Year Ended
Registration number:
Westheath Care Homes Ltd
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Westheath Care Homes Ltd
Balance Sheet
31 October 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Westheath Care Homes Ltd
Balance Sheet
31 October 2024
For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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
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......................................... |
Company Registration Number: 08862256
Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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.
Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets 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.
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:
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Asset class |
Depreciation method and rate |
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Motor Vehicles |
25% Reducing Balance |
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Computer Equipment |
33% Straight Line |
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Fixtures and Fittings |
15% Reducing Balance |
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Plant and Machinery |
20% Straight Line |
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Leasehold Improvements |
15% Reducing Balance |
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Land and Buildings |
2% 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.
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Financial instruments
Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the 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, 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 are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 November 2023 |
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Additions |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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Charge for the year |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Included within the net book value of land and buildings above is £1,803,506 (2023 - £1,803,506) in respect of freehold land and buildings and £223,258 (2023 - £103,933) in respect of leasehold improvements and buildings.
Barclays Bank Plc holds a fixed charge, floating charge (covering all property or undertaking of the company), and a negative pledge over the company.
Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Stocks |
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2024 |
2023 |
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Other inventories |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Hire purchase contracts |
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Current loans and borrowings
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2024 |
2023 |
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Hire purchase contracts |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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2 |
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Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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Operating leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Westheath Care Homes Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Related party transactions |
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Transactions with directors |
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2023 |
At 1 November 2022 |
Advances to director |
Repayments by director |
At 31 October 2023 |
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Mr L Difford |
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L & P Difford director loan |
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Mr S J Difford |
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S & K Difford director loan |
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( |
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Summary of transactions with all entities with joint control or significant interest
During the year Westheath Care Homes Ltd made loan repayments and loaned amounts to Westheath Care Homes (Staffing) ltd, a company ownded by the directors and shareholders of Mr S Difford and Mrs K Difford of £108,784 (31 October 2023 - £63,824). As of the 31 October 24 the balance due to Westheath Care Homes (Staffing) Ltd was £63,101 (31 October 2023 -£45,683).
During the year WestHeath Care Homes Ltd paid rent of £201,625 (31 October 2023 - £352,934) to the directors Mr S Difford, Mr L Difford and Mrs P Difford for the rental of care homes owned by them personally.
Barclays Bank Plc holds a fixed charge, floating charge (covering all property or undertaking of the company), and a negitive pledge over the company for assets used for the purpose of trade, owned personally by the shareholders.