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Filleted

Registration number: 06371123

Invicta Care Homes Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Invicta Care Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 12

 

Invicta Care Homes Limited

Company Information

Directors

Mrs J Scott

Mr D E Thomas

Registered office

Y Garreg Lwyd
Salem Road
St Clears
Carmarthen
SA33 4DH

 

Invicta Care Homes Limited

(Registration number: 06371123)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

808,315

807,352

Current assets

 

Stocks

8

3,415

2,715

Debtors

9

111,111

118,779

Cash at bank and in hand

 

53,344

40,248

 

167,870

161,742

Creditors: Amounts falling due within one year

10

(116,811)

(105,590)

Net current assets

 

51,059

56,152

Total assets less current liabilities

 

859,374

863,504

Creditors: Amounts falling due after more than one year

10

(359,371)

(414,619)

Net assets

 

500,003

448,885

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

500,001

448,883

Total equity

 

500,003

448,885

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Invicta Care Homes Limited

(Registration number: 06371123)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 3 April 2025 and signed on its behalf by:
 

.........................................
Mrs J Scott
Director

.........................................
Mr D E Thomas
Director

 
     
 

Invicta Care Homes Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Y Garreg Lwyd
Salem Road
St Clears
Carmarthen
SA33 4DH

These financial statements were authorised for issue by the Board on 3 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Invicta Care Homes Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Reducing balance

Fixtures & Fittings

20% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

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.

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.

 

Invicta Care Homes Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Invicta Care Homes Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 16).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,186

2,470

 

Invicta Care Homes Limited

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

150,000

150,000

At 31 December 2024

150,000

150,000

Amortisation

At 1 January 2024

150,000

150,000

At 31 December 2024

150,000

150,000

Carrying amount

At 31 December 2024

-

-

Revalued assets for the year ended 31 December 2023

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

797,470

4,842

36,107

838,419

Additions

-

-

3,149

3,149

At 31 December 2024

797,470

4,842

39,256

841,568

Depreciation

At 1 January 2024

-

4,092

26,975

31,067

Charge for the year

-

150

2,036

2,186

At 31 December 2024

-

4,242

29,011

33,253

Carrying amount

At 31 December 2024

797,470

600

10,245

808,315

At 31 December 2023

797,470

750

9,132

807,352

Included within the net book value of land and buildings above is £797,470 (2023 - £797,470) in respect of freehold land and buildings.
 

 

Invicta Care Homes Limited

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

7

Investment properties

2024
£

There has been no valuation of investment property by an independent valuer.

8

Stocks

2024
£

2023
£

Other inventories

3,415

2,715

9

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

13

76,950

74,000

Prepayments

 

-

1,117

Other debtors

 

34,161

43,662

 

111,111

118,779

 

Invicta Care Homes Limited

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

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

12

54,098

54,186

Trade creditors

 

5,873

6,164

Taxation and social security

 

5,756

7,390

Outstanding defined contribution pension costs

 

1,117

1,220

Corporation tax liability

 

15,324

4,240

Other creditors

 

34,643

32,390

 

116,811

105,590

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12

359,371

414,619

 

Invicta Care Homes Limited

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

11

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

12

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

359,371

414,619

2024
£

2023
£

Current loans and borrowings

Bank borrowings

54,098

54,186

13

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Repayments by director
£

At 31 December 2024
£

Mr D E Thomas

Interest free loan

43,662

(9,500)

34,161

       
     

 

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr D E Thomas

Interest free loan

12,693

53,593

(22,624)

43,662

         
       

 

Summary of transactions with other related parties

 

Invicta Care Homes Limited

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

D.C.T Property Holdings Ltd is considered to be a related party by virtue of a common director.
 As at the balance sheet date 31st December 2024 D.C.T Property Holdings Ltd owed Invicta Care Homes Limited £76,950 (2023 : £74,000).