Registration number: 06937233

Camino Healthcare (West Bromwich) Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 8

Camino Healthcare (West Bromwich) Limited

(Registration number: 06937233)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	7,541,242	5,508,103
Current assets
Debtors	5	3,974,991	4,009,073
Cash at bank and in hand		48,092	149,061
		4,023,083	4,158,134
Creditors: Amounts falling due within one year	6	(5,830,967)	(6,277,393)
Net current liabilities		(1,807,884)	(2,119,259)
Total assets less current liabilities		5,733,358	3,388,844
Provisions for liabilities		(1,450,658)	(788,360)
Net assets		4,282,700	2,600,484
Capital and reserves
Called up share capital		3	3
Revaluation reserve		3,967,714	2,677,694
Retained earnings		314,983	(77,213)
Shareholders' funds		4,282,700	2,600,484

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

......................................... O G S Horsey Director

Camino Healthcare (West Bromwich) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are presented in Sterling (£) and rounded to the nearest pound.

Going concern

The company has maintained the number of residents within the care home during the year and the results show an increased level of profit which the Directors consider to be sustainable. The group in which the company is a member has carried out a refinancing process and this new agreement has ensured the continued support of finance providers for the forseeable future. Therefore the Directors are of the opinion that there will not be any long term issues for the company and the going concern basis is therefore appropriate.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 August 2025 was Emily Ness ACA, who signed for and on behalf of Ross Brooke Ltd.

Prior period errors

The amount of £635,064 was reclassified from tangible fixed asset category Property under construction to Land and Buildings in Note 5, to reflect the period in which the asset came into use.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Recoverability of intercompany balances
The company reviews annually whether the amounts owed from group undertakings and related parties require impairment. The recoverable amounts are determined from reviewing the financial position of each entity which owes to determine if the balance sheet position is recoverable.
 

Page 2

Camino Healthcare (West Bromwich) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of mental rehabilitation services within a residential care home in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

The tax expense for the period comprises current tax payable and deferred tax.

The current income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Land and buildings held and used in the company's own activities for the supply of services are stated in the statement of financial postition at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Plant and equipment are stated in the statement of financial position 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
Furniture, fittings and equipment	33.3% Reducing balance basis
Freehold land and buildings	Nil
Office equipment	33% Reducing balance basis
Properties under construction	Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Camino Healthcare (West Bromwich) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3). Staff are employed by parent company and recharged at cost.

Camino Healthcare (West Bromwich) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	5,448,744	186,107	30,300	5,665,151
Revaluations	1,931,715	-	-	1,931,715
Additions	119,541	8,896	384	128,821
Disposals	-	(95,603)	(19,648)	(115,251)
At 31 December 2024	7,500,000	99,400	11,036	7,610,436
Depreciation
At 1 January 2024	-	131,589	25,459	157,048
Charge for the year	-	20,001	1,724	21,725
Eliminated on disposal	-	(90,487)	(19,092)	(109,579)
At 31 December 2024	-	61,103	8,091	69,194
Carrying amount
At 31 December 2024	7,500,000	38,297	2,945	7,541,242
At 31 December 2023	5,448,744	54,518	4,841	5,508,103

Included within the net book value of land and buildings above is £7,500,000 (2023 - £5,448,744) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's freehold land and buildings was revalued on 24 January 2025 by an independent valuer.
The valuation was based on market value. The name and qualification of the independent valuer are Knight Frank LLP MRICS.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,467,168 (2023 - £1,347,626).

Camino Healthcare (West Bromwich) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Debtors

Current	Note	2024 £	2023 £
Trade debtors		173,325	166,904
Amounts owed by related parties	9	3,705,064	3,705,314
Prepayments		3,819	9,576
Other debtors		92,783	127,279
		3,974,991	4,009,073

The amounts owed by related parties are unsecured, interest free and repayable on demand. However, the company does not intend to recall the amounts owed in the next 18 months.

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		1,380	(2,219)
Amounts owed to group undertakings	9	5,482,688	5,643,929
Taxation and social security		1,900	17,577
Other creditors		344,999	618,106
		5,830,967	6,277,393