number: 09081665)


Consolidated Statement of Changes in Equity

for the Year Ended 31 July 2024



Called up



share


Retained


Non-controlling


Total


capital


earnings


Total


interests


equity

£   

£   

£   

£   

£   


Balance at 1 August 2022

3


7,117,187


7,117,190


10


7,117,200




Changes in equity

Dividends

-


(90,000

)

(90,000

)

-


(90,000

)


Total comprehensive income

-


1,159,538


1,159,538


-


1,159,538



Balance at 31 July 2023

3


8,186,725


8,186,728


10


8,186,738



Prior year adjustment

-


63,854


63,854


-


63,854



As restated

3


8,250,579


8,250,582


10


8,250,592




Changes in equity

Dividends

-


(49,000

)

(49,000

)

-


(49,000

)


Total comprehensive income

-


1,206,906


1,206,906


-


1,206,906



Balance at 31 July 2024

3


9,408,485


9,408,488


10


9,408,498




The Britto Healthcare Group Ltd (Registered number: 09081665)


Company Statement of Changes in Equity

for the Year Ended 31 July 2024



Called up



share


Retained


Total


capital


earnings


equity

£   

£   

£   


Balance at 1 August 2022

3


7,779


7,782




Changes in equity

Total comprehensive income

-


(4,019

)

(4,019

)


Balance at 31 July 2023

3


3,760


3,763




Changes in equity

Total comprehensive income

-


(6,659

)

(6,659

)


Balance at 31 July 2024

3


(2,899

)

(2,896

)



The Britto Healthcare Group Ltd (Registered number: 09081665)


Consolidated Cash Flow Statement

for the Year Ended 31 July 2024



31.7.24


31.7.23


as restated



Notes

£   

£   


Cash flows from operating activities

Cash generated from operations

1

1,980,474


1,568,451



Interest paid

(76,393

)

(62,232

)


Government grants

-


(5,891

)


Tax paid

(494,949

)

(257,730

)


Net cash from operating activities

1,409,132


1,242,598




Cash flows from investing activities

Purchase of tangible fixed assets

(4,303

)

(600

)


Interest received

222,385


162,591



Net cash from investing activities

218,082


161,991




Cash flows from financing activities

Loan repayments in year

(160,394

)

(5,189

)


Amount introduced by directors

65,258


91,669



Amount withdrawn by directors

(9,100

)

(12,250

)


Dividends paid to minority interests

(49,000

)

(90,000

)


Net cash from financing activities

(153,236

)

(15,770

)



Increase in cash and cash equivalents

1,473,978


1,388,819



Cash and cash equivalents at beginning

of year

2

6,593,055


5,204,236




Cash and cash equivalents at end of year

2

8,067,033


6,593,055




The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 July 2024



1.

RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS



31.7.24


31.7.23


as restated


£   

£   



Profit before taxation

1,644,313


1,577,003




Depreciation charges

132,867


141,750




Government grants

-


5,891




Finance costs

76,393


62,232




Finance income

(222,385

)

(162,591

)


1,631,188


1,624,285




Increase in stocks

(300

)

-




Decrease/(increase) in trade and other debtors

56,694


(82,095

)



Increase in trade and other creditors

292,892


26,261




Cash generated from operations

1,980,474


1,568,451




2.

CASH AND CASH EQUIVALENTS



The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:



Year ended 31 July 2024


31.7.24


1.8.23

£   

£   



Cash and cash equivalents

8,067,033


6,593,055




Year ended 31 July 2023


31.7.23


1.8.22


as restated


£   

£   



Cash and cash equivalents

6,593,055


5,204,236





3.

ANALYSIS OF CHANGES IN NET FUNDS



At 1.8.23

Cash flow

At 31.7.24

£   

£   

£   



Net cash



Cash at bank and in hand

6,593,055


1,473,978


8,067,033



6,593,055


1,473,978


8,067,033




Debt


Debts falling due within 1 year

(14,700

)

(893,723

)

(908,423

)



Debts falling due after 1 year

(1,054,117

)

1,054,117


-



(1,068,817

)

160,394


(908,423

)



Total

5,524,238


1,634,372


7,158,610




The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements

for the Year Ended 31 July 2024



1.

STATUTORY INFORMATION



The Britto Healthcare Group Ltd 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 General 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.  



Turnover

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


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

-

1% on cost


Fixtures and equipment

-  

15% on reducing balance and 10% on reducing balance


Computer equipment

-  

33% on cost and Straight line over 3 years



Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 group operates a defined contribution pension scheme.  Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.


The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



3.

TURNOVER



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



An analysis of turnover by class of business for the year ended 31 July 2023 is given below:


£   



Residential care services

2,907,875




Patient fees

24,180




Medico legal fees

238,087



3,170,142





This analysis is not considered to be applicable to the year ended 31 July 2024.


4.

EMPLOYEES AND DIRECTORS


31.7.24


31.7.23


as restated


£   

£   



Wages and salaries

1,337,191


1,199,811




Social security costs

-


1




Other pension costs

24,975


21,517



1,362,166


1,221,329





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


31.7.24


31.7.23


as restated




Directors of parent company

1


1




Directors of other group companies

1


1




Residential care home staff

55


55



57


57





31.7.24


31.7.23


as restated


£   

£   



Director's remuneration

9,490


9,153




Director's pension contributions to money purchase schemes  

3,000


3,000




5.

OPERATING PROFIT



The operating profit is stated after charging:



31.7.24


31.7.23


as restated


£   

£   



Depreciation - owned assets

132,867


141,749




Auditors' remuneration

15,259


14,020




The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



6.

INTEREST PAYABLE AND SIMILAR EXPENSES



31.7.24


31.7.23


as restated


£   

£   



Bank interest

76,393


62,232




7.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


31.7.24


31.7.23


as restated


£   

£   



Current tax:


UK corporation tax

445,386


335,628





Deferred tax

(7,979

)

17,983




Tax on profit

437,407


353,611





Reconciliation of total tax charge included in profit and loss


The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:



31.7.24


31.7.23


as restated


£   

£   



Profit before tax

1,644,313


1,577,003




Profit multiplied by the standard rate of corporation tax in the UK of 25 %

(2023 - 25 %)  

411,078


394,251





Effects of:


Expenses not deductible for tax purposes

1,307


1,000




Depreciation in excess of capital allowances

18,738


19,289




Adjustments to tax charge in respect of previous periods

12,598


(15,964

)



Carried forward losses  

1,665


-




Effect of change on tax rates  

-


(63,692

)



Effect of movements in deferred tax provisions  

(7,979

)

17,983




S455 Tax chargeable  

-


744




Total tax charge

437,407


353,611




8.

INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME



As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.



9.

DIVIDENDS



Dividends of £49,000 were paid during the year (2023 - £90,000).


10.

PRIOR YEAR ADJUSTMENT



The prior year adjustments resulted from omitted bank interest received and receivable in the year ended 31 July 2023.


The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



11.

TANGIBLE FIXED ASSETS



Group


Fixtures



Freehold


and


Computer



property


equipment


equipment


Totals

£   

£   

£   

£   



COST


At 1 August 2023

2,766,918


2,318,863


12,756


5,098,537




Additions

-


3,720


583


4,303




At 31 July 2024

2,766,918


2,322,583


13,339


5,102,840




DEPRECIATION


At 1 August 2023

373,537


1,421,540


12,356


1,807,433




Charge for year

41,778


90,695


394


132,867




At 31 July 2024

415,315


1,512,235


12,750


1,940,300




NET BOOK VALUE


At 31 July 2024

2,351,603


810,348


589


3,162,540




At 31 July 2023

2,393,381


897,323


400


3,291,104




12.

FIXED ASSET INVESTMENTS



Company


Shares in


group


undertakings

£   



COST


At 1 August 2023


and 31 July 2024

101




NET BOOK VALUE


At 31 July 2024

101




At 31 July 2023

101





The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:



Subsidiaries



Ward Green Lodge Ltd


Registered office: Northfield 14 Thornhill Road, Edgerton, Huddersfield, West Yorkshire, HD3 3DD


Nature of business: Nursing home


%


Class of shares:

holding



Ordinary £1

100.00



31.7.24


31.7.23

£   

£   



Aggregate capital and reserves

5,704,415


4,671,261




Profit for the year

1,033,154


972,414




The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



12.

FIXED ASSET INVESTMENTS - continued



Britto Psychiatry Limited


Registered office: 14 Thornhill Road, Huddersfield, HD3 3DD


Nature of business: Psychiatrists


%


Class of shares:

holding



Ordinary £1



Ordinary B £1

100.00



31.7.24


31.7.23

£   

£   



Aggregate capital and reserves

3,707,080


3,575,669




Profit for the year

180,411


254,997





13.

STOCKS



Group



31.7.24


31.7.23



as restated


£   

£   



Stock

1,000


700




14.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company



31.7.24


31.7.23


31.7.24


31.7.23



as restated


as restated


£   

£   

£   

£   



Trade debtors

337,304


298,198


-


-




Amounts owed by group undertakings

-


-


16,922


16,922




Amounts recoverable on contract

20,000


20,000


-


-




Accrued income

21,385


78,111


-


-




Directors' current accounts

-


2,205


-


-




Prepayments and accrued income

-


39,074


-


-



378,689


437,588


16,922


16,922




The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



15.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company



31.7.24


31.7.23


31.7.24


31.7.23



as restated


as restated


£   

£   

£   

£   



Bank loans and overdrafts (see note 17)

908,423


14,700


-


-




Trade creditors

42,454


25,924


4,719


-




Amounts owed to group undertakings

-


-


1


1




Tax

286,103


335,666


-


-




Social security and other taxes

20,011


19,806


-


-




VAT

24,643


38,039


-


-




Other creditors

299,964


133,855


3,500


3,500




Pension scheme creditor

4,658


4,131


-


-




Inter-company loan

92,925


-


-


-




Directors' loan accounts

293,286


239,333


7,000


7,000




Accrued expenses

111,048


81,056


4,700


2,760



2,083,515


892,510


19,920


13,261




16.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR




Group



31.7.24


31.7.23



as restated


£   

£   



Bank loans (see note 17)

-


1,054,117




17.

LOANS



An analysis of the maturity of loans is given below:



Group



31.7.24


31.7.23



as restated


£   

£   



Amounts falling due within one year or on

demand:



Bank loans

908,423


14,700




Amounts falling due between one and two

years:



Bank loans - 1-2 years

-


1,054,117





On 16 August 2019 the directors entered into an agreement to refinance the bank loan over an additional 5 years.


The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



18.

SECURED DEBTS



The following secured debts are included within creditors:



Group



31.7.24


31.7.23



as restated


£   

£   



Bank loans

908,423


1,068,817





The bank loan of a subsidiary member is held over the assets of the group as a whole.


19.

PROVISIONS FOR LIABILITIES



Group



31.7.24


31.7.23



as restated


£   

£   



Deferred tax


Accelerated capital allowances

116,519


124,863




Deferred tax

730


365



117,249


125,228





Group


Deferred



tax


£   



Balance at 1 August 2023

125,228




Provided during year

(7,979

)



Brought forward loss utilized



Balance at 31 July 2024

117,249




20.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.7.24


31.7.23


value:


as restated


£   

£   



3

Ordinary

£1

3


3




The Britto Healthcare Group Ltd (Registered number: 09081665)


Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 July 2024



21.

RESERVES



Group


Retained


earnings

£   




At 1 August 2023

8,186,725




Prior year adjustment

63,854



8,250,579




Profit for the year

1,206,906




Dividends

(49,000

)



At 31 July 2024

9,408,485





22.

RELATED PARTY DISCLOSURES



During the year the group continued to benefit from loans provided by one of its shareholders. These loans are interest free and repayable on demand.  At the balance sheet date the total amount outstanding from the group to this shareholder amounted to £85,662 (2023 - £85,662).


23.

ULTIMATE CONTROLLING PARTY



The ultimate controlling parties are Dr D J J Britto and Mrs L Britto by virtue of their shareholdings.