COMPANY REGISTRATION NUMBER:
05158585
|
Elmcroft Care Home Limited |
|
|
Filleted Financial Statements |
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Elmcroft Care Home Limited |
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Statement of Financial Position |
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31 December 2024
Fixed assets
|
Tangible assets |
5 |
2,197,380 |
2,253,130 |
|
|
|
|
Current assets
|
Debtors |
6 |
1,053,072 |
1,172,234 |
|
Cash at bank and in hand |
76,043 |
128,599 |
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------------ |
------------ |
|
1,129,115 |
1,300,833 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
7,336,383 |
7,149,145 |
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------------ |
------------ |
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Net current liabilities |
6,207,268 |
5,848,312 |
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------------ |
------------ |
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Total assets less current liabilities |
(
4,009,888) |
(
3,595,182) |
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------------ |
------------ |
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Net liabilities |
(
4,009,888) |
(
3,595,182) |
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------------ |
------------ |
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|
|
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Capital and reserves
|
Called up share capital |
100 |
100 |
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Profit and loss account |
(
4,009,988) |
(
3,595,282) |
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------------ |
------------ |
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Shareholders deficit |
(
4,009,888) |
(
3,595,182) |
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------------ |
------------ |
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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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
8 September 2025
, and are signed on behalf of the board by:
Company registration number:
05158585
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Elmcroft Care Home Limited |
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Notes to the Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Abbey Healthcare, Sutherland House, 70 - 78 West Hendon Broadway, London, NW9 7BT.
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.
Going concern
The company has made a loss during the year and is in a net liability position on year end. It has received group support and accordingly the financial statements have been prepared on a going concern basis. The directors are confident that group has the ability to meet its financial obligations as they fall due for a period of at least 12 months from the date of approval of the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In preparing these financial statements, the directors have made the following judgements:- 1 Determine whether there are indicators of impairment of the tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty 2 Tangible fixed assets Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
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 material 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.
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 |
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Fixtures and fittings |
- |
20% straight line |
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Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
61
(2023:
51
).
5.
Tangible assets
|
Freehold property |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 January 2024 |
2,274,439 |
774,254 |
3,048,693 |
|
Additions |
– |
149,891 |
149,891 |
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------------ |
--------- |
------------ |
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At 31 December 2024 |
2,274,439 |
924,145 |
3,198,584 |
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--------- |
------------ |
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Depreciation |
|
|
|
|
At 1 January 2024 |
474,241 |
321,322 |
795,563 |
|
Charge for the year |
38,285 |
167,356 |
205,641 |
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--------- |
------------ |
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At 31 December 2024 |
512,526 |
488,678 |
1,001,204 |
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------------ |
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Carrying amount |
|
|
|
|
At 31 December 2024 |
1,761,913 |
435,467 |
2,197,380 |
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------------ |
--------- |
------------ |
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At 31 December 2023 |
1,800,198 |
452,932 |
2,253,130 |
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------------ |
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------------ |
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Included within land and buildings is land of £360,189 (2023 - £360,189) which is not depreciated.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
55,731 |
111,960 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
983,756 |
940,236 |
|
Other debtors |
13,585 |
120,038 |
|
------------ |
------------ |
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1,053,072 |
1,172,234 |
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7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
227,233 |
250,904 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
6,864,893 |
6,629,326 |
|
Social security and other taxes |
34,550 |
90,476 |
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Other creditors |
209,707 |
178,439 |
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7,336,383 |
7,149,145 |
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------------ |
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8.
Events after the end of the reporting period
After the inspection in November 2024 by the Care Quality Commission, the overall rating of Elmcroft Care Home remained as Inadequate, though management is confident of improving this grading at the next inspection.
9.
Summary audit opinion
The auditor's report dated
9 September 2025
was
unqualified
.
The senior statutory auditor was
Jonathan Day
, for and on behalf of
Streets Audit LLP
.
10.
Controlling party
The company was under the control of the Trustees of the Prabhdyal Sodhi Overseas Settlement throughout the year. The immediate parent company is Abbey Healthcare (Festival) Limited. The ultimate parent company is Lansbury Limited, a company incorporated in Gibraltar.