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Acceptus Healthcare Limited

Annual Report and Financial Statements
Year Ended 30 September 2024

Registration number: 07881415

 

Acceptus Healthcare Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 10

 

Acceptus Healthcare Limited

Balance Sheet

30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

200

300

Tangible assets

5

107,356

96,973

 

107,556

97,273

Current assets

 

Stocks

6

6,265

5,748

Debtors (including £3,490,530 due after more than one year (2023 - £3,212,541))

7

3,571,365

3,322,471

Cash at bank and in hand

 

24,979

54,398

 

3,602,609

3,382,617

Creditors: Amounts falling due within one year

8

(402,316)

(434,195)

Net current assets

 

3,200,293

2,948,422

Total assets less current liabilities

 

3,307,849

3,045,695

Creditors: Amounts falling due after more than one year

8

(130,946)

-

Provisions for liabilities

(28,467)

(27,477)

Net assets

 

3,148,436

3,018,218

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

3,148,336

3,018,118

Shareholders' funds

 

3,148,436

3,018,218

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:

.........................................
Mr V Thayanandarajah
Director

.........................................
Mr I Jarvis
Director

Company Registration Number: 07881415

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Kingsley House
Clapham Road South
Lowestoft
Suffolk
NR32 1QS

The business address is the same as the registered office address, although the entity operates a care home in Suffolk, England.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006. There are no material departures from FRS102.

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.

Further information about the trading situation of the company can be found in the group accounts.

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

Key accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:

Group recharges
Cost re-allocations are required in order to fairly reflect the cost of management services borne by group companies and entities under common control. These are based on judgemental estimates of the proportion of management time spent in areas of the business which are different from where the payroll cost is originally processed, and where joint contracts of employment are in place.

Intercompany loan interest
The business trades as part of a group. In addition to recharges of central costs and other trading settlements, management charges are raised to reflect the cost of funding arranged at a group level. Significant balances with group and other connected parties arise, these balances are due after more than one year. The lending company charges interest on these loans using a market rate for an equivalent third party loan.

The carrying value of amounts owed to/from group companies and entities under common control can be found in note 7 and 8.

Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities.

Income relates to monies received for the provision of care home services and is recognised on a straight line basis over the period of residence.

Government grants

COVID-19 related grants do not have any imposed specified future performance-related conditions on the company, and therefore are recognised when the grant proceeds are received or receivable. The grant agreements do include specific criteria on what these funds can be spent on and therefore spending is monitored closely by management.

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

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 corporation 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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets, except freehold land and buildings 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.

Freehold land and buildings are stated in the balance sheet at valuation. An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

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

Freehold property

2% straight line

Furniture, fittings and equipment

20-100% straight line

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

5% straight line

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.

Provisions

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

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

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.

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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Loans with group companies and entities under common control; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when a company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans and loans with group companies and entities under common control, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans and loans with group companies and entiites under common control are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2023 - 43).

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Cost or valuation

At 1 October 2023

1,000

At 30 September 2024

1,000

Amortisation

At 1 October 2023

700

Amortisation charge

100

At 30 September 2024

800

Carrying amount

At 30 September 2024

200

At 30 September 2023

300

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

18,145

132,182

150,327

Additions

14,307

35,618

49,925

Disposals

-

(15,692)

(15,692)

At 30 September 2024

32,452

152,108

184,560

Depreciation

At 1 October 2023

1,288

52,066

53,354

Charge for the year

649

38,893

39,542

Eliminated on disposal

-

(15,692)

(15,692)

At 30 September 2024

1,937

75,267

77,204

Carrying amount

At 30 September 2024

30,515

76,841

107,356

At 30 September 2023

16,857

80,116

96,973

Included within the net book value of land and buildings above is £30,515 (2023 - £16,857) in respect of leasehold property improvements.

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Other inventories

6,265

5,748

7

Debtors

2024
 £

2023
 £

Trade debtors

54,898

71,455

Amounts owed by group undertakings

3,490,530

3,212,541

Other debtors

16,902

23,590

Prepayments and accrued income

9,035

14,885

 

3,571,365

3,322,471

Less non-current portion

(3,490,530)

(3,212,541)

80,835

109,930

Details of non-current trade and other debtors

£3,490,530 (2023 - £3,212,541) of amounts owed from group companies is classified as non current.

8

Creditors

2024
£

2023
£

Due within one year

Trade creditors

20,355

31,375

Corporation tax

29,520

160,332

Taxation and social security

19,997

20,954

Other creditors

129,432

73,731

Accruals and deferred income

203,012

147,803

402,316

434,195

2024
£

2023
£

Due after one year

Amounts owed to group undertakings

130,946

-

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary 'A' shares of £1 each

25

25

25

25

Ordinary 'B' shares of £1 each

25

25

25

25

Ordinary 'C' shares of £1 each

25

25

25

25

Ordinary 'D' shares of £1 each

25

25

25

25

 

100

100

100

100

10

Financial commitments, guarantees and contingencies

The company is party to a cross guarantee with related parties in favour of Barclays Bank PLC. The bank borrowings are secured by a charge over the freehold properties owned by the related parties.

The bank borrowings of the companies at the balance sheet date amounted to:

Parent company and fellow subsidiaries £33,223,926 (2023 - £16,165,373)

Included within the tangible fixed assets net book value of £107,356 is £9,182 (2023 - £14,337) relating to assets held under hire purchase agreements payable by entities under common control. The depreciation charged to the financial statements in the year in respect of such assets amounted to £5,155 (2023 - £8,665).

Between 2014 and 2018, the company contributed to a Remuneration Trust, which was properly reflected in the audited accounts, that has been the subject of an ongoing HMRC enquiry. The directors have provided for their best estimate of the potential liability in the financial statements based on professional advice received and the information currently available to them. The outcome of the enquiry remains uncertain and is contingent on ongoing negotiations with HMRC, and there may be additional liabilities beyond those provided for.

11

Related party transactions

The company has taken advantage of the exemption provided by FRS102 to not disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Summary of transactions with entities under common control

During the year the company entered into various transactions with entities under common control. Transactions entered into, and trading balances outstanding at the year end, are as shown below. Outstanding balances with entities are unsecured, interest bearing and cash settled.
 

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

Loans to related parties

2024

Entities under group control
£

Entities under common control
£

At start of period

74,193

-

Advanced

68,314

567,394

Repaid

(79,909)

(567,394)

At end of period

62,598

-

2023

Entities under group control
£

Entities under common control
£

At start of period

31,450

-

Advanced

92,139

270,514

Repaid

(49,396)

(270,514)

At end of period

74,193

-

Terms of loans to related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the amounts are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

Loans from related parties

2024

Entities under group control
£

Advanced

47,627

Repaid

(1,439)

At end of period

46,188

2023

Entities under group control
£

At start of period

1,971

Repaid

(1,971)

At end of period

-

 

Acceptus Healthcare Limited

Notes to the Financial Statements

Year Ended 30 September 2024

Terms of loans from related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the amounts are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

12

Relationship between entity and parents

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Peacock Holdings (2015) Limited, incorporated in England and Wales.

The address of Peacock Holdings (2015) Limited is:
Kingsley House
Clapham Road South
Lowestoft
Suffolk
NR32 1QS

13

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was James Barrett, who signed for and on behalf of PKF Francis Clark on 27 June 2025.