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COMPANY REGISTRATION NUMBER: NI022659
Springlawn House Ltd
Filleted Unaudited Financial Statements
31 March 2025
Springlawn House Ltd
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
527,746
555,115
Current assets
Debtors
6
81,009
41,121
Cash at bank and in hand
150,380
2,017,140
---------
------------
231,389
2,058,261
Creditors: amounts falling due within one year
7
172,020
108,840
---------
------------
Net current assets
59,369
1,949,421
---------
------------
Total assets less current liabilities
587,115
2,504,536
Creditors: amounts falling due after more than one year
8
82,282
15,182
Provisions
Taxation including deferred tax
16,701
24,732
---------
------------
Net assets
488,132
2,464,622
---------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
488,032
2,464,522
---------
------------
Shareholders funds
488,132
2,464,622
---------
------------
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 year ending 31 March 2025 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 year 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 .
Springlawn House Ltd
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:
Mrs L Beckett
Mrs S Colhoun
Director
Director
Mrs L Ormsby
Director
Company registration number: NI022659
Springlawn House Ltd
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 44 Dromore Road, Omagh, Co Tyrone, Northern Ireland, BT78 1RB. The principal activity of the company is providing residential nursing care facilities.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 65 (2024: 73 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
867,918
138,255
219,786
11,432
1,237,391
Additions
9,500
7,829
17,329
Disposals
( 9,500)
( 9,500)
---------
---------
---------
--------
------------
At 31 March 2025
867,918
138,255
227,615
11,432
1,245,220
---------
---------
---------
--------
------------
Depreciation
At 1 April 2024
413,341
77,651
180,496
10,788
682,276
Charge for the year
12,779
13,070
9,187
162
35,198
---------
---------
---------
--------
------------
At 31 March 2025
426,120
90,721
189,683
10,950
717,474
---------
---------
---------
--------
------------
Carrying amount
At 31 March 2025
441,798
47,534
37,932
482
527,746
---------
---------
---------
--------
------------
At 31 March 2024
454,577
60,604
39,290
644
555,115
---------
---------
---------
--------
------------
6. Debtors
2025
2024
£
£
Trade debtors
22,835
12,799
Other debtors
58,174
28,322
--------
--------
81,009
41,121
--------
--------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
48,146
10,646
Trade creditors
78,492
30,326
Social security and other taxes
45,382
67,528
Other creditors
340
---------
---------
172,020
108,840
---------
---------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
82,282
15,182
--------
--------
9. Directors' advances, credits and guarantees
The balance owed to the company at the year end was £nil. (2024: £nil)