Hearn Care Homes Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 04531226

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		3,735,856		4,340,730

			3,735,856		4,340,730
CURRENT ASSETS
Stocks	6	1,890		1,890
Debtors	7	676,799		2,763,971
Cash at bank and in hand		4,806		57,292

		683,495		2,823,153
Creditors: Amounts Falling Due Within One Year	8	(1,296,131 )		(1,245,062 )

NET CURRENT ASSETS (LIABILITIES)			(612,636 )		1,578,091

TOTAL ASSETS LESS CURRENT LIABILITIES			3,123,220		5,918,821

Creditors: Amounts Falling Due After More Than One Year	9		(453,458 )		(2,868,074 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(33,192 )

NET ASSETS			2,669,762		3,017,555

CAPITAL AND RESERVES
Called up share capital	10		1		1
Revaluation reserve			2,291,040		2,291,040
Profit and Loss Account			378,721		726,514

SHAREHOLDERS' FUNDS			2,669,762		3,017,555

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Hearn Care Homes Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paul Hearn

Director

30/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Hearn Care Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04531226 . The registered office is The Tax Partnership, 2 Cheapside, Derby, DE1 1BR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Plant & Machinery	25% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	25% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Hearn Care Homes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 71 (2023: 87)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	100,000

As at 31 December 2024	100,000

Amortisation
As at 1 January 2024	100,000

As at 31 December 2024	100,000

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	4,647,514	140,420	489,352	7,911	5,285,197
Additions	-	1,557	5,388	339	7,284
Disposals	(513,970 )	-	-	-	(513,970 )

As at 31 December 2024	4,133,544	141,977	494,740	8,250	4,778,511

Depreciation
As at 1 January 2024	510,755	97,031	332,226	4,455	944,467
Provided during the period	56,989	11,058	29,199	942	98,188

As at 31 December 2024	567,744	108,089	361,425	5,397	1,042,655

Net Book Value
As at 31 December 2024	3,565,800	33,888	133,315	2,853	3,735,856

As at 1 January 2024	4,136,759	43,389	157,126	3,456	4,340,730

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Hearn Care Homes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Stocks

	2024	2023
	£	£
Stock	1,890	1,890

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	131,938	177,458
Amounts owed by participating interests	514,877	2,532,523
Other debtors	29,984	53,990

	676,799	2,763,971

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	43,406	84,983
Bank loans and overdrafts	216,699	167,887
Amounts owed to participating interests	924,475	855,927
Other creditors	91,408	121,010
Taxation and social security	20,143	15,255

	1,296,131	1,245,062

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	2,700,187	2,868,074
Amounts owed to participating interests	(2,246,729 )	-

	453,458	2,868,074

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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Hearn Care Homes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Related Party Transactions

Summary of transcations with other related parties

Loans were made to and from related companies under common control.

The loans are interest free and repayable on demand.

Loans to Related parties

	2024	2023
	£	£
At start of period	285,794	316,246
Advance	641,887
Repaid	(412,804)	(30,452)
At end of period	514,877	285,794

Loans from related parties

	2024	2023
	£	£
At start of period	855,928	641,258
Advance	874,197	245,120
Repaid	(805,650)	(30,452)
At end of period	924,475	855,928

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