Year Ended
Registration number:
Country Retirement & Nursing Homes (Investments) Ltd
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Country Retirement & Nursing Homes (Investments) Ltd
Balance Sheet
30 September 2024
Note |
2024 |
2023 |
|
Current assets |
|||
Debtors (including £1,161 due after more than one year (2023 - £1,079)) |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
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
......................................... |
Company Registration Number: 06527956
Country Retirement & Nursing Homes (Investments) Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The business address is the same as the registered office address.
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.
Country Retirement & Nursing Homes (Investments) Ltd
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 from group companies and entities under common control can be found in note 4 and 5.
Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.
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.
Country Retirement & Nursing Homes (Investments) Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Financial instruments
Classification
Recognition and measurement
Loans with group companies and entities under common control are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
2024 |
2023 |
|
Amounts owed by group undertakings |
|
|
Less amounts due after one year |
( |
( |
- |
- |
Details of non-current trade and other debtors
£1,161 (2023 - £1,079) of Amounts owed by group undertakings is classified as non current.
Creditors |
2024 |
2023 |
|
Due after one year |
||
Amounts owed to group undertakings |
|
- |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
Country Retirement & Nursing Homes (Investments) Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Financial commitments, guarantees and contingencies |
The company is party to a cross guarantee with related parties in favour of Santander.
The bank borrowing of the companies are secured over the freehold properties owned by each company respectively and at the balance sheet date amounted to:
Parent company and fellow subsidiaries £28,800,000 (2023 - £22,800,000)
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.
Audit report |
Relationship between entity and parents |
Relationship between entity and parents
The parent of the smallest group in which these financial statements are consolidated is
The address of Regal Healthcare (Holdings) Limited is:
Clapham Road South
Lowestoft
Suffolk
NR32 1QS