Company Registration No. SC257903 (Scotland)
Elaina Care Home Limited
Unaudited accounts
for the year ended 31 March 2025
Elaina Care Home Limited
Unaudited accounts
Contents
Elaina Care Home Limited
Company Information
for the year ended 31 March 2025
Directors
Gavin Montgomery
John Montgomery
Company Number
SC257903 (Scotland)
Registered Office
40-42 Abbeygreen,
Lesmahagow
Lanark
Lanarkshire
ML11 0EQ
Scotland
Accountants
Monroe Accountants Ltd
Barnside House
Thornton
York
YO42 4RZ
Elaina Care Home Limited
Statement of financial position
as at 31 March 2025
Tangible assets
14,518
21,880
Cash at bank and in hand
345,117
445,264
Creditors: amounts falling due within one year
(24,474)
(38,886)
Net current assets
454,357
536,398
Total assets less current liabilities
468,875
558,278
Creditors: amounts falling due after more than one year
(33,618)
(36,922)
Provisions for liabilities
Deferred tax
(1,708)
(3,108)
Net assets
433,549
518,248
Called up share capital
100
100
Profit and loss account
433,449
518,148
Shareholders' funds
433,549
518,248
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by
John Montgomery
Director
Company Registration No. SC257903
Elaina Care Home Limited
Notes to the Accounts
for the year ended 31 March 2025
Elaina Care Home Limited is a private company, limited by shares, registered in Scotland, registration number SC257903. The registered office is 40-42 Abbeygreen,, Lesmahagow, Lanark, Lanarkshire, ML11 0EQ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases:
Land & buildings
2 - 10% Straight Line
Plant & machinery
25 - 50% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
50% Straight Line
Elaina Care Home Limited
Notes to the Accounts
for the year ended 31 March 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
Government grants include receipts from the Scottish government via the council.
Elaina Care Home Limited
Notes to the Accounts
for the year ended 31 March 2025
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Fair value measurement of financial instruments
Fixed asset investments are measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
There are £24,611 of costs included in repairs and renewals that are related to a roof repair and room refurbishments that have been completed which are not annual costs.
There are also £21,804 of additional agency costs due to the ill health of a Director.
Elaina Care Home Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
17,625
19,191
16,212
1,129
54,157
Additions
-
1,281
2,640
-
3,921
Disposals
-
(3,354)
-
-
(3,354)
At 31 March 2025
17,625
17,118
18,852
1,129
54,724
At 1 April 2024
12,763
11,201
7,578
735
32,277
Charge for the year
111
4,674
5,371
225
10,381
On disposals
-
(2,452)
-
-
(2,452)
At 31 March 2025
12,874
13,423
12,949
960
40,206
At 31 March 2025
4,751
3,695
5,903
169
14,518
At 31 March 2024
4,862
7,990
8,634
394
21,880
Amounts falling due within one year
Trade debtors
41,289
41,697
Accrued income and prepayments
8,880
7,124
6
Investments held as current assets
2025
2024
Listed investments
77,545
75,199
7
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
3,534
16,606
8
Creditors: amounts falling due after more than one year
2025
2024
Loans from directors
33,618
36,922
Elaina Care Home Limited
Notes to the Accounts
for the year ended 31 March 2025
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Transactions with related parties
During the year the company entered into the following transactions with related parties:
During the period under review a loan of £6,000 (2024 - £6,000) existed, this was loaned by Elaina Care Home Limited to Elaina Nursing Home which is owned by Gavin Montgomery, a Director of the company. Interest on this loan is paid at a rate of 1.5% above base rate. This is shown as income in the Income Statement.
Rental of premises
The premises and other assets are rented from Elaina Nursing Home, owned by Gavin Montgomery a Director of the company. The charge is £48,000 (2024 - £48,000) per year which is considered by the Directors to be representative of the commercial rents charged for equivalent assets given the current economic circumstances.
Directors Transactions
Dividends totalling £56,000 (2024 - £44,000) were paid in the year in respect of shares held by the company's directors.
During the period under review, Gavin Montgomery, a director of the company, provided the company with a loan totalling £32,518 (2024 - £36,294). John Montgomery, a director of the company, provided the company with a loan totalling £1,100 (2024- £628).These loans are interest free and repayable on demand.
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).
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Average number of employees
During the year the average number of employees was 33 (2024: 30).