Registered number
01951253
Penrhos Care Home Limited
Filleted Accounts
30 September 2024
Penrhos Care Home Limited
Registered number: 01951253
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 257,801 265,925
Investments 4 430,000 430,000
687,801 695,925
Current assets
Stocks 2,812 2,762
Debtors 5 23,179 16,215
Cash at bank and in hand 58,854 63,183
84,845 82,160
Creditors: amounts falling due within one year 6 (138,971) (123,180)
Net current liabilities (54,126) (41,020)
Total assets less current liabilities 633,675 654,905
Creditors: amounts falling due after more than one year 7 (16,155) (25,447)
Provisions for liabilities (25,697) (26,010)
Net assets 591,823 603,448
Capital and reserves
Called up share capital 75 75
Capital redemption reserve 25 25
Revaluation reserve 9 178,461 178,461
Profit and loss account 413,262 424,887
Shareholders' funds 591,823 603,448
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. S. Campbell
Director
Approved by the board on 20 May 2025
Penrhos Care Home Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 1% straight line
Fixtures, fittings, tools and equipment 10% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 27 25
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 390,589 134,744 525,333
Additions - 667 667
At 30 September 2024 390,589 135,411 526,000
Depreciation
At 1 October 2023 136,454 122,954 259,408
Charge for the year 6,478 2,313 8,791
At 30 September 2024 142,932 125,267 268,199
Net book value
At 30 September 2024 247,657 10,144 257,801
At 30 September 2023 254,135 11,790 265,925
4 Investments
Other
investments
£
Cost
At 1 October 2023 430,000
At 30 September 2024 430,000
Historical cost
At 1 October 2023 235,457
At 30 September 2024 235,457
5 Debtors 2024 2023
£ £
Trade debtors 2,980 356
Other debtors 20,199 15,859
23,179 16,215
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 18,196
Trade creditors 6,125 7,488
Taxation and social security costs 22,065 16,397
Other creditors 100,781 81,099
138,971 123,180
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,155 25,447
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans - 4,919
9 Revaluation reserve 2024 2023
£ £
At 1 October 2023 178,461 178,461
At 30 September 2024 178,461 178,461
10 Related party transactions
During the year, Mr. S. Campbell, director and shareholder received dividends to the value of £28,000 (2023 : £23,000).
11 Controlling party
The ultimate controlling party is Mr. S. Campbell, by virtue of his holding 100% of the issued ordinary share capital.
12 Other information
Penrhos Care Home Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Old Station Yard
Llantwit Fardre
Pontypridd
Rhondda Cynon Taff
CF38 2LZ
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