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REGISTERED NUMBER: 03519853 (England and Wales)












HILLCROFT NURSING HOMES LIMITED

STRATEGIC REPORT, DIRECTORS' REPORT AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Directors' Report 3

Independent Auditors' Report 6

Statement of Income and Retained Earnings 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


HILLCROFT NURSING HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







Directors: Mr J P Ayrton
Mrs L A Mattinson
Mr D Pinington
Mr B A Pinington
Mrs G Reynolds



Secretary: Mrs L A Mattinson



Registered office: Hillcroft Nursing Home
North Road
CARNFORTH
LA5 9LX



Registered number: 03519853 (England and Wales)



Auditors: Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: National Westminster Bank Plc
De Havilland Way
Lostock
Horwich
BOLTON
BL6 6LB



Accountants: Scott and Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


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

Review of business
Hillcroft Nursing Homes continues in its aim to provide a safe home from home where all our residents are cared for as individuals and with dignity, promoting our core values of being caring, respectful and committed.

Occupancy continued to improve slowly over the year, though has still not yet recovered to pre-pandemic levels. Increased occupancy and an increase in average fees returned an increase in turnover on the previous year.

The highest cost remained staffing, with recruitment and retention continuing to be a major challenge. Despite maximising pay rates, domestic recruitment remains minimal, however staffing numbers were increased utilising the sponsor licence to employ overseas staff. This has helped to reduce reliance on agency staff, although this remains a considerable cost.

Repair and maintenance activity in the year was significant with major equipment upgrades and refurbishment projects being undertaken.

Usage of PPE (personal protective equipment) remains extensive and is no longer available free of charge via the government portal, resulting in an increase in costs of medical supplies.

Energy costs remain substantial due to continuation of 3 year energy contracts agreed at highly inflated rates.

Other operating costs have increased in line with additional occupancy and inflation.

The group's cash position remains good.

The company's key financial and other performance indicators during the year were as follows:-

Unit 2024 2023
Turnover £ 15,795,988 14,423,863
Operating profit £ 1,200,578 876,920
Profit before tax £ 1,201,245 877,201
Occupancy % 89 87

Principal risks and uncertainties
Occupancy has not yet recovered to pre pandemic levels and enhanced infection control measures still in place.

Staffing in the sector remains an issue. Recruitment and retention of appropriately trained staff remains a priority.

A significant portion of the company's income is derived from local authorities and ICBs over which we have no budgetary control.

On behalf of the board:





Mr J P Ayrton - Director


22 May 2025

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


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

Principal activity
The principal activity of the company in the year under review was that of the running of nursing homes.

Dividends
An interim dividend of £4500 per share was paid on 31 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 900,000 .

Future developments
Incorporated within Principal Risks and Uncertainties in the Strategic Report.

Directors
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr J P Ayrton
Mrs L A Mattinson
Mr D Pinington
Mr B A Pinington
Mrs G Reynolds

Employment of disabled persons
The company gives full consideration to applications for employment from disabled persons where the candidate’s particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion.

Where existing employees become disabled, it is the company’s policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.


HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Engagement with employees
The Company understands the importance of internal communication in the operation of an effective organisation. Clear channels of communication have been established in both directions to ensure that;
- All staff are kept informed of any changes in policies and procedures
- Relevant staff are made aware of customer feedback, both positive and negative
- Feedback is obtained from staff regarding the effectiveness of procedures and practices
- Suggestion for improvement are encouraged
- Staff do not feel isolated from the Management and the decision-making process

A dedicated Communications Officer is employed to facilitate staff communication and engagement.
Employee representatives are invited to join our Brand Champion Programme to help promote Hillcroft values and drive improvement.
Hillcroft have a formal Trade Union Recognition Agreement in place with Unison and a Joint Negotiating and Consulting Group has been established in respect of the Bargaining Group.
The Directors are responsible for ensuring that effective communication and employee engagement is maintained within the organisation.
They achieve this through:
- Monthly meetings held with Matrons and other Heads of Departments, following a formal agenda, to address operational issues, forward planning and improvement opportunities.
- Quarterly meetings held with Brand Champions to discuss staff feedback suggestions and improvement initiatives.
- Regular director drop-in sessions in the homes to allow staff to raise any issues, or make suggestions for improvement, with the directors directly.
- Formal meetings of the Joint Negotiating and Consulting Group in line with the Unison recognition agreement.
- Issue of an annual statement regarding the performance of the organisation.
- Review of annual staff surveys.

Heads of Department maintain effective lines of communication within their departments by holding regular staff meetings to ensure that all staff are kept informed and staff feedback is obtained. Formal group supervisions are also undertaken to ensure important information is shared and documented.

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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.

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


Auditors
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr J P Ayrton - Director


22 May 2025

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
HILLCROFT NURSING HOMES LIMITED


Opinion
We have audited the financial statements of Hillcroft Nursing Homes Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the 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 company's affairs as at 31 December 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 Directors' Report, but does not include the financial statements and our Auditors' Report 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
HILLCROFT NURSING HOMES 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 Directors' Report.

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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

· enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims.
- audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
· analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years, budgets and expectations to ensure the reasonableness of the figures therein.
· third party confirmation is obtained from the company's bankers to confirm bank balances, loan facilities and security held.
· detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company.
· financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
HILLCROFT NURSING HOMES LIMITED


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 an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stuart Hinnigan F.C.A. C.T.A. (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

22 May 2025

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

Turnover 3 15,795,988 14,423,863

Administrative expenses 14,602,340 13,568,138
1,193,648 855,725

Other operating income 4 6,930 21,195
Operating profit 6 1,200,578 876,920

Interest receivable and similar income 667 281
Profit before taxation 1,201,245 877,201

Tax on profit 8 302,390 207,990
Profit for the financial year 898,855 669,211

Retained earnings at beginning of year 1,120,563 1,451,352

Dividends 9 (900,000 ) (1,000,000 )

Retained earnings at end of year 1,119,418 1,120,563

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 10 179,687 156,687

Current assets
Stocks 11 52,208 43,127
Debtors 12 2,720,489 1,465,079
Cash at bank and in hand 289,772 1,263,402
3,062,469 2,771,608
Creditors
Amounts falling due within one year 13 2,089,554 1,782,638
Net current assets 972,915 988,970
Total assets less current liabilities 1,152,602 1,145,657

Provisions for liabilities 15 32,984 24,894
Net assets 1,119,618 1,120,763

Capital and reserves
Called up share capital 16 200 200
Retained earnings 1,119,418 1,120,563
Shareholders' funds 1,119,618 1,120,763

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





Mr J P Ayrton - Director


HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,147,404 1,082,828
Tax paid (237,051 ) (193,258 )
Government grant 6,930 14,795
Net cash from operating activities 917,283 904,365

Cash flows from investing activities
Purchase of tangible fixed assets (93,558 ) (91,743 )
Sale of tangible fixed assets - 659
Interest received 667 281
Net cash from investing activities (92,891 ) (90,803 )

Cash flows from financing activities
Amounts owed by group undertakings (898,022 ) 698,645
Equity dividends paid (900,000 ) (1,000,000 )
Net cash from financing activities (1,798,022 ) (301,355 )

(Decrease)/increase in cash and cash equivalents (973,630 ) 512,207
Cash and cash equivalents at beginning of
year

2

1,263,402

751,195

Cash and cash equivalents at end of year 2 289,772 1,263,402

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024


1. Reconciliation of profit before taxation to cash generated from operations

2024 2023
£    £   
Profit before taxation 1,201,245 877,201
Depreciation charges 69,899 55,042
Loss on disposal of fixed assets 659 4,181
Government grants (6,930 ) (14,795 )
Finance income (667 ) (281 )
1,264,206 921,348
(Increase)/decrease in stocks (9,081 ) 496
Increase in trade and other debtors (357,388 ) (72,961 )
Increase in trade and other creditors 249,667 233,945
Cash generated from operations 1,147,404 1,082,828

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 December 2024
31/12/24 1/1/24
£    £   
Cash and cash equivalents 289,772 1,263,402
Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 1,263,402 751,195


3. Analysis of changes in net funds

At 1/1/24 Cash flow At 31/12/24
£    £    £   
Net cash
Cash at bank and in hand 1,263,402 (973,630 ) 289,772
1,263,402 (973,630 ) 289,772
Total 1,263,402 (973,630 ) 289,772

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

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


1. Statutory information

Hillcroft Nursing Homes 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.

Significant judgements and estimates
When preparing the financial statements, the directors are required to make judgements, estimates and assumptions about the carrying value of assets, liabilities, income and expenses.The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for services provided in the normal course of business.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a service to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 10% Straight line
Plant and machinery - 33% Straight line
Fixtures and fittings - 20% Straight line
Motor vehicles - 25% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stock is stated at cost price. Stock is intended for the use in the provision of care and not for resale. As such, stock balances are reviewed regularly to ensure they reflect usage and operational needs.

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. Accounting policies - continued

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.

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 15,795,988 14,423,863
15,795,988 14,423,863

4. Other operating income
2024 2023
£    £   
Other income - 6,400
Government grants 6,930 14,795
6,930 21,195

Government grants represent amounts received under the Apprenticeship Levy Scheme and amounts received from local authorities relating to NHS Vaccination funds.

5. Employees and directors
2024 2023
£    £   
Wages and salaries 9,767,432 9,005,460
Social security costs 840,747 689,154
Other pension costs 209,451 159,706
10,817,630 9,854,320

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

Management 14 15
Administration 17 16
Kitchen and ancillary 79 79
Nurses and Carers 246 235
356 345

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. Employees and directors - continued

2024 2023
£    £   
Directors' remuneration 170,797 171,076
Directors' pension contributions to money purchase schemes 54,242 16,435

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

6. Operating profit

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 83,241 78,113
Other operating leases 1,509,000 1,509,000
Depreciation - owned assets 69,899 55,043
Loss on disposal of fixed assets 659 4,181

7. Auditors' remuneration
2024 2023
£    £   
Auditors' remuneration 5,820 5,016

8. 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 294,300 197,052

Deferred tax 8,090 10,938
Tax on profit 302,390 207,990

UK corporation tax has been charged at 25% .

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. Taxation - continued

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:

2024 2023
£    £   
Profit before tax 1,201,245 877,201
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

300,311

219,300

Effects of:
Expenses not deductible for tax purposes 1,463 1,370
Capital allowances in excess of depreciation - (286 )
Depreciation in excess of capital allowances 616 -
year
Time apportioned change in tax rate - (12,394 )
Total tax charge 302,390 207,990

9. Dividends
2024 2023
£    £   
Ordinary shares of £1 each
Interim 900,000 1,000,000

10. Tangible fixed assets
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 January 2024 71,003 331,555 429,827 32,584 864,969
Additions - 40,336 53,222 - 93,558
Disposals - (14,414 ) (6,043 ) - (20,457 )
At 31 December 2024 71,003 357,477 477,006 32,584 938,070
Depreciation
At 1 January 2024 45,269 271,272 366,201 25,540 708,282
Charge for year 4,025 37,370 26,743 1,761 69,899
Eliminated on disposal - (14,322 ) (5,476 ) - (19,798 )
At 31 December 2024 49,294 294,320 387,468 27,301 758,383
Net book value
At 31 December 2024 21,709 63,157 89,538 5,283 179,687
At 31 December 2023 25,734 60,283 63,626 7,044 156,687

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. Stocks
2024 2023
£    £   
Stocks 52,208 43,127

12. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,043,715 698,412
Amounts owed by group undertakings 1,606,349 708,327
Prepayments 70,425 58,340
2,720,489 1,465,079

13. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 280,793 330,034
Tax 134,301 77,052
Social security and other taxes 395,438 329,711
Other creditors 710,095 629,816
Pension contributions 30,294 24,443
Accruals 538,633 391,582
2,089,554 1,782,638

14. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,477 27,706
Between one and five years 51,970 75,235
In more than five years 1,286 -
81,733 102,941

15. Provisions for liabilities
2024 2023
£    £   
Deferred tax 32,984 24,894

Deferred
tax
£   
Balance at 1 January 2024 24,894
Charge to Income Statement during year 8,090
Balance at 31 December 2024 32,984

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


16. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200

Each share entitles the holder to vote, to dividends and to capital distribution arising from the winding up of the company.

17. Pension commitments

The company operates a defined contribution scheme for all qualifying employees. The total expense charged to the profit and loss in the period ended 31 December 2024 was £209,450 (31 December 2023 £159,706)

Contributions totalling £30,294 (2023- £24,443) were payable to the scheme at the end of the year and are included in creditors.

18. 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.

Other related parties
2024 2023
£    £   
Building and repair works 37,597 14,267

During the year the group employed the services of a company owned by the controlling directors' sons, to carry out building and general maintenance at the homes. The group maintains a trading account with the company and all transactions are carried out under normal trading terms.

HILLCROFT NURSING HOMES LIMITED (REGISTERED NUMBER: 03519853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


19. Ultimate controlling party

The ultimate controlling party is Hillcroft Limited.

The company's immediate parent is Hillcroft Limited, incorporated in England and Wales.

The most senior parent entity producing publicly available financial statements is Hillcroft Limited. These financial statements are available upon request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Hillcroft Limited.

The address of Hillcroft Limited is:
Hillcroft Nursing Home
North Road
Carnforth
LA5 9LX

The parent of the smallest group in which these financial statements are consolidated is Hillcroft Limited.

The address of Hillcroft Limited is:
Hillcroft Nursing Home
North Road
Carnforth
LA5 9LX