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Westheath Care Homes Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 October 2024

Registration number: 08862256

 

Westheath Care Homes Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Westheath Care Homes Ltd

Balance Sheet

31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,216,172

2,010,770

Current assets

 

Stocks

5

6,500

6,500

Debtors

6

457,575

514,960

Cash at bank and in hand

 

613,905

907,105

 

1,077,980

1,428,565

Creditors: Amounts falling due within one year

7

(617,040)

(1,172,679)

Net current assets

 

460,940

255,886

Total assets less current liabilities

 

2,677,112

2,266,656

Creditors: Amounts falling due after more than one year

7

(1,549)

(13,741)

Provisions for liabilities

(31,917)

(10,367)

Net assets

 

2,643,646

2,242,548

Capital and reserves

 

Called up share capital

9

2

2

Profit and loss account

2,643,644

2,242,546

Shareholders' funds

 

2,643,646

2,242,548

 

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 21 July 2025 and signed on its behalf by:
 

.........................................
Mr S J Difford
Director

Company Registration Number: 08862256

 

Westheath Care Homes Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
The Barn
Clann House
Clann Lane
Bodmin
Cornwall
PL30 5HD

These financial statements were authorised for issue by the Board on 21 July 2025.

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 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:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

Computer Equipment

33% Straight Line

Fixtures and Fittings

15% Reducing Balance

Plant and Machinery

20% Straight Line

Leasehold Improvements

15% Reducing Balance

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
The company holds the following financial instruments:

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

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.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Westheath Care Homes Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

1,910,870

66,726

68,574

20,709

2,066,879

Additions

150,480

81,400

-

31,786

263,666

At 31 October 2024

2,061,350

148,126

68,574

52,495

2,330,545

Depreciation

At 1 November 2023

3,431

21,838

21,901

8,939

56,109

Charge for the year

31,155

10,768

11,668

4,673

58,264

At 31 October 2024

34,586

32,606

33,569

13,612

114,373

Carrying amount

At 31 October 2024

2,026,764

115,520

35,005

38,883

2,216,172

At 31 October 2023

1,907,439

44,888

46,673

11,770

2,010,770

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

5

Stocks

2024
£

2023
£

Other inventories

6,500

6,500

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

438,174

165,164

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

4,493

47,676

Prepayments

 

14,908

-

Other debtors

 

-

302,120

 

457,575

514,960

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

12,192

12,446

Trade creditors

 

16,825

16,434

Taxation and social security

 

236,594

409,390

Accruals and deferred income

 

22,915

34,515

Other creditors

 

328,514

699,894

 

617,040

1,172,679

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,549

13,741

 

Westheath Care Homes Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,549

13,741

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

12,192

12,446

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

10

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

12,869

13,947

Later than one year and not later than five years

1,562

14,867

14,431

28,814

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

32,208

32,208

Later than one year and not later than five years

29,351

61,560

61,559

93,768

The amount of non-cancellable operating lease payments recognised as an expense during the year was £35,642 (2023 - £37,450).

 

Westheath Care Homes Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

11

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr L Difford

L & P Difford director loan

726,346

299,332

(1,269,478)

(243,800)

Mr S J Difford

S & K Difford director loan

99,482

75,324

(630,896)

(456,090)

Summary of transactions with all entities with joint control or significant interest

During the year Westheath Care Homes Ltd loaned amounts to L&P Difford LLP, a limited liability partnership by which Mr S Difford, Mrs K Difford, Mr L Difford and Mrs P Difford are designated members. The amount loaned of £2,500 during the year carries no interest and is repayable on demand. Balance as of 31 October 2024 of £4,493 is shown in other debtors. (31 October 2023 - £1,993).

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.