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COMPANY REGISTRATION NUMBER: 08293304
Park House Care (Sandy) Limited
Filleted Unaudited Financial Statements
For the period ended
29 October 2024
Park House Care (Sandy) Limited
Statement of Financial Position
29 October 2024
29 Oct 24
31 Dec 23
Note
£
£
£
Fixed assets
Intangible assets
5
3,893
23,337
Tangible assets
6
2,690,835
2,739,789
Investments
7
100
100
------------
------------
2,694,828
2,763,226
Current assets
Debtors
8
42,258
11,353
Cash at bank and in hand
6,313
954
--------
--------
48,571
12,307
Creditors: amounts falling due within one year
9
988,505
490,031
---------
---------
Net current liabilities
939,934
477,724
------------
------------
Total assets less current liabilities
1,754,894
2,285,502
Creditors: amounts falling due after more than one year
10
598,476
Provisions
8,008
1,020
------------
------------
Net assets
1,746,886
1,686,006
------------
------------
Park House Care (Sandy) Limited
Statement of Financial Position (continued)
29 October 2024
29 Oct 24
31 Dec 23
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,746,885
1,686,005
------------
------------
Shareholders funds
1,746,886
1,686,006
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 October 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 July 2025 , and are signed on behalf of the board by:
SK Saraogi
Director
Company registration number: 08293304
Park House Care (Sandy) Limited
Notes to the Financial Statements
Period from 1 January 2024 to 29 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The trading address of the company is Park House Nursing Home, Mill Lane, Sandy, SG19 1NL, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The financial statements have been prepared on a going concern basis despite the loss for the year. The director is satisfied the company has sufficient funds and arrangements in place to meet liabilities as they fall due for payment for a period of at least 12 months from the date the accounts are approved.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Depreciation Tangible fixed assets are recognised at cost or valuation, less accumulated depreciation and any impairments. Depreciation takes place over the estimated useful life, down to the assessed residual value. The carrying amount of the company's fixed assets is tested as soon as conditions show that a need for impairment has arisen.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
15 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures and fittings
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 50 (2023: 48 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 29 October 2024
270,278
---------
Amortisation
At 1 January 2024
246,941
Charge for the period
19,444
---------
At 29 October 2024
266,385
---------
Carrying amount
At 29 October 2024
3,893
---------
At 31 December 2023
23,337
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
2,928,501
169,977
3,098,478
Additions
7,295
3,777
11,072
------------
---------
------------
At 29 October 2024
2,935,796
173,754
3,109,550
------------
---------
------------
Depreciation
At 1 January 2024
275,381
83,308
358,689
Charge for the period
48,915
11,111
60,026
------------
---------
------------
At 29 October 2024
324,296
94,419
418,715
------------
---------
------------
Carrying amount
At 29 October 2024
2,611,500
79,335
2,690,835
------------
---------
------------
At 31 December 2023
2,653,120
86,669
2,739,789
------------
---------
------------
7. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 29 October 2024
100
----
Impairment
At 1 January 2024 and 29 October 2024
----
Carrying amount
At 29 October 2024
100
----
At 31 December 2023
100
----
8. Debtors
29 Oct 24
31 Dec 23
£
£
Trade debtors
10,681
6,116
Other debtors
31,577
5,237
--------
--------
42,258
11,353
--------
--------
9. Creditors: amounts falling due within one year
29 Oct 24
31 Dec 23
£
£
Bank loans and overdrafts
123,218
Trade creditors
16,781
29,133
Amounts owed to group undertakings and undertakings in which the company has a participating interest
684,551
98,540
Social security and other taxes
19,592
17,565
Other creditors
267,581
221,575
---------
---------
988,505
490,031
---------
---------
Included within bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government.
10. Creditors: amounts falling due after more than one year
29 Oct 24
31 Dec 23
£
£
Bank loans and overdrafts
598,476
----
---------
Included within bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government.
11. Directors' advances, credits and guarantees
The director operated a loan account with the company which has £132,208 owed from the company at year end (2023 - £104,928). No interest has been charged during the year and the balance is repayable on demand.
12. Related party transactions
The company has taken exemption under the terms of paragraph 33.1a of FRS102 from disclosing related party transactions with it's parent company and subsidiary.
13. Controlling party
The immediate parent company is John Tillisch Care Limited. John Tillisch Care Limited was acquired on 29 October 2024 by Pressbeau Holdings Limited. Pressbeau Holdings Limited is the ultimate controlling company from that date.