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Registered number: 13471716
WHITSTABLE HOUSE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TWP Accounting LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
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WHITSTABLE HOUSE LIMITED
REGISTERED NUMBER: 13471716
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Page 1
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WHITSTABLE HOUSE LIMITED
REGISTERED NUMBER: 13471716
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2025.
................................................
W E Graham
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The notes on pages 4 to 11 form part of these financial statements.
Page 2
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WHITSTABLE HOUSE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the year
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Surplus on revaluation of freehold property
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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Comprehensive income for the year
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Surplus on revaluation of freehold property
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 4 to 11 form part of these financial statements.
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Page 3
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Whitstable House Limited (13471716) is a private company limited by shares incorporated in England and Wales. The principal activity of the company is the provision of retirement accommodation and related nursing services which began during the year ended 31 December 2024. The address of the registered office is 20 Cranley Road, Hersham, Walton-On-Thames, United Kingdom, KT12 5BP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The company began producing sales during the year ended 31 December 2024 and hence the comparatives are not entirely comparable.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The following principal accounting policies have been applied:
The Directors are confident that the Group and the company has adequate financial resources to continue and adopt the going concern basis in preparing the annual report and financial statements.
CQC visited the home in November 2024 and have required it to implement an action plan to address a number of areas. This plan is being implemented and the Directors are confident that the prospects for business’s ability to trade remain strong. Accordingly, the directors have prepared the accounts on the going concern basis.
Turnover comprises revenue recognised by the company in respect of nursing and residential care services during the year, exclusive of Value Added Tax and trade discounts.
Income is recognised based on occupancy during the reporting period and adjustment is made for any amounts received in advance or arrears.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the consolidated results for the company and its subsidiary undertaking are included within the publicly available financial statements of Blackstown Holdings Limited. The financial statements present information about the company as an individual entities and not about its group.
Page 4
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Equipment - Items under £500 - 50% straight line
- Items above £500 - 15% reducing balance
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Revaluation of tangible fixed assets
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Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
The freehold property used by the company is recognised as tangible fixed assets and any associated gains and losses and deferred taxation thereon are recognised in the revaluation reserve.
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Page 5
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 6
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The average monthly number of employees, excluding the directors not paid through the company, during the year was as follows:
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Charge for the year on owned assets
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Cost or valuation at 31 December 2024 is as follows:
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Revaluation surplus at 31 December 2024
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Page 7
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4.Tangible fixed assets (continued)
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If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
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The land and buildings were revalued as at 31 December 2024 by Henry Harris MRICS of Cushman & Wakefield using a multiple of the Fair Maintainable EBITDA.
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Investments in subsidiary companies
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This investment represents the company's shareholding in their wholly owned subsidiary, Whitstable House PAU Limited. This is a company that was incorporated during the year in England and Wales. The company was dormant during the period and is not consolidated within these financial statements.
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Raw materials and consumables
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Page 8
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Page 9
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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The company has pledged its assets as security against any bank loans and overdrafts held by the parent company, Graham Care (BL) Limited. At the year end, there are amounts outstanding in respect of secured debts of £17,339,526 (2023 - £17,339,526).
The group's bankers have a fixed and floating charge over the company's assets.
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Deferred tax on revaluation gains
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Allotted, called up and fully paid
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1,000 (2023 - 1,000) Ordinary shares shares of £1.00 each
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Page 10
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WHITSTABLE HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Revaluation reserve
The revaluation reserve represents the effect of revaluation of tangible fixed assets where a policy of revaluation has been adopted.
Profit and loss account
The profit and loss account represents profits and losses net of adjustments.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £26,289 (2023 - £nil). Contributions totalling £10,814 (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.
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Related party transactions
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The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS102 and therefore transactions with group companies have not been disclosed.
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The company is a wholly owned subsidiary of Graham Care (BL) Limited. The ultimate parent company is Blackstown Holdings Limited, a company incorporated in England and Wales, which is under the control of Dr K E Graham and W E Graham who are the directors of the company.
Blackstown Holdings Limited is the parent of the largest group in which the Company is consolidated. Copies of the accounts of Blackstown Holdings Limited are available at the Companies House website.
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 20 September 2025 by Philip Munk FCA, FCCA (Senior Statutory Auditor) on behalf of TWP Accounting LLP.
This report is made solely to the company’s members, as a body, in accordance with Sections 495 and 496 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Page 11
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